Understanding Brands (Creating Success) by Peter Cheverton

By Peter Cheverton

Good model administration is the path to getting a model to paintings more durable, make its right mark and attain good fortune. Any model, new or outdated, has to be controlled, nurtured, exploited and, while worthwhile, replaced. if you be aware of that model administration is important yet do not know the right way to pass approximately it, realizing manufacturers illustrates what a model is, what it might probably do for them, and the way it helps the strategic objectives of the business.

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Their creations will often surprise you, sometimes disappoint you, and just sometimes they might depress you. 26 ᔡ Understanding brands Let’s say your product is an upmarket non-alcoholic cocktail drink. It can be an unsettling exercise when the brand you aim to position as an aspirational ‘taste experience’ with connotations of good health is illustrated with pictures of mushy peas or pot-bellied ‘lads’ out on the town. Unsettling, but this is something you need to know – is the brand coming across to the customer as you intend?

Customer expectations and loyalty We will consider two variables that help to determine the customer’s expectations and so help define the level and type of loyalty they may show for a brand. These are the significance of the purchase to the customer, and the amount of money involved. Significance and brand awareness The significance of the brand to the customer results from a number of factors, but perhaps principally the following two: 1) the more complex the relationship the customer has with the brand, represented by the number and variety of the brand interactions, the greater the chance of building long-lasting loyalty; 2) the more the brand can identify with the customer’s pressing issues – getting under their skin – the more chance for building long-lasting loyalty.

Of course, this particular battle has only just begun. The death of proprietary brands? Does the rise and rise of the retail brand imply the decline and fall of the proprietary brand? Probably not, provided that the suppliers recognise the challenge and evolve their brands accordingly. It shouldn’t be supposed that the retailers have it all their own way. Their customers have certain expectations of what they will find in store, particularly with regard to certain brand names – their favourites, the big names, the recently promoted – and if they are disappointed, then they may just change the store they shop in.

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