The marketing of brand values has become extremely difficult in the current world climate. Brands known for high quality are being priced out of the market by cheaper, less well known alternatives. Some manufacturers have been squeezed into making their products more affordable to appeal to the volume retailers. This has often had consequences to brand value because to make the product more affordable, but equally profitable, the only alternative is to reduce quality in both materials and workmanship. The reduction in quality rarely goes un-noticed and this in turn damages brand value. As the consumer becomes far more savvy in the quest for ‘best bang for buck’ and a greater awareness of the types of marketing tactics being used, it is extremely difficult for marketeers to communicate with the consumer. In a recent survey on consumer electronics, it was revealed that the majority of people would opt for an upper mid-range product rather than the cheapest or most expensive alternative. Many also admitted that they would invest considerable time digesting existing customer reviews on the internet before making a purchase where the value of the item exceeded their normal spend pattern. The summary of the survey was that people are willing to invest in a quality item regardless of branding providing the item fits the criteria for which it is intended. Marketeers have always strived to tempt consumers up the price ladder by offering small differences in price between models in a range of products, but it seems we are becoming wise to this tactic.




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