Why do brands matter

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Why do brands matter? Presented by: Nahid Al Sharhad (2010-1-10-220) Faria Reza (2010-1-10-207) Chowdhury Fahmida Jannat (2010-2-10- 147) Sanjida Noor (2010-2-10-114) Akram Hossain (2008-2-10-257)

Transcript of Why do brands matter

Page 1: Why do brands matter

Why do brands matter?

Presented by:Nahid Al Sharhad (2010-1-10-220)Faria Reza (2010-1-10-207)Chowdhury Fahmida Jannat (2010-2-10-147)Sanjida Noor (2010-2-10-114)Akram Hossain (2008-2-10-257)

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WHY DO BRANDS MATTER TO CONSUMERS

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Help buyers identify the product they like or dislike

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Helps buyers evaluate quality of products especially if unable to judge a products

characteristics

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Brand helps to reduce the time needed for purchase

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Brand helps to reduce buyer’s perceived risk of purchase

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Buyers may derive a psychological reward from owning the brand

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WHY DO BRANDS MATTER TO MANUFACTURERS

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Brand identifies the companies products making repeat purchase easier for customers

Around the world, the average person consumes a Coke product every four days

Coke sells 1.7 billion servings per day in over 200 countries.

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Brand helps form introduce a new product that carries the name of one or more of its existing

products

APPLE released iPhone in 2007, which was a huge success for the company.

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Legal Protection

Apple sued Samsung for copying its design– Apple Won $1.5 Billion in compensation.

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Firms may be able to charge a premium for the brand

Starbucks coffee can charge a higher price than a same quality non-branded coffee because of their brand

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Differentiate product offering from competitors

Pringles differ themselves from their competitors in terms of taste, looks and packaging

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Easier cooperation with well known brands

Tata Motors acquired the Jaguar and Land Rover businesses from Ford in 2008 and made huge profit. Sales of TATA automobile went up to 4% in the last fiscal year.