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Rational in Buying - Case Study Example
Author : miller41
Pages 19 (4769 words)
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…
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 ...