Because brands are so overwhelmingly important to the success of a business, enormous amounts of research are devoted to understanding how brands function within the mind of the consumer and, ultimately, influence purchasing decisions.
For many businesses, brands are among their most valuable assets. Brands provide consumers with reasons to choose theirs and to pay more for some brands than others. Further, they offer consumers “shortcuts” in their decision making on the basis of brand perceptions. Because brands are so overwhelmingly important to the success of a business, enormous amounts of research are devoted to understanding how they function within the mind of the consumer and, ultimately, influence purchasing decisions.
While it is well understood that brands are essential to successful marketing and business performance, marketing research aimed at understanding the consumer mindset in connection with brands has struggled to provide solid answers. This leaves many brand managers at a loss when it comes to understanding how to focus their marketing communications for the best chance of success. I suggest that one reason brand research is often so difficult is because consumers view brands in relation to their personal beliefs and experiences in a manner that is highly complex, multifaceted and fluid.
DOWNLOAD MRA ALERT’S ARTICLE HERE
