Difference between Market Segmentation, Targeting and Positioning
A market refers to a set up where two or more parties are involved in transaction of goods and services in exchange of money. The two parties here are known as sellers and buyers. It is the responsibility of the marketers to create awareness of their products amongst the consumers. It is essential for the […]
Strategic CRM – Mainitain Long Term Relationship with Customers
The aim of strategic CRM is to concentrate and enhance the knowledge about customers and use this knowledge to improve and customize the interactions with customers to maintain a long-term relationship with them. Determining and development of CRM strategies involves following steps: Amplify Commitment- Strategic CRM involves almost all the departments of an organization e.g. […]
Theories of Consumption & Consumer Behaviour: Social, Economic, and Cultural Perspectives
We live in a consumer society where the ownership of goods and consumption of services pervades every aspect of our existence. Ever since the global economy began to be integrated and tightly interconnected, consumption of goods and services has been taken to new heights with an accent on owning goods from economic, symbolic and consumer […]
Services Marketing – Moment of Truth
Every business knows that in order to thrive it needs to differentiate itself in the mind of the consumer. Price has proved inadequate since there is a limit to how much a firm can cut back on its margins. Product differentiation is also no longer enough to attract or retain customers since technological advances have […]
Strategic Leadership – Definition and Qualities of a Strategic Leader
Strategic leadership refers to a manager’s potential to express a strategic vision for the organization, or a part of the organization, and to motivate and persuade others to acquire that vision. Strategic leadership can also be defined as utilizing strategy in the management of employees. It is the potential to influence organizational members and to […]
Brand Associations are not benefits, but are images and symbols associated with a brand or a brand benefit. For example- The Nike Swoosh, Netflix sound, Film Stars as with “Lux”, signature tune Ting-ting-ta-ding with Britannia, Blue colour with Pepsi, etc.
Associations are not “reasons-to-buy” but provide acquaintance and differentiation that’s not replicable. It is relating perceived qualities of a brand to a known entity.
For instance:
Brand association is anything which is deep seated in customer’s mind about the brand. Brand should be associated with something positive so that the customers relate your brand to being positive.
Brand associations are the attributes of brand which come into consumers mind when the brand is talked about. It is related with the implicit and explicit meanings which a consumer relates/associates with a specific brand name.
Brand association can also be defined as the degree to which a specific product/service is recognized within it’s product/service class/category. While choosing a brand name, it is essential that the name chosen should reinforce an important attribute or benefit association that forms it’s product positioning. For instance - Power book.
Positive brand associations are developed if the product which the brand depicts is durable, marketable and desirable. The customers must be persuaded that the brand possess the features and attributes satisfying their needs. This will lead to customers having a positive impression about the product.
Positive brand association helps an organization to gain goodwill, and obstructs the competitor’s entry into the market.
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