How a Marketer Might Use Status to Market a Specific Brand or Product Type - Term Paper Example

Name: Professor: Institution: Course: Date: Introduction 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 grip of the very significant information that has to do with marketing and branding. For the purpose of achieving the required success in brand marketing, there arte a number of policies and regulations that are put in place irrespective of whether the process is all about 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 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 by adding individual’s social networks 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 neglects the unnecessary nature of status products. The reason to 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 (Chu, 2007). Luxury product brands in Australia such as Vaio laptop and HP laptop possess a desirability that goes beyond their practical use and are a way of providing the perceived status to the consumer, which is achieved through the application and consumption of their services. In this case, consumers purchasing and endorsing HP laptop brand normally communicate their inner desires to be connected with all individuals that apparently are found to be using the same brand. Thus the brand’s image, and probably the kind of lifestyle projected by the brand are also associated with them. Most of the Vaio laptop and HP laptop consumers normally consider a wide range of spectrum over aspects affecting the brand, especially when making a purchase. This involves the process of evaluating the degree of satisfaction of emotional needs to be achieved in the existing laptop brands. In Australia, many laptop producing companies, particularly Vaio laptop and HP laptop, are trying all best to tap into consumer emotions with their numerous brands. From the recent research, it has been determined that emotional reactions over the highlighted brands are playing a significant role in shaping and finding out the intention of purchasing a given product. It has been formulated that emotional reactions is twice as possible in accounting account for brand acquisition other than the cognitive part of purchase. This can therefore, be recognized that most brand consumers, especially with Vaio laptop and HP laptop in Australia, normally do react to such brands during decision-making process in two different forms; in a cognitively directed manner and emotionally projected manner. With this form of thinking, there a rise two aspects concerning brand marketing that is in line with brand consumers. There are status consumers and consumers that have a high need for uniqueness in their purchased brands, and it is clear that such consumers normally buy such luxury brands of products for apparently different reasons. Despite such differences in intentions for buying such products (Vaio laptop and HP laptop), they normally share some basic factors in common, and these are the process of improving on their self image through product brands, and the basic motivation for the purchase. There is a clear contradict that exist between these two brand consumers; where status consumers normally purchases different products that have visible logos for the purpose of evidently displaying their wealth level and status. On the other hand, consumers that have a particular need for uniqueness normally purchase extravagant product brands but will a step a head to pay large amount of money for a hidden brand label (Schell & Tyson, 2008). In this case, such behavior in product brand buying enlightens on the present situation when it comes to marketing of luxury product brands. Since, there are consumers who are wishing to distinguish themselves, and other group of consumers who are trying to impersonate the existing trend of other individuals, and this includes the specific aspiration to be different. Therefore, brand marketers are supposed to distinguish such individuals so that they are able to understand various approaches to be used when cutting across the global market (Block & Zautra, 1981). To better understand the concept of status consumption and ways of marketing different brands, the concept of three significant antecedents of status consumption can not be avoided, which are highlighted by the use of a status consumption model. The antecedents of status consumption consist of the following: a. Socio-psychological antecedents These are factors that describes the historical background of a given product brand and also the targeted market. It highlights on the previous trends of the product and the audience, and tries to bring out a better focus on what is supposed to be done so that the targeted brand can enter or re-enter the market. These socio-psychological antecedents are further subdivided into other three significant divisions. Social gains Esteem indication Ostentation b. Brand antecedents These are factors that normally affect the flow of the brand in the market. The flow of a given brand in the market can be affected by factors that are directed to or originating from the market itself or the overall management of a company producing a given product. They are also further categorized into two divisions, namely: Management controlled brand features Market controlled brand features. c. Situational antecedents. These are factors that affects the buying of a given product brand depending on the current situation within the market. It indicates that brands that go faster and deep in the market are supported by the current situation in the market, in term of season, economical positioning, and market stability. Therefore, it is of great significance that the brand marketers are able to determine such factors, and distinguish them from each other before bringing a product into the market. All of these significant antecedents of status consumption are represented in the following status consumption model. When getting deep and specific to a certain group of individuals within the targeted market, there is need to be specific on various aspects affecting the market, which will in turn affect the overall process of buying products in the identified market (Diener, 2003). Therefore, this calls for having a clear framework that is designed to look into specific items within the status consumption, and this calls for a comprehensive status consumption framework. Considering the above status consumption framework, it is clearly indicated that with changing consumption pattern, most individuals in the targeted markets do buy brands of a given product for other reasons beyond the normal material consumption purpose. They buy brands for purposes of position, status, and other significant symbolic value, which are normally referred to as status consumption. The framework shows that the motivation for the market (brand consumers) when it comes to making status consumption is normally based on the identified social value view within the targeted market. This indicates that brand market is normally self-satisfied or self-expressed through the existing buying behavior, which involves individuals’ moods and emotions replicating different on-line responses to events taking place within the same market (Erickson, 2007). Subject well-being consist a variety of component that includes: a. Life satisfaction b. Satisfaction with significant domains c. Positive effect d. Low level of negative effect. From the framework above, it is also found out that most individuals within the market normally rely on their way of thinking when determining life satisfaction judgments, and this is based on the cultural basis of the same individuals. In this case, the cultural commencement of happiness involves the overall satisfaction realized with a variety of life domains; acculturation; and variation, and all of these factors are put in relation to different market variables such as personality, social support, age, and social grouping (Tull, 2003). Conclusion When offering product brand that are focused on status consumption, one is supposed to concentrate on variety of strategies that normally exhibits symbolic meanings sustaining the positioning of social status within the identified product brand since most of consumers who basically engage in purchasing of products for status purpose do expect to have brands that focus on their social status. This means that sending messages that have meanings directed towards respect, distinction, and probably the social status within their brand withholding strategies, will efficiently be appropriate for the brands in the stiff competitive market. Therefore, marketers are supposed to be active and relevant to what is expected of them in the fast growing market. References Wolfe, D. B. (2003). Rajendra SisodiaMarketing to the self-actualizing customer: Journal of Consumer Marketing, Vol. 20 Iss. 6 Block, M., & Zautra, A. 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