Wednesday, April 15, 2009

The price of competition

I can make this short. Whether I will or not remains to be seen.

Karen was talking with a friend of hers this afternoon -- a guy in the hotel bidness. Guy told her that he is all about tactics these days. Guy said he was going after new categories. Guy said it's all about price now -- cutting your price to get the business.

That's cool. But you know what? If you have a strong or even just an established brand, you're going to engender more customer loyalty than if you don't. And, while you still may have to give way some price, you won't have to give away as much. So the ROI from Brand Development is measurable.

Not only that, but inroads are a lot smoother into new markets and categories for an established brand with a clear brand promise.

People -- whether they are meeting planners or vacation planners -- will pay more for a brand they know and trust than one that is unknown to them.

I'm not making this up. More about Brand Development on our web site here.

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