Why do some brands seem to be better than the others?
Brand is the strongest feature that a business has as each business is associated with its brand. The brand differentiates a company, its products and design from the other competitors. Brands are used extensively in business, especially in marketing.
As consumers, we are bombarded every day with copious amount of information pertaining to brands that often we do not even realize that we differentiate a brand from the others and that we make decisions based on our brand consciousness many times every day. However, consumers most often do not evaluate the products based on their technical parameters or materials from which they are made but based on their beliefs whether the product is good or not. Basically, consumers buy a product because they think that its brand is good and not because they have come to the conclusion after careful examination and assessment of its technical parameters.
In fact, people are ready to pay a premium price to get the brand that they want because it could be a symbol of status or a position in the society. For example, businesspeople are supposed to wear expensive brand suits to show that they are successful. In fact, many people are ready to trust such people more when they are dressed in a suit than when they are not. In fact, success might be attributed to a person only because he wears a brand suit, in other words, people tend to associate the brand with success and to attribute it to the people without any other apparent reason!
What is even more interesting, a higher price of the brand does not automatically mean better quality! Most people think that when they buy something that is expensive that means that it is the best. Well, this is not always true because many manufacturers rely on this belief and offer products with the same quality like their competitors but they charge a higher price and people think that it is more expensive so it is better. Moreover, companies want to tell you all the time that they are the best on the market – they use any medium – newspapers, radio, TV, billboards, and nowadays, the Web, as well. So, you get information how good they are and competitors that cannot afford so much advertising are less known and when people buy anything, they would prefer to buy something that they have seen and that is believed to be good compared to something totally unknown.
The workshop goals are to help participants evaluate brands and their quality, spot overrated and underrated brands, understand how to build a brand strategy, achieve brand recognition and make better brand-related decisions.
To address the issue WBA will hold a conference that is open to participants (individuals and organizations) from across the globe.