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.
Protect your devices with Threat Protection by NordVPN
