Brand Management Theories Essay

2286 Words 10 Pages
The practice of brand management is a key component of marketing and performs an integral function by motivating the wants and needs of consumers. It is known that marketing can shape consumer needs and wants, however, consumers today appear to be more knowledgeable about the information regarding products. Consumers lead busy lives and have therefore gone to the internet as one of the many channels to learn about products in order to make informed decisions. This paper will discuss the argument that marketing should reflect the needs and wants of consumers rather than shaping these attributes. Due to the speed and ease of obtaining information, consumers do not take at face value strong marketing efforts that appear to be overly …show more content…
Kotler and Keller (2009) further suggest that consumer needs “preexist” marketing and therefore does not create needs. It is suggested that factors in society and marketing do however influence wants. For example, marketing might promote the concept that a Montblanc pen would possibly satisfy a consumer’s need for social status; however, marketing does not create the need for social status (Kotler & Keller, 2009). Middleton (2005) suggests the concept that a brand is a “promise” of performance from the company to the consumer. This means that the brand must provide value to the consumer relating to numerous possible factors such as reliability, cost, quality, etc. Middleton (2005) goes on to suggest that problems occur when brands do not stay current and this issue may cause consternation for consumers. The value proposition of a brand can be lost when marketing takes for granted the needs and wants of the consumer. Brand management is an on-going process of continually evaluating and then delivering this brand “promise” of value made to consumers (Middleton, 2005). Consumers today lead busy lives and the internet has become an accepted method for obtaining information about product brands. Brand managers must be cognizant of the changing dynamics of the channels consumers are using to find information independently. The internet has become a fast, easy, and

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