Marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

Posted by Zander Henry on Aug-22-2018

1. The vision of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

The vision of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java is to be the leading quality service and product provider for customers. Being the best and the leading player means that Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java marketing strategy and operations focus on:

• Providing high quality of products and services
• Providing value to customers
• Concentrate on building customer experience

2. The mission of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java marketing strategy is grounded in its mission. The mission for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java is to be the favorite brand of the customers. This mission is essential for the marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java as it focuses on all operations and marketing activities in the direction of:

• Consumer centrism
• Using research to understand and influence consumers

3. Brand Equity of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

Understanding and knowing the brand equity is vital for directing and giving meaning to the marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java. The knowledge of brand equity will help in shaping Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java marketing strategy effectively – thereby facilitating the growth of business for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java.

3.1. Brand awareness

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has high brand awareness because of international operations
• The company focuses on higher budget allocation in the country of origin
• Each market for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has modified marketing and strategic directives and plans

3.2. Brand association

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java is directly associated with the brand name and product category
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has a broad product portfolio
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java is associated with promising and delivering quality and innovative products
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java is also associated with excellent customer service

3.3. Brand loyalty

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has been successful at gaining high consumer loyalty because of unique and influential marketing strategy
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has a global customer base
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java keeps adding value addition to the products and product portfolio to keep consumers engaged

3.4. Brand asset

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has a substantial brand value
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also enjoys the high financial worth
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java focuses on building a reliable and robust employee base

3.5. Brand element

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java uses the brand element as a means of competitive advantage
• Uses adaptability in product, services, and marketing to meet different cultural demands

4. Situational Analysis of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

The situational analysis will help in developing the marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java by conducting a thorough market analysis. This market analysis will aid in understanding the compatibility between external opportunities and other factors, and internal strengths – to be used to maximize the marketing influence of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java.

4.1. SWOT

4.1.1. Strengths

Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java marketing strategy can benefit from the following internal advantages:

• Strong brand image
• Global distribution network
• Investment in market research
• Innovation

4.1.2. Weakness

Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java faces challenges in marketing strategy because of the following weakness:

• Slow organizational processes
• High product prices

4.1.3. Opportunity

Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has the following possibilities of business growth:

• Green lifestyles
• Regional expansion
• Diversification

4.1.4. Threats

Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java faces business threats because of the following factors:

• Increased competition
• Increased imitation

4.2. PESTEL

4.2.1. Political

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java operates I markets with political stability
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has funding support from the government for small businesses

4.2.2. Economic

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java enjoys high sales because of higher GDP
• Lower interest rates make business expansion and loaning easier for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java
• Low inflation strengthens the financial position of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

4.2.3. Social

• Higher education and awareness increases sales of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java predict
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java focuses on understanding consumers and fulfilling their demands through its offerings

4.2.4. Environmental

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has an active CSR program
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java ensures environmental safety in all its operations

4.2.5. Legal

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java is aware of local and global laws of business and human resource management
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java abides by all statutes – especially labour law, discrimination law, and employee safety laws

4.3. Porter’s Five Forces

4.3.1. Threat of substitutes

• High risk of replacements
• Substitutes offer similar products at low prices

4.3.2. The threat of new entrants

• New entrants need high financial investment
• New entrants need updated technology for keeping par with industry progress

4.3.3. Bargaining power of buyers

• Sales made to end consumer directly
• Stocking of products at retailers, as well as own-controlled retail outlets

4.3.4. Bargaining power of suppliers

• Multiple suppliers of raw materials
• Suppliers are chosen after careful inspection, and through contracts

4.3.5. Industry rivalry

• High industry rivalry
• Players offer similar products
• Players compete through marketing to influence consumers

5. Marketing Objectives for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java: The Marketing Strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java marketing strategy has the following objectives for the current financial year:

5.1. Increased market penetration

• Increase top of mind recall for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java brand and products by 30%
• Increase sales for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java by 40% by the third quarter of the financial year
• Achieve a trial rate for new products of 10% during the first quarter of the launch
• Increase consumption rate of existing products by 45% during the current financial year

