25
competition. A well-positioned brand will have a competitively attractive position
supported by
strong associations.
A
“brand position” does reflect how people
perceive a brand.
Eleven
types
of
associations
are
product attributes, intangibles, customer
benefits, relative price,
use or application, user or customers, celebrity or person,
life
style or personality, product class, competitors, and country or geographic area.
The
underlying
value
of
a
brand
name
often is its set of associations, it’s
meaning to people. Associations represent bases for purchase decisions and for brand
loyalty. There are a host of possible associations, and a variety of ways they can
provide
value.
Among
the ways
in which associations create
value to the
firm and
its
customers are:
Helping to process or retrieve information
Associations can serve
to summarize a set of
facts and specifications that
otherwise
would
be
difficult
for
the
customer
to
process
and
access,
and
expensive
for
the
firm to
communicate. Associations
can
also
influence
the
interpretation
of
facts.
Associations
also can
influence
the
recall
of
information,
especially during decision-making.
Differentiating the brand
A
differentiating
association
can
be
a
key
competitive
advantage.
If
a
brand
is
well
positioned
(with
respect
to
competitors) upon a key attribute in the product
class,
or
upon
an
application,
competitors will find it hard to attack. Thus, an
association can be a formidable barrier to competitors.
 |