Discussion Post
For this Discussion post, complete the following:
Is your favorite brand a leader or follower? The position of a brand as a leader or a follower in the marketplace is often in the "perception of the customer." In other words, perception is often everything. Perceptions are enhanced by advertising and public relations.
Customers and the public customize and create their ideas about brands in any industry based on their likes, dislikes, and lifestyle preferences and whether or not the brand is considered number one in its industry category. These perceptions are important to a brand, no matter what is its position or place in the market. Marketers use these customer and public perceptions with a tool called a perceptual map. Find out more here about a perceptual map.
A brand leader is well-known and a "go-to" brand. Think: Crest. Toyota. Starbucks. A brand follower is one that enters the marketplace later, might be second in the industry, or is not as well-known as the industry leader. Sometimes, a secondary brand is less expensive than a more well-known primary or leading brand. Think: Colgate. Nissan. Dunkin.
Choose your favorite brand, and then answer the following questions:
a) Is the brand a leader or a follower?
b) As a customer, what factors do you assess to determine whether the brand is a leader or a follower?
c) What is the difference between the advertising or publicizing that a brand leader does in comparison to what a brand follower does in the marketplace to present itself to customers?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.