Thesis branding its impact on the consumer decision making process
Subsequently, brands can be differentiated through marketing focus and messages in order to appeal to different consumer populations. This is the most effective way to insure consumers 25 positively perceive the brand and product.
In order for the reader to fully ascertain the effects that branding has on the consumer decision- making process, the author has selected an academic model that explains not only the process of consumer decision-making during purchasing activities, but one that facilitates the understanding of pre and post purchasing activities as well.
If one considers Apple Computers, the success of the iPod music player was largely dependant of the high brand equity of the brand name and more specifically, their brand image. As a result, new fields of science appear, a good example of this is neuromarketing.
Their typical buying situation is summarised by low-level involvement in a market that displays high levels of 21 product differentiation.
Designed for seamless integration with the iTunes music store, the iPod is a light weight portable hard drive capable of holding up to songs, photos and hours of music. This in turn will allow companies to seek out higher asking prices.
During the launch of the 24 iPod, heavy importance was placed on advertising and promotion.
That is all result in providing value and customer satisfaction, creating a competitive advantage and enhancing the value of the company. Of the three social media platforms identified as commonly used by companies to support marketing and branding i.
Impact of branding on consumer buying behaviour questionnaire
Using the financial perspective, one measures brand equity by determining how much more consumers are willing to pay in direct relation to the brand name. This competition has lead to product offerings that have become increasingly difficult to differentiate for reasons stated in Chapter 1. This stage will eventually lead them to develop positive attitudes regarding the product. Even if Starbucks is the most expensive of the three, consumer behaviours and choices are often driven by their perception of the brand and belief in a brand-based experience that is differentiated solely by recognition of the brand. Briggs and Cheek explain this by having found a correlation between consumers having positive attitudes towards a brand and that same consumer deciding to purchase the said brand. According to Alreck and Settle , the consideration and development of brand equity is vital as its benefits are wide reaching. In order to address this problem, branding has become a widespread tool used by companies to highlight their products in increasingly saturated markets. Therefore it is fair to assume that the development of positive attitudes towards brands can lead to not only the sustaining of competitive advantage, but in the bettering of the financial health of a company. A competitor could easily copy a digital music player. If one looks at Apple Computers as an example, many claim that a shift towards brand orientated marketing techniques have allowed them to break into the digital music market and further their presence in the IT market.
Depending on the type of product or service, specific consumer responses to brand images can result in feelings, thoughts or behaviours that are distinct to each brand. In assessing the impacts of social media on branding and marketing approaches, an exploration of the existing literature on social media use and brand perception can help identify emerging and successful strategies for improving consumer engagement through social media.
Impact of brand image on consumer buying behaviour pdf
Referring to Baker , one can consider a product as being anything that can satisfy the economic, psychological or functional needs of a potential customer. The subject of buying decision-making was chosen due to the several reasons. This is the most effective way to insure consumers 25 positively perceive the brand and product. According to Oliver , a loyal customer is one who will prove his commitment by spending additional time, money and effort to obtain the brand of his preference. Aaker maintained that this is based on the perception of branding that influence reception to brand messages. He continues by stating that the very existence of these attributes are key in providing competitive advantage, seeing as without them, competitive pricing would become the only factor used by consumers to distinguish company offerings. Whether looking at Nike products or electric vehicles, the messages utilized in branding strategies become the defence that consumers use to determine their purchasing decisions. An excellent example is that of Apple Computers.
It must be noted however, that differentiation comes at a cost. At the end recommendations for the further research in this area will be suggested.
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