Loyal Customer Worksheet

Brand

Colgate

Why was this brand selected?

I selected the Colgate Brand because I am very familiar with it, not forgetting being a very loyal consumer. Also, Colgate is one of the most trusted brands that have gained and maintained a positive public reputation. Besides, the brand is creatively designed, thus making it very appealing to prospective as well as potential consumers. Also, the product is made up of distinctive ingredients, thus making it offer differentiating benefits to its uses, fulfilling its brand promise.

Moreover, the brand was chosen due to its nice brand image and strength as well. The product has unique features that best suits and satisfies all dental needs. It is also crucial to note that the Colgate brand is succeeding with its consumers.

Colgate is well-positioned in the market. For instance, the brand is a major and one of the most selling brands the dental hygiene as well as oral care markets. The brand has bagged a considerable market share.Indeed, the primary target audience of Colgate consists of individuals from all over the globe who want to maintain healthy teeth. Consumers have had a desirable perception towards Colgate following its brand essence, not forgetting its relatively strong brand personality. Customers who purchase the brand always the value, and the expectations are not only met but excited. The brand is continually finding its way into many homes. Over the past, the Colgate brand has managed to retain as well as attract new customers. The demand and overall sales of the product have been increasing year after year. Furthermore, the Colgate brand has successfully fulfilled its brand promise by giving its users relevant differentiating benefits. Colgate is known to whiten teeth more when compared to what is referred to as me-too brands.

Colgate Brand has relatively stable brand equity. For instance, the brand has managed to win the hearts of the consumers, not forgetting their trust. Since the brand has earned the trust of its consumers, most of them have become very loyal, and they cannot go for competing brands since it has already taken the minds of the consumers. Positive consumer perception has also contributed to strengthening the Colgate Brand Equity. Indeed, substantial brand equity has enabled it to manage and succeed in the changing conditions in the market. Colgate’s strong equity is a very crucial intangible asset to the Palmolive Company, not forgetting it is having a financial value.

Stiff Competition

Availability of unsaturated markets in the developing nations

Maintaining its top market position.

Use its strong brand name and personality to introduce new innovative brands successfully

Meeting the rapidly changing consumer tastes as well as preferences.

Execute extensive market research to identify the current trends and technologies and be the first to adopt and benefit from them

Changing trade regulations and policies

Colgate company has an opportunity to engage in mutual trade agreements to enhance its smooth operations in various regions.

To overcome stiff competition from companies offering similar brands and maintain its market share, Palmolive Company should adopt competitive marketing strategies. For example, it should continually advertise its brands to inform, convince, and remind their potential as well as prospective about the existence of such products in the market. The company should also adopt current production technologies to produce more developed products with unique features. The Palmolive Company should also commit always to offer relatively high-quality standardized products that give value to its esteemed clients. It is important for Palmolive Company to execute extensive research by investing in the research and development team to be in a position to identify changes in consumer tastes as well as preferences. The company should then innovatively develop products that align with the current consumer tastes and win the souls of their target market. Lastly, Palmolive Company should adopt what is referred to as market penetration and expansion to invade and do business in less saturated markets where competition is relatively low.

A product is just an item that is offered to the market by a seller.

A brand is a name a company uses when giving their offerings

A product is exchanged for cash.

A brand makes company products identifiable.

A product satisfies a specific need, that is, products are known to perform express as well as specific roles.

A brand is known to boost the consumer’s psychological perception after acquiring a product from a reputable business entity.

A product can be felt or seen.

A brand can neither be seen nor felt.

A product can be copied.

It is impossible to copy a company brand.

Products can be replaced.

Brands are irreplaceable (Difference Between. Net, n.d).