Marketing Analysis Price And Brand Image - 1572 Words

In these modern days, consumers are bombarded with brands and advertising from different companies and they have a lot more options when it comes to purchasing a product. They usually rely on both intrinsic and extrinsic cues to solve their problem regarding to the quality of products. Consumers have to make their purchasing decision under various uncertainties and circumstances regarding to the product itself and its attributes as Cox (1962, p. 413) stated that ‘consumer s task in evaluating a product is to use cues from the array as the basis for making judgments about the product’. Marketers always try their best to fulfill the needs and wants of customers with positive, motivating values and association and the most obvious way is†¦show more content†¦The definition of objective quality has been developed into different concepts such as product-based quality and manufacturing-based quality (Garvin, 1983). However, these concepts are all based on perception too so there is no standard which can be called the objective quality standard, it is just whether these specifications meet the managers’ requirements or not and that is when the gap between consumers’ perception and marketers’ appears. For example, when being asked about the quality perception of consumers, managers would answer performance, craftsmanship and other components that related to technical requirements, yet consumers listed different type of components that related to appearance or durability. On the contrary, perceived quality affects consumers’ satisfaction which leads to consumers’ behavioral intention as Bitner (1990) suggested that perceived quality can be similar to consumer’s attitude or ‘a form of overall evaluation of a product’ (Olshavsky, 1985) and behavioral intention is a logical consequence of attitudes. When it comes to judging a product, consumers usually go through the analyzing stages about the information and benefit of the product. Therefore the ‘Grey benefit chain’ developed by Feigin and Young (1975) and the mean-ends chain concept are used to examine the cognitive structure of consumers, which consists of four levels: Product, functionalShow MoreRelatedPerceptual Maps in Marketing1180 Words   |  5 PagesPerceptual Maps in Marketing Simulation Summary Thorr Motorcycles, Incorporated manufactures various models of motorcycles, and is a $5 billion company. The CruiserThorr power cruiser model provides the company a high brand image in the market, but sales are decreasing. The company contributes the decline to the aging target customers who purchase the cruiser as a lifestyle symbol, and the high cost of the motorcycle. Thorr must reverse the falling sales by developing a marketing plan with the useRead MoreEssay on Kingsford Charcoal Marketing Report1211 Words   |  5 PagesKingsford charcoal marketing report Kingsford charcoal brand is well known in barbecuing community across United States. Over time, it consists in the message communication and marketing strategies to building and maintaining this strong brand image. But in 2000, Kingsford faced a decline in sales and the category appeared softer than it had in previous years. This report discusses and analyses the issues that Kingsford had, as well as comes out some recommendations to overcoming the softening ofRead MoreSwot Analysis of Snapple1707 Words   |  7 Pagessuccessful brands of a variety of non-carbonated beverages that targeted mainly towards the young, health conscious consumers. Snapple provided many varieties of flavour to its consumers and placed them in different market segments which were mainly cold channel distributions. With a premium pricing strategy, it had price as an indicator of quality and was consistent with its positioning strategy. The success of its marketing strategies were able to enhance consumers brand awareness, brand recognitionRead MoreSamsung Seca: Redefining a Brand1413 Words   |  6 PagesREDEFINING A BRAND CASE STUDY 1. Problem Identification Samsung SECA has successfully repositioned itself from an unremarkable producer of low-to-mid-market customer electronics and computer components into a provider of stylish, leading-edge consumer electronics due to its shift towards digital technology. Despite efforts to redefine the Samsung brand which included aggressive promotional spending and launching of a number of high-end, â€Å"marquee† products, the old brand perception of the Samsung brand isRead MoreSamsung Electronics Company : Global Marketing Operations1163 Words   |  5 PagesElectronics Company: Global Marketing Operations Naveed Ahmed Saleem Janvekar Net ID: nsj130030 1. Key Marketing Issues: According to me, the key marketing issue faced by Samsung Electronics Company is establishing its brand in the electronics industry globally, by creating a corporate marketing strategy. SEC lacked in establishing its brand image in weaker markets, which resulted in poor brand image. Another internal challenge was with SECs managers’ concept of marketing. The managers were of theRead MoreMKT 500: Branding, Pricing, and Distribution1264 Words   |  6 PagesUniversity MKT 500/ Marketing Management 08/06/2013 Abstract This assignment focuses on branding, pricing, and distribution of Clear-Springs, Inc.’s product and service. In this assignment, a domestic and global product branding strategy was created and the optimum pricing strategy was determined and discussed in detail. An examination on how the company’s pricing strategy supports its branding strategy was compelled and discussed in detail. A distribution channel analysis identifying theRead MoreCase Study: Fisher-Price Toys, Inc.1050 Words   |  5 PagesCase: Fisher-Price Toys, Inc. 1. Basic information 1) 2) Company: Fisher-Price Toys, Inc. (Industry: Child toys) Business dilemma: a rash marketing decision has to be made on carrying out whether a new quality product (product name: ATV Explorer) at exceptional high price or a new less-quality product at moderate price 2. Business dilemma 1) Key problem: (1) price-point: Cost for a projected toy cant be made within budget, resulting in a much higher price ($18.5) than planned. High price disobeys theRead MoreMarketing and Segment Essay1657 Words   |  7 Pages Test Bank Strategic Marketing Quarter 2 Decisions 9. Which of the following can you not determine from market research? a) The structure of the market b) The market requirements c) The market requirements of your competitors d) The strengths and weaknesses of your competition 10. Conducting a Market Opportunity Analysis (MOA) is the first step in developing a marketing strategy. e) True f) False 11. What is a differentiated marketing strategy? a. Selection of productionRead MoreThe Case Analysis : Renova945 Words   |  4 PagesCase Analysis Renova has achieved a leadership position quickly after switching from office paper to disposable paper products in 1961. In 2005, Renova has an incremental sales of euro 104 million with approximately 600 employers in both domestic industry and international industry. As a global market, the main competitors in the tissue company is dominated by giant companies such as Procter and Gamble and Kimberly-Clark, along with other group of firms like retailers and giant paper companies withRead MoreThe Marketing Approach Of Skoda Auto From Past1468 Words   |  6 PagesAnalyse the marketing approach of Skoda Auto from past to future Group: DW Student name: Yuanzhi Cai (Celia) Student No.: 0010896606 Date: 20/4/2017 Contents a.) The executive summary b.) Introduction c.) Main body 1.) Branding and Brand Image 2.) Marketing Mix 3.) Target Market d.) Conclusion e.) References a.) Executive summary As we know that Skoda has a long history and it entered manufacturing market in