Harley Davidson Perfume - the Sweet Smell of Failure
Autor: Jannisthomas • November 6, 2017 • 1,110 Words (5 Pages) • 945 Views
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An example of a customer that “turned their back” to the brand is for instance McDonald’s. They have been losing share over the past three years, and the major reason is that they marched away from one of their core brand equities, the value. One of the reasons for the decreasing of sales is the current move to a more expensive menu with more “premium items”.
- Whether there is a block for accepting new products and versions of products that are offered under the same brand in customers mind? Use practical examples that are known to you.
Each brand occupies an exclusive position in the customer's mind and develops its own identity, becoming hard to move it from this position by placing another brand instead. This positioning is based on the consumer's mind as a memory bank where the information you choose take their places, combining with existing information, while other information is rejected.
Consumers like quality and this is one of the main reasons why consumers are loyal to some brands, so when the consumer is familiar and has some good experience with the brand he keeps some positive brand links in memory making it easy to the brand to present new products and versions of the same product. So, if consumers have a good experience with the brand, they will keep purchasing their products and will be also happy if the brand comes up with new products.
- Are companies being real in assessment/evaluation of real values during the introduction of new products under the same brand or new brands for the same needs (depending upon the branding strategy they use)? What is for you a key source of the problems that appear in mismatch of perceptions of what new products/brands bring and what customers regard as valuable?
One of the main key source of the problems is that companies are not identifying the market needs. When bringing a new product to the market, companies should know their customers and develop products that can deliver superior benefits to customers.
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