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Role Of Management Essay

1422 words - 6 pages

The Role of Brands
Brands identify the source or maker of a product and allow consumers—either individuals or organizations—to assign responsibility for its performance to a particular manufacturer or distributor. Consumers may evaluate the identical product differently depending on how it is branded. They learn about brands through past experiences with the product and its marketing program, finding out which brands satisfy their needs and which do not. As consumers’ lives become more complicated, rushed, and time starved, the ability of a brand to simplify decision making and reduce risk is invaluable.4
Brands also perform valuable functions for firms.5 First, they simplify product ...view middle of the document...

9
Sometimes marketers don’t see the real importance of brand loyalty until they change a crucial element of the brand, as Federated Department Stores realized when it bought the fabled Chicago retailer Marshall Field’s.
(Keller 237)
Keller, Philip Kotler and Kevin. Marketing Management, 13th Edition. Pearson Learning Solutions. <vbk:9781256083979#outline(16.1.1)>.

The Buying Decision Process: The Five-Stage Model
These basic psychological processes play an important role in understanding how consumers actually make their buying decisions.55 Table 6.3 provides a list of some key consumer behavior questions in terms of “who, what, when, where, how, and why.”
Smart companies try to fully understand the customers’ buying-decision process—all their experiences in learning, choosing, using, and even disposing of a product.56 Bissel developed its Steam n’ Clean vacuum cleaner based on the product trial experiences of a local PTA group near corporate headquarters in Grand Rapids, Michigan. The result was a name change, color-coded attachments, and an infomercial highlighting its special features.57
Marketing scholars have developed a “stage model” of the buying-decision process (see Figure 6.4). The consumer passes through five stages: problem recognition, information search, evaluation of alternatives, purchase decision, and postpurchase behavior. Clearly, the buying process starts long before the actual purchase and has consequences long afterward.58
(Keller 167)
Keller, Philip Kotler and Kevin. Marketing Management, 13th Edition. Pearson Learning Solutions. <vbk:9781256083979#outline(13.3)>.

Buying Situations
The business buyer faces many decisions in making a purchase. The number depends on the buying situation: complexity of the problem being solved, newness of the buying requirement, number of people involved, and time required. Three types of buying situations are the straight rebuy, modified rebuy, and new task.9
(Keller 185)
Keller, Philip Kotler and Kevin. Marketing Management, 13th Edition. Pearson Learning Solutions. <vbk:9781256083979#outline(14.1.2)>.

Buying Situations
The business buyer faces many decisions in making a purchase. The number depends on the buying situation: complexity of the problem being solved, newness of the buying requirement, number of people involved, and time required. Three types of buying situations are the straight rebuy, modified rebuy, and new task.9
Some buying situations are characterized by low involvement but significant brand differences. Here consumers often do a lot of brand switching. Think about cookies. The consumer has some beliefs about cookies, chooses a brand without much evaluation, and evaluates the product during consumption. Next time, the consumer may reach for another brand out of a wish for a different taste. Brand switching occurs for the sake of variety, rather than dissatisfaction.

A brand line consists of all products—original as well as line...

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