Question

From Chapter 11 Assignment- Revisit the world of Business How did marketing contribute toward creating the successful Banana Republic brand?

Answer 1

Marketing can be defined in simple terms as the as the placement of a product at the right place, at a right price and at a right time. Which, allows a product to be promoted effectively in the market. The Brand followed 4 P's of marketing namely Product, Promotion, Placement, and Price. Marketing allowed the organization to function properly and efficiently while keeping unethical conducts in check and providing guidance to the work staff. The Banana Republic Brand did not engage in unethical and shady dealings and have made a name for themselves which provides them respect and value as far as word of mouth popularity is considered between different organizations and prospective clients.I think that at the consumer level the ethical lapses as many of the organizations do not really care about the customer satisfaction which hampers the revenue of an organization and the basic purpose of any business is to create more customers by providing satisfactory services. As ignoring the customers can throw the businessmen out of the market. Personal connections and human emotions describe the desired future position of the company. Every brand must see through the eyes of the customer that what would they expect when purchasing their product or services and it is a fundamental reason that people will avail your services again and again and that's what the Banana Republic Brand did through the mode of marketing.

The company showed that marketing practices are more important at the consumer level rather than the business level this is evident by the fact that for every business to succeed, it needs to have some amount of trust of the people. Whether it is in its dealings or in its structure. To operate successfully and for people to create a sympathetic relationship of understanding while, gain the support of potential stakeholders and maintain a favorable place with the prospective investor, it needs to show that it can deliver certain tangible value that could later be utilized in their favor.