Review the memo from the CMO of the organization in the course scenario and write a short report on the role of marketing in creating and sustaining a brand. You will also explain the benefits of customer loyalty to the brand.
Specifically, address the following criteria:
Explain the role of the four Ps of marketing in creating and sustaining brand.
How does product (theme park services) from the four Ps of marketing reassure existing customers and invite new ones? Explain.
How can price (entrance ticket, services, and food and beverage costs) from the four Ps of marketing be used to generate new customers and motivate existing ones? Explain.
How can place (location and ambience of the parks) from the four Ps of marketing restore and enhance confidence of customers in the brand? Explain.
How can promotion (events, outreach programs) from the four Ps of marketing create additional traffic and more engagement? Explain.
Explain the benefits of customer loyalty to the brand.
Determine the benefits of brand loyalty in reducing marketing cost.
Explain how brand loyalty can be used to create a barrier to entry for the new competitors.
Explain the how brand loyalty can help overall financial performance.
Guidelines for Submission
Submit a 2- to 3-page Word document using double spacing, 12-point Times New Roman font, and one-inch margins.
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