Managing Your Brand: What It Depends On?

Managing a brand usually depends upon the below mentioned factors:

• Experience Goods: These are products for which the customer has a difficult time assessing the quality of the product until he or she has consumed it. A primary driver of consumer choice is reputation, based on your past experience with the company or recommendations from other customers or from third-party raters.

• Search Goods: These are products for which consumers can assess product quality, but only by engaging in costly search.

• Goods That Are Occasional Purchases: For some goods, businesses need to motivate consumers to shop, and thus brand can be a persuasive message intended to generate interest.

• Goods That Are Publicly Consumed: For some products, brand is an image that describes what kind of person uses the product; this is particularly likely to be true when the good is consumed in public.

• Credence Goods: These are products for which the consumer has a hard time assessing quality even after he or she has consumed the good.

Learn more about how to manage a brand and the important factors on which brand management depend on only at the University Canada West, one of the best universities in Canada, offering various business and management related programs.