5.2. Enhanced brand recognition

• Increase top of mind recall by 65% during the current fiscal year
• Increase brand recognition by 80% during the first two quarters of the current financial year

5.3. Increased use of digital marketing

• Acquire 25,000 new online customers during the financial year
• Increase website traffic through using blogging and email tactics effectively by 505 during the first two quarters of the year
• Acquire 65,000 likes on the official Facebook page of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java during the first quarter of the financial year

5.4. Retail Growth

• Contract with five more leading supermarkets in the first quarter of the year to stock product at eye level shelving
• Contract with two leading online retail sites – eBay and Amazon – to stock our products, and increase accessibility for consumers globally by the second quarter of the financial year

6. Segmentation of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java marketing strategy uses different means of segmentation to reach an increase in market penetration.

6.1. Demographic segmentation

6.1.1. Age

Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has consumers of age groups

• 20-45 years
• 45-60 years

6.1.2. Gender

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has a broad product portfolio for both males and females

6.1.3. Life-cycle stage

Consumers for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java, according to the marketing strategy, are in the following various life cycle stages:

• Single students
• Single graduates
• Single people living at home/not living at home
• Young couples without children
• Married couples with one to four children – all at home
• Married couples with one or two children in college
• Old married couples with an empty nest

6.1.4. Occupation

The marketing strategy devises the following occupations for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java consumers:

• Professionals
• Students
• House makers

6.2. Psychographic segmentation

6.2.1. Social class

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java focuses on segments of middle-upper and upper social classes

6.2.2. Lifestyle

Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java consumer segments have the following lifestyle characteristics:

• They aspire towards a better and higher living standard
• They want to be successful – professionally and socially
• They are not hesitant to try new things, products and services in life
• They are confident in their behaviour and attitude
• They are mainstreamers in their fields

6.3. Geographic segmentation

6.3.1. Region

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has operations spread across the western developed countries such as America, the united kingdom, and the Netherlands
• It also has operations in emerging markets such as Brazil, India, and China

6.3.2. Density

• The focus of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java remains on the urban part of the population

6.4. Behavioural segmentation

6.4.1. Personality

The marketing strategy defines personality characteristics for the consumers of the brand of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java, such as:

• Determined
• Confident
• Ambitious
• Hardworking

6.4.2. Usage frequency

• The consumer segments for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java are regular and frequent users of the product

6.4.3. Benefits sought

• Consumers seek functional benefits
• The focus, however, is more on the emotional benefits reaped from the consumption of the brand

6.4.4. Degree of loyalty

• Consumers are very loyal
• Have an emotional attachment with the brand

7. Targeting of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java Positioning of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

The marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java targets consumer groups based on segmentation as follows:

7.1. Target market

• The target market for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java is from middle to upper class
• The target market is ambitious and desires to purchase high-end consumer products
• This target market also seeks affordability
• To meet target market expectations, the Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java focuses on quality control

7.2. Mass marketing

• The marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java focuses on mass marketing
• This also requires unique marketing designs and product promotion programs
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java makes use of one strategy to influence all segments

7.3. Undifferentiated marketing strategy

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java does not differentiate between market segments
• It uses a single marketing strategy to target all segments and consumer groups
• Based on this, Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also created the marketing mix under the marketing strategy as a singular one for the whole market – regardless of the segmentation divides.

