What is A Brand? A brand is a promise A brand is the totality of perceptions -everything you see, hear, read, feel, think, etc. -about a product, service or business A brand holds a distinctive position in customers' minds based on past experiences, associations, and future expectations A brand is a short-cut of attributes, benefits, beliefs and values that differentiate, reduce complexity, and simplify the decision-making process O Copy rights reserved, Zou Deqiang 21
21 21 © Copy rights reserved, Zou Deqiang What is A Brand? • A brand is a promise. • A brand is the totality of perceptions – everything you see, hear, read, feel, think, etc. – about a product, service, or business. • A brand holds a distinctive position in customers’ minds based on past experiences, associations, and future expectations. • A brand is a short-cut of attributes, benefits, beliefs and values that differentiate, reduce complexity, and simplify the decision-making process
CHT DEUTSCH 125 Q廉图 RANCAIS HABLA ESPANOL HERE ARE 1.349 CAMERAS ON THE MARKET HOW DO YOU DECIDE WHICH ONE TO BUY? 30-60 ITA
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The Average Supermarket Consumer Does very little search: Average less than 12 second per item 42% spent 5 seconds or less 32% spent between 6 and 15 seconds Average number of brands handled: 1.21: 85% touched only one brand Source: Pete Dickson and Stan Sawyer Journal of Marketing O Copy rights reserved, Zou Deqiang
23 23 © Copy rights reserved, Zou Deqiang The Average Supermarket Consumer • Does very little search: Average less than 12 second per item • 42% spent 5 seconds or less • 32% spent between 6 and 15 seconds • Average number of brands handled: 1.21; 85% touched only one brand Source: Pete Dickson and Stan Sawyer Journal of Marketing
Importance of Brands to Consumers Identification of the source of the product Assignment of responsibility to product maker Risk reducer Search cost reducer Promise, bond, or pact with product maker Symbolic device ° Signal of quality O Copy rights reserved, Zou Deqiang
24 24 © Copy rights reserved, Zou Deqiang Importance of Brands to Consumers • Identification of the source of the product • Assignment of responsibility to product maker • Risk reducer • Search cost reducer • Promise, bond, or pact with product maker • Symbolic device • Signal of quality
Brand as A Signal Soft facts like security, risk reduction and trust are the most susceptible to brand and brand message. Brands reduce risk; if a buyer chooses a well-known brand he thinks he is on the safe side Best example: " Nobody ever got fired for buying an IBM O Copy rights reserved, Zou Deqiang
25 25 © Copy rights reserved, Zou Deqiang Brand as A Signal • Soft facts like security, risk reduction and trust are the most susceptible to brand and brand message. Brands reduce risk; if a buyer chooses a well-known brand he thinks he is on the safe side. ¾Best example: “Nobody ever got fired for buying an IBM