Marketing mix Brands and Products Essay - 1375 Words

Marketing mix Brands and Products (Essay Sample) Content: The Marketing Mix: Products and Brands Automobile Brand: Toyota Fast Food Restaurant Brand: Coca ColaCustomers nameInstitutionInstructors Name:Course NameThe Marketing MixThe marketing assignment looks into the relationship that exists if any between customers and brands, the role played by brands, and finally the views customers have of brands developed through marketing and non-marketing influences. A definition of brands, positioning, products and relationships will be made. The assignment will also analyze two brand category examples and relate any relationship that may exist between them and the customers. It will also look at Professor Susan Fourniers argument about the existence of a relationship between consumers and brands. The assessment will finally justify the existing relationship between consumers and brands and why this relationship exists for some brands and not others. A brand is a sign, design, symbol or summation of all of them, for the purpose of p roving the goods or services of one seller, or a group of entrepreneurs, and to distinguish them from those of competitors (Peterson, 2007). Essentially, a brand is an indicator which shows the buyer what to anticipate from buying in regards to quality, service, and functionality among other features. A brand is a recognition factor which, specifically at the sale point terminal, can help a buyer to reach a purchase decision. A product, on the other hand, is anything that can be offered to a market for attention, acquisition, use or consumption. A product includes objects that are physical in nature, services, ideas, locations, firms and personalities. Positioning as it relates to marketing is the act of designing a product so that it takes up a precise and valued place in the minds of the target consumers. Finally, relationships with brands are a description of the associations and beliefs that consumers have about the brand. A brand can mean good and bad things to people. Consumer s are drawn by various brands but not all. There exist valid justifications for brand rejection by consumers for instance, poor experience in customer service, or in product quality or perhaps because of influences coming from a family member. Nevertheless, brand rejection still occurs. Because of the danger of brand rejection, marketers work hard to protect the image of the brand by spending huge amounts of money on advertising and publicity. At the end of the day, marketers perceive the brand as a major asset which works in their favor. The more loyalty that can be created, the better a brand becomes and the better the branding the more loyalty that it is likely to create. Branding is important in marketing since it is a way of communicating with the targeted consumers, creates business credibility through innovative products and services, creates loyalty and consumer connection to the product and finally motivates the buyer to buy other products from the company due to brand sat isfaction (Sandhusen, 2000). Professor Fournier means that having a relationship with a brand is not about brand expression but the purposeful nature of brand relationships as meaning-laden resources engaged to help and support people in living their lives. Brand relationships provide more than meanings to the consumers who engage in them since they are functional and extract greater exchange value from the company and the brand (Brassington Pettitt, 2003). Fournier also emphasized that consumer-brand relationships are quite complex and they take many forms and range across several dimensions. The relationships could also be meaningfully distinguished as hierarchical versus egalitarian or forced versus voluntary for example; precipitating many different relationships types and forms e.g. childhood friendships and master-slaves relationships. This builds on the perception that profiles of emotion are useful to differentiate relations among humans. Emotions play a major role in diffe rent brand relationships in that people in relationships involving exchange are delighted and fulfilled; real partners undergo feelings of happiness, gratitude and satisfaction; adversaries feel anger, irritation and skepticism in relationships with their brands (Pride Ferrell, 2008). The contractual differences between the various forms and types of consumer-brand relationships matter significantly. Finally having a relationship with a brand according to Fournier involves understanding that brand relationships are process phenomena since they evolve and change over a series of interactions and in responses to contextual change. Brand relationships grow along pillars necessary to the kind and role of the involvement at hand. The fundamental process in brand specification is to prove the primary factor fostering a particular brand relationship and reveal the milestones and ways that correspond to the advances made along this road. The automobile brand that I put my emphasis on is To yota. The brand is a great product and its branding strategy is way far ahead compared to its Japanese competitors Nissan and Honda. Toyota is a strong and a tough brand and the company claims that 80% of all Toyotas sold in the last 20 years are still on the road at the present moment. Toyota is a great auto-brand since the company has built its brand around five key factors namely, durability, reliability, affordability, and style and finally fuel efficiency. The company has contributed to its products being a safe choice for its consumers. As the company brands continue to grow with repeat customers, Toyota is strengthening its appeal with younger consumers. Prior to Toyotas historic recall in November 2009, over three-quarters (83%) of U.S. adults surveyed were positive about the brand and only 17% were negative. The majority of consumers for the brand had tremendous confidence in Toyota. The brand has always stood for quality, reliability and positive customer experience. The c ompanys new motto of moving forward is a new communication strategy adopted by the company to its consumers and is picking up well with them. Despite painful recalls due to defective accelerator pedals consumers a...