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What Is Meant By Brand Extension?
Most successful brands have multiple extensions- Adidas, Coca-Cola, Boohoo, and others. These brands have leveraged their well-established brand to introduce new products to their already existing and loyal customer base. The goal of brand extensions is to reach new customers, expand into new markets, and increase sales of the existing brand. They also help you…
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Reputational Risk: What it is, Types & Mitigation
Introduction Reputational risk refers to the potential for negative publicity, public perception, or controversy surrounding a company’s actions, products, or services to damage its reputation. This damage can lead to a loss of customers, reduced revenue, and decreased shareholder value. In today’s interconnected and digital world, managing reputational risk is a critical aspect of any…
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Brand Reputation Management: Everything You Need to Know
After creating awareness for your product or brand, the next step is to ensure that your customers follow through to become your customer. A good brand reputation is one of the most powerful ways to persuade potential customers to purchase your products; it shows your credibility and positive relationship with your customers. If potential customers…
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Escalation Management: What It Is, Process & Types
Customer satisfaction is an important factor in sustaining a positive brand reputation and loyalty. As an organization, your customer support teams must provide excellent service to customers and resolve issues quickly. Frustrated customers frequently become brand ambassadors, and not in a good way; they are eager to discourage others from doing business with your company. …