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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.
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.
Explain the benefits of customer loyalty to the brand.
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.
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