A brands main goal is to build a relationship amongst each individual customer. This means the customers should have a psychological and deep emotional connection with the brand. A term used for this is brand resonance. Brand resonance as defined in lecture is a brand that emotionally connects to the customer by embedding in the routine and enhancing the experience of its users. By achieving brand resonance the brand must achieve the following three categories: behavioral loyalty, sense of community and active engagement. In order for a brand to fall under the category behavioral loyalty customers must not only be brand loyal, but also feel that it is the only brand out there that has the product they need (pg.96). For example, if the product …show more content…
For example, when you are at store and you notice someone picking the same brand of shoes as you, you find yourself to be similar. If the yare running shoes like Nike 5.0 you will look at them to see if they have a runners body or look to see what they might wear with those shoes. You will immediately feel similar and you might strike up a conversation asking them why they like those shoes, which there are others out there. If you have entered the stage where people relate with your brand- your brand is succeeding. Last there is the active engagement category. This shows how involved your customer is with your brand. This can be noticed in a variety of ways like receiving updates via email, signing up for their rewards program or even spending a lot of time on the company’s website (pg.93). Doing any of these things and others allows the company to know how much you are willing to invest your time, money and effort towards this brand (pg.93). If your company can engage in all three categories then you have achieved brand …show more content…
I have to set aside a certain amount of money each month in order to have the money for my make up when I need it. To me make up is a necessity item like shampoo and soap, so I will do whatever it takes to make sure I can still afford my brand of make up. Not only do I set aside enough money, I also need to set aside enough time to do read weekly Aveda news updates. To me make up is a passion as well as art, so reading about what goes into their products and what it will do for your face is important to me. When I have time I will read the make up tips or benefits, which let you know great tips/ benefits about the make up you currently are using. An example is my inner light TM dual mineral foundation is talc- free (Aveda.com). This is a cheap mineral that is in a lot of cheap make- ups. This mineral a “fine grained mineral having a soft soapy feel and consisting of hydrated magnesium silicate” (Audioenglish.org). Since I am on the website in my free time, I signed up for their “Aveda Emails” letting me know when new products are out or if sales are going on. Along with these emails they send me free travel size samples that I can receive with my next purchase. This shows that this brand has achieved the active engagement
People are often deceived by some famous brands, which they will buy as useless commodities to feel they are distinctive. People require brands to experience the feeling of being special. People spend their money to have something from famous brands, like a bag from Coach or Louis Vuitton which they think they need, yet all that is just people’s wants. Steve McKevitt claims that people give more thought on features or brands when they need to buy a product, “It might even be the case that you do need a phone to carry out your work and a car to get around in, but what brand it is and, to a large extent, what features it has are really just want” (McKevitt, 145), which that means people care about brands more than their needs. Having shoes from Louis Vuitton or shoes that cost $30 it is designed for the same use.
In every given business, the name itself portrays different meanings. This serves as the reference point and sometimes the basis of customers on what to expect within the company. Since personality affects product image (Langmeyer & Shank, 1994), the presence of brand helps in the realization of this concept. Traditionally, brand is a symbolic manifestation of all the information connected with a company, product, or service (Nilson, 2003; Olin, 2003). A brand is typically composed of a name, logo, and other visual elements such as images, colors, and icons (Gillooley & Varley, 2001; Laforet & Saunders, 1994)). It is believed that a brand puts an impression to the consumer on what to expect to the product or service being offered (Mere, 1995). In other application, brand may be referred as trademark, which is legally appropriate term. The brand is the most powerful weapon in the market (LePla & Parker, 1999). Brands possess personality in which people associate their experience. Oftentimes, they are related to the core values the company executes.
A customer’s response falls in two categories, judgment and feelings. Consumers are constantly making judgments about a brand. These judgments fall into four categories: quality, credibility, consideration, and superiority (Keller, 2001). Customers judge a brand based on its actual and perceived quality, and customers judge credibility using the perception of the company’s expertise, trustworthiness, and likability. To what extent is the brand seen as “competent, innovative, and a market leader,” “dependable and sensitive to the interest of customers,” and “fun, interesting, and worth spending time with” (Keller,
Building and enhancing a strong brand has been found to have profitable rewards in business, it has therefore become a prime priority for many firms. Customer-base brand equity (CBBE) is a model that is being adopted by many organizations in order to build strong brands that can compete with the other ones in the market. The model outlines the four steps that should be followed in building a strong brand. The first step involves the establishment of appropriate brand identity, which includes enhancing customer awareness of the brand.
