Seminar paper from the year 2007 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 2, University of Vienna (Marketing ), course: Special Topics in Fashion and Brand Marketing, 19 entries in the bibliography, language: English, abstract: Increasingly, brands are seen as important in creating individual identity, a sense of
achievement and individuality for consumers. It is clear that positioning a brand
trough a clear and consistent image building campaign is a cornerstone of brand
marketing.
It is also evident that certain brand dimensions and associations lead to increased
marketplace recognition and economic success for brand owners, as a result the
value consumers place on them. Marketers spend millions of dollars each year to
identify well defined, strong brand images and to support them.
A company's economic superiority is frequently implied by the strength of its brand
name giving it the ability to differentiate itself and improve its competitiveness.
(Nykiel, 1997) Park, Jaworski and MacInnis (1986) noted that consumer needs could be classified
in functional or symbolic needs. The functional needs are related to specific and
practical consumption problems, whereas symbolic needs are related to self image
and social identification. (Subodh Bhat, 1998)
Therefore they mentioned that all brand should have a "brand concept", which is an
overall abstract meaning that identifies a brand.
Also, there are different types of motivations among each individual, and these
motivations drives their needs either to be functional or symbolic in nature. Thus,
functional needs of consumers could be exploited with a functional brand, one
positioned with a functional brand concept. A brand could be also positioned as a
"symbolic" brand for consumers who whish to enhance their self image or their social
image. (Park, 1991)