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Effect of social media on branding
Review of brand awareness
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INNOVATIVE BRAND AWARENESS CAMPAIGNS
INTRODUCTION TO BRAND AWARENESS Brand awareness is the degree to which likely customers distinguish a brand and the accuracy with which they link it to a particular product. Creation of brand awareness is one of the key steps in promotion of a product, especially in the introduction stage of the product life cycle.
Commodity related products need brand awareness, since there are very few factors that them apart from their competitors. Hence, the product that retains the maximum brand awareness gets the most sales.
OBJECTIVES OF BRAND AWARENESS
If a company has brand awareness in a particular industry, it certainly has an edge over its competitors. Brand awareness helps achieve numerous objectives for
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For instance, a company would adopt a different customer awareness strategy be it for toys, or car accessories or walkers for people with issues of motility. For the customer to understand the advantages of working with a particular company, every business has to overpower certain challenges.
Publicize the Website:
Since customers are no longer limited to buying from a specific geographical location, a website helps in the generation of a worldwide customer base. Instead of actually visiting the company location, a customer may just research the product online and then follow up with the help of a catalog or phone order. Bringing in a graphic designer can aid a business in depicting the image they wish to portray. Harmonizing business cards, materials used for marketing and further advertising all further strengthen customer awareness.
Add
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A campaign that leaves a lasting impression in the minds of customers and they are induced into purchasing the products and services offered by the company. Some examples of innovative brand campaigns can be seen below:
1. UNIQLO
Uniqlo is a Japanese company. It is a designer, manufacturer and retailer of casual clothes for all kinds of people.
Growth:
Idea: PARTNER WITH OTHER BRANDS
Uniqlo sponsored free admission into the Museum of Modern Art every Friday. This enabled them to get their name in front of a brand new audience that they probably may have never reached before. It also creates positive word of mouth from people who get to enjoy the museum free of cost, compliments of the clothing company.
Lesson:
Partnering with an already established brand enables a company to inherit their image and reputation along with creating brand evangelists beyond their customer base.
2. DROPBOX
Dropbox is a free service that enables users to share photos, documents, videos and files. Anything that is added to Dropbox automatically shows up on the users’ computers, phones as well as the Dropbox website.
Burlington is a national off-price apparel, home and baby products retailer, operating in the United States and Puerto Rico. The stores offer great value to customers by featuring high-quality, primarily branded apparel, home and baby products at “Every Day Low Prices”, to deliver savings of up to 60-70% off department and specialty store regular prices. The company operates more than 543 stores under the Burlington Coat Factory, Cohoes Fashions, Super Baby Depot, MJM Designer Shoes and Burlington Shoes nameplates. The average store size is approximately 80,000 square feet, more than twice the size of their largest off-price competitors’ stores.
A brand audit is a detailed assessment of a brand’s current ranking in the market compared to other competitors. It provides information on how the business is performing in the market. A brand audit also aims at examining the image and reputation of the brand as perceived by customers. The two key elements of brand audit are brand inventory and brand exploratory. Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand. It seeks to conduct a consumer insight research in order to acquire consumers’ feelings and perceptions. This paper looks into the brand exploratory aspect of auditing under the customer-based brand equity (CBBE) model.
People are buying the product which gives them prestige. Marketers have interest on consumer psychology and they are playing with every day by showing that their product will give prestige in the society. It’s true that the transparent societies now needs brands image. Marketers analyze the interest and needs of consumer than create the product according to the need of the society. Brand can attain the people attraction and the business can have the good reputation by giving satisfaction to consumer. If the brand gives satisfaction and function are according to the expectation of consumer than the brand gets good image on the mind of consumer. brand image is great weapon to use for the competitors it builds in years , at once the business gets brand image it has competitive edge from other brands in the market. When consumer rely on the brand the company can create the long term relation with the consumer, in other words (CRM) consumer relationship management. The brand image has effect on the choice of every individual there believe and attitude change their preferences. Brand image can be effected by price as price is an important part for consumer when they are making purchase decision if they find the value of brand is equal to the pricing they purchase that brand if not they refuse it. Similarly the image of brand can be effected by the attributes and features or
Companies use a collection of brand equities to represent their products in the market (Voolnes, 2012). Brand equity refers to the commercial value that is derived from the perception of consumers on any given brand name of particular products in the market as opposed to the product itself. Ataman (2003) notes that the effect to the consumer is in the brand name and not the product itself. Companies use logos, trademarks and a collection of other symbols to present this information to the customers. The use of these symbols is meant to try and capture the customer mindset so that they can be thinking about the company products at all times through the items they possess at home (Estes, Gibbert, Guest, & Mazursk, 2012). This can well be explained by use of the customer-based brand equity model that brings together the requirements for a publicly renowned brand in the market.
