In my opinion marketers are not overestimating the powers of branding and brands have the power to affect the consumer buying behavior. People’s perception on product value is largely influenced by the brand name. Brands play great role in creating customer loyalty and the previous product experience contribute to increase loyalty. It takes a long time to develop the brand and the values the brand tries to keep can help to create social and cultural values among the customers who follow the brand. Every brand passes some meaningful message to the customers and these messages help to create social as well as cultural values.
For example we can take the brand Apple. Nobody can replace the brand created by Apple and my electronic purchases are mostly influenced by Apple’s brand name. I never think about buying another product to substitute an Apple product. The previous experience as well as the emotional attachment towards Apple product played an important role in creating loyalty. Apple passes the message ‘Think big’ which inspires me to think in a different way and find solution to difficult issues protecting my social as well as cultural values.
Yes, brands should shape social or cultural values. When the customer loyalty increases towards a brand the customers would get inspired by the values protected by the specific brand. When they express those values through advertisements and other promotions, the customers would listen and try to include them in their life. They feel proud to say that they prefer buying products from the particular brand which protects social and cultural values. If the brands do not shape their values, the customer loyalty may go down and the brand value would degrade.
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