As Stephen King ‘s (1973) quote goes, “A product is something that is made in a factory; a brand is something bought by a customer.” My interpretation for the quote is products are commodities products as the final result of the manufacturing process, while brands are a harmonious combination of commodities and a series of emotional connections with customers. In johnson & johnson’s baