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in corporate social responsibility.The possible until the problem gets
CSR helps in building solved.
“Differentiation”. Here,
As highlighted, earlier, marketers need
differentiation refers to what to realise that due to slowdown in
corporates are doing for the welfare economic activities, the purchasing
of community with respect to its power of consumers has declined
competitors. It has been established drastically. Therefore, pricing needs to
be relevant even if it results in earlier
in the marketing field that social
financial losses. Brands must
responsibility is an excellent way for a
broadcast its contributions to the
company to build its brand and cause as it would help in earning
reputation. For instance, talking customer trust and attitude.
about India, it is worth mentioning Consumer engagement in this crisis
the PM Cares Fund which provides a would definitely reap benefits in terms
of brand loyalty and advocacy.
benefit to the companies that if they
donate the funds, then their financial Brands would definitely retain the
contribution would be regarded as customers provided they support
CSR expenditure which is otherwise them and assure the consumers
mandatory for a firm to incur. regarding their support.
Author’s Corner- Demystifying
the Marketing lenses
Being a specialist in the marketing and
consumer behaviour domain, I aspire
to share a few strategies which can
help the brands and marketers on
how to overcome the challenges.
The competition in the marketplace is
huge. The brands which are ethical
and consumer centric are going to
survive in the future. This
unprecedented time is educating the
consumers regarding the brand’s
philosophy and strength to fight
against the pandemic. The customer
service delivery needs to be effective
to the best possible extent as
consumers also are aware of the fact
that the quality of services which they
are used to avail and experience, the
delivery of the same quality is not
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