The perception of brands and brand value within the developing cultures
Barclay, Helen Jane
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The fundamental focus of this study is to discover the perception consumers of developing cultures have of brands and brand value. Markets are highly fragmented and is characterised by factors such as a diversity of cultures, traditions and beliefs on the one hand and historical imbalances in consumer purchasing power, illiteracy, and a wide variety of socio-economic challenges. Consumers are also increasingly experiencing what they perceive as an enhanced image from the consumption and possession of branded products. Brand Value, Brand Equity and Brand Loyalty have been an aggressively developed fundamental within the global marketplace. The value is a perception, the equity can be calculated (albeit subjectively) and loyalty can be measured. The validity of measuring instrument scores refers to the extent to which the instrument measures what it is intended to measure. The questionnaire consists of a 5-point Likert-scale, ranging from "strongly disagree" (SD) to "strongly agree" (SA) to the interviewee's perception of branded consumer goods. Opinions of their choice to participate in branded goods or not are discussed where they indicate what qualities a brand delivers or fails to deliver. From the empirical research, two important conclusions are made: • Conclusion 1: The brand we present is all about us • Conclusion 2: Iconic brands are brands that have become cultural icons These conclusions result in the recommendations regarding consumerism and branding, namely that marketers should: • take care in all that they do in launching products that have a global appeal; • Be primarily focused on the economic targets set before them but as this study reveals, great products have been distributed globally with different responses to the values expressed in them, but the same response to the economic contributions to the brand owners. • Perform a careful study of the intricacies of cultures and global markets the brand owner wants to penetrate in order to meet the people at their own point of reference. • Allow for cultural interpretations that will build a sustainable brand within the specific market.