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Transcript: A Brand plays a vital and critical role on how a company would grow and be recognized by the consumers. Brand experiences and perceptions are developed over time through a variety of sources, including: • Previous experience with the brand • Interactions with sales, customer service, and other employees • Recommendations from friends and colleagues • Reviews by reputable sources • Advertising Brand Equity Brands are more than just names and symbols. They are a key element in the company’s relationships with consumers. Brand represent consumer’s perceptions and feelings about a product and its performance- everything that the product or service means to consumers. END Brands deliver a variety of benefits, which for ease can be classified as satisfying buyers’ rational and emotional needs. Brand Personification Some marketers find it useful to create brand personification, which tries to recast consumer’s perception of the attributes of a product or service into “human-like character.” Many consumers express their inner feelings about products or brands in terms of their association with known personalities. Identifying consumers’ current brand-personality links or creating personality link for new products are important marketing tasks. Brand as Relationship Builder A personal experience with a brand can develop into a brand relationship, which is a connection over time that results in customers preferring the brand-thus brand loyalty- and buying it over and over. People have unique relationships with the brands they buy and use regularly, and this is what makes them brand loyal. -De Chernatony & Wallace "Branding brings benefits like increased sales (or in the case of charity, increased donations and gifts from supporters),maximum exposure and awareness of your product or service, a loyal and long-term customer base, perhaps even premium pricing depending upon the market you’re in. " -HAMMOND One of the founding fathers of the popular cognitive behavioral therapy said ‘emotion follows perception. The reverse is also true; In that a perception can also be shaped by emotion – like many aspects of the brain’s information processing routine, it’s a two-way street. -Aaron T. Beck The word brand has its origin from the Old Norse word “brand” which means “to burn”. In the initial phase, the brand was used as a mark of identification on the animals Brands deliver a variety of benefits, which for ease can be classified as satisfying buyers’ rational and emotional needs. REVIEW OF RELATED LITERATURE "The more ambiguous your customer experience, the less likely it is that your brand will be perceived correctly.” -HAMMOND Brands are about building on their value to create value and promising a unique and welcomed experience for the customer. Branding is the process involved in creating a unique name and image for a product in the consumers' mind, mainly through advertising campaigns with a consistent theme. Brand names present many things about a product and give number of information about it to the customers and also tell the customer or potential buyer what the product means to them. Furthermore it represents the customers’ convenient summary like their feelings, knowledge and experiences with the brand. -Flemmming Hansen and Lars Bech Christensen Nowadays, Brands are becoming a more and more important part of a company's marketing strategy. -WALKER Brand Perception & Decision Making Brand is essentially the sum of all experiences related to the product, service, and companies that make and deliver the product. Brand perceptions are shaped by functional experiences as well as emotional experiences the customer associates with the product and company. Managing of Brands Managing of Brands is very important; it is the way on how you planned the brands well. Brand managing plays an important role; it should be good inside and out. MARKETING RESEARCH Outlook of Consumer on Branding A brand is the total emotional experience a customer has with your company and its product or service. Kotler, Armstong & Ang People began to develop preference at a very early stage. Branding Strategies: Building Strong Brands Some analysts see brands as the major enduring asset of a company, outlasting the company’s specific products and facilities. A former CEO at McDonald’s says: “If every asset we own, every building and every piece of equipment were destroyed in a terrible natural disaster, we would be able to borrow all the money to replace it very quickly because of the value of our brand …. The brand is more valuable than the totality of all these assets. Our preference is part of what makes us who we are. "The art of marketing is largely Brand Building. If not brand, it will be viewed a commodity." -Kotler Brand Awareness Before consumers make any brand purchase they must recognize or feel a need for the product category or the product form. Only consumers who have recognized the self-relevance of the product and have formed a
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