The paper "Importance of Building Strong Brand and Effective Marketing" is a perfect example of marketing coursework. The marketing communication environment has evolved significantly from what it was in the past. Technological advancement and the internet have changed how companies interact and communicate with customers (Keller, 2008). Yet, brand building has become an important marketing strategy for many companies across the globe. Almost all companies are aimed at building a strong brand. Brands are very valuable in any organisation. Companies often aim to create strong brands by authoring compelling brand stories (Keller, 2008).
Not all organisations are able to build strong brands and effective marketing communication due to ineffective brand-building tactics and inadvertent value of the brand. It is important for companies to build strong brands and effective marketing communication in order to reach their target customers (Kotler and Keller, 2006). Some of the benefits of marketing communication include stronger customer loyalty, market extension opportunities, competitiveness and large sale margins among others (Kotler and Keller, 2006). Marketing communication is the method used by companies to inform, persuade and remind customers about a product or a service.
Strong brands are able to differentiate products from identical products and ensure that customers recognise a specific product (Kotler and Keller, 2006). This paper is going to discuss the importance of building a strong brand and effective marketing communication. It will discuss the elements of brand-building and will explain the connection between branding and communications. The importance of brand-building will be illustrated using an example from the Coca-Cola Company and Vodafone. The Role of Branding and Marketing Communication Branding and marketing communication is beneficial to both customers and companies (Kornberger, 2010).
To start with, with strong brands and effective marketing communication, companies can charge more for their products since the customers are willing to pay more for brands with compelling personalities. Charging higher prices allows companies to enjoy high-profit margins. In addition, marketing communication is considered a means by which companies gain customer loyalty (Kornberger, 2010). An organisation with effective marketing communication and strong brand always have repeat purchases from consumers and enjoy positive word-of-mouth which enhances the image of the company. In the side of the customers, brands and marketing techniques are seen as important sources of information about a product or service (Olins, 2000).
This simplifies the buying decisions of the consumers. In addition, strong brands are a mark of quality. For instance, if a consumer has a proof that a given brand is of high quality, he or she will gain a sense of safety to try the product or service and this will increase the sales of a company (Ashworth and Kavaratzis, 2010). Moreover, strong brands and effective marketing communications tend to influence the purchasing decisions of the consumers in favour of a given product or service.
Marketing communication and branding try to influence cognitive, affective and behavioural concepts of consumers. A company with a strong brand and effective marketing communication enjoy the benefit of elastic customer response to price changes (Ashworth and Kavaratzis, 2010). For instance, a company that has established a powerful brand that is perceived as the best among the competitors does not suffer much when it increases or decreases the prices of its products or services (Ashworth and Kavaratzis, 2010). Customers are able to easily adapt to changing prices when they have a strong perception of a specific brand in their minds.
Strong brands do not suffer from competitive marketing actions. They have already established themselves as the best brands and any actions by the competitors do not really affect their performance (Ashworth and Kavaratzis, 2010).