MARKETING

Marketing

What is a brand? How do brands help consumers their purchase decisions? Illustrate your answers with example.

In marketing Brand is a sign, a name, a picture, a shape, an identity that gives your product distinction from other products. It is also the name or sign for which your business is known in the market. Or even how a particular service is differentiated and recognized by consumers. The Brand is a distinctive sign, visually perceptible, that distinguishes and identifies industrial product, commercial product or services. Brand is a means of distinguishing the consumer or competition (Danaher & Rossiter, 2011, 6-42).

The brand and image of a business are vital to its success. Strong brands build trust, which is particularly important in the case of buying any product or availing any services. Luxury brands posses an implicit positioning of high quality (Shukla, 2011, 242-252). The brand image or the branding of a product or services always effect on the buying decisions of the buyer. Well known brand establish a very good position which are even cashed by their counterfeit brands (Wilcox & Sen, 2009, 247-259). Simply we are led by current brand names that have become part of our daily life. But more important for the companies is to remembered its brand by its consumers. Every brand should have a clear positioning that identifies the target audience carefully, its differential detailed to the extreme and the minimum benefit provided to the end user (Ross & Harradine, 2011, 306-325).

For instance a person is in the super mart and he has to buy soap, he has a variety of soaps of different companies but now the decision of buying the soap will be in the favor of a well known brand. The reason behind that is the prestige image of a particular brand in the market. Most of the times customers does not try new brands as compared to well known brands, well known brands are always preference for the customers. One of the reasons behind that is the reliability and credibility of that brand. From evaluating the above mentioned example we can say that the brands most of the times helps the consumer in making decisions of buying in their favor (Pieltain et.al, 2011, 206-213).

Explain the difference between a push and a pull promotional policy. Explain the kind of promotional policy and communication vehicles you would recommend for the following products: A, a new brand of coffee And B, a new software program

The main difference between push and pull marketing lies in how consumers are addressed. In marketing push, the idea is to promote products, pushing them to people. For the marketing push, consider displays sales at your grocery store (Martín & Zaccour, 2010, 51-68). On the other hand, pull marketing, the idea is to establish a loyal audience and draw consumers to the product. Examples are Porsche and Lamborghini; you no longer need to advertise, as consumers come to them. Push marketing is a promotional strategy in which companies try to bring ...