Final answer:
Managing expectations is a crucial aspect of branding that involves setting and meeting customer and employee expectations realistically. It includes rational expectations communication, effective social marketing, and employee accountability. Balancing expectations with consistent performance is key to ensuring trust and satisfaction.
Step-by-step explanation:
Managing expectations is a critical sub function of branding. In the context of business and branding, managing expectations refers to the strategies and practices that an organization employs to ensure that customer perceptions and experiences align with the company's brand promise. This process involves setting the right level of expectations for what a product or service can deliver and then meeting or exceeding those expectations through consistent performance and quality.
One aspect of managing expectations is the communication of rational expectations. This involves forming the most accurate possible estimates about the future using all information available, which is essential for both consumers and employees. From a branding perspective, conveying a brand's values and the benefits of its products or services realistically helps to build trust and prevent customer disappointment. Additionally, incorporating feedback and being willing to adapt also play a significant role in effectively managing expectations.
Social marketing is another aspect where managing expectations is key. Campaigns often use symbols or flagship species to evoke the desired emotional response, trust, and pride in the target audience. Clear, vivid, and personal communications enhance these campaigns, making them compelling and effective. Pride in the local environment, in the case of environmental campaigns, can motivate behavioural change essential for the campaign's success.
Furthermore, within a workplace, employees are expected to remain accountable for their actions and outcomes, often with flexibility in the face of changing priorities and assignments. In jobs, managers may highlight their expectations at the beginning, and employees are held accountable for meeting these expectations within the scope of their roles. This accountability emphasizes the importance of managing expectations internally within an organization as well.