7.4. Focus on quality

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has created, developed, and maintained a brand that satisfies all consumers under the undifferentiated marketing strategy and mass marketing
• No compromise on quality has been made in the broad product portfolio
• To ensure the influence of a single marketing strategy, the Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has also adopted a consumer-centric approach in its overall marketing strategy and operations as well
• This was used for targeting strategy as well as for maintaining growth

8. Company Competitive Advantage in the marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

The marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java stands out from the clutter and competition. Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has also achieved a sustainable competitive advantage in its marketing strategy. This is because of the following factors that Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has utilized:

8.1. Cost-effectiveness

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java focuses on reaching consumers effectively rather than grandeur
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java focuses on developing an integrated marketing approach
• The use of digital marketing efficiently and expertly has helped the company reach a wider audience at a lower cost
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has in-house copywriters for marketing campaigns which also helps in controlling costs
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also focuses efforts on ground activities – which are less expensive than commercial marketing tactics

8.2. Innovation

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has stayed updated with latest developments in marketing research and marketing knowledge
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java makes use of new and innovative tactics to reach its target consumers
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also employs top of the field marketers to facilitate its marketing strategy and promotional campaigns
• Each marketing campaign launched by Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java is effective catchier and more influential than the previous one

8.3. Strong market research and consumer understanding grounded

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java marketing strategy is strongly grounded in consumer and market research
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java makes informed marketing campaigns and goals based on consumers’ behavioural feedback
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also incorporates consumer feedback in its marketing strategy
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java marketing strategy is based on market trends, and consumer needs and wants

8.4. Making effective use of emotional appeals

• Consumers’ emotional needs strongly influence all marketing objectives and marketing goals set by Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java
• In addition to fulfilling functional needs, Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also tries to fulfil the emotional and psychological needs of the consumer
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java tries to build a strong emotional bond with the consumer, which also results in high consumer loyalty

9. Distribution Strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java marketing strategy highlights the use of the following distribution strategy to maximize reach and accessibility for consumers.

9.1. Intensive distribution strategy

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java makes use of intensive distribution strategy because it is mass marketing
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java’s marketing strategy is based on undifferentiated segments, and thus an intensive distribution strategy allows high penetration and reaches in the overall market
• With the use of the intensive distribution, Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java tries to maximise its coverage of the markets where it's present
• For achieving the intensive strategy, the company uses hardcore 360-degree integrated marketing strategy and campaign to reach all consumers, across all segments in the market.

9.2. Direct distribution strategy

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java uses direct distribution country of origin as well as in locations where it has subsidiary operations
• The Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also makes use of modern retailing channels
• Also, Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java makes use of e-commerce and makes a sale through online retailers, as well as through the company website
• Direct distributions have allowed Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java to increase market penetration and accessibility for consumers

9.3. Indirect distribution strategy

• This strategy is largely used for offshore operations where the Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java does not have a subsidiary
• In these offshore locations, Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java largely works through the export model
• This makes use of several intermediaries in between, before the product by Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java reaches the target consumers
• Intermediaries for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java include not only the end retail outlets, but also sales agents, retail agents, and distribution agents in offshore locations

9.4. Selective distribution strategy

• For some products of its portfolio which are premium in nature, Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java makes use of selective distribution channel
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has maintained a few outlets in the country of origin, and in selected offshore markets for these products
• These placements and locations are chosen based on the niche market that Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has for its premium products
• These locations, placements, and marketing strategy helps make the company’s product selectively, but readily accessible for its niche target audience

10. Competition Analysis in the marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

The industry in which Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java operates is very responsive to market and consumer trends. Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java, therefore, needs to be vigilant in its market strategy towards competition – to make sure that it maintains its competitive advantage.

10.1. Strategic Group Analysis

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java competes with direct and close competition based on quality and price
• Consumers choose between different companies from the industry based on their functional offering
• Consumers have progressively evolved to strengthen loyalty and form an emotional bond with products that they consume
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also competes, thereby, with close competition for building stronger brand image, increasing consume loyalty, and for forming strong emotional ties with the consumer

10.2. Industry rivalry

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java experiences high industry rivalry
• The barriers to entry for the industry are low, and new entrants gain easy access in the industry
• The number of local as well as global players is increasing

11. Marketing mix of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

The marketing mix for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java as per the marketing strategy is the following:

