BRAND IDENTITY AND MARKETING PERFORMANCE OF BEVERAGES FIRMS IN NIGERIA
- Project Research
- 1-5 Chapters
- Quantitative
- Correlation
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
EXCERPT FROM THE STUDY
Brands today play a number of important roles that improve consumers’ lives and enhance the financial value of firms. Brands identify the source or maker of a product and allow consumers either individuals or organizations to assign responsibility to a particular manufacturer or distributor. Consumers may evaluate the identical product differently depending on how it is branded. Consumers learn about brands through past experiences with the product and its marketing programme. They find out which brands satisfy their needs and which ones do not. As consumers’ lives become more complicated, rushed, and time-starved, the ability of the brand to simplify decision making and reduce risk is invaluable.
Brand positioning plays a key role in the building and managing of a strong brand by specifying how the brand is related to consumer’s goals (Tybout and Calkins, 2005). Brand position is part of the brand identity and value proposition that is to be actively communicated to the target audience and that demonstrates an advantage over competing brands (Aaker, 1996). The essence of positioning is that the brand has some sustainable competitive advantage or unique selling proposition. Such a selling proposition gives consumer a compelling reason why they should buy a particular product. Thus one critical success factor for the brand is that it has some strongly held, favourably evaluated associations that function as a point of differentiation and are unique to the brand and imply superiority over other competing brands (Keller, 1998).
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