A BRAND'S VALUE

Just a couple thoughts from my desk....

A Consumer sees a particular brand name as an invisible contract. The brand name may reduce the buyers' sense of doubt or uncertainty, allowing them to purchase or trust the brand, improving their sense of value. Promoting a brand can address either the prices, actual brand attributes or the feeling of brand attributes. Product value is shown to the consumer using regular and consistent visual cues and a consistent message, allowing the buyer to quickly distinguish between the different brands available and their perceived product value and attributes. As a buyer considers the actual product features in connection with the brand values, along with cost, they can quickly arrive at your brand in the marketplace for purchase consideration. The brand's value can then become even more dependent on effective communications in the marketplace and products value can be improved with more effective communications.

A products perceived value(s) becomes part of the tradeoff a buyer will consider as they weigh the tangible benefits against the cost, whether monetary or labor to own, helping them to make their purchase decision. Products that have high perceived value are always first in a buyer’s consideration and then ease of use second. When a product's combined actual value and perceived value are consistently higher than any other product in the category, that product will have the highest customer loyalty in terms of purchase, repurchase, and recommendation. Generally, competing brands can improve market share against the brand leader by lowering costs initially or for a short term, improving their product's actual features or improving their brand's perceived benefits, using effective communications.

NOT ALL consumers are created equal, some will always shoot for the deal or buy on price, making effective communications essential to reaching these consumer's and expanding your market base. Often, recommendation and brand loyalty is not enough; a bad economy is a perfect example of this model. Many consumers have to purchase outside their perceived valued product due to cost, making it even more important to prove your products value on a consistent basis with them or increasing your brand's base to make up the cost of lost brand loyalists.

We believe the best communication is constant communication especially in a downturn; many smaller brands seize your market share and can hold onto it after the downturn, if the buyer feels their new brand meets their perceived needs. If you can keep these brands at a distance from your market share, by effectively communicating your value, obviously you will continue to WIN!~