32
Improving Working
Capital Management is needed They is need for payment of dividends not to convert them into equity
Reduce Debt Finance.
Recommendations As away to boost awareness of the brand BNC, it is recommended that they engage in celebrity endorsement which is a form of advertising campaign or marketing strategy which involves celebrities or a well-known person using their social status or their fame to help promote a product or a brand. The right choice for an endorser can be important decisions for an advertiser especially trust is paramount as researchers suggest that advertisers using celebrity endorsement should feature an attractive celebrity who is perceived to be trustworthy to best influence both their low and their high involvement consumer base. Another recommendation is to effectively make use of digital marketing tools especially a website that attracts a wide audience. Fora
website to meet good standards, it must have the following characteristics availability, where the site must be easily accessible at any given time regardless of geographical location, it must be relevant
with updated information, it must have clarity and also credibility which aims to gain customer trust through providing physical addresses, contact details and also give room for feedback and interactivity. In this case, BNC should design a clear website which meet the above mentioned qualities so that the brand can be more appealing to the international world.
Apart from website, they can also make use of social media platforms like Facebook, to create awareness and market their product to the rest of the world.
Co-branding or brand alliance is another option BNC might consider and this is whereby two or more existing brands are combined into a joint product or are marketed together in some fashion for example in the case of Sony Ericsson. The main advantage of this is that the company may borrow needed expertise, leverage equity they might not have and broaden meaning and scope in general.
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