11.1. Product

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has a broad product portfolio
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java provides mass marketed products for all segments across the market undifferentiated
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also provides some selected, premium products to niche customer groups
• All products in the portfolio consistently maintain high quality
• All products are tailored to meet consumer specifications, demands and needs across different regional markets
• The Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java maintains a high focus on innovation in products and introduces new products frequently to keep the consumers engaged

11.2. Place

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java wants to have a close, emotional and personal relationship with its consumers
• The company maintains high control in its distribution strategies – especially through direct distribution strategy
• The company has a presence in leading supermarkets
• The Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also has company-operated stores in malls, and otherwise to make products accessible to consumers easily
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also makes use of e-commerce to increase penetration and sales

11.3. Price

• The Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java prices its products so that its target consumers can afford it easily
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java uses relative pricing strategy for its products
• The price of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java’s products include not only the high quality raw materials and value additions but also the enhanced customer experience they deliver
• The company’s pricing strategy allows it to enjoy stable revenue and profit growth

11.4. Promotion

• The Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has a high budget allocated towards marketing activities
• The Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java invests substantially in digital marketing activities to reap high and effective results
• Use of digital marketing has also allowed Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java marketing strategy to cap costs and expenses
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also takes part in direct consumer engagement through on-ground activities where the company initiates trials
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also invests in traditional media channels to reach maximum consumers in the market

11.5. People

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java has a large workforce across different companies
• This workforce is continually trained to become experts in their respective fields of operations
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java hires without discrimination
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java ensures that its employees remain motivated through building an inspirational and creative organizational culture
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java focuses on also building and maintaining organizational commitment and loyalty in its employees

11.6. Process

• All activities at Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java - from raw material procurement to the final sale to the end consumer - undergo systematic processes
• The processes at Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java are well defined, and well communicated to all employees
• All employees are trained to follow the processes internally to ensure consistently high quality as well as timely production and deliveries
• The systematic processes also ensure a smooth running of operations at the Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

11.7. Physical evidence

• The physical evidence for Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java includes the company logo, company store designs, and the product packaging
• Satisfied and excited customers in the retail spaces of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java, as well as during product consumption create a bubbling and an inviting atmosphere
• The e-commerce website for retail by Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java is also designed with a friendly customer interface to allow maximum interaction with the brand
• The store designs created by Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java for its retail space allow consumers maximum interaction with the products directly.

12. Promotional tactics for the marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

12.1. Digital marketing

• The company uses social media for reaching consumers effectively
• The Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java interacts with the consumers directly, and engages with them, answers their queries and takes their feedback
• The company also shares information and build relationships with consumers through digital marketing
• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java also makes use of blogging, emails, and content creations as a means of digital marketing

12.2. Conventional marketing

• The company uses a 360-degree approach in its marketing strategy
• This means that the company makes use of traditional marketing channels as well – such as TV, magazine adverts, and out of house placements

12.3. Influencers

• For direct, on-ground engagement, the company uses influencers
• Influencers interact with consumers directly, or through their channels of communication as a means of content creation and endorsing the Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java brand

13. Monitoring and evaluation of the marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java

13.1. Changes in sales

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java regularly tracks its sales to identify the effectiveness of its marketing strategy
• Increase in sales reflect the success of marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java
• Sometimes, Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java experiences increase ins ae after some time of the launch of the marketing promotions

13.2. Surveys and focus groups

• Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java frequently conducts focus groups and surveys to identify its brand worth
• These methods also help the company identify brand value, brand recall, and brand recognition
• Focus groups allow Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java to gather feedback on its marketing strategy and helps it understand consumers better

13.3. ROI

• Effectiveness of marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java can also be seen through the revenue and profit growth
• Return on investment allows Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java to effective gauge the effect and influence of the marketing strategy, and measure its success

13.4. Attainment of marketing objectives

• All marketing objectives set by Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java are SMART
• The quantitative set against each of the marketing objective can facilitate attainment evaluation for the overall marketing strategy
• Successful and timely attainment of these marketing objectives highlight the success of the marketing strategy of Business Environment and Company Reputation in Formulating Competitive Strategy of Rural Bank in West Java