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13005 Cultural Levels and Business

Considering the business point of view, it is valuable to deliberate of culture as presented at four diverse levels namely the national, business, industry and organization. National Culture comprises of the distinguishing common values, thoughts, suppositions, faith and customs of the occupants of a country which direct their behavior. For instance, the Scandinavian countries rest […]

13006 Culture and Global Business

Introduction Culture involves the manner in which individuals imagine, sense and do. It changes from one country, industry and organization to the other. From a business point off view, it is helpful to consider of culture as comprising of four different levels. These levels are of nation, business, industry and organization. Every one of these […]

13016 Customer Acquisition Cost

Customer acquisition cost is the cost which suppliers invest to acquire a new customer. This cost should be always less than the overall value of customer in the entire customer life-cycle. For example, if the cost incurred to acquire a customer is $10, but the contribution of the customer to the profit is only $9 […]

13017 Customer Acquisition – Meaning and its Process

Customer acquisition is the process of acquiring new customers for business or converting existing prospect into new customers. The importance of customer acquisition varies according to the specific business situation of an organization. This process is specifically concerned with issues like acquiring customers at less cost, acquiring as many customers as possible, acquiring customers who […]

13018 Customer Based Brand Equity

Imagine walking in aisle of a typical super market (Shaw’s, Costco etc) to purchase salt, there are many offerings but choice is “Morton”. It is a simple example but a great situation to understand brand and brand equity. Companies already know that identity of product created over period of time through strategic marketing is brand, […]

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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:

  1. Functional benefits - what do you do better (than others),
  2. Emotional benefits - how do you make me feel better (than others), and
  3. Rational benefits/support - why do I believe you(more than others).

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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