During the 1990s, the resource-based view (also known as the resource-advantage theory) of the firm became the dominant paradigm. It is an inter-disciplinary approach that represents a substantial shift in thinking. It focuses attention on an organisation's internal resources as a means of organising processes and obtaining a competitive advantage. The resource-based view suggests that organisations must develop unique, firm-specific core competencies that will allow them to outperform competitors by doing things differently and in a superior manner. There is No Luck. Only Good Marketing. | Franz Schrepf | TEDxAUCollege
The needs, goals, and behavior of your potential customers dictate how you convey your product or service. Understanding those things helps you determine what kind of media your personas are consuming, what motivates them, and where they “live” online. You can see why having that information helps develop a compelling, effective brand -- it helps you reach the right people.
A good brand will have no trouble drumming up referral business. Strong branding generally means there is a positive impression of the company amongst consumers, and they are likely to do business with you because of the familiarity and assumed dependability of using a name they can trust. Once a brand has been well-established, word of mouth will be the company’s best and most effective advertising technique.
Whether it's a print ad design, mass customization, or a social media campaign, a marketing asset can be judged based on how effectively it communicates a company's core value proposition. Market research can be helpful in charting the efficacy of a given campaign and can help identify untapped audiences, in order to achieve bottom-line goals and increase sales. 6 Steps to Build a STRONG Personal Brand in 2020 (On AND OFF Social Media)