Assignment IV

Assignment IV

Q 1: Brand Elements

There are number of different elements that can help the brand to differentiate from the competitors in the market. However, the most important element that differentiates the brand from the competitors is its image. To fully comprehend the meaning of brand image, one must understand the branding process. First, marketers create awareness of their company's products and services through publicity and promotional efforts. Before even buying a company's products and services, consumers begin to develop opinions and attitudes; in other words, they start to develop a brand image. Second, once the public begins to buy and use a company's unique products and services, the consumer's previous opinions and attitudes are either reinforced or changed. It is consumer opinions and attitudes that set the stage for a positive or negative brand image. Third, if marketers are able to shape a positive brand image, this will eventually lead to creating brand equity. In simple terms, brand equity is the reputation of a company's products and services that consumers hold in comparison to their competitors. Fourth, a positive reputation ultimately leads to consumer brand loyalty (Wheeler, 2009).

Brand image can be viewed as traits and qualities. In essence, brand image is the character of products and services. This character can be described as a set of beliefs consumers hold about a brand. These beliefs in turn shape consumer attitudes toward brands. In the end, marketers hope to have created strong, positive attitudes through brand associations. Since brand associations help influence brand image, marketers need to ensure that the messages behind all brand associations are both strong and flattering. 

Another element that differentiates the brand from the competitors is the consumer's preference. The main objective for any marketer is to gain favorable attitudes from consumers to increase the overall profitability of the brand. However, this is difficult to achieve because consumers invariably approach the marketplace with a predetermined set of likes and preferences (Keller, 2008). As research shows, it is well ...