Novice marketers are typically unprepared for the challenge of promoting brands and products in the competitive arena.
Advances in technology and the marketplace itself have made it necessary for businesses to stay on top of the latest trends and strategies. The consistent application of solid marketing principles is one of the few business requirements that has stayed the same.
Some marketing initiatives lend themselves to simple measurement while others are more challenging. Direct mail can be evaluated by tallying the cost of inputs (e.g. a premium mailing list, printing, postage, etc.) and measuring the number of customer responses you receive from the campaign. The difficulty comes when you are tasked with quantifying market presence and brand influence. Fortunately, media monitoring has the ability to give your Ethiopian restaurant a sense of market presence and other variables that are difficult to quantify. Although media monitoring is not the only tool for measuring intangible brand qualities, it has the benefit of highlighting negative PR, giving your Ethiopian restaurant the ability to control bad buzz when it appears in the marketplace.
Why Branding Matters
A good brand has value for both your balance sheet and earnings statement. Any and every Ethiopian restaurant has brand characteristics. Some brands struggle to achieve recognition with consumers while others seem to be quickly embraced by the marketplace. Companies that incorporate brand positioning into their normal marketing routines gradually accumulate higher brand values and are rewarded by consumers.
Discounts drive purchasing decisions, and Ethiopian restaurant consumers fit the pattern and factor discounts into their spending decisions. The power of a great discount is its ability to convince buyers that are receiving special treatment, a deal that isn't ordinarily available. However, for consumers located in the Ethiopian restaurant sector, value discounts need to be attractive when stacked against the competition. For better results, consider rotating the products you discount to incentivize customers to monitor your marketing channels.
Given your interest in marketing and in Ethiopian restaurants, you might find these additional resources to be of interest.
For those who want to open an Ethiopian restaurant, here are some more appropriate better resources for you:
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