A strong brand will help an organization to differentiate the price from the rest and encourage their customers to pay for the intangible benefits they get from associating themselves with a brand that makes them appear cool fashionable, or clever. In addition, a brand provides a vital differentiator, especially when the basic product or service is widely
User Image is the personality of the user of the brand. Brand Image is the result of the perceptions. Brand Personality is created by the organization and brand image is the result in the mind of the customer. Continuing in a similar vein Brand image has also been described as consumer’s perceptions of brand characteristics, traits and associations which are a part of Brand Personality. Plummer (1985) found that brand image perceptions are formed whenever there is an indiret/direct contact with the brand.
Different Models of Brand Equity In modern marketing, brand equity is considered one of the key principles that brings the added value to products and services. Brand equity can be defined as a marketing process helping indicate the relationship between the overall customer’s satisfaction and loyalty to the brand. David Aaker, a branding expert, defined brand equity as a set of factors and features related to a brand name and symbol that increases the value provided by a product or service (Aaker, 1991). Basically, if a product is not associated with a brand, it relates to a commodity. At this point, brand equity starts demonstrating its value by bringing the benefits to the revenues by means of increased sales and customer’s willingness to
We’ve got a product and a price now it’s time to promote it. Promotion looks at the many ways marketing agencies disseminate relevant product information to consumers and differentiate a particular product or service. Promotion includes elements like: advertising, public relations, social media marketing, email marketing, search engine marketing, video marketing and more. Each touch point must be supported by a well positioned brand to truly maximize return on
The receiver is one or a group of people (target audience) with whom the source attempts to share ideas. In marketing communications, receivers are the prospective and present customers of an organisation’s product or service. Decoding: Decoding involves activities undertaken by receivers to interpret or derive meaning from marketing messages. The Receiver decodes the sender’s message by converting it into meaningful information or understanding. Feedback: The final step is when the receiver responds to the sender’s message through a feedback that confirms understanding or conveys the need for clarification or more information.
Both design and product have to carry the same level of quality and values. It is quite common that when the company says it is doing rebranding, what they actually are doing is creating a new fresh design not the brand. Markets are crowded with different kinds of visual elements and advertisements. The key for successful visual part of branding is consequence would wise from companies’ perspective to use logotypes and symbols in their communications with customers, partners and society. It has to be iconic, and include symbols of field, particular customer service and behavior complex.
The study revealed that, marketers stand to consumer behaviours with respect to their brand, for example brand loyalty and positive word-of-mouth. Further, it also revealed that, the selection of appropriate target markets, the development of strong product image, promotion and operation for domestic market may be recommended as specific marketing plans. They also indicated that, there is a strong relationship between brand image and each of the preference measures utilized in the study. Across this category, the brand with the greater market share yielded substantially higher levels of brand acceptability. In turn, the brand with the higher image in the category generated significantly greater
Keller (2009) points that brand awareness are related to the strength of the brand node or trace in memory as reflected by consumers’ ability to recall or recognize the brand under different conditions. Brand image is defined as consumer perceptions of and preferences for a brand, as reflected by the various types of brand associations held in consumers’ memory. Reinforcing these two components serve as sources of brand equity that can affect positively loyalty; price premiums and more favorable price elasticity responses; greater communication and channel effectiveness; and growth opportunities via extensions or licensing (Keller