... might need exposure cost. Holland and Barrett is currently using corporate branding because it presents every product with same brand name and to have same level of quality products.
The review of relevant literature is to identify what's brand awareness and how to carry out in strategic marketing, and consumers' behavior. The study prove that the significant factors on brand awareness as a perception of product, service, and image of the company and has a tremendous effect on consumers’ evaluation of system results. From reading all of the relevant journals, it is understandable that the significant factors on building a successful brand image and awareness is consumers and their relationship with the brand, company, service and the product. Brand awareness is the vital importance to marketing strategy and marketing communications because it links customer behavior to firms’ financial metric. Keller (2001), noted, customers’ reaction toward brand awareness is associated profitably brand equity.
A company’s brand is one of its most valuable assets (Green and Smith 2002). Brands owners invest millions of dollars every year in advertising and promotion to raise awareness and create demand for their brands.
Advertising and sales promotions pay a major role in establishing brand equity. Advertising is a promotional strategy with the intent to attract and create interest and desire to increase purchases and brand awareness. An example of advertising would be a television commercial for a new laptop showing all of the new or updated features.
“Linked to a brand, its name is the symbol that adds to or subtract from the value provided by a product or service.” (Aeler, 1991) Like country of origin, brand equity is also one of the reasons why some people want to have a well-known brands in the whole world. Sometimes it is not all about the price anymore because in today’s generation brand is more important than
Branding is also a way to build an important company asset, which is a good reputation. Whether a company has no reputation, or a less than stellar reputation, branding can help change that. Branding can build an expectation about the company services or products, and can encourage the company to maintain that expectation, or exceed them, bringing better products and services to the market place.
You may be one of them who own one or more business, but do not have a website for them. It is perhaps because you have not yet realized the importance of having a website for your business. Before knowing the importance of having a website, you must understand what a website is. In simple words, a website is a domain which contains one or multiple webpages that can be accessed through internet. This is the digital era, and everything is connected to internet nowadays.
According to Shimp (2007), there are five important factors which determine the purpose of advertisement in terms of marketers’ communication with consumers. He listed these five factors as follows: “(1) informing, (2) influencing, (3) reminding and increasing salience, (4) adding value, and (5) assisting other company efforts.” (p.246). To clarify that, the first most important aspect is informing people which means company needs to enhance the awareness of the consumer about their products by mentioning its advantages and features. Advertising also affect the products in two ways. Firstly, by basic demand, which build consumer desires for old products of the company and secondly, refers to a new brand of the company. In addition, effective advertising can retain consumer’s mind fresh about the image of a brand which develops the trace of the memory where consumers have to choose between two or more products. Moreover, it may change the product quality, create new, well-designed and elegant product and change consumers view towards the product. Lastly, by effective advertising program, company may save money and time as s...
According to the Handbook of Media Management and Economics, marketing is “the art and science of satisfying consumer needs.” Marketing campaigns are strategic plans that will allow a company to push their consumer into buying their product. A good campaign will identify the consumer, their consumer’s needs and desires, and what the consumer needs to experience to convince them the product will fulfill that need or desire. T...
A marketing campaign is defined as “a specific, defined series activities used in marketing a new or changed product or service, or in using new marketing channels and methods” (Entrepreneur, 2016). In order for a business to be successful and grow, business owners have to think of ways to brand their business by marketing, advertising and promoting their products and services effectively (Entrepreneur, 2015). Branding is very important for businesses. For a business to grow and sell their products and services they have brand their product and services and make it known to their customers so they can build reputation and customer loyalty (Campbell, 2013). Marketing campaigns are used by businesses to attract customers to buy their product
Short and medium term, you will see the benefits of an Internet site. Your printing expenses will be reduced, your customer service will be improved, your sales will increase, your company will acquire additional notoriety, etc. The Web is a world without frontiers that is accessible at all times. Your website will be never closed contrary to your shop. Your Web page may sell and answer questions in an autonomous way.