Marketing Theories Naive As Result of Bad Data – Marketing Essay
Most marketing and advertising theories are quite naive but marketers are not surprised because of the incomplete data we have on people and environment. The rules of advertising and marketing often overlook time
dimension and consider position and image of the brand as fixed and unchangeable.
But reality is different – only name and logo of the brand are static, everything else, for example consumers and their loyalty to the brand, is exceedingly dynamic. That is why marketers continually adjust their market communication. Today we are aware that the life time cycle of the brand is longer than the life time cycle of the product itself and majority of them extend to 19th or the beginning of 20th century which is evidently a consequence of good managing which is possible only if have the knowledge of consumer’s experiences with the brand. But most advertisers consider this only in the first phase of the product (when the product is introduced to the market) when they want to achieve recognition of the brand and later on emotions that consumer feels using the brand. But after this first phase the development of the product stops and no one considers to make changes when necessary and this kind of treatment leads the brand to it’s death and a lot of lost opportunities.
In last few decades slovene advertising agencies used to suggest companies they should constantly launch new products on the market which needed a new name, logo, packaging, advertising strategy and so on so the agencies could earn some extra money. Today’s brand’s policy is different – a company can expand the brand from one product to many of them and thus easier retains recognition, of course with advertising, innovation, new products etc. Because of this new policy slovene companies (with lots of different brands with no clear identity) now have to struggle with foreign brands that rapidly took big market shares. The second problem for these brands are private labels that have even bigger market share because consumers notice no difference in quality compared to manufacturer’s brand, exept in price, and the third problem is globalisation. So all these traps demand rapid changes – only those brands that will adjust in time and will offer recognizable identity and values will survive. One of possible solutions is uniting smaller brands into controllable number of strong brands which enables exploitation of the input and control of the brand. To make this possible, we have to remember that it’s not only the image of the brand that is important, but we must also refresh the brand, it’s quality, styling etc. A good strategy is a complicated structure but the real joy comes when we finally reach our goal.