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Brand image is how a market perceives a company or product. Companies aim to create a strong brand that people identify with a particular product. Choosing a brand image is crucial for targeting the right market, and too many different images can create confusion.
Brand image refers to how a market as a whole views a particular company or product. Many companies attempt to create a strong brand that people identify with a particular product. Some of the best examples of this include Xerox, whose name has become synonymous with making a copy, and Kleenex, whose name has become “fabric” in general.
In addition to wanting to build brand recognition in general, most businesses also want their product or company to have a specific image or be regarded in a certain way. This brand image can shape how they release a product, the type of product they release, the type of advertising they do, and the type of customers they target.
For example, a company may decide it wants to have a brand image as a luxury brand. In such cases, it is targeting a high-end market. Its products would be priced at an expensive price, would advertise only in high-end magazines, and would only be sold in high-end boutiques or stores, not discount warehouses or retail outlets. Rolex watches, for example, have done a good job of creating an image as a high-end, expensive brand, and as such people will pay a premium to buy these watches because of what they stand for.
Another company may take a different tactic and decide it wants to highlight value as its brand image. Wal-Mart, for example, promises customers can “save money and live better.” It’s not trying to create a luxury image, but rather trying to position itself as an option for the budget-conscious family.
Choosing a brand image is very important for a business so that the business entity can target its market properly. Choosing too many different images or trying to represent too many different things can create a problem for a business. For example, if the company tries to target both a luxury item and a discount brand, it won’t have a well-defined marketing strategy. Since there would be no target market for such a product as the luxury market wouldn’t want a discounted item and the discount market wouldn’t want to pay luxury prices, the product could find itself failing due to the confusing image it was presenting to customers.
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