Brand name recognition makes all the difference among the existing companies in any marketplace. Brand value is the primary factor in bringing additional value to a service or a product and also to its provider or manufacturer (Yang, 2005). Apple is a new entrant in the Interbrand’s top 10 global brands list in 2011, and is a growing brand name to consumers all around the world. This brand is developing and strengthening their brand value at an extremely high speed, which is 58% more in 2011 than the previous year. With their famous slogan of ‘Think different’, it is assumed that Apple has enabled the individuals to be open and creative while using user friendly gadgets ...view middle of the document...
A number of authors like Kotler (1967), Howard (1957), McCarthy (1960) have defined marketing management as a process to make decisions and solve problems in order to gain control over the competitive market place. After the 1980s, a new logic started to emerge describing marketing as a whole set of tasks consisting quality management, value chain management, supply chain management, management of available resources and analysis of network (Lusch and Vargo, 2004). In this new paradigm, the customer is considered as a co-producer and resources are considered as primary (Lusch and Vargo, 2004).
Figure 1: From goods oriented marketing towards Service Oriented marketing
Source: Adopted from (Lusch and Vargo, 2004).
2.1.1 Customers emerging as the centre point of Marketing
Sheth, Siodia and Sharma (2000) have pointed out this service centred view of marketing as a customer centric and market driven process. This customer centricity not only meant being customer oriented, it rather reflected marketing to be a process of collaboration which incorporates learning from the consumers and reacting or pro-acting based on consumers’ needs that are primarily dynamic in nature (Lusch and Vargo, 2004). Haeckel (1999) made an observation that the companies that had been successful had moved their focus towards a ‘’sense and response strategy’’ (Day, 1999, p. 70) from the traditional ‘’make and sell strategy’’.
2.1.2 Branding – a method for Bridging the corporation and the consumers:
Since, the evolution of marketing had made a new paradigm that is consumer oriented, it is necessary for the corporation to make a bridge with the consumers and create a differentiated image among the consumers about their products. Here, the author critically explores how branding can act as the bridge between the corporation and the consumers.
Kotler (1994, p. 444) defined brand as
“A brand is a name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of the competitors.’’.
According to Davis (2000), brand is an intangible asset, yet extremely crucial to establish a company’s unique identity. He also states that brand is fundamentally defined by consumers’ hopes and expectations and it lives on by being consistent over time; all the strong brands have a strong impact on the consumer’s mind and can create a similar image to all the consumers whenever the brand name is mentioned to them.
Strong brands have products that can deliver better functionalities and benefits while excelling in quality. However, the strength of a brand is not achieved only by possessing better functionalities than others, rather it mostly lies in the underlying psychology and response of the consumers (Yang, 2005). Customers’ perceptions about brands are usually superficial and are related to only a few selected attributes of the associated products or services...