Plenty of skin-care products in the marketplace, and thereby people are getting more skeptical about the products because of the exceeded of brand choices. Correspondingly, certain studies indicated that the factor of risky choices may be greatly influenced by the factors of perceived risks associated with the decision alternatives (Krueger & Dickson, 1994; Manimala, 1992; Mullins, 1996; Sitkin & Pablo, 1992). In simple terms, the greater the number of alternative choices will lead to greater risk of making decision. Therefore, people living in this era of information overloaded, they will tend to be more aware of the validity or credibility of the information sources. Perhaps, the issue of credibility is one of the most concerning issues to both marketers and …show more content…
Subsequently, “source credibility” was being further developed into a new field of study, “brand credibility” (Aaker & Brown, 1972). Undoubtedly, the researchers have noticed the growing importance of branding. Kotler and Armstrong (2010) asserted that the items that used to distinguish among sellers are name, term, sign, symbol, or design. In short, these items are the composition of a brand. As mentioned above, Wang and Yang (2010) indicated that brand credibility may influence the intention to purchase, therefore, it implied that brand credibility will indirectly influence the buying decision through affecting the purchase intention. Erdem and Swait (2004) claimed that “brand credibility” is composed by 3 elements, “Attractiveness”, “Expertise”, and “Trustworthiness”, specifically; these 3 elements are measure on different criterion. Briefly speaking, “Attractiveness” is associated with image, “Expertise” is associated with capabilities, and “Trustworthiness” is associated with
When the consistency of the information is built, the credibility of the brand becomes higher (Bengtsson, Bardhi and Venkatraman, 2010). It is suggested that asymmetric information leads to consumer uncertainty, which would therefore have a negative impact on brand image (Erdem and Swait, 1998, p. 138). Accordingly, consistency of the information has become a key factor that leads to the successfulness of a global brand since it reduces the uncertainty and the thinking process time of consumers (Lee et al., 2007). Several effects have been found regarding to standardization of a brand (Erdem and Swait, 1998, p. 138). Marketers will have a better control of the brand if the brand meaning has been consistent over the time (Erdem and Swait, 1998, p. 138). First of all, it increases brand equity, which would therefore improve consumer’s brand awareness (Erdem and Swait, 1998, p. 138). Second, it would reduce consumers’ uncertainty of the brand, which would thus increase the reliability of the brand and brand loyalty (Erdem and Swait, 1998, p. 138). Third, it greatly reduces the conflict of consumers’ cognitive structures, which would lead them to trust more on the brand (Erdem and Swait, 1998, p.
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,
...s SLK obviously clarifies how essentialness of recognition is important for a brand. In Oman how many number of consumers are eager to spend 15,000 O.R to purchase a Toyota SUV? Not that many. Anyhow many individuals might pay 15,000 O.R for Lexus SLK if it was available at that rate. Interestingly the recognition of Toyota are conservative, competitive, and common sense. However the Lexus is an image of extravagance, prevalent quality, and tastefulness. In this manner the insightful progressions of individuals' brain and perspective of brand quality influence the purchase decision making. One average sample of sensor promoting, might be Lexus with their strap line, 'The loudest sound you hear inside the Lexus is yourself considering'. It is locked in to shopper's sound sense, communication of the buyer remains in hush to test how tranquil a Lexus motor truly is.
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.
...of brand equity in an organizational-buying context. Journal of Product & Brand Management, Vol. 6(6), pp. 428-437.
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 target audience also has a positive brand attitude towards the University of Southern Queensland’s brand. However, a positive attitude towards a brand is not enough to drive purchase, therefore it is important to foster both a positive brand attitude and a strong attitude towards the brand to achieve continued patronage (eds MacInnis, Whan Park & Priester 2009, p. 286). A strong brand attitude is beneficial as it lasts longer and prevents brand change (Fabrigar, MacDonald & Wegener; Petty, Haugtvedt & Smith, cited in eds MacInnis,
Marketers assert to develop branding and packaging strategies that signify the brand’s products in a way that establishes lasting impressions in consumers’ thoughts. Because brands distinguish the many product offerings in the marketplace, brands help consumers choose between product offerings. When branding and packaging strategies clearly illustrate worthy product expectations, and products remain true to branding messages, positive consumer perceptions ensue, and brand value is strengthened.
