ABSTRACT

The competitive dynamics of a competitor grouping and the positioning of each brand in that grouping significantly influences a firm's decision on how to brand a service and find a route to segment or market leadership. Conventionally, brands and branding are considered from the perspective of their influence on consumers when purchasing products and services and the associated commercial benefits strong brands provide to a firm. When considering making a purchase, consumers use brands as a means of selecting what products they will consider for purchase and which they will not. The more familiar and trusted a brand, the more likely it is a consumer will select this brand over others. Brands, therefore, in the minds of consumers represent a promise to deliver a set of consumer benefits. The brand represents a bond or a pact with the consumer. The chapter also presents an overview of key concepts discussesd in this book.