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Five steps for How to maintain Goodwill.

Five steps to follow for the purpose of Goodwill.

 Following are the five steps which are necessary part for making goodwill.



(1) Reputation =

Reputation plays vital role in developing good will for any organization. It is gained by making million worth efforts and sometimes it becomes tough to be maintained but successful organizations used to apply many tricks to maintain and keep the reputation in balance.

(2) Dominant shares =

Goodwill cannot be maintained or be gained without having large no of shares, not only this but these shares must be dominant in market over other organizations, which means the shares value must be better than competitors  share value.

(3)  Powerful Advertising =

Advertising is something which spread awareness and the true message about the vision of any business. Powerful advertising helps the business to grow effectively. Many businesses make the advertisement which attracts the viewer emotionally, socially and economically. Powerful advertising may include different kinds of discount offers, original and quality products and perfect medium for advertising e.g.  T.V, social media, radio channels, posters, newspaper, sign boards etc.     

(4) Quality services =

Services are the main foundation of goodwill for any business. If business provides best services to everyone connected with the business or any organization then it will increase the popularity of the business. Quality services includes during sales services and after sale services.

(5) Management =

People inside the business or organization have major effect over the people outside the organization. It is highly depends upon the management and all the employees to look after all the services whether it is related with the manufacturing activity, operational activity or it is related with other departments of an organization. If the management provides the best services this will leads to increase the worth of organization which develop the Goodwill.    
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