The world nowadays have moved from an industrially driven economy in which firms rely on existing equipment towards a consumer based economy where more and more firms are focusing on its connection to consumers. In this hypercompetitive marketplace where goods or services alone are no longer enough to attract a new market or even to maintain existing markets or client. Only this goods or service that has emotional aspect can influence consumers’ ultimate choice and the price they will pay.
Just like Klein(2002)said the product that will flourish in the future will be the ones presented not as ‘commodities’ but as concepts;the brand as experience,as lifestyle. One of the most important techniques to create emotional aspect is to create brand value through media. As the development of the new media the influence of brand in consumer culture has increased worldwide,not only in terms of their behaviour but changes of their psychology.
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This essay focus on the effect of the brand on consumer culture. 1 trust and loyalty
Brand can be created through media to achieve consumer’s trust in the absence of the formal relationship between consumers and producers. The reason why the brand can generally created though media is that people can recall some of the product information from it which will in return generate positive effect on purchasing goods. In general,brand awareness let products seems much more valuable and more likely to create loyalty between customers. For instance,a survey investigated by economists in America showing that nostalgia, plays an important role in consumers’ relationships with a particular brand.
Some 36% of respondents indicated that they currently use a particular product because their family had used it for a long time(Lake,L,2009,website)Through the keen brand competition,consumers have more opportunities to know details about products through various ways such as internet,TV,newspapers and radio as their companies try to marketed their products and make a good impression in people’s mind and they can always find what is the most suitable goods for them as the development of technology in media. 2 quality of goods
Brand can assert qualitative distinctions in the form of brand image and values. ‘Brand value is the present value of predictable future earnings generated by the brand. ’(Arvidsson 2005) The quality for products can be increased as companies realize that quality is brand’s life. Qualify for the right price is a given today as it is a necessary offering if companies want to stay in business. More seriously,if companies use brand to create an association in consumers’ mind that premium prices mean higher quality and exclusiveness,then they can engage prestige pricing strategy.
For example,designer jeans and sports apparel sold in stores are often four times the price of mass market jeans and shirt(because of their well-known brand),but the quality is rarely four times as high. As a result,brand can generate negative effect in terms of price to a great extent. This is related to the use value and exchange value. Use-value is the needs the goods satisfy for the consumer while Exchange-value is what you can sell it for on the market. Exchange value gained as commodities draw cultural associations and meanings that consumers desire.
Nowadays Exchange-value is dominant in influence consumers’ choice so that more and more use advertising to manipulate human needs and emotions to generate their own exchange-value. Nowadays firms not only try to create emotional branding for their products but also try to build preference for their goods that can make their goods staying in preferential status. 3 meaning and personality Producers make effort to make their brand a lived reality by branding culture for they think consumers are believed to be more concerned with finding meaning in their lives.
For instance,British marketing expert John Grant suggests that the aim of ‘the new marketing’ is to seek to fill the ‘great gaps of meaning that exist in people’s lives’ and to propose brands as ‘ideas that people can live by’. So the brand in return embodies the control of price and increased demand for goods. In other words,brand had the potential that can create ‘product differentiation’ compared to their rival’s in customer’s mind even they have the same function. This enable customer to buy one product rather than the other. For consumer,brands and brands values are a way to ‘feel’ the product as a part of their own personalities’.
Consumer decide to purchase one product rather than another partly because it can represent them as a certain model. Just imagine you prefer using all Apple products,others would think that you are the one who are more likely to follow the fashion as well as interested in new technology. In this respective, the young are more likely to spend money on a product which is not necessary to them, especially there are huge number of advertisement on that product which cater to the ‘needs’ of them. These needs can be vanity or material desire.
Klein said “brand X is not a product but a way of life,an attitude,a set of values,a look,an idea. ”(2000) 3 quality of life Most importantly,the biggest misconception in branding strategies is the belief that branding is about market share when it is really always about “mind and emotions share. ”Today,people seek and redefine for themselves the quality level of their life. The increasingly important “quality of life”concept of hassle-free shopping,time management,stress reduction,connectivity,and heightened pleasure will profoundly affect consumer’s overall receptivity to new product.
In conclusion,the emergence of brand is the most convenient way for consumers to distinguish the commodities sold by one companies from others. Followed by the rapid development of media, the role of brand are deeply filtering into people’s minds which will bring significant impact on their behavior and phycology. Brand can be seen as a double-edged sword for consumers which has both good and bad implication. It is good in terms of higher quality and more choice for consumers to choose. It is bad as regard of the higher price and the control of consumers’ awareness.