Final answer:
To build a successful brand, companies should monitor the competitive environment and deliver a product that provides value, fostering a good reputation and consumer trust.
Step-by-step explanation:
In order to build a successful brand, companies should c. Monitor the competitive environment and e. Deliver a product that provides value. Monitoring the competitive environment is vital for understanding what competitors are doing and how to differentiate the brand effectively.
Delivering a product that provides value creates customer satisfaction, which can lead to repeat business and recommendations. It is important to establish a good reputation as it influences consumer trust and willingness to purchase products at a premium.
Ignoring negative feedback, frequently changing brand messaging, and creating different brand images for the same product can confuse the audience and weaken the brand's position in the market. Strong branding is achieved through consistency, value, and understanding of both the market and consumer needs.