Marketing Strategies for Business Consultancy

This assignment delves into the world of marketing strategies employed by business consultancy firms. It examines how these firms leverage different marketing tools like above-the-line and below-the-line techniques to promote their services. The analysis specifically focuses on the product, price, promotion, and place elements of the marketing mix. Additionally, the assignment explores how business consultancy companies can effectively utilize brand equity theories in their daily operations to maintain a competitive edge.

Principles and practice of
Marketing

INTRODUCTION.....................................................................................................................................3
Background of Business Consultants Ltd...............................................................................................3
Question1: Organisation current branding strategy and brand equity model.......................................3
Question2: Critically application of Hollensen’s “Glocal Theory”......................................................8
..............................................................................................................................................................9
CONCLUSION.......................................................................................................................................11
.............................................................................................................................................................12

INTRODUCTION
Marketing process is effectual process for organisation and it help in exchanging relationship
with customers which generate value for enterprise. Principles of marketing give guidelines
to company for satisfying their customers. In general term it can be said that marketing is
promotional activity which help in selling goods and services easily (Child, 2015). This
assignment is rely on business practices and practices of merchandising. For this, Business
Consultants Ltd has been involved in the concern; given company is in Hong Kong which
assists business enterprises in implementing good market strategy through this they can
generate revenue and survive in competitive market. Moreover this report explains
effectiveness of enterprise current branding strategy, brand recognition, identity, and
positioning and brand affinity. Apart from this it through light on application of Hollensen’s
“Global theory”. This involves standardisation and adoption of price, place, promotion and
product.
Background of Business Consultants Ltd.
Business Consultants Ltd. Is the consultancy organisation in Hong Kong that assists in
encouraging the enterprise and offer the finest strategy and adviser advice to the business
organisation (Coduto, 2015). Instead of this, Business Consultants Ltd. It is an industry which
provide services and introduced in 2005, Hong Kong they render offerings related to Clerking
& Accountancy, corporate fiscal accounting and so on. Present merchandising plan of action
of the enterprise are to endorse their offerings on the demand of client preferences, tasty and
accomplish their needs. Basically large scale organisation need consultancy because they are
dealing in lots of things at particular time. Consultancy can be related to anything it can be
day to day activities of business. In such firms there are some professional of specific field
and having wide knowledge about that particular subject. There are two category of
consultant internal and external.
Question1: Organisation current branding strategy and brand equity
model
Brand recognition – it is a particular product logo which is identified by the relevant
customer. This creates a brand image by some product symbol, tag line, packaging or

advertising. Brand recognition extent the customer choice where it will be recognised by the
customer easily (Goworek and McGoldrick, 2015). Recognition is all about the noticeable
particular product brand. Brand recognition helpful in marketing strategies, it differentiates
the product among so many products and services available in market segments. It is also
known as brand exists. Brand recognition has an effective ability of customer to think about
the brand product. There are some ways through which business consultancy can better their
brand recognition. These are stated below:
 Provide better services to customer.
 Work in such a manner that can create name of business consultancy limited in
market.
 Render such values that can exceed expectation of buyers.
 Use some photos, logo, in material which is used in for marketing.
Brand identity - brand identity is a category in which business represent the product. It is
exiting with the brand image. Brand identity has its own visual identification like logo,
colour, image, shape, size. It has main intention to create the certain image in customer mind.
Developed the unique character and it uniformity to help the customer (Hughes and
Foley,2014). The Morden practices revolved around the company’s modification that creates
the exclusive identity brand.
 It is the image, which is portrait by the business.
 Visual identity is more important than shape of the product.
 Brand identity assists in creating cost of the product.
 It provides the excellence of services with attention.
 One of the ways to surpass the trust and loyalty among the customer.
Product positioning - In advertising, placing has arisen the method by which sellers make
sure that they create the image or personality in the minds of their customer. This will help
you to create the company position in market. It associates the product brand that will surely
mark the product feature or customer feature. Product can differentiate between quality or
price attribute and commonly help to maintaining the product positioning (Hyndman and
Athanasopoulos 2014). Brand placing arises whether or not a firm is positive in increasing a

