We can always find various annual momentum on our business calendar. The momentum is described as the occurrence of massive demand and movement in the market within a time span. This becomes an opportunity that business awaits to increase sales and revenues. Indeed, not all businesses have the same exact momentum. Yet each momentum has broad and thorough impacts and is associated with many business fields.
Business and momentum are two things which are closely related one and another. The relation between the two things shows how business-and-consumers mutualism is built up. For the business, momentum is a basic requirement since it is targeted to maintain the balance and sustainability of production, demand, sales as well as profit. In addition to the general organic momentum, businesses also create their own momentum.
One of the organic and possibly the biggest business momentum in Indonesia occurs in Ramadan and Eid Al-Fitr every year. Almost all business lines - from small to multinational businesses - take advantage of this momentum optimally through various means and strategies. Although Ramadan and Eid are great celebrations of Muslims, in a business context, this moment is seen as a huge opportunity because it is responded by the increasing number of massive needs. Various business and economic dynamics occur, such as strategy, promotion, product and service creation, price dynamics and so on.
So how does the brand respond to business momentum? How does the brand play a role in facing those momentums? Basically, the brand has a significant role needed when facing the momentum, both organic and created. Here are some ways a brand perspective responds to business momentum.
1. Brand to improve competitiveness
Observing the dynamics of business momentum, it is conceivable that over time high demand increases. Consumer behavior is also changing temporarily, especially in terms of buying decision that is shorter, but on the other hand consumers, today are increasingly critical in making choices. The supply responses proactively and cooperatively; it also increases, both from existing business and from seasonal efforts. Looking at this condition, the competition becomes an unavoidable challenge. The expected goal to achieve from offering products and services is that becoming consumers’ top of mind and for sure be their priority choices.
In this case, brands thrive for identity and promise. Consumers tend to prioritize a well-recognizable brand for the products they choose. When they’ve ever got a satisfactory experience, it will be great added value for them in determining buying decisions. So, winning business momentum requires careful preparation within some period of them. One of them is by preparing business identity which is easily recognized, memorable, and rich of the satisfying buying experience. By doing so, the brand guarantees an early consumer base. This strategy is also very good for maintaining existing customer loyalty.
Continued to part 2 >