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NEW Unit 28 Branding: M1 - Analyse the advantages and disadvantages of branding to a selected large business.

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Module
Unit 28 - Branding 60

Institution
PEARSON (PEARSON)

*Certified Distinction Grade Work* Unit 28 Branding: M1 - Analyse the advantages and disadvantages of branding to a selected large business.

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Uploaded on July 21, 2024
Number of pages 7
Written in 2022/2023
Type Essay
Professor(s) Unknown
Grade A

farzoneKris Member since 1 year 8 documents sold

Customers to clients

Now that Tesla has customers in which they have bought their goods and services (fully electric
cars). Tesla's next objective is to make these customers into clients. These clients buy the goods
and services of Tesla repeatedly and are invested in Tesla. A way Tesla makes customers
become clients is through their credibility in Tesla, clients know Tesla produces high-quality
premium cars, and the fact that it is a well-recognized brand in the general public and also
becoming the fastest growing car company in the world, the cars also get updated monthly, and
has many cool functions built into the car All these aspects can make customers become clients.

Clients to advocates

Now that Tesla has clients in their business, which as explained are always intrigued and
invested in Tesla business and buy products from Tesla repeatedly, they read articles online or
in newspapers about Tesla to gain insight into Tesla. These Clients can move into the advocate
bracket. Advocates are those who are representative and become part of Tesla in ways they can
benefit the business. They help/ offer advice businesses such as Tesla look for ways of
developing and improving their products to satisfy customers’ needs and wants as they have
already had the customer experience.

Analyse the advantages and disadvantages of branding to
selected large business

Benefits

Differentiates the product from the competition

A huge benefit of branding is that it can allow customers to easily identify the product that the
business provides. It can help businesses build awareness and recognition in customers' mind-
sets. A way Tesla does this is by making customers aware of their brand for the products they
provide. A product identifies the brand and the value it brings to the customer. Tesla is able to
differentiate the product to their consumers by making their goods and services compelling

, from their other competitors in ways that consumers can recognize Tesla and the products that
Tesla offers in their marketplace.

Increases customer engagement

Branding allows the business to increase customer engagement. This is a huge benefit, as
businesses can get a deeper insight when understanding a certain issue/problem at hand. It
allows better work relationships and can allow customers to express their honest feedback as
they are interested in the goods and services you provide, they can give strategies in ways the
business can improve their goods and service in which it satisfies customer needs and wants.
Tesla has recently become the largest and fastest-growing company in the world, thus they
have intrigued many customers and overall increased customer engagement, tesla uses social
media to allow customers to give their feedback and ideas to the goods and services they offer
for example customers can give ideas on what features they should consider and add into the
software of the car, they can give new and exciting way to interact with the electric car which,
adding new features such as software updates can incline customers to always be engaging
with the business and implementation of new updates within Tesla electric car.

Increases customer loyalty and customer advocates

Businesses that provide goods and services to customers in which they have satisfied their
needs and wants, can entice/bring a large customer base which increases how many loyal
customers are in your business. These customers can benefit your business, they use word of
mouth to make people aware of how good the product and services you provide. These Loyal
customers can become advocates for the business, they have more customer experience as
they were once a customer of the business then became an advocate, they are now part of
your business, and they help ways in which the business can satisfy customer needs and wants.
Tesla is considered the fastest growing car company in the world thus they attracted many
customers and among those customers are loyal customers. Tesla loyal customers are very
beneficial to them, as they help them to even more grow in the general public, providing
awareness of what goods and services they provide and social media, tesla loyal customers are
always interested in what tesla will do in the future for their electric cars, these are customers
read articles, go to their launch events and support them through social media. These loyal
customers can become advocates of their Tesla, they can help tesla go in the right direction,
they give advice and feedback such as improvement to the car autopilot, bugs they have
experienced as a past customer and giving them ideas/functions to implement to their electric
cars.

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NEWUnit 28: Branding, P1,P2,P3,P4,P5,P6,M1,M2,M3,D1,D2,D3 - (Whole Assignment) - DISTINCTION*Graded

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*NEW* Unit 28 Branding: M1 - Analyse the advantages and disadvantages of branding to a selected large business.

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