Tuesday, October 15, 2019
Brand Attributes and Consumer Motivation Essay Example | Topics and Well Written Essays - 500 words
Brand Attributes and Consumer Motivation - Essay Example One aspect that is very crucial to the success of our brand positioning is that it needs to relate to our target market. The company needs to improve on its technology so that it can employ better techniques of collecting and analyzing the market. This will help the company know what exactly is expected by customers. We need to improve our products and services according to the expectations of our customers while keeping in mind that their expectations continuously change. We also need to research on our competitors attribute in terms of their logo to make sure that our logo is unique to the market and that it is also acceptable in this market. This will help the company mitigate the risk of losing customers to competitors because of confusion in the similarities of the attributes. The company also needs to assess the brand differentiation strategy while keeping in mind the companyÃ¢â¬â¢s need to generate revenues. While positioning our brand, we need to consider the companyÃ¢â¬â ¢s market share and market size. This is by looking at the demand of the business activities in a particular market. The company needs to map the products and services in order to identify gaps in the marketplace, understand the competitors, understand if the company is entering a crowded market, and this will also help in understanding the criteria in which customers in a particular market position different brand in the market. This will help the company to make an informed decision on marketing strategies for the brand.