With growing competition in the marketplace, firms are engaged in a constant search for better ways of communicating the various features of their products and of marketing them effectively. With media proliferation, firms have found traditional marketing and communication methods wanting in terms of their return on investment. Many other factors like more educated and demanding customers, shorter product lifecycles and growing competition have also added to the problems facing firms. Intent on acquiring new customers while retaining the old, firms turned to branding. Previously, the effectiveness of traditional forms of communication and marketing were adequate in brand building. An increasing number of firms producing similar products led to an enormous growth in advertising. Consumers were subjected to a constant barrage of advertisements. As a result, they have become more skeptical and developed a mental block towards traditional communication and marketing. Taking advantage of this, some companies have developed software and hardware that help consumers block out advertisements that they do not with to view. Due to the above circumstances, firms have had to look at new and innovative approaches to brand building that would deliver results, especially in terms of ROI. This book looks at various new approaches that have developed in response to these challenges. It also examines some issues connected with these new methods and outlines how several firms have successfully used them to develop enduring brands.
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