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MKT302 Mod 2 Case: The Marketing Mix: Products and Brands - Coursework Example

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The Marketing Mix: Products and Brands Automobile Brand: Toyota Fast Food Restaurant Brand: Coca Cola Customer’s The Marketing Mix The marketing assignment looks into the relationship that exists if any between customers and brands, the role played by brands, and finally the views customers have of brands developed through marketing and non-marketing influences…
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MKT302 Mod 2 Case: The Marketing Mix: Products and Brands

Download file to see previous pages... The assessment will finally justify the existing relationship between consumers and brands and why this relationship exists for some brands and not others. A brand is a sign, design, symbol or summation of all of them, for the purpose of proving the goods or services of one seller, or a group of entrepreneurs, and to distinguish them from those of competitors (Peterson, 2007). Essentially, a brand is an indicator which shows the buyer what to anticipate from buying in regards to quality, service, and functionality among other features. A brand is a recognition factor which, specifically at the sale point terminal, can help a buyer to reach a purchase decision. A product, on the other hand, is anything that can be offered to a market for attention, acquisition, use or consumption. A product includes objects that are physical in nature, services, ideas, locations, firms and personalities. Positioning as it relates to marketing is the act of designing a product so that it takes up a precise and valued place in the minds of the target consumers. Finally, relationships with brands are a description of the associations and beliefs that consumers have about the brand. A brand can mean good and bad things to people. Consumers are drawn by various brands but not all. There exist valid justifications for brand rejection by consumers for instance, poor experience in customer service, or in product quality or perhaps because of influences coming from a family member. Nevertheless, brand rejection still occurs. Because of the danger of brand rejection, marketers work hard to protect the image of the brand by spending huge amounts of money on advertising and publicity. At the end of the day, marketers perceive the brand as a major asset which works in their favor. The more loyalty that can be created, the better a brand becomes and the better the branding the more loyalty that it is likely to create. Branding is important in marketing since it is a way of communicating with the targeted consumers, creates business credibility through innovative products and services, creates loyalty and consumer connection to the product and finally motivates the buyer to buy other products from the company due to brand satisfaction (Sandhusen, 2000). Professor Fournier means that having a relationship with a brand is not about brand expression but the purposeful nature of brand relationships as meaning-laden resources engaged to help and support people in living their lives. Brand relationships provide more than meanings to the consumers who engage in them since they are functional and extract greater exchange value from the company and the brand (Brassington & Pettitt, 2003). Fournier also emphasized that consumer-brand relationships are quite complex and they take many forms and range across several dimensions. The relationships could also be meaningfully distinguished as hierarchical versus egalitarian or forced versus voluntary for example; precipitating many different relationships types and forms e.g. childhood friendships and master-slaves relationships. This builds on the perception that profiles of emotion are useful to differentiate relations among humans. Emotions play a major role in different brand relationships in that people in relationships involving exchange are delighted ...Download file to see next pagesRead More
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