(1) A brand creates value for business over and what its products and services are worth. It communicates what the business is about and may encompass much more than its products, often including the business’ value. Creating a brand identity is important for both large and small businesses in that it creates a unique identity that communicates to the marketplace. A brand is the image the customer has of the product or company. It conveys the nature of the user, a personality, core values, a culture, product benefits and product attributes. Attributes include price, safety, quality, and performance. Benefits are what the customer gets from the product which may include functional benefits along with image benefits. A strong brand will have a strong emotional appeal and captures the top of the pyramid. (2) Customers have varying levels of perception of brand. Brand awareness is when customers know what the brand is. When this awareness is present, the company has captured customer mind share. Brand preference is when the customer will choose the brand if it is available but may choose another brand if it is not. Brand loyalty is when the customer will only choose that brand. Brand loyalty connotes capture of heart share. This all culminates in increasing market share. Brand loyalty translates into brand equity or a value assigned to the brand. Businessweek estimates that the Top 2009 brand, Coca Cola, is worth $68 Billion. Which of the following statements about “performance” does Paragraph ((1)
Which of the following statements about “performance” does Paragraph ((1) support?