Brand Positioning
OVERVIEW
Innovations, trends and fads all create, shape, and add value to a brand. Building a strong brand takes time commitment and hard work. The identity of the brand, from the perspective of the consumers, is the foundation of a good brand-building program. Effective brand management that encompasses brand personality is of major importance in reaching the company goals of satisfaction, loyalty and profitability. Building a powerful brand requires determining the substantial characteristics of the offerings that carry the brand name and the psychological or emotional benefits the customers receives from a company’s products. This can be described, as what “value” means to a typical loyal customer; and what, ultimately, is the essential nature and character of the brand over time.
BRAND EQUITY
A brand is a name or a symbol that is used to identify the source of a product. When a business develops a new product, branding is an extremely important decision. The brand can add significant value when it is well recognized and has positive associations in the mind of the consumer. Consumer based equity focused on the consumer’s attitude strength toward the product associated with the brand. A consumer’s awareness and associations lead to perceived quality, inferred attributes and eventually- the desired out come- brand loyalty.
It is important to make the band easy to remember. The consumer should easily remember their positive evaluation of a brand. “ Brand power to influence buyers relies on representations and relationships.” (Kapferer, 2004) Brand equity is the direct relationship between the customer and the brand. A representation is the mental association a brand has on a customer. A brand creates value and influences consumers buying habits. To create brand equity the brand must focus on a specific audience in order to directly connect the product to the consumer.
DEFINING THE TARGET MARKET AUDIENCE
“Defining the market
Innovations, trends and fads all create, shape, and add value to a brand. Building a strong brand takes time commitment and hard work. The identity of the brand, from the perspective of the consumers, is the foundation of a good brand-building program. Effective brand management that encompasses brand personality is of major importance in reaching the company goals of satisfaction, loyalty and profitability. Building a powerful brand requires determining the substantial characteristics of the offerings that carry the brand name and the psychological or emotional benefits the customers receives from a company’s products. This can be described, as what “value” means to a typical loyal customer; and what, ultimately, is the essential nature and character of the brand over time.
BRAND EQUITY
A brand is a name or a symbol that is used to identify the source of a product. When a business develops a new product, branding is an extremely important decision. The brand can add significant value when it is well recognized and has positive associations in the mind of the consumer. Consumer based equity focused on the consumer’s attitude strength toward the product associated with the brand. A consumer’s awareness and associations lead to perceived quality, inferred attributes and eventually- the desired out come- brand loyalty.
It is important to make the band easy to remember. The consumer should easily remember their positive evaluation of a brand. “ Brand power to influence buyers relies on representations and relationships.” (Kapferer, 2004) Brand equity is the direct relationship between the customer and the brand. A representation is the mental association a brand has on a customer. A brand creates value and influences consumers buying habits. To create brand equity the brand must focus on a specific audience in order to directly connect the product to the consumer.
DEFINING THE TARGET MARKET AUDIENCE
“Defining the market