Risks Faced By Infrastructure Projects in Emerging Markets
Infrastructure projects are most needed in developing nations. These are the countries where infrastructure projects are able to create the most growth. This is because the spillover effects of infrastructure projects are felt significantly in emerging markets. Ideally, emerging markets should create policies that attract more and more foreign investment on to their shores. However, […]
Importance of Persuasion in Marketing and Sales
Persuasion skills are extremely important for sales and marketing professionals as they are paid not only to interact with potential customers but also motivate them to invest in organization’s products and services. Overall performance of marketing and sales professionals is measured by the number of clients they could tap for their company. Marketing is the […]
The Biological Perspective of Psychology (Biopsychology)
The Biological Perspective or Biopsychology is a latest development in the field of psychology which has acquired increasing importance as a specialized branch of psychology in recent times. This branch of psychology is also known by different names like Psychobiology, Biological Psychology, Behavioural Neuroscience and Physiological Psychology. The Biological Psychology attempts to analyze the relationship […]
Types of Budgets in Public Administration
The public budgets are different from other forms of budgets in many ways; here the voters delegate the power of spending their money to the politicians or the elected representatives. Now having understood the concept of budget in the last article, let us understand the different kinds of budget that are there in the public […]
How Loss Aversion Affects Investment Decisions
Behavioral financial analysts have conducted a significant amount of research in order to understand how investors process loss. In the process, they have found out that most investors have an innate aversion to losses. This causes them to make wrong decisions while investing. In this article, we will have a closer look at what loss […]
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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