The Benefits and Costs of Using a Marketing Approach to Doing Business in Vietnam
We cannot deny that marketing is an important part of any company. Marketing now plays a central role in the transfer of customer information into products, new services and then locate this product on the market. The new products and services is the answer of the company before the change of customer preferences and the dynamics of competition. Customer needs change, companies must innovate to satisfy and meet your needs. In order to be successful, the company has to follow the marketing concepts.
1.4 The benefits and costs of using a marketing approach to doing business in Vietnam
Brand building and communication are indispensable in marketing. The branding is a long process. The prestige of the brand quality is rated by consumers. All activities are affecting the company brand. Lets take a look to the benefit and cost of using a marketing approach.
Benefit
Many companies are aware that they need to enhance the customer delight in order to have the long-term sustainable competitive advantages. They have to build the good image and satisfy the consumer in order to do that, the companies have to improve their good and services and show the customer how good they are. It can lead to attract and retain customers loyalty.
As their customers are satisfied, they will buy again their product. When they feel happy and satisfied, they will use your product or services even more. Besides, they also become a marketer to recommend these products or services to their friend or family.
In addition, the after sales service is also very important that can influence to the companys prestige. The company has to take the responsibility when their good has mistake. For example, they allowed customer to change the other one or refund money. Although it is small things, it shows the companys responsibility and respectability