The paper “ How a Marketer Might Use Status to Market a Specific Brand or Product Type" is an impressive example of term paper on marketing. Brand marketing is considered to be a significant concept directed in shaping the success of a given brand in the competitive global market. This can be expressed in the form of the difference existing between the realized profit and loss, thus making it critical to get a grip on the very significant information that has to do with marketing and branding. For the purpose of achieving the required success in brand marketing, there are a number of policies and regulations that are put in place irrespective of whether the process is all about the reinvigoration of a product or launching a new brand of a product (Cheung & Leung, 2004). Therefore, a better brand marketing system will normally involve a thorough analysis of the existing market, and this will normally be consistent with both the targeted market and other comparable brands.
The overall brand marketing will also persuade a solicitous and probably brilliant presentation of the identified brand.
Having a successful scheme of marketing a given product involves ways of ensuring that the process of brand marketing creates a form of peace, satisfaction, and the urge to have more within the minds of the audience. This indicates that regardless of the existing benefits and significance of the product if it is not effectively marketed its success is dimmed (Wayne & Deborah, 2009). From this explanation, it is well understood that branding is all about getting the company’ s prospects to take the company as the only competent entity in providing a working solution to existing needs, and it is not about convincing the targeted market to select a certain product over other products of different competitors.
When marketing a given brand of a product, the following objectives should be achieved with a comprehensive brand in the market. Clear communication about the brand Confirmation of the company’ s credibility Being able to unite the company’ s target prospects sensitively Enhancing buyer motivation Enhances loyalty of product users Status Consumption Status consumption theory is critically applied in brand marketing for the purpose of comprehensively recognizing and determining the tendency of a person to purchase available brands of goods and services within the status that is expressed by the ownership of the selected products.
The theory states that the level to which a certain person is able to seek an identified status will directly manipulate the degree to which the same person will display and participate in the existing consumption of status symbols. When considering communities that normally measure the benefits of given products by the social advantage context, there are levels of status consumption, and such levels are independent of both income and the existing social class of such communities. In status consumption, there are individuals who outwardly demonstrate possessions and prosperity, and such individuals are normally satisfied with privileged dealings, especially by social associates.
Considering the recent results for status consumption research such notion has been well supported and it has also indicated that adding an individual’ s social network status consumption is then widely determined. Brand consumers normally get more interested in social relations and socially aware when they are status-conscious since such consumers normally neglect the unnecessary nature of status products.
The reason for this is that the honors of brands in questions are intrinsically held together with the reputation that is normally associated with ownership of the product (the Chu, 2007).