Brand resonance refers to the perceived and measurable psychological investment that targeted customers have with their preferred brands. It inculcates the relation that market brands have established with their clients and the loyalty with which customers have bestowed on their brands (Jung et al., 2014). With a well-structured and dedicated managerial team, every brand can achieve brand resonance by employing the underlying accredited steps upon which brand resonance can be attained a fact that is exemplified by the brands such as MasterCard that have applied a duality in their branding and have achieved renowned resonance. Therefore, with dedicated expertise, every brand can adequately achieve brand resonance (Keller et al., 2011).
How Companies can build a Strong Brand
The stepwise approach towards ensuring brand resonance inculcates a systematic comprehension of the business enterprise, its competitors, consumers and the prevailing market environment (Keller et al., 2011). The proposed steps to market dominance and brand resonance involve establishing identification within the customers mindset based on a specific need and class. The next step involves establishing brand totality to the customers by strategically creating intangible and tangible host association links. Consequently, elicit customer feedback on the customers feelings and judgments of the brand. Finally, the last step involves converting the accrued responses to establish a credible loyalty based relationship between the enterprise and the consumer (Gurhan-Canli et al., 2016). MasterCard has successfully employed this step due to client satisfaction; therefore, fewer defections and a higher rate of reiterate business and referrals. It has therefore developed an emotional advantage with its customers compared to other credit cards.
The Role of the Internet in Building Brands
The modernisation of the marketing arena has witnessed the progressive evolution in company marketing tactics to establish brand dominance. This resurgence has based its success on the internet's global outreach and instant client access. (Shaari et al., 2017) The Disney Brand exemplifies the role by which the internet has ensured brand growth, and progression Disney's website from the onset clearly appeals to its consumers as well as onlookers by employing promotional popups, easily accessible informational links, and a well-defined search algorithm. This site, therefore, serves to only appeal to new clients but also ensures reiterate business strategies for customers. The website is always up to date and regularly updates its database as well as corrects any identifiable bugs. The seamless and easy access to Disneys themed upcoming promotional events creates customer satisfaction. A client feedback portal is also embedded on the site to gauge customer feedback. This together with the option of having regular mail for customers ensures emotional appeal and loyalty of the customers.
Importance of Value Pricing in the Marketing Strategy
In a well-structured marketing strategy, value pricing creates a pillar upon which success of the enterprise can be upheld about ensuring a competitive niche. Value pricing ensures that the cost of the good or service offered is profitable but does not exceed consumer margin to ensure daily consumption (Kireyev et al., 2014). The consumer should feel that they are getting a good deal and this ensures a good profit margin about the current economy. Therefore, this plays a critical role in marketing strategies to create a perceived trust contract between the brand and the customer, which will eventually determine the success of the marketing strategy.
Coupon Supplements and Brand Building Strategies
From the local Sunday newspaper, several brands are utilizing advertising strategies to establish brand equity. Apple computers were recently advertising their new MacBook computer. Apple as a brand exemplifies a high brand equity due to adequate brand awareness and a trusted brand image. Apple has embodied its image to the consumer as a strong and dependent brand, and therefore this marks as a strong base and subsequently a higher brand equity. On the other hand, a local advert of an upcoming fast food supply chain lacks the customer knowledge base to adequately appeal to new customers. The advert reveals that it lacked a good price description and does not clearly describe how the customer can access the mentioned services.
Boeing Ingredient Branding Strategy
Boeing has established its dominance in the commercial airline business and has constantly evolved in ensuring a competitive outlook against other airline manufacturers. With the noted evolving consumer sophistication ingredient, branding could prove profitable to Boeing. This can be achieved by citing internationally recognized component brands in their engines or other accessories within their architectural designs. This proves advantageous to their target consumers both commercial, and individuals as this minimize ambiguity in their manufacturing plans and make it more relatable to the consumer. It also serves to differentiate their designs from other manufacturers and ensures sustenance of their already established market dominance. However, a setback of ingredient branding is that it will create complexity, therefore, alienating the target consumer by citing technical engineering terms in the marketing strategy.
Several athletes who have accrued international acclamation and success in their careers have often fallen victims to inadequacy in international recognition due to poor branding. Some of the great athletes including Tiger Woods and Michael Jordan incorporated brand management in their routine. For athletes not well versed with branding strategies, a useful conceptual framework involves inculcating their attractive appeal, on-field traits, and off-marketable field attributes (Arai et al., 2014). This move ultimately involves employing well-versed managers that can help build their brand both in the field as well as off the field
Gurhan-Canli, Z., Hayran, C., & Sarial-Abi, G. (2016). Customer-based brand equity in a technologically fast-paced, connected, and constrained environment. AMS review, 6(1-2), 23-32.
Shaari, H., & Ahmad, I. S. (2017). Brand resonance behavior among online brand community. International Review of Management and Marketing, 7(1).Jung Jung, H., Lee, Y., Kim, H., & Yang, H. (2014). Impacts of country images on luxury fashion brand: Facilitating with the brand resonance model. Journal of Fashion Marketing and Management, 18(2), 187-205.
Keller, K. L., Parameswaran, M. G., & Jacob, I. (2011). Strategic brand management: Building, measuring, and managing brand equity. Pearson Education India.Kireyev, P., Kumar, V., & Ofek, E. (2014). Match your own price? self-matching as a retailers multichannel pricing strategy. Tech. rep., Working Paper, Harvard Business School.Arai, A., Ko, Y. J., & Ross, S. (2014). Branding athletes: Exploration and conceptualization of athlete brand image. Sport Management Review, 17(2), 97-106.
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