Academic Sample Essay -Marketing strategy for some companies offers and discounts, for some it is reputation. Should consumer goods companies concentrate special discounts and offers to promote their products or they should focus on reputation? What do you think is more important? (here they are asking our Opinion)
There has been a long ongoing debate on whether consumer goods companies should offer special discounts and offers to promote their products or just rely on their reputation to get them ahead in today’s market. I believe that the former should be more vehemently applied, thus reinforcing a company’s reputation. It is in the best interest of any company to offer lucrative deals to target and attract more customers. With the advent of globalization, the market has become intensely cut-throat. Everyone is competing neck and neck to be the best. Thus, for a company to come out victorious at the end of the tunnel, they need to be proactive in figuring out new and improved marketing tactics to not only outdo competition but also themselves.
The primary reason why a company should offer discounts and offers is that the latter attract customers from all walks of life. As a result, this boosts the sale of products. Oftentimes, when a new product is pitched into the market, it is done so at a discounted rate. This, in turn, piques the interest of the budget savvy consumer who tries it out. When this new product is able to compete with already established products, the customer tends to stick to the new product, mainly because they are getting the same performance at a reduced price. This not only enforces confidence, thereby maintaining the reputation of the company but the consumer is also satisfied when it comes to money savings.
However, this strategy can sometimes backfire. There is a false notion of expensive equals reliable. Some people are often biased towards particular consumer goods. To them, anything cheap may not be durable or of good quality. This leads such companies to go into massive losses as they are unable to target a certain faction of the society.
Big Basket and Grofers are two unique online grocery delivery apps available in India. To survive side-by-side, each needs to come up with unique and attractive offers to attract customers since they are pretty similar. Thus, they resort to different marketing tactics such as festival discounts, sales, combo offers among many others.
To conclude, providing discounts and offers to the consumer base is the best way for a company to keep their customers happy while fortifying their own reputation.
RELATED LINKS-
Essay Many species in the world are on the verge of extinction, how do you see it?
