Cultural Levels and Business
February 12, 2025
In the previous two articles, we saw how information regarding the possible future price, dividends and rate of return expected by the investor can be used to derive the present value of an equity security. However, these models were limited in their scope. Firstly, they had limited horizon periods viz. one period and two periods. […]
Maybe you read the article that was shared on Facebook that said “10 best places to visit this summer” and maybe that article ended up influencing your choice for summer vacation destination. You may have thought that this article was written by a user or a travel enthusiast that wanted to share their experience. In […]
Debt securities are widely issued and traded in the secondary market. Debt securities could have a fixed interest rate or a floating interest rate. When debt is taken for the short term, fixed interest rates are preferred. However, in the medium to long run, the interest rates cannot be directly fixed. This is because, as […]
Career development programs are designed to meet specific needs and requirements of a particular group of employees. They can be developed for a particular department of special target groups. Depending upon the group for which the program is to be designed, the activities and workshops involved in it also change accordingly. Therefore, before designing and […]
What is Conflict of Interest and how does it arise? In recent months, we have seen a spate of scandals involving top corporate houses and sportspersons about how they have been implicated in conflict of interest issues. These scandals have dented the reputations of many corporate houses, media houses, and sports management companies. At heart […]
Brand evokes the responses. There are many people who love their Apple iPod or love their car etc.
There are certain feelings that come to your mind when you think about your favorite brands. People expect that these brands should demonstrate brand promises every time whenever they are, encountered. Inconsistencies in the performance of services can lead to damage in further relations. This can cause a customer to select some other brand.
Brand promise is what you say to the customer and what is to be delivered. If you are not able to meet the expectations of the customer, your business will either flounder or die. If you are not able to deliver the brand promise you will not be able to meet the expectations that have been created in the customers mind.
There are three major mistakes that the business leaders make while executing and developing the brand promise:
For example, if you have a gourmet restaurant then the customers will have a image in their mind that it will different from the local restaurant. This is one of the major reason, why one should work for every smallest detail. For example, the image of a gourmet restaurant does not include plastic menus or paper placemats.
For example, a customers asks do you accept credit card? Do you accept all credit cards or only master card and visa? If you don’t accept these cards, does it make any difference in the cost? Its just that you are losing sales. Then what are the other services you are giving to the customer in place which is the attraction for the customers.
Any small inconvenience which will force the customer to say that “you are not completely service oriented” and encourages the customer to some other brand.
If your goal is to be a business leader you will invest time to train the staff. If you select a person who is very polite and does not even know how to dress up for an interview then you competition should send a thank you card for all the business you will send his way.
People who want to become the business leader understand they are a great product brands. They are authentic, dependable and reliable. Their icon is their name. Delivering the best of themselves is their brand promise. Do you want to become winner at working? Then, deliver the brand promise.
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