Brands, Brands, Brands
Sep 24th, 2011 by monicamoran
In one of our marketing class, one of our clicker questions asked us about the number of brands we use daily? The options were along the lines of less than 50, 50, 100 or more than 100. I picked less than 50 thinking that this was the most reasonable; you can’t use a 100 or more brands in one day. It’s impossible!
“Is it?” my friend next to me asked me, “think about it. When you wake up, the blankets you use, the clothes you put on, toothpaste, toothbrush, shampoo etc; that’s got to total up to more than a 100 in one day!”
“Oh ya, I didn’t even think of that!” I replied.
The point is, brands are everywhere. When you wake up in the morning to when you get back to your bed the number of brands you encounter throughout the day are endless. We may not be aware of it but it’s everywhere. We breath brands everyday, influencing our perceptions of various products, services and companies. Without brands or branding, companies spiral down to nothing.
Why do people choose to buy such expensive products such as those from Chanel, Burberry and Loui Vutitton when there are products that can be bought for a cheaper price but still of good quality? The answer is simple. Branding. Such fashion companies build such a reputation for themselves as a result of creating brand loyalty. They create advertisements based on celebrity endorsements, sponsor high-end-fashion magazines, with simple yet chic images of skinny models. People want the elegant and rich lifestyle, high-end fashion designers provide them a picture of that: buy the product and that’s how you’ll feel. Deceiving? Yes. Ineffective? Abosolutly not.
Furthermore, with companies being able to build such a successful brand reputation, they are able to set prices high knowing that there are thousands of consumers out there still willing to purchase that purse or those shoes for thousands of dollars. I know I have. To be able to beat out competitors and rise up from the ground, marketing must start with building the brand because that’s the key to consumer demand. A brand may be simple yet it’s value can be worth so much more.