Brands Can Last Forever Essay

1092 Words5 Pages
“Products are created in the factory, but brands are created in the mind.” said by one well-respected marketer (Armstrong and Kotler, 2015). Brands are more than just name and symbols, it represents consumers’ perceptions and feelings about a product and its performance and everything that a product or service means to consumers. Brands should never become obsolete if they have a clear vision, good strategy and right execution with continual innovation (Chan, 2007). I disagree that brands cannot expect to last forever because there are a few reasons why brands can survive in a competitive market and last forever. A strong brand can be last forever because it has high brand equity, strong consumer relationships and effective marketing strategy to last forever. A strong brand has high brand equity to last forever. Brand equity is the differential effect that knowing the brand name has on customer response to the product and its marketing. Consumers react more favorably to the brand than a generic of same product in the market if the brand has positive brand equity. A high equity brand is a well-known and trusted brand which can easily recognizable in advertising. Positive brand equity can boost a companies’ growth because company can add new products in their business line easily by using the value of brand (Fatteross, 2015). Take brand McDonald’s as an instance, McDonald’s since year 1955 change in the amount of value and power it hold in the market and maintain its power in the market for many years, or even generations. Thus, McDonald’s can easily produce new products and people willing to try the new products due to the value of the brand (Pullig, 2008). On my opinion, McDonald’s is a high equity brand because it has high awareness image worldwide and people can recognize the brand that make consumers are more likely to continuously purchase with
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