Nowadays, the important for adopting various methods for selling products, which attracted numerous controversies and drawn the attention from the public. It can be said that the reputation of a company is crucial to sustain profits in the long term, while on the other hand stands a perspective that discount and offers cam attract a higher number of customers. This essay will elaborate on both sides and thus will lead to logical conclusion.
At the outset, there are numerous reasons why company’s reputation is important for company’s success, and the most conspicuous one steams from the fact that it helps to cultivate customer loyalty by which the consumer is more convinced to buy a product of a previously established brand irrespectively. For instance, the reputation of a business can enable it to differentiate its product in highly competitive markets, allow it to have premium pricing, and become the ultimate factor for customers to patronize one business over another. Therefore, reputation of a company can retain customers on a long term basis.
Nevertheless, some people hold an opposing view and tend to believe that discounts and free offers help in attracting more customers, which increases the customer base and contributes to a lucrative business. For example, customers are inherently drawn towards products that are on discount and find them irresistible as they reckon they are getting better value for money. Hence, discounts and free offers help in accelerating the profits as well as attracting new customers.
In light of discussion above, it can be concluded that the success of a company based on reputation of a company is prominent, although the way discounts and free offers increases the customer base should not be overlooked.
