tenets, that the brand aims to live up to, they become a crucial part of the brand identity and, with time, the brand's heritage.
Use of Symbols
Monarchies are a prime demonstration of an institution that uses symbols for expressing its meaning and heritage. These involve the monarch's motto as well as the Crown and the uniformed royal guard. Sport-based company Nike’s, the 'Swoosh' has become an internationally recognised symbol that not only identifies the company but also shows what it stands for.
Jaguar's two most crucial symbols were described to us by Simon Wilson, head of market research, who characterises Jaguar as 'beautiful fast cars': 'The "Leaper" is the big symbol of Jaguar. There are two symbols, the "Growler" that sits on the steering wheel and the Leaper on the bonnet. The big discovery point is...
It refers to the value of the goods shows in dollars and cents, to what is given up or sacrificed to gain a product (e.g., Ahtola 1984; Chap- man 1986; Mazumdar 1986; Monroe and Krishnan 1985). Similar to firms, customers also try to minimise the costs and other oblations that may be involved in the purchase, ownership, and use of a product (Smith and Colgate 2007). Overall, the economic value refers to the cost/sacrifice in terms of (1) economic costs, such as operating price, product costs, opportunity costs, and switching costs; (2) psychological–relational costs including cognitive difficulty/stress, conflict, search costs, learning costs, psychological switching costs, and psychological relationship costs, as attachment; (3) the personal investment of consumers, the energy, and effort customers devote to the consumption and purchase process; and (4) the risk (personal risk, financial risk, operating risk, or strategic risk) perceived by consumers in buying, owning, and using a product (Smith and Colgate...
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