Rational in Buying

Masters
Case Study
Business
Pages 19 (4769 words)
Download 0
Branding is all about creating differences. Brands identify the source or marker of a product and allow consumers to assign responsibility to that particular manufacturer or service. The four steps to a strong brand are:
A brand is judged by its salience, performance, imagery, judgment, and resonance…

Introduction

The 4 Ps of marketing refer to Product, Place, Promotion, and Price. Each of these elements plays an important role in the success of a brand and has direct influence on the demographics mentioned herein.
No product or company can survive competition or sustain its identity without asserting itself on two basic components in marketing: Image, and people. If not managed properly, these components can break a brand. Brands and people have to be owned, nurtured and developed by an organisation. They are the ultimate differentiators and value creators. Companies such as Pepsi, Coca cola, Levis, and Cadburys are examples of well managed brand companies. So powerful is a brand, that unless harnessed properly, sustainability, popularity, and growth of the product can be at stake.
Relationship between the product and the customer, and the personality the brand associates itself with. The consumer obviously would like the personality traits to be that of his own. Characteristics that brands would like to associate with are a sense of dependability, understanding, and caring; a friend who is always there to care, respect, comfort, and enjoy (Brand Personality-The relationship Basis Model, groups.haas.berkeley.edu).
It was thought that companies were responsible was the creation o ...
Download paper
Not exactly what you need?

Related papers

Do Consumers Really Make Rational Decisions?
To be able to answer the question regarding the rationality of the choices made by the consumers, it is important to explore the issues related to the decision-making process of the consumers. There are different internal and external factors that can affect the choices of the consumers. …
Impulsive buying in luxury consumption among Chinese consumers ( table of contents )
The number of affluent households (whose annual income exceed RMB 250,000) in China is expected to reach 4.4 million by 2015. With the growing affluence in China and the demand for luxury brands on the rise, marketers need to evaluate the needs and wants of the luxury consumers. Thus, with the aim to evaluate impulsive consumer buying behaviour in the luxury segment in China, three objectives were…
Buying Decision - a New House
Key words: House, Economy, Domestic Economy, GDP - Gross Domestic Product, BEA - The Bureau of Economic Analysis, purchasing power, inflation, international trade. John & Tia are living in a rented studio apartment at a location near to their offices and commercial area which is ideal for them. However, they are expecting a baby and require bigger space to have room for baby’s nursery and a…
Buying and Merchandising Essay
People especially the young generations are becoming highly brand conscious and the marketers are using this factor of consumer behavior for the marketing planning which includes promotions and mainly the sales plan (VERDICT, 2006, p.4). Pricing and promotions are the two key are of marketing plan mainly for apparels and fashionable accessories of women as well as men. At earlier day’s top…
Rational in Buying Research Proposal
Harrison-Walker (1995) states that it appears that age demographics receive 'scant' attention in the marketing communications literature. Figure 11 shows a general outline of the overall research process as well as a guideline on the structure of the project itself.…
Buying Behaviour
They gave maximum importance to time saving, followed by ease of preparation, family health, and taste. Their choices of brands were entirely different.…
Rational in Buying
The 4 Ps of marketing refer to Product, Place, Promotion, and Price. Each of these elements plays an important role in the success of a brand and has direct influence on the demographics mentioned herein.…