The concept of corporate branding may have belonged to domestic and multinational companies of the super business league, but there are small and medium business enterprises enjoying a miniature version of corporate branding which could be termed as enterprise branding. Unlike the behemoths that spend billions on image building exercises through corporate social responsibility activities, these enterprises build their image through offering superior value proposition to their customers. These enterprises do not promote their individual product/service offerings; they promote the whole enterprise through their offerings. These offerings ensure the winning of customer loyalty which is crucial to their survival and success. Not just winning customer loyalty, these enterprises also make the customers contribute considerably to the business. These enterprises enjoy maximum customer loyalty, though some of them offer no services and, sometimes, even intimidate the customers. Yet, the customers stay with them as they perceive the UVP from the enterprises. It shows clearly that customers would be willing to stay and contribute even when the companies offer no services, yet offer the value the customers expect from them.
Customer
loyalty is the crucial factor which decides the boon or bane of a company. Companies
spend billions to build a brand value for the products/services in order to woo
consumers who buy, consume, are satisfied, stay and contribute to the companies'
exchequers. Present scenario witnesses the mushrooming of products/services which
have more or less similar offerings that confuse the target consumers. |