Branding and marketing
A brand is how we can relate to an entity. For marketing purposes branding facilitates with the following 3 elements:
- Brand communication
- As humans communication is key to link people together and create relationships. For marketing purposes brand communication helps us make meaning of a product or service. A brand’s communication can influence satisfaction and trust.
- Brand satisfaction
- Brand satisfaction is a transactional experience allowing us to reflect on past experiences. If this reflection evokes positive emotional responses then brand trust is automatically increased.
- Brand trust
- If we rely on a seller to deliver goods or services then we trust that brand. Brand trust can also be regarded as a consumer’s perception of the benefits enjoyed versus the cost incurred in the maintenance of an ongoing exchange relationship. In other words trust takes time to build and, therefore, cannot be automatically created.
The 3 points above, brand communication, satisfaction and trust, are written within a B2C context. B2B however will view brands differently and are likely to view 3 advantages to branding: manufacturer support; brand equity; and customer expectations.
What influences price premium?
A brand’s image influences price premium because it is comprised of 3 elements: familiarity; attention to service; relationship management. Collectively these 3 elements influence price premiums.
On the other hand your brand, through player transgression, can terminate relationships by 4 elements: cooperation; trust; mutual understanding; and brand benefits. Communication is key to maintaining consumer relationships.
It was reported in the 1990s that if price and quality were met then a firm’s reputation and brand play a role in the purchasing decision. Your brand’s image can determine your success and help you develop as you progress into the future.
A brand’s personality is a set of human characteristics associated with a brand. Brand personality is affected by a brand’s perception: attitude; perspective; and consumer view. The 3 traits of a brand’s perception influence the development of a consumer’s positive brand personality.
Every marketer, in summary, wants a strong brand to gain trust through communication and customer satisfaction. B2B consumers are more likely to hardness long-term relationships whereas B2C often embrace in short-term relationships. Branding can influence these long- and short-term relationships by building familiarity, relationships and, more importantly, trust.
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Posted by Gerald Murphy
- Azize, S. Cemal, Z. and Hakan, K. (2012) Does Brand Communication Increase Brand Trust? The Empirical Research on Global Mobile Phone Brands. Social and Behavioural Sciences. 58(2012) pp. 1361–1369
- Lindgreen, A. Beverland, M.B. and Farrelly, F. (2010) From strategy to tactics: Building, implementing, and managing brand equity in business markets. Industrial Marketing Management. 39(2010) pp. 1223–1235