spot, however, if controlling receipts an intelligent, revolutionary attitude, it can surely
impact its trade mark placing in the eyes of its mark buyers.
 It composes the reality of the product.
 Brand positioning maintaining the product power.
 It helps to identify the direct competition in market.
 Most convincing advantage to your goal businesses that your product be able to
specific relation to your rivalry.
Brand Equity Model of David Aaker: - brand is playing vital role now a day’s people
purchase products after seeing brand tag. Although brand equity is wide concept in term of
marketing and this is seeking more attention as per today’s scenario. Customers are main
focal point in term of marketing. Instead of this the same play vital role in adjustment of
demand and supply of goods and services. According to Aaker brand equity identify five
factors which are interdependent on each other. These are brand loyalty, awareness,
perceived Quality, brand association and other Proprietor. Firm can create their brand equity
with the help of sending message to their customers.
Brand Equity = Brand Awareness + Brand Loyalty + Brand association + Perceived Quality
+ Other Proprietary Assets
Explanation of these five Factors is given below:
Brand loyalty of customers help company in many ways in profit maximisation
because when people purchase product of particular brand as well refer to others also this
directly generate revenue (Masa'deh and et.al., 2018). When there are already loyal buyers of
products and services then there is no requirement of doing marketing and promotional
techniques. Existing customers help in attracting or grabbing new people and convert them
into loyal. Apart from this regular buyers not quickly switch to other brand they give time to
company for their competitive threats. Every organisation want loyal customers towards
products and goods they are supplying to their customers.
Brand awareness is that public have information about particular product and services. If
people know about brand then they give their best to purchase these goods and services. It
totally depend on strength of brand name, additional or not many union can be attached to it,
which will, in revolve, ultimately persuade brand awareness. Apart from this if customers

have positive attitude towards particular brand then they create awareness about it in market
and also to other persons also (Moin and et.al., 2017). While purchasing process is going on
brand consider in mind because it give different impact on their mind. Business consultancy
is providing such services for which awareness is necessary for purchasing.
Perceived Quality means allot when customers are paying for goods and services in
return they want good quality of same. In this brand play important role as well it creates
product differentiation. This help in competing with other company’s of same sector although
prices I best way for identifying quality of goods. In general it can be said that amount
charging by seller for product is indicator of its quality.
Brand association is playing crucial role in buying process of goods and services.
Extend is higher than its automatically high brand equity. As well it creates positive attitude
or feeling towards brand and help in brand extension also.
Brand equity model by Keller – this model is also named as customer based brand equity
model. Keller is professor in Tuck School of Business at Dartmouth College of marketing. At
that duration they develop this model and published it in his wide manner using textbook.
Concept behind this model is simple for building strong brand image people mainly apply
this model (Moriarty and et.al., 2014). Instead of this it also help in shaping customers
according to goods and services they are rendering as well make them feel about the same
which is important to sell products in market. Implementing same model gives several
positive results like if there is strong brand equity then customer will purchase more and
more goods. Moreover, refer to other people also to buy from that particular brand. Brand
equity model of Keller have four steps. These are stated below:-
Figure 1Brand equity Model

