Marketing Your Business
Advertising your business
One of the main reasons for advertising is to brand your business, now when I think of corned beef the brand Fray Bentos come to mind, a company established in 1899 which is best known for its range of canned meat pies, including steak and kidney and minced beef and onion.
At the end of last year it was taken over by Baxters and Baxters chairman Audrey Baxter said:
"Like Baxters, Fray Bentos is a heritage brand and is known the length and breadth of the country, holding a special place in the hearts of British consumers both young and old.We have many exciting ideas to revitalise the brand as we aim to secure a strong foothold in the canned meat market."
It will be interesting to see how they advertise in the future. One thing I am sure of is that they will not become involved in discount advertising which has been the death knell of many brands.
A brand that starts discounting initially attracts new customers, but in doing so cuts its profits and when it stops discounting consumers move gravitate back to their original source. The company is then in a more difficult position having less revenue to spend on advertising to maintain the image of the brand.
If you have a business think carefully how you advertise particularly with special or free offers carry out market research and try to model the results.
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