Sunday, August 25, 2019
The Impact Of The Big Name Brands On The Consumers Essay
The Impact Of The Big Name Brands On The Consumers - Essay Example Luxury has the power to give to people an idealized image of beauty and satisfaction. Until the mid 20th century few people could afford to have luxurious items and only a privileged class of society had access to luxurious items. However in the past fifty years, the tide has turned and luxury has come down to the majority of the people in the shape of brands, which are targeted at upper middle class. This change to brands (luxury) started its way slowly in the 1980s, where the rise of individualism fueled the power of business and brands sprouted up to be consumed by wealthy consumers. The purpose of the brands was to spread the charm and luxury creating a personality cult, where people would identify themselves with their brands (Koehn,2001). Branding is the foundation for a business, which is meant to label a product. In marketing, the brand is considered as an embodiment of all information related to a product. A brand normally includes a name, logo, images, fonts or services, which typically arise in consumerÃ¢â¬â¢s mind, when a name or logo is mentioned. Thus we can say that brand is a combination of attributes, which are communicated through emotional attachment with a product. The value of the brand is in the mind of the consumer, which creates this promise of satisfaction. However brand is not merely creating the emotional attachment, but it moves beyond emotional forms and give two kinds of experiences; direct and indirect messaging. For example, a customer driving a car is gaining direct experience. However it is not possible for marketers to send a direct message for all their products, they opt for indirect experiences, such as Nikkei products are associated with fun, excitement, and sport as portrayed in TV commercials and magazines (Bush & Victoria, 2004). This kind of branding is repeated again and again to make it effective in the consumer's mind. Thus we can say that branding main purpose is to convey product message in multiple ways involving consumers in a compelling way to think and buy the product. The value of the brand lies as a security for the company earnings.
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