Read the following summary and answer the true and false questions at the end of the article. The summary is based on a marketing research study from Doctor Kim "Impact of
Brand Factors on the Purchase of Various Brands of Television"
which was published in the Journal of Arts, Science & Commerce.
Brands
have never been more important. They help consumers in the decision
making process. The article emphasizes the importance of a brand when
purchasing a television. Through various academic studies and
statistical analyses, the correlation between purchasing and brand
recall was loyalty, perceived quality, and brand association and
statistically proven to influence consumer behavior.
The
study was limited by the recall bias and sampling errors. However,
the objective of the study, which was to assess the influence of
different brand factors, was successful because detailed data
gathered from six different households all confirm the need for a
good brand. Most of the products that are sold today have a
distinguishable brand image. The article studied the influence of
various aspects of product branding such as brand heuristics, brand
knowledge, brand trust, brand loyalty, perceived quality, brand
association and overall brand equity when purchasing a new
television.
The characteristics of knowledge, loyalty, and trust
create a preference in the minds of the customers.
When
purchasing a product like a television that will last more than a
year, consumers are more likely to conduct research based on the
resources available to them such as the Internet. Having a good brand
image takes time and cannot be accomplished by one-time
advertisements. Brand trust and loyalty are also necessary factors
because in the present day there are multiple brands competing for a
customer purchase.
The
studies proved through empirical research that brands are important
when choosing what television to buy. Assumptions based on brand are
not always true but trusting a brand and being loyal to a brand are
what marketers strive to accomplish because it increases sales. The
perceived quality of the brand in relationship to the price was one
the most important factors for nuclear families. A brand helps buyers
to recall the product and buyers will perceive the quality of the
product based on the brand and will prefer brands they trust and will
make purchasing decisions accordingly.
Questions:
True
or False:
1.
The name which helps the buyers in recalling the product instantly is
known as brand name.
True
2.
When several brands of a particular product, which are similar in
quality of performance and appearance, are available to the consumers
brand knowledge, loyalty, and trust can create a preference in the
minds of consumers.
True
