Sunday, April 14, 2013

Choosing a Brand Image

There are several considerations to be made when a firm is creating a brand. To which group or segment of consumers is the product aimed at appealing? What product features are going to be emphasized in advertising? What position with respect to a consumer image has the firm's competition taken? These are all relevant questions in strategically choosing the appropriate brand for a product. Deciding which consumer market segment to target with your brand is a key aspect. For instance: while some consumers may drink Gatorade mixed with alcohol, this market segment is likely so small (and therefore insignificant) that marketing is more productive when targeted at a larger consumer group like athletes. Another key aspect in choosing a brand is deciding what product aspects will be emphasized in the marketing efforts. Gatorade serves as a good example of a firm who strategically chooses which features to emphasize. Because the objective is to appeal to athletes, the most heavily emphasized feature of Gatorade is its ability to hydrate. Had the objective been to appeal to alcohol consumers, an aspect such as flavor might have been more heavily focused on.  It is also important for the firm to consider things from the consumer perspective or imagine being in the shoes of the customer. Many consumers put a great deal of thought into choosing the brand that is most suited to their style. The firm must try and decide which group of consumers represents the largest segment of the market for the product at hand. A third important consideration is the brand images of the firm's competitors. Some firms may want to establish a unique brand image with respect to competitors. A smart firm will take extra care to choose the optimal brand name, since consumers have a tendency to remain loyal to the first brand they deem suitable to their preferences.

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