Pros and Cons of Layering in Reinsurance
In the previous article, we have already studied the concept of layering and how it related to reinsurance policies. We are now aware that layering is used so that the risk can be comfortably placed between multiple reinsurance companies instead of a single reinsurer having to bear all the risk. Layering is a very popular […]
Carry Trade and Rollovers
Concept of Carry Trade Carry trade is a kind of trade that is peculiar to the Forex market. In other markets, traders trade with the intention of benefitting from capital appreciation. However, in case of carry trade, traders have two expectations. They want to earn cash from capital appreciation as well as from the interest […]
Leadership Development and Performance Management
Leadership Development in the present century has become a buzzword and many organizations use this as a crucial tool for gaining a competitive advantage in the business. Developing leadership talent is one of the most crucial functions of performance management today, as the system has evolved from an evaluative to a developmental and result driven […]
Financial Investment – Meaning, its Need and Different Types of Investments
It is human nature to plan for rainy days. An individual must plan and keep aside some amount of money for any unavoidable circumstance which might arise in days to come. Future is uncertain and one must invest wisely to avoid financial crisis in any point of time. Let us first understand what is investment […]
Why Properties Sell for Less Than Their Worth ?
If the words of Warren Buffet are to be believed, investing is all about buying dollar bills that are selling for 10 cents in the market. In essence, he talks about understanding the difference between the quoted valuation of an investment as well as its intrinsic valuation. Now, in case of stocks, temporary greed and […]
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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