This is important for brands, which have only minor physical differences and consumed in a social setting where the brand can create a visible image about the consumer itself. According to Kohli and Thakor (1997), brand name is the creation of an image or the development of a brand identity and is an expensive and time consuming process. The development of a brand name is an essential part of the process since the name is the basis of a brand’s image. Brand name is important for the firm to attract customers to purchase the product and influence repeat purchasing behavior. Consumers tend to perceive the products from an overall perspective, associating with the brand name all the attributes and satisfaction experienced by the purchase and use of the
Materialism Among Consumers Materialism refers to ‘the importance a person places on possessions and their acquisition as a necessary or desirable form of conduct to reach desired end states, including happiness’ (B.Zhang, J.H Kim 2013). In other word, materialism is the belief about the importance of possessions in life by emphasizing on the ability to own material objects in terms of the type and quantity of the purchased products, focusing on the value placed on the acquisition of material objects (Kamolwan T. and Wiwatchai J, 2010). They feel that those luxury brands can boost their status by consuming luxury products publicly and possessing visible wealth (Liao and Wang, 2009). As consumers consider luxury brands as status-oriented possessions,
If consumers perceive that the product has comparative advantages with other products and that element is very meaningful to the consumer, so the consumer will choose the product even though the product is relatively similar to others. Last things to be analyzed in this study is consumer attitude toward global products. The relationship between affinity towards global brands and brand preferences have acknowledged by recent studies (Sengupta, 2014). Therefore, this study analyzes how the brand is recognized, how the brand is appraised and to what extent consumers are entrust to the
The brands set different prices of its product base on design, size and heritage. This is due to brand loyalty that each brand possesses by each luxury group. Particularly put extensive brand portfolio to cover different customer segments. As such, the brand is niche in the market leading to rivalry of the competitors in this industry to
WHAT IS CLIENT CENTRIC? WHAT DOES IT MEAN TO BE CLIENT CENTRIC? Client centricity is not just about offering great client service, it means offering a great experience from the awareness stage, through the purchasing process and finally through the post-purchase process. It’s a strategy that’s based on putting your client first, and at the core of your business. The challenges of becoming a client centric organization Clients have become more selective in which brand they chose to spend their money with.
The culture is high in determining the customer satisfaction. Consumer behavior social and personal factors providing these two requests for the client can assure the client will be satisfied with their new purchase. The personality behavior is the second trait that has a strong determining factor in the success of the Toyota Prius. This factor affects influence a “buyer’s decision which directly impacts the consumer behavior; it is important for marketers to follow them closely.” (Keller & Kotler 2016). If the customer lifestyle, values, and self-concept is not meet then more than likely the customer will not follow through with the
Influencers also need to have what it takes to not only bring awareness of your brand to a large audience, but drive people to purchase your products or services. As Jay Baer puts it, “True influence drives action, not just awareness.” Why does My Brand Need an Influencer? If you’re still wondering what a social media influencer can do for a brand that you can’t, it’s all about the psychology. When a potential customer hears from a third party that your product is great, they are more likely to take their word for it than if it were to come straight from your mouth. This is because you inherently have a bias that your product or service is the best, while a social media influencer appears more genuine.
Eye-catching celebrities are more influential particularly while endorsing the brand that enhances the attractiveness, since customers assume that as the brand improved the exquisiteness of the endorser, so does it will in actual (Kamins, 1990). An additional study discovered that simply those celebrities are supposed to endorse who are similar and apparent by the consumers to have knowledge as well (Ohanian, 1991). 2.4 The Meaning Transfer
Lately, corporate social responsibilities (CSR) has progressively come to be viewed as a decent vital advertising apparatus. There are two purposes behind this developing hobby in CSR. From one perspective, consumers are requesting from firms something more than a top quality item at a low cost, and they incline toward brands that are socially rumored at the point when assessing comparable items. Then again, a firm may acquire aggressive preferences by concentrating on non-financial components. CSR could be an advantage for building a better brand image and making consumers' inspirational disposition so it is an imperative wellspring of competitive advantages (Porter & Kramer, 2006).
Two factors that reinforce association to any piece of information are its personal relevance and the coherence with which it is represented over time. The particular associations we recall and their significance will depend not only on the power of association, but also on the recuperation of cues present and the context in which we consider the brand. Let’s consider the factor that, in general, impact the power and recallability of a brand association. Consumers form beliefs about brand attributes and benefits in different ways. Brand attributes are those descriptive features that characterize a product or service.