Leveraging Technology to Build Operational Excellence
Have you ever wondered as to what it is that makes the Market Leaders perform so well in the market and command as well as sustain the leadership position?. Well, the answer lies in their ability to choose the right marketing value proposition and build the entire business model as well as operations aimed at […]
The Endowment Effect
The endowment effect is another important psychological barrier that helps people from realizing the full potential value of their investments. Like other cognitive biases, it obscures the thinking of the investor and gets them to make decisions, which can be described as “suboptimal,” to say the least. In this article, we will have a look […]
The Effect of Recession on Rewards Management
Impact of the Recession on Rewards Management The previous articles in this module had discussed the various facets of rewards management and the factors that determine monetary and nonmonetary rewards. This article discusses the impact of the ongoing economic crisis on the quantum of rewards both monetary and nonmonetary that are being actualized across the […]
Effective Team Building Strategies that can be Implemented by any Organization
The Importance of Team Building Team Building is significant for organizations to actualize optimal performance and enhanced levels of results. Indeed, without team cohesion and the sense of unity of purpose, no organization can hope to survive the neck tight competition as otherwise, the teams would be working at cross purposes with that of the […]
Types of Relationships between the Input and Output
The scatter plot can be a useful tool in understanding the type of relationship that exist between the inputs (X’s) and the outputs (Y’s) No Relationship: The scatter plot can give an obvious suggestion if the inputs and outputs on the graph are not related. The points will be scattered throughout the graph with no […]
Brand image is the current view of the customers about a brand. It can be defined as a unique bundle of associations within the minds of target customers. It signifies what the brand presently stands for. It is a set of beliefs held about a specific brand.
In short, it is nothing but the consumers’ perception about the product. It is the manner in which a specific brand is positioned in the market. Brand image conveys emotional value and not just a mental image.
Brand image is nothing but an organization’s character. It is an accumulation of contact and observation by people external to an organization. It should highlight an organization’s mission and vision to all.
The main elements of positive brand image are-: unique logo reflecting organization’s image, slogan describing organization’s business in brief and brand identifier supporting the key values.
Brand image is the overall impression in consumers’ mind that is formed from all sources. Consumers develop various associations with the brand. Based on these associations, they form brand image.
An image is formed about the brand on the basis of subjective perceptions of associations bundle that the consumers have about the brand. Volvo is associated with safety. Toyota is associated with reliability.
The idea behind brand image is that the consumer is not purchasing just the product/service but also the image associated with that product/service. Brand images should be positive, unique and instant.
Brand image can be strengthened using brand communications like advertising, packaging, word of mouth publicity, other promotional tools, etc.
Brand image develops and conveys the product’s character in a unique manner different from its competitor’s image. The brand image consists of various associations in consumers’ mind - attributes, benefits and attributes.
Brand attributes are the functional and mental connections with the brand that the customers have. They can be specific or conceptual. Benefits are the rationale for the purchase decision.
There are three types of benefits:
Brand attributes are consumers overall assessment of a brand.
Brand image has not to be created, but is automatically formed. The brand image includes products’ appeal, ease of use, functionality, fame, and overall value. Brand image is actually brand content.
When the consumers purchase the product, they are also purchasing it’s image. Brand image is the objective and mental feedback of the consumers when they purchase a product. Positive brand image is exceeding the customers expectations. Positive brand image enhances the goodwill and brand value of an organization.
To sum up, “Brand image” is the customer’s net extract from the brand.
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