Brand equity is crucial as it implies that the brand itself is an important (financial) asset and can be calculated in financial terms (Barwise, 1993). This is particularly important in the luxury sector as from a behavioural viewpoint, brand equity can differentiate a company or product from other competitors, adding to their competitive advantages based on non-profit competition (Aaker, 2004). The model created by Aaker (1992) states that there are four categories of brand equity; Loyalty, Awareness, Perceived Quality and Associations. Luxury branding relies on a high level of perceived quality, loyalty and associations, although potentially less so for awareness, as it is thought that consumers choose luxury brands based on their exclusivity and as such the more the awareness that surrounds the brand, there is potential for it to become less valuable (Phau and Prendergast,
Lastly, brand awareness is a crucial consideration. And It may be thought of as a consumers’ ability to find a brand within a group in adequate detail to make a purchase. It is important to remember that adequate detail does not always need identification of the brand name. Often “brand awareness is no more than a visual image of the package that stimulates a response to the brand.” Moreover, recall of the name is not necessarily required because brand awareness in which can try via brand recognition. According to Emma Macdonald and Byron Sharp (2003), suggested, when a brand is recognized at point of purchase, its brand awareness does not need brand recall. This is a major point in the consideration of brand awareness as the most important communication objective. In fact, the difference is misunderstood by marketing and advertising managers. The difficulty is to relate to the essential difference between recognition and recall, that is extremely important to advertising strategy. Brand recognition and brand recall are two separate types of brand awareness. The difference depends upon the communication effect that occurs primarily in the consumers’ memory.
By communicating a new value proposition, brand management aims to change the brand’s former brand percep-tion and link the new brand image to the new position. Of course, also within re-positioning, new attributes have to demonstrate points of difference and superi-ority. By emphasizing the brand’s uniqueness, management enables the cus-tomer to perceive higher brand value in their mind (cf. Friis 2009, p. 19). If the brand elements are not relevant for the target audience or the brand proposition was not chosen correctly, brand identity will not be perceived as credible and communication will fail. Therefore, companies have to analyse their target groups accurately before choosing new attributes, which they want to communicate. Management has to find out what are the target audience’s needs, wants and desires and what do they believe in. The organizations values should in best case overlap with the values of the audience. New brand attributes have to follow specific communication objectives, which are focussed on changing the custom-ers’ perception (cf. Feddersen 2013, p.
This article studies the relationship between advertising and sales promotions and their impact on brand equity. A main priority for most companies is to establish and achieve a strong and powerful brand name. A company can build a strong brand name by creating the market for their customers want. By creating a strong brand name, a company will become more established. Brand equity is important to the producer, retailer and consumer. The consumer knowledge of the brand says how the producer will produce and market the product. The consumer knowledge of the brand name also determines the quantity the retailer will sale. Brand equity can have a positive or negative effect. A positive effect would be for everyone to recognize the name and purchase the product. The negative effect would be to have the product recalled. Brand equity is important because it can offer many advantages for a company. Brand equity can create a high demand for your product, reduce marketing cost and the company’s brand name will have high credibility.
This paper argues why both brand identity and packaging are vital to a successful marketing strategy, and that they are more powerful intertwined, than as two separate elements.
The second step deals in creation of proper brand meaning through powerful and unique brand connection with the customers. The third step involves invoking positive brand response while the fourth one involves engaging the customers so as to build a brand affiliation aimed at enhancing active brand loyalty. However, some building blocks are requisite in order to achieve these steps. These...
...& MAKLAN, S. 2007. The role of brands in a service-dominated world. Journal of Brand Management, 15, 115-122.