You are a regional marketing director of a theme park in the southeastern United States. The chief marketing officer (CMO) of global operations of the theme park group wants you to lead the marketing response to a recent safety incident that has affected the brand globally. You are tasked with designing a phased marketing strategy for reopening all parks in the group while addressing the organizational goals of maximum safety, effective crisis communication, improved customer satisfaction, and increased profit potential.
As a first step, you must create a short report for all other regional marketing directors to help them understand the role of marketing in creating and sustaining customers’ brand loyalty, which is necessary for improving long-term customer satisfaction and profit potential.
As explained by Aaker and Moorman in Strategic Market Management, brand loyalty is the tendency of customers to purchase products from the same brand over and over again, rather than switching to other choices. Brand loyalty can also be viewed as a “resistance to switching;” it gives a business an edge over its competitors by causing it to be the first choice when a customer makes a spending decision. If a company has a high degree of brand loyalty it can redirect its assets to more impactful spending, including how it allocates those resources towards marketing efforts .Accounting homework help
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.
- How does product (theme park services) from the four Ps of marketing reassure existing customers and invite new ones? Explain.
- 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.
- 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.
- 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.
- Determine the benefits of brand loyalty in reducing marketing cost.
- Explain how brand loyalty can be used to create a barrier to entry for the new competitors.
- Explain the how brand loyalty can help overall financial performance.
Guidelines for Submission
Submit a 2- to 3-page Word document using double spacing, 12-point Times New Roman font, and one-inch margins. Consult the Shapiro Library APA Style Guide for more information on style. Accounting homework help
MBA 645 CMO MEMO
As you know, we recently closed our theme parks globally due to a serious safety incident
resulting in serious injury to several of our guests and two employees. This has resulted in the
closing of the parks and all associated services. We are confident that the safety issues have
been addressed and are preparing to reopen the parks, beginning with the U.S. Park Southeast.
We have made every effort to ensure extensive safety measures are in place at this time.
I am asking you, given your extensive background in marketing and strategic development, to
take the lead in planning a marketing strategy for the U.S. Park Southeast’s reopening, including
plans for a phased reopening of all parks. You will need to consider critical objectives such as
maximum safety, crisis communication, customer satisfaction, and optimal profit potential. You
will be coordinating the marketing strategy with corporate strategy to ensure our brand is both
protected and optimized. Accounting homework help
A brand analysis and the identification of critical marketing and communications factors must
be included in your planning to successfully reopen the parks. Please consider the alignment
with our other functional departments in your efforts. It will take all of us to successfully
relaunch the parks and to protect and optimize our brand.
I would like a presentation made to all marketing directors of our global brand within 10 weeks