The effect of offer value and prestige on brand awareness growth

Abstract

Tourism is becoming a promising branch of the economy at this time, the driving force of business in the service sector. Studies in Russia and internationally suggest the industry is highly competitive. To attract tourists and keep them happy, it’s important to focus on what makes your industry special compared to others. In order to remain competitive, it is necessary to use innovations which remain a research subject and under discussion. The value proposition is playing an important role in this. Innovation drives sustainable competitiveness, attracting tourist flow. Turning to the innovative marketing concept, which involves some activities as an integral part of this process such as the study of behavior patterns and potential customers needs, product development, a new product launch in a special place, price and promotion, one could be argued that each part of this concept is designed to keep the unique identity. The competent formulation of a value proposition and its promotion through various communication channels helps to explain the product around customers’ needs. Finding new customer needs should be the focus of such an offer. It should be innovative in order to stand out from the other companies’ offers, convincing the target audience to purchase your brand’s product, but not a competitor’s product. The purpose of this paper is to analyze brand awareness using the example of a farm or cheese factory. To do well in a competitive market, you need to stand out from the crowd. You can do this by offering something special that your customers will want and by making sure they know who you are. The advantages include innovations, which lead to emerging of additional needs, enhancing the market capture. The use of marketing tools is an integral part of an innovative marketing concept that allows you to enhance brand awareness.