Brand identity, loyalty and equity.
Brand identity, loyalty and equity.
The extent to which a company can evoke an emotional connection between its brand and its target markets will play a big part in determining its business success. By tapping into consumers’ emotions, a company is able to create a long-term relationship in which both consumer and business will enjoy (Robinette 2000, p.1). This essay will discuss the emotional connection a brand has with their consumers, explaining the need to be identifiable and unique with regards to the design of their name, trademark and packaging. A positive response from consumers will then ensure the value of a brand increases, contributing towards increased revenue for a company.
Businesses are constantly searching for ways to immediately provoke a positive emotional response from consumers, as soon as their product is viewed. The first impression, created by the look, feel or sound of the product, “encompasses the entire spectrum of consumers’ awareness, knowledge and image of the brand as well as the company behind it” (Belch et al 2012, p.160). This initial contact can be made at a shop, or through other marketing strategies such as advertising, promotions, mail outs, sponsorships or social media, with each platform leaving lasting emotional impressions on consumers.
A major goal of any company should be to create customers, by developing strategies around the four ‘P’s’ of marketing – Product, Price, Promotion and Place. Strategies around branding need to be considered in all four of these areas, such is the importance of brand marketing as a whole. After identifying a target demographic, a company should aim to stimulate their audience through the name, symbol and packaging of the product. Founded in 1964, Nike is a sports apparel brand, whose goal was to improve the performance of running shoes. This company has since become recognizable all over the world, whose trademark, appearance, value, and philosophy has evoked people of all
The extent to which a company can evoke an emotional connection between its brand and its target markets will play a big part in determining its business success. By tapping into consumers’ emotions, a company is able to create a long-term relationship in which both consumer and business will enjoy (Robinette 2000, p.1). This essay will discuss the emotional connection a brand has with their consumers, explaining the need to be identifiable and unique with regards to the design of their name, trademark and packaging. A positive response from consumers will then ensure the value of a brand increases, contributing towards increased revenue for a company.
Businesses are constantly searching for ways to immediately provoke a positive emotional response from consumers, as soon as their product is viewed. The first impression, created by the look, feel or sound of the product, “encompasses the entire spectrum of consumers’ awareness, knowledge and image of the brand as well as the company behind it” (Belch et al 2012, p.160). This initial contact can be made at a shop, or through other marketing strategies such as advertising, promotions, mail outs, sponsorships or social media, with each platform leaving lasting emotional impressions on consumers.
A major goal of any company should be to create customers, by developing strategies around the four ‘P’s’ of marketing – Product, Price, Promotion and Place. Strategies around branding need to be considered in all four of these areas, such is the importance of brand marketing as a whole. After identifying a target demographic, a company should aim to stimulate their audience through the name, symbol and packaging of the product. Founded in 1964, Nike is a sports apparel brand, whose goal was to improve the performance of running shoes. This company has since become recognizable all over the world, whose trademark, appearance, value, and philosophy has evoked people of all