Chapter 1 Questions
Explain in your own words why we need brands?
Branding has become such an important aspect in our world today since the beginning but it became popular in the nineteenth century with the birth of mass production and mass marketing. This gave way to consumer brands, and we need brands because with mass production came large quantities of products being produced. Each product had a sameness, and they needed to distinguish each individual product to serve a purpose and gain customer satisfaction and loyalty as well as success in its field this began the creation of brands. We need brands to serve each individuals' needs and desires in their aspect of life. Having a product being produced from a certain brand is not really a necessity but because many of us feel the desire to own a certain brand it becomes a necessity. We need brands to fulfill our desires and necessities in our social lives to help us feel better and maintain ourselves in the right light buy a lifestyle provided to us by that certain brand. "The reality remains that branding is a major force in business, and brands play a very important role in our lives" (Hameide, 4).
The promise of the value is an important element of any brand. Explain its concept and its relevance to the brand.
Not only is the brand itself important it is the value of the brand that makes it successful, if the brand was only successful because of the name on it, it would fail to live its brand life cycle and fail because the consumer wants good quality for the money they are spending, and the value of the product depends on the quality and what the brand has promised to its customer. If that promise is not met, the value of the brand will fail and its customer loyalty as well. Each brand has to offer a certain aspect other competitors cannot, in doing this it will meet its customers' needs and when that brand offers a different aspect not relevant to that target customer it may fail in keeping the customers loyal. An example given to us in the book is from Harley Davidson, who tried to expand the brand in different segments such as a cologne and aftershave and also included ties. According to the book "Because of its disconnect with the brand's personality, the attempted brand extension failed. The proposed products did not fit with the Harley Davidson personality and values of rugged, strong masculinity" ( 9). They did not fit with its loyal customer base and failed to meed their needs and expectations from the brand.
Innovation and consistency may seem to be two contradicting notions. What does each term mean in relevance to the brand, and how do these two terms work together in defining it?
Innovation means to renew, redefine, enhance existing features, introduce new ones and become more creative within the brand to enhance the success and promote the value of the brand. Consistency of the brand is that each time a product or service is being offered from the brand the same value and promise is delivered each time, never changing for the worse and that the customer is always satisfied with the expectations of the brand as before. Both terms define the brand because without both of these the brand would fail, in order for a brand to be successful it has to meet its customers's needs even in those are changing due to technology, world issues, economic issues, etc. but it has to be able to maintain the value and promise of the brand in each product and service it offers without losing its value and customer loyalty. "A brand needs to be in tune with the times, and in sync with customers' needs and aspirations. It needs to respond to economic, technological, and generational needs and developments" (18).
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