By Marco Abate
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Brands from the customer’s perspective play an important role in guiding buyers into making right choices and helping them in achieving this with economy of effort. Segregation of available options into various classes is a precondition for making an effective and efficient choice. In this context brands come as combinations of both quantitative and qualitative attributes. Each of these combinations can be distinguished with significant ease because of brands. For instance it is not very hard for a woman who is concerned about the health of the heart of her husband to know that Saffola is one brand of oil that can be considered.
2: Brands with Different Names but Similar Concepts (Parity) Source: Author. The Economic Times reported that promoters of many companies have resorted to name change process in order to escape the downward pressure of the stock market. Ideally the trigger to a price rally at the stock market comes from factors like bumper profits, what is a brand? 33 hefty dividends, liberal bonus or strategic moves like mergers and acquisitions. Some of the companies have resorted to executing a change in their name in order to beat the bear bug.
Therefore the shirt market is made up of one big segment of customers who buy shirts. But actually the motivations to buy a shirt differ radically from one customer set to the other. Consider the case of Madura Coats. It has four shirt brands in its portfolio instead of one, each aimed at a different segment with uniquely defined value propositions: • • • • Louis Philippe Van Heusen Allen Solly Peter England – – – – Luxury Power dressing Friday dressing Value for money what is a brand? 47 It would be nearly impossible to combine all the attributes and benefits desired by different customers under a single brand.