Consumers’ self-image can be inferred from the brands they use, their attitudes toward different brands and the meanings brands have for them. The perceptions consumers have of themselves influences their brand decisions. Consumers form favourable attitudes toward those products which possess images most similar to the images they either prefer or wish of themselves. Accordingly, they buy those products which match their desired self-image because those products help consumers express themselves (Zinkham& Hong,
For example, Malaysia and Singapore have different markets, different values, attitude and lifestyle. The purchasing behavior occur among the customers which cause by the influenced of their live and work (Larsen as cited in Gunter & Furnham, 1992). Larsen s' study (as cited in Armstrong & Kotler, 2005) stated that the geographical variables are fit by the products, advertising, promotion, and sales which been modified by the companies. There are companies that produce several of products to particular markets by using geographic segmentation. For example, brand like Gillette, Clear and Colgate using different marketing strategy for different cultures in certain country like India, China and Japan.
Brands are complex offerings that are conceived by organisations but ultimately resides in the consumers mind (De Chernatony, 2010). A brand thus signals to the customers the source of the products and services and protects both the competitor who would attempt to provide products and services that appear similar or identical (Aaker, 2004). Brands provides the basis upon which consumer can identify and bond with a product or service or group of products and services (Weilbacher, 1995). A brand is a specific uniqueness associated with a product or services that enables the consumers connect with it by easy identification through the name, slogan, design, logo, symbols, etc. of the organisation that produces the products or
In addition companies need to deliver their products while keeping cost effectiveness in consideration. If they understand the perceived benefits of their target audience and are able to engage with them on a personal level, they can attain customer satisfaction and ultimately can have increased sales. In conclusion, conveying Unique Value proposition clearly to the customers could be a complete win/win for any business. Brand equity Formal Definition: The commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself. Alternative Definition: Brand equity refers to a value premium that a company generates from a product with a recognizable name, when compared to a generic equivalent.
But quality also matters. • Attract Status Conscious Consumers The major customers are the ones who are status conscious may purchase higher priced goods for prestige. Designer labels and other luxury goods are used as strategies by these companies. Now, this creates the drive to buy goods even at higher rates. Economy pricing is a familiar pricing strategy for organizations that include Wal-Mart, whose brand is based on this strategy.
Promotional mix is the coordination of the marketing activities which includes sales promotion, publicity, advertising, direct marketing and personal selling. It is a coordination of activities that you will perform to directly interact with your customers. Promoting the products is important for any business because of the lasting impact of promoting has on customers. The promotion mix is the essence of what promoting is and how promoting it is done effectively. Advertising, sales promotion, personal selling, public relations, and direct marketing comprise the promotion mix.