Assignment
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.
1) How does product (theme park services) from the four Ps of marketing reassure existing customers and invite new ones? Explain.
2) 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.
3) 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.
4) 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.
1) Determine the benefits of brand loyalty in reducing marketing cost.
2) Explain how brand loyalty can be used to create a barrier to entry for the new competitors.
3) Explain the how brand loyalty can help overall financial performance.
Format your assignment according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.