Introduction about the business when brand is

Introduction

 

This chapter will introduce some fundamental concepts
related to brand loyalty – the importance of brand in marketing strategy
planning, followed by a general review of sales promotions and their perceived
benefits. Next, it describes the benefit congruency, low and high involvement
buying decisions, stages in consumer buying process, and the debate over the
effect of sales promotion on brand loyalty.

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Value
of Brand in Marketing Strategy

           

Marketing research has been the robust tool for marketers
to explore the importance of the brand image in customer buying decision making
process. For instance, a recent market research showed that when it comes to
choosing favorite makeup line, consumers look for brands they trust rather than
brands with appealing displaying attributes. Cover Girls was voted by 14% of
the sample population to be the top favorite cosmetic brand out of 60 selected
brands in the research. Meanwhile, with 10% of the mentions, Clinique was the
second, Maybelline and Mary Kay were the third with 8% each. When consumers were
asked what critical factors that influence their choice, more than two-thirds
cited that their decision was not based on actual product attributes, but the
brand trust, while the rest of respondents (one-third) claimed loving it “as it
feels fabulous”. Factors like “uses human testing/ecologically safe”
were not weighted heavily and often placed in the bottom of the list1.    

 

In
the traditional sense, brand is defined as the design of the logo, the name of
the product, the slogan of the company, or the blend of these factors that
differentiated goods and/or service of a business from its competitors.

However, technology development enables today’s customers to create their own
brand definitions from their perceptions and their beliefs towards the business.

Therefore, branding now is a process which has become more complex than ever.

Brand is no longer solely defined by its business. Brand lives and evolves with
human behavior. Simply, brand is all about how people mentally think about the
business when brand is presented to them.    

 

 

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