Know your brand: Know your customer (Lance& Woll,2006,p17)

When it comes to manufactures or wholesalers, the vital part of marketing information is the price. The price is a vital means of communication between the manufacturers and the customer. However, on its own, the communication becomes stilted. Other additional areas that would strengthen the bond between manufacturer and consumer are; consumer research and advertising research. For example, from doing some consumer research, we know that the best way to control consumer demand is by either reducing or increasing prices. Also, by doing our advertising research, this gives the consumer a more in depth knowledge of the products they are trying to sell. It also gives the manufacturers a chance to suggest new and innovative ways that the consumer can use their product. Thus, generating a better experience when using the product in question. By doing this research, the manufacturers are opening up a dialogue between themselves and their consumers and in turn create a response from them. For instance, receiving the answers to questions such as, how is the (brand) conversation going?