Buyer Behavior

Topics: Brand, Brand management, Branding Pages: 10 (2737 words) Published: April 29, 2013
Brands, Products and Consumers

Cheng Li
ID: 3964826

1. Introduction

Brand and products have become apart of our lives.

What is a brand? You to a strange city, hungry and looking for a hotel, the hotel is also a lot of what you see is also a lot to look decent. But mostly unfamiliar names, except a McDonald's you know. Here are a few hotels, would you please tell me your choice:

Option one : McDonald's (the taste was acceptable, but less food to enjoy)

Option two: one decorated luxury hotels

Option three: there are a lot of people queuing

Option four : Ask the locals which one to do the best job, and then to decide according to his choice

What is your choice? In fact, no matter how you choose, I can understand why this election:

If you choose one, because you do not want to take any risk, you have tried and can accept goods to choose. Obviously McDonald's will not be the best of all options in taste, but at least will not make mistakes.

If you choose two, because in real terms to judge you by your appearance that decorated luxury with the quality of the food is great. Results of course, only if you know, but often bill that is consistent with the expected (the price is often higher). If you satisfied this store, you would think that this is a relatively high grade shop; this store disappoints you, you will think this is a unscrupulous.

If you select the three, because you think a lot of people are willing to go where it should not be bad to go.

If you choose the four, is because you believe the locals certainly have tried every certainly recommend to you is yes.

What is the correct answer? Any one choice may be correct, but the network according to our 2000 sample survey, 85.3% of people choose McDonald. You may not be surprised, because such a high proportion of you likely also chose McDonald's. Why? McDonald's neither taste the best, and they would never be in long queues in front of the store, the locals can not recommend to you, that is what makes the high proportion of people choose it? This is the magic of the brand.

Imagine your company's product like a hotel, while the choice of hotel is the consumer, then, how you become the object of the 85.3% of people choose it? We first look at the selection process has nothing in common: you have not noticed, the final choice depends on the consumer "feel" rather than the best quality or lowest price? We take a look at the marketing the father of Philips Cotler defined brand:

Brand is brought to the owners of premium value-added intangible assets, his carrier is used to distinguish and the products or services of other competitors name, term, symbol, mark or design, and combinations thereof, and value-added fountainhead from the impression formed in the minds of consumers about their carrier.

2. What is products and brands?

“A product is something that is made in a factory;a brand is something that is bought by a customer. A product can be copied by a competitor; a brand is unique. A product can be quickly outdated; a successful brand is timeless.” ------Stephen King, WPP Group, London

A brand is a distinguishing name and symbol (such as a logo, trademark, or package design) intended to identify the goods or services from those of competitors (Aaker p.7, 1991) [Aaker, D.A, 1991. Managing Brand Equity: Capitalizing on the Values of a Brand name. New York: The free press]

Brands are more than just names and symbols. They are a key element in the company’s relationships with consumer. Brands represent consumers’ perceptions and feelings about a product and its performance- everything that the product or service means to consumers. In the final analysis, brands exist in the heads of consumers. As one well-respected marketer once said, “products are created in the factory, but...
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