New Age Marketing Chapter 4

Question 1

What is a brand and how does it help businesses stand out in the competitive world?

Answer 1

A brand is something that signals to the customer what they are going to get out of the experience you deliver to them with your product or service. It is basically the sum of a customer experiences.

Question 2

Illustrate the importance of building trust

Answer 2

Trust is important when it comes to proving to customers that your product/service will deliver the satisfaction that it promises to deliver. Millenial and generation x customers also tend to purchase products from brands they share value with and trust.

Question 3

Discuss why purpose driven brands are more valuable than their competitiors

Answer 3

Customers are more likely to choose brands who care more about things than just generating profit, and whose desireful impact they want on the world aligns with their desireful impacts or ideologies.