The consumer and brands

The relationship between the consumer and the brand is one of implicit mutual benefit. The consumer is given choice, confidence, quality, value and convenience and as a result the brand is able to grow.

Reassurance and confidence

Although consumers may be happy to shop around, they are often unwilling to take a chance on an unknown product. Brands have to earn and maintain a reputation for consistent quality and reliability that takes the uncertainty out of the buying process and inspires trust in the buyer.

Choice and relevance

Brands must remain at the forefront of innovation and be the first to provide consumers with a constant flow of new and improved products. The result is a diversity of brands designed for different occasions and needs, which provides the consumer with a choice of relevant products and services.

Quality and value

Once upon a time, quality was the single differentiating feature of brands and it still remains absolutely central to the buying process. But innovative, quality products still need to be carefully priced in order to provide the buyer with competitive value.

Convenience

Our busy lives mean that many of us make our buying decisions very quickly. Brands provide “shorthand” information about products in a crowded marketplace. What’s more, consumers demand convenience, so brands need to be found in convenient locations and in different types of retail outlets.

Brands live or die by how they meet (or fail to meet) consumers’ needs. Loyalty and support is hard won and easily lost and without retaining the consumer’s support, a brand will quickly wilt and die.

(For more, see the inaugural and second Brands Lectures).