Ganibade
Verified member
The secret to effective brand management lies in consumer behavior and brand loyalty. While picking or making purchases, people frequently adhere to specific patterns. A successful brand manager is one who understands the customer's needs, understands their purchasing habits, and can persuade them to try their product.
There will always be clients who are loyal to a particular brand and those who are not in every market. Those that don't support your brand will support other brands. You can more easily target specific brand promotional activities to persuade prospects who are not brand loyal by having an understanding of the segment that is loyal to your brand and that which is not.
Consumer behavior and brand loyalty are the key to successful brand management. People generally follow certain patterns while choosing or making purchases. A brand manager who can convince consumers to test their product by understanding their requirements and buying habits is successful.
In every market, there will always be customers who are devoted to a specific brand and others who are not. Those that don't like your brand will like others. Understanding the segments that are and are not loyal to your brand will help you more effectively target specific brand promotional activities to persuade prospects who are not brand loyal.
While brand penetration is often consistent for most existing brands, this is not the case for new products. Although consumers are loyal to other brands, they are inclined to test the promotional item whenever a new brand is presented or a promotional event is held. Even in cases when consumers are brand loyal, the 80:20 ratio still applies, meaning that 20% of brand loyal customers account for 80% of revenues. The problem is then to make sure that the promotional event aims to persuade a growing number of customers to try the brand, opening the door for further brand awareness.
There will always be clients who are loyal to a particular brand and those who are not in every market. Those that don't support your brand will support other brands. You can more easily target specific brand promotional activities to persuade prospects who are not brand loyal by having an understanding of the segment that is loyal to your brand and that which is not.
Consumer behavior and brand loyalty are the key to successful brand management. People generally follow certain patterns while choosing or making purchases. A brand manager who can convince consumers to test their product by understanding their requirements and buying habits is successful.
In every market, there will always be customers who are devoted to a specific brand and others who are not. Those that don't like your brand will like others. Understanding the segments that are and are not loyal to your brand will help you more effectively target specific brand promotional activities to persuade prospects who are not brand loyal.
While brand penetration is often consistent for most existing brands, this is not the case for new products. Although consumers are loyal to other brands, they are inclined to test the promotional item whenever a new brand is presented or a promotional event is held. Even in cases when consumers are brand loyal, the 80:20 ratio still applies, meaning that 20% of brand loyal customers account for 80% of revenues. The problem is then to make sure that the promotional event aims to persuade a growing number of customers to try the brand, opening the door for further brand awareness.
