Brands have a significant effect on prospective customers. Strong brands increase customers perception of the products, thereby, increasing the economic value of the brand. Companies strive to ensure that they consistently express the brand across all touch points with the customer. This helps in shaping customer perceptions on the brand and ultimately the purchasing behavior. Companies strive to use branding to ensure that their products are not substitutable with those of their rivals. This helps the brand to increase demand. This enables the company to have higher returns. Companies strive to ensure that they create strong brands. This enables the brands to create continuity of demand of the relevant products into the future. This increases the probability of the company experiencing higher returns in the future. Therefore, the ability of brands to generate higher returns and reduce risks enables brands to create economic value. (Marketing assignment help)However, for a company to improve its brand image, it must first gain customer loyalty (Wheelan, 2010).
Authenticity is one of the major factors that help in improving the value of a brand. Companies should strive to improve their brands through extensive marketing campaigns. Brands should meet certain needs of its customers. Consumer research helps in identifying the needs of the customer. However, the needs and expectations of the customer should not always dictate the brand image. This is due to the fact that it is exhausting to keep up with the needs and expectations of the customers. Unilever is one of the strongest bands globally. The company lists its corporate purpose, which highlights the company’s focus on corporate social responsibility (CSR), at the head of its annual reports. In so doing, the company shows that it is not just using CSR to conform to society expectations. The company adopts CSR with the swagger of brand advertising. This helps in improving the strength of the brand (Buckingham, 2011). Brand openness is one of the major characteristics of strong brands. Strong brands strive to increase their contact points with the customer. They ensure that customers can access the company’s details in its website easily. This enables customers to share their grievances on the company’s products. In addition, customers may share certain information with the company, which may be vital in improving the performance of the brand. Strong brands are responsive to customer’s grievance. This helps in improving customer satisfaction. In addition, strong brands are real-time. Therefore, customers can access information from the company in real time. Strong brands strive to build relationships with the customer. Therefore, they address their customers in a friendly manner. They remove the corporate jargon when making conversations with the customer. This enables the customer to understand information easily, which improves their satisfaction (Wheelan, 2010). This ultimately improves customer loyalty to the brand. Consistency is a major characteristic of strong brands. Customers usually receive consistent information. In addition, there is consistency in the company’s activities and products. Therefore, customers of the company know what to expect from the company. Apple is one of the strongest global brands(best essay writing services). Customers of the company expect it to create revolutionary products that incorporate the latest technologies. The company has created several revolutionary products. The iPhone is one of the revolutionary products of the company. The company incorporates several additions that improve user experience in new versions of the iPhone. This makes customers yearn to own the latest iPhones. Therefore, customers are willing to queue for hours or days at the company’s stores to buy the latest versions of the iPhone. Customers of a brand receive authentic information. The company strives to provide authentic information to attract the customer. In addition, brand openness is a major characteristic of strong brands. Customers can communicate with the company and any time. Customers also get consistent information and products from strong brands. References Wheelan, C. (2010). Naked Economics: Undressing the Dismal Science. New York: W. W. Norton. Buckingham, I.P. (2011). Brand Champions: How Superheroes bring Brands to Life. New York: Palgrave Macmillan.
0 Comments
Leave a Reply. |
Archives |