Will you pay more just for the brand

Assignment Help Marketing Management

Reference no: EM133452984

Assignment:

Will You Pay More Just for the Brand?

This exercise is quite easy.

Let's assume that you are looking to buy a new Smart TV for your home. In the retailer, you are presented with two distinct choices, namely:

1. A well-known brand, that you know and trust, and their smart TV is priced at $3,000

2. A brand that is unknown to you, that you have never heard of, and their smart TV is priced at $1,500. You read through the product specifications and the technical features of both smart TVs seem to be similar, if not identical. In the store you spend time watching both TVs and the picture quality appears to be the same to you.

In addition, the screen size and the overall look of each smart TV is similar as well. You turned the volume up on both televisions and you cannot tell any real difference in sound quality.

Now it is decision time... Which smart TV will you choose? The trusted brand for $3000, or the unknown brand for half price? It's a tough choice, hopefully, you will make the right decision.

1. Which brand would you choose and why?

2. If you bought the well-known brand, you have effectively paid $1,500 for the brand. Outline the benefits that you think you would receive from buying the well-branded smart TV.

3. If you bought the unknown brand, what concerns do you have with your purchase, if any?

4. What brand do you think most consumers would choose in real life?

5. Therefore, considering your answers to the questions above, how important is it that a company builds a strong brand?

Reference no: EM133452984

Questions Cloud

What factors researchers will be looking for demographics : What are three examples of what factors researchers will be looking for - demographics, psychographics.

Why is marketing research development of marketing strategy : Why is marketing research important to the development of a marketing strategy? What techniques and resources are available to market researchers?

Example of how international companies unilever : Provide an example of how international companies Unilever and/or Mondelez International change their distribution channels.

How has experience changed if you are buying something today : Try to remember the first time you bought something online; what was that experience like? How has the experience changed if you are buying something today?

Will you pay more just for the brand : Which smart TV will you choose? The trusted brand for $3000, or the unknown brand for half price? It's a tough choice, hopefully, you will make right decision.

Is targeting-segmenting potentially unethical : Is targeting and segmenting potentially unethical in and of itself or do we need harmful products to push it over the line?

Explain how social media news has evolved : Please explain how social media news has evolved and its incorporation into other social media news.

Why is pricing an important part of marketing : Why is pricing an important part of marketing?

Why does the smme needs a marketing plan : Why does the SMME needs a marketing plan? How would a marketing plan assist G & E Automotive and diagnostics solution?

User Account

All Pages