strong brand vs weaker brand how they affect purchase decision?

Question

e.g. haagen dazs vs own lable (tesco)

Answer 1

People tend to overlook the meaning of the term 'brand'. It's not just about the logo and the trade-name.

A brand is how consumer perceive one's company or product. A good way to gauge this is through brand equity, which states the strenght of a brand, relative to its competitors. Its an aggregate of a bunch of criteria, how easy people can recognize, recall, how positively associated they are feeling with the brand, how they perceive it etc...

Apart from trade names and logo, its quality, positioning and cult-followers form the true value of a brand. Price, on the other hand, might be a comparing point for consumer to decide what to purchase. If the price is unreasonable compared to the brand, they might go for other weaker brand but with much better price tags.

So price, along with product features, plays an important role to decide which brand to go for. Weaker brand usually implements penetration strategy (lower price, better offer) to level the playing field with other brand giants. It is how well they can attract consumer from their brand preferences that decides who wins.

Answer 2

A brand is a promise.
It promises a set of values. some very obvious, some very subtle.
Price/value is a part of this promise, but there are many more aspects.
The purchase decision will depend on the importance of a selection of those aspects to the buyer.
For example - if you are eating the ice cream at home and it's the end of the month and money is tight - you take the Tesco promise of good value.
If your girl friend has offered a cosy night in by the fire, turning up with Tesco brand ice cream could be a mistake. So you accept the Haagen Das promise of exotic pleasure (and to hell with the price!)
The alternative promises a brand can make will reduce the impact of price - in some exotic cases buyers actually demand a high price! Sounds unlikely - but how much Chanel No.5 would be sold if it only cost £0.99?
The key strength is to have very clear brand values and to comunicate them powerfully.
And never, ever break the promise.
British Leyland thought by taking a valuable brand (Rover) and putting it on duff cars they would make them valuable.
What they actually did, was make a valuable brand, duff.

Answer 3

I will buy what I like best, no matter if it is a brand name or not. As it is, I love haagen daz and therefore will buy it, but I am quite happy to buy tescos own brand pasta as there often is not a lot of difference between brand names and tescos own make. Sometimes it is just the packaging that makes the item more expensive. My advice: if you can be bothered always read the ingredients and compare the two.

Answer 4

it first depends on who you are targetting as an end user and secondly how you want to position this product to the market place. You have to remeber an brand doesn't just mean a name of a product. A brand creates a 3-D scope / character of what a product is / stands for. See an interesting model titled the brand itentity prism. Some products rely on branding as its key Unique selling point since the function attributes of the product are restrictive, such as a plastic bag. For example, calvin klien aftershave.... The fucntional attributes of the aftershave is no more than smelling good.... yet CK's advertising focuses on their brand which people perceive as fashionable, sexy, attractive and successful. By using the brands characteristics as stimuli, consumers relate to these aspects of the product rather than what it actually does. Therefore, branding is vital in the consumer decision making process.... Marketers need to push consumers down the decison making model and sometimes that is very difficult to do so when a products functional attributes are restrictive.... hense branding and emotional advertising linked with the characteristics of that brand.

Answer 5

You can pay loads of money for Nurofen or you can get the own brand equivalent 'Ibuprofen'... the ingredients are virtually the same. More often than not, the cheaper own brands are made by the bigger brands anyway with subtle changes.

Answer 6

I am glad to say i have long grown out of "having" to buy branded products.
However, give me Ben and Jerry's anyday!

Answer 7

I always read the ingredients and try to chose the one with the least chemicals added. Doesn't matter who made it.

Answer 8

For most people, it's about the price.