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
The development of brand communities is seen to reduce the barriers of interaction between consumers and the product/service, it increases community engagement developing additional possibilities for community interaction. Communities hold the potential to enrich the brand image, customer loyalty and provides gateways to understand more about the market (consumer). Brand management strategies hold an in-depth construction of the brand management process including the brand positioning model, resonance model and value chain. When implemented correctly, the correlation between integrated marketing communication tools (coverage, contribution, commonality, complementarity, conformability, cost) and online brand communities connects brands to its consumers to develop a long lasting social bond, Muniz, 2001, p. 412; Brodie et al. (2013) .
Consumers with brand loyalty are indifferent with too many choices in shopping as they tend to ignore other brands and chooses product from their preferred brand.
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.
Excellent brand management: To build genuine demand and rapport with their customers, and ensure sustained loyalty even as consumers grow more selective in their leisure spending (e.g. loyalty programmers and other customer reward programs).
In the past decade companies are starting to see their brand assets, and with this branding has taken on a greater significance. So today brands are more than just marketing slogans and logos. All businesses are building their brands through certain actions and in their actual presence they find a 'position' in the mind of consumer and prospects. This is based on experience and exposure of the brand in the competitive marketplace. There are certain advantages to take into account in a Brand Strategy;
A brand community is defined as a specialised, non-geographic community based on a structured set of social relationships among admirers of a brand. They are social entities in the day-to-day lives of consumers that connect the consumers to the brand and the con-sumers to other consumers (Albert M. Muniz, 2001).
When customer identify with specific brand and has emotional attachment they form a psychological attachment and relationship with the brand and try tell those thing of the brand which he/she like and work instinctively to the benefit of the brand (Kuenzel & halliday, 2010). Thomson et al, (2005) argued that brand identification such as brand attachment, brand connection and bond with brand, has strongly predicts the frequency of past and future purchase of the brand. The intense relation and attachment also drives consumer toward the benefit of the brand by purchasing the specific brand. Kuenzel et al. (2010) identify that the brand identification concept is built on social identity theory in which consumer are engaged with the brand and extensively of the brand concept in other self-restraints. Identification based on social identity theory is in core a perception of oneness with a group of persons and make an identity in marketing we can also say that customer make their brand as an identity of their self-mean people identify someone with their brand (Albert et al., 2013). The customers who they uses the brand and they emotionally attached to the brand make the brand their identity, those customer called evangelist.. Stronger brand identification with consumer disposed to emotional attachment in pro-brand activities. Their self as an evangelist with the brand and also with the manufacturer (Bhattacharya &Sen,
The practice of brand management is a key component of marketing and performs an integral function by motivating the wants and needs of consumers. It is known that marketing can shape consumer needs and wants, however, consumers today appear to be more knowledgeable about the information regarding products. Consumers lead busy lives and have therefore gone to the internet as one of the many channels to learn about products in order to make informed decisions. This paper will discuss the argument that marketing should reflect the needs and wants of consumers rather than shaping these attributes. Due to the speed and ease of obtaining information, consumers do not take at face value strong marketing efforts that appear to be overly aggressive and push a brand rather than just being informative. Brand managers have to be aware of these changing dynamics and carefully craft brand management practices to meet the demands of consumers.
In conclusion, the customer- based brand equity model is an important platform that may help in building a strong brand. It could assist a company in assessing its progress as well as providing a blueprint for marketing research activities. If properly planned and implemented, it could help the company in achieving its marketing strategies and in the realization of an increased profit margin
A brand identifies a seller’s product from a competitor’s product. There are three main purposes for branding product identification, which is the most important purpose, repeat sales, and new-product sales. Branding has a lot of terms that marketers use there is brand equity, global brand, and brand loyalty. Marketers also have different brand strategies that they use for different products or customers. It all depends on the consumer for them to decide which strategy they will use. The different strategies are generic products, manufacturer’s brands, private brands, individual brands, family brands, and co-branding. The branding purposes and the branding strategy make up the importance of branding.