Every entrepreneur, new business, and existing business must safeguard their company Brand. A company brand doesn't only represent the company it is also associated with creating consumer relations. Many individuals do not understand a company brand is a combination of the company’s name, image, design, logo, and materials used to make the product. I believe the company Alien Polo would benefit by analyzing their company brand.
A major key point when creating/analyzing a brand is determining if the brand is unique and will shine by itself when placed next to its competition. The company’s name Alien Polo is unique and can be attractive to its target market (young adults & college students). Also the company name gives a clear message to the
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Brand loyalty is “when a consumer display a steadfast allegiance to a brand by repeatedly purchasing is”. (Text Book pg. 316) Every industry in the world benefits from brand loyalty because without consumers there is no industry. It is tremendously important for Aline Polo to identify areas in its brand that can improve and create loyalty with their consumer. The changes can be simple with little cost to the company. For example, a change in the current return policy from 20 days to 30 days can create peace of mine with the consumer. Comscore.com is a global media measurement and analytics company states; “consumer now expect free returns with 82% respondents saying they would complete the purchase if they could return the item to a store or have free return shipping, and 66% said they view a retailer’s return policy before making a purchase”. Aline Polo is a website based company with no physical store location. Frist time customer can be hesitant in purchasing product because they cannot physically touch the marital and become even more hesitant because of the return policy. When a company is attempting to create brand loyalty with consumer they must be aware and sensitive to their consumers' concerns. By adapting key aspect in the company that eases their consumers concerns they are able to make a relationship with the company and consumers who are brand-loyal typically exhibit less sensitivity to
A brand is what can either attract people to you or make people avoid you; people would identify you by the brand you portray. One can communicate their brand through actions and words. “It is essential to understand that wherever we are, in whatever we do, we are all building our brand”.
Thus, companies seek to strengthen customer loyalty. Brand loyalty is considered to tilt the consumer to purchase the package / product specific brand (Jacoby and Chestnut, 1978). Later, Oliver (1997) defined loyalty as "a deeply held commitment to REBUY or repatronize preferred product / service consistently in the future, thereby causing repetitive same-brand or same brand set purchasing, despite situational influences and marketing activities, which would result in causing switching behavior "(p. 34). This conceptual definition covers two different aspects of loyalty: the behavioral. This is consistent with an integrated conceptual framework proposed by Dick and Basu (1994), that customer loyalty is regarded as a "power relationship between the relative position of the individual and repeat
According to Holt (2004), a brand can be defined as a term, name or a design that distinguishes product or service of one manufacturer from others. Brands are normally utilized in advertising, business and marketing. In accounting terms, brand is an intangible asset which is present within every organization. It is most valuable asset that is outlined in the balance sheet of a company. Brands owners need to effectively manage their brands in order to enhance shareholder value. Brand valuation is an important technique that associates money with a brand. Effective branding often results into high sales volumes of a particular product. A customer who prefers a brand is more likely to choose other products which are offered by the same brand. Brand can be stated as a personality that facilitates identification of a company, product or service. It even encompasses relation with other constituents like customers, partners, investors, staff, etc. Individuals distinguish psychological aspect of a brand from experimental
Remembering that a brand is more than simply a logo, this guide is offered to help you understand and develop not merely a symbolic brand, but rather a living brand that is
Lederer and Hill’s Brand Portfolio Molecule analyzes an organization’s brand in a multidimensional view. Every organization should have a brand portfolio which categorizes how the organization identifies its goods and services in order to distinguish their product offerings from the competitors (Fortenberry, 2010, p. 76).
Klein’s last paragraph in the essay continues to provide readers with more information and support. She uses more anecdotal examples to further the audience’s familiarity with the concept of branding. Klein speaks on the issue of the brand being dead and how virtually nothing is left unbranded (Klein 778). This gives readers a nice gateway into exploring more about the concepts of branding and
Simplified brand loyalty describes a status in which consumers determine their selves in; out of it they become committed to a brand. Thereby they continue purchasing products or services of a specific brand. At this point consumers rather spent more money on a product of a specific brand than buying from multiple suppliers within the same category. Mainly brand loyalty is a result of consumer’s behavior, which is enforced through a company’s measurements regarding branding. Branding is a process that a company runs through in order to establish a new brand. The ambition here is to strengthen a unique name and image for a product in
According to the American Marketing Association (AMA), a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition”. However, as Keller highlights, a brand is also “something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace”. Therefore, a brand is an identity created to differentiate itself from the competitors and to be remembered in consumer’s mind.
Since an increasing number of people focus on brand names instead of product, brands become important elements for customers to choose products (Carroll, 2008). When customers trust the brand, the benefits for the manufactures are generated. In the first place, brands can be used by products as the tool to identify and differentiate themselves from various products. Secondly, brands are helpful for companies to build a competitive advantage (Bick, 2009). Therefore, organisations take more attention to branding.
As previously explained, the returned merchandise policy is a main component in the customer life cycle, not only is present in all stages, but its relevant for throughout acquisition, retention and development. As if it wasn’t enough, this policy is crucial to the product value proposition and its a main differentiation factor from all competitors, since there’s no other company thats so flexible on the returned merchandise.
According to Philip J. Kotler “a brand is a name, term, sign symbol or design, or a combination of them to identify the goods or services of one seller or a group of sellers and to identify them from the competitors”. This definition expresses the brand as the sum of the representations that we have, however, the brand is also a cultural agent. To remain permanently in the mind of the consumer brands must build a recognizable brand and offer their cultural role models to their customers. Thus it is necessary to include this cultural aspect to the marketing strategy of the brand. After explaining how this cultural and aspirational aspect is
This is why it’s essential for brands to get to know their markets, their buyers & the brand elements required of them, in order to build and create effective branding strategies. The following essay discusses this further.
Although brands do not solely refer to businesses and their products or services (e.g. charities, countries, celebrities), this essay will discuss their relevance to profits with regards to business operations unless specified. Where most companies must at some point make a decision (consciously or unconsciously) whether to brand their company or not, that question is often rhetorical. Brands are established whether the marketing manager says they should or not. The decision really is whether to implement conscious brand management within the business or not. That is the difference between a strong brands and weak brands. Where
There are certain questions to be imposed in order to build and identify brand salience. These questions are used for the development of the brand by depicting the brands value and identity. The manager or the negotiator will be able to identify the brand and ensure that the particular brand meets the customer satisfaction (keller, 2016). In the customer perspective, a brand is to be well advertised for its awareness among the people and the brands knowledge is to be known by providing an association or link between the product category and the brand. Basically salience ensures in creating brand awareness that refers to how easily a brand is recognized and what the importance is given to that brand when compared to other brands. salience also refers to the same thing which also includes how is the brand popularized and how the customers find the product and purchase it by themselves. The level of salience can be determined by the extent and dimension or breadth of the brand. Here extent refers to the knowledge of the customer that is how easily a customer is able to recognize the product or brand. Dimension refers to the ability of the customer that happens when a purchase is made. This is the basic and foremost step that is to be followed in the brand pyramid
The term “Brand Loyalty” also called as “Customer Loyalty” has been in the business industry since a very long time as a model to be used in conducting business. But it wasn’t until the mid to late 1900’s that the term was actually given its due importance by making it a vital part of advertising and marketing. The concept of marketing evolved substantially from being focused on sales of a product to having Customer satisfaction to be its focal point. Studies further revealed that there was a positive correlation between customer satisfaction and Brand Loyalty.