(Source: Pearson, 2013)
Step 1: Brand Identity – Who are you?
In first step of this model company have to create their goal “brand salience”, or awareness.
In other word it can be said that make such strategy so people can know about goods and
products they are serving. Basically in this brand perception from customers is collected that
what they are thinking about particular goods and services (Oladepo and Abimbola,2015). This
can be possible when purchasing process is going on.
Application- for applying this first company has to know who their customers are. After that
research is conducted that how they think about their brand. As well examine that is there are
several market segment. Analyisation done between their competitors also. When customers
are satisfied with their product then this is unique selling price of company.
Step 2: Brand Meaning – What are you?
Second step is for determine and communicating what brand means and foe what it stands.
There are two building blocks in this one is performance and second is imaginary. Where
performance means that who well product is fulfilling need and wants of buyers. As per this
model it consist five categories: product durability, reliability, style and design, service
effectiveness, efficiency and empathy (Pizzo and Poplack, 2015). On the other hand imaginary
states that in how much good manner customers need are fulfilled at social and psychological
level. Brand have to satisfy requirement directly (own experience with goods) and indirectly
(Targeted marketing or mouth publicity). Apart from this enterprise must be sure about their
offerings design and style because these things don’t let down (Salvo, 2015).
Application- experience of customers with brand gives direct impact on performance of
products. For building loyalty in market towards offering firm have to exceed expectations of
customers. Before applying this step company has to do market research and identify need,
wants of customer’s as well current market trend. So they do production according to that and
fulfil requirement.
Step 3: Brand Response – What Do I Think, or Feel, About You?
Response of customers is divided in two categories Judgement and feelings. Although
judgement falls in four categories: Quality, credibility, consideration and superiority. Instead

of this response can be given on the basis of that how they feel after using product.
Sometimes product make customer emotional when they use such goods.
Application- before it application four judgement points given above must be examine
properly. Some questions must be carefully considered what measures can be taken for
improvement of actual and apparent quality of products; how brand credibility can be
enhanced many more things must be focused.
Step 4: Brand Resonance – How much of connection would I like to be with you?
This is top of brand equity pyramid because brand resonance is most complicated and
desirable level to reach. It can be accomplished when customers having deep feeling,
psychological bonding with goods and services. Same is divided in four categories by Keller:
Behavioural loyalty, attitudinal attachment, sense of community and active engagement.
Application- goal of company is at last stage of achieving. This require extra care from owner
of business so they can generate revenue also which is required for sustaining in competitive
business environment.
Above mention both brand equity model help Business consultancy in capturing market,
generating revenue and in grabbing customers or in also creating new. Because this involve
several elements and features in it which play important role in growth and development of
business.
PESTEL analysis of business consultancy:
Question2: Critically application of Hollensen’s “Glocal Theory”
Standard and adaptive model:
Adaptive model – this model allow to applying substitute computational models within
imperative language. Adaptive model help in implementing changes in their organisation
which is necessary for remaining in competitive business environment it is necessary that this
model get adaptive only by the symbols. This already has been transmitted by since the
decoder requires adopting the model in similar manner. After that decompression procedure
and after that decoder know that they can apply this model in same way as coder. Adaptive
model has its three phases which is given below:-
 Assessment- this phase involve operational experience, monitoring, modelling and
research etc.

 Evaluation- second phase share findings & solicit review, evaluating significance and
implications, make recommendations for modification.
 Adjustment – third and last phase includes change landscape management strategy,
Alter implementation procedures and refocus monitoring, modelling or research.
Implementation of this model helps company in their marketing strategy which is important
for remaining in environment full of competition.
Standard Model – name of this model is given in 1970 and this is of practical physics. It is
theory which explains four famous fundamental forces that are electromagnetic, weak, strong
interactions and not including the gravitational forces.
Promotional Mix: Promotional mix method is the strategy in state to pull towards the clients
attractiveness. These tools are the mixture of encouragement methods utilised for increasing the sales
of the administration. Furthermore, the most important objective of the firm is to enhance the sales of
the goods in command to improve the enterprise picture. The same techniques contain public relative,
sales promotion, door to door sales and publicity. These tools and method endorse the offering of the
company to encourage the sales of the administration. Instead of this, promotional mix techniques
give ways to centre of attention on the refereed market customers which provide huge principles to
the customers. For instance, Business Consultants Ltd promotes its offerings with the assistance of
innovative ad which pull in the client towards the organisation products and services. Or they take
assist of societal platform to collect the customers details for contacting to them in future if required.
Promotional mix techniques used by Business Consultants Ltd.
Promotional mix Source Example
 Personal selling Face to Face selling, Trade
show
Company can implement this
encouragement method in state
to establish their offerings to
the buyers for instance,
respective Consultants Ltd
may advance clients straight at
trade show or can be with face
to face.

 Advertise Public press, television etc. Business Consultants Ltd can too
give Advertise of services
through the assistance of
television, magazines, Public
press and many more.
 Direct marketing Direct Mail, Online campaign. Given consultancy company
adopts straightforward selling
technique to encourage goods and
services of the organisation. So
that, client get attached and alert
about the offerings of Business
Consultants Ltd.
Valuation of the present promotional mix techniques utilized by Business Consultants
Ltd.
Business Consultants Ltd use straightforward selling method and tools in for gaining
attracting the client. On the basis of various company strategies administration increase the
merchandising promotional activities in order to provide information to customers about products
and services as well aware them also. For that, company require to make ingenious and innovational
encouragement scheme or programme before applying techniques. Like given firm implement direct
marketing tools and techniques this is very effectual for the firm to accept new enterprise market.
enterprise have the physical contact info or electronic mail of their clients. As per this, they forward
the email about the info of the organisations. For that they require to make sure that e-mail matter
must be short easy to see and direct accessible to customers. moreover, a further strategy which
administration adopts that is personal selling in which they agreement with the client on face to face
procedure. Furthermore, this is effectual method in status of accomplishment client attraction.
Moreover, this technique has one drawback in terms of gaining unsupportive effects like , because of
lack in communicating or written language client does not get the E-mail or data of the organisation.
Thus, that will provide incorrect communicating which results to disarray (Stuart, 2014).
Thought of different promotional mix scheme which could be utilized Business
Consultants Ltd.
There are two promotional mix strategy: Above the line and below the line is taken as the
marketing practices. These are utilised to divide the merchandising activities. Above the line is that

strategy which had collective penetration. On the other hand, those which had particular penetration it
describes above the line. These activities have enhance due to huge competition in the market.
Above the line: this scheme means to the selling plan of action in which enterprise exclusive
support the brand picture somewhat than its goods and offerings. Although with that, it consider
aggregate marketing scheme whose main motive is building brand image in the business environment.
For instance of marketing strategies used by above the line are broadcasting, TELEVISION, Print
Advertisements, the main usefulness of this marketing strategy is broad reach, good link with
gathering, brand building and so on.
Below the line: this is one more merchandising activities which are below the line in this
enterprise mainly eyes on the referred group of clients. Their major purpose is on the marketing the
offerings to the clients at any price. In this procedure administration focused on the direct marketing
strategies like as out-of-door advertising, direct mail marketing, sponsorship, store marketing and
many more. The main helpfulness of this strategy is to they particularly centred on the client service,
good ROI, easy control etc.
Marketing mix of Business Consultancy:
Product- business consultancy don't have physical evidence of their products because they
are rendering services. Before delivering services attributes or opinions of customers must be
collected.
Price- this is the main competitive advantage through which they can attract more and more
customers towards their services. It can be possible by discount coupons, special unique
prices and most important by reducing cost.
Promotion- for promotion techniques advertisement and mobile campaigns along with this
detail information about the product should be provided to clients. Main motive of promotion
is to create interest about the products they are serving.
Place- possibility to purchase instantly and ubiquitously.
Process- providing consultancy related to anything is process because in this firstly issue
must be identified so related to that services can be render.
CONCLUSION
From the above assignment it has been concluded that business require several
marketing strategies and promotional techniques to sell their goods and services in market.

Although from this procedure company generate revenue which is necessary for survival and
growth of business. Business consultancy Ltd. Is organisation of Hong Kong which render
services related to consultancy like which marketing or promotional tool is best for company
and at what time they have to apply it. So they gain better outcomes as well fulfil need and
wants of customers. Because customers satisfaction is more important and play vital role in
development and growth of business. When respective company apply several brand equity
theories in their day to day practices it helps them in maintaining themselves in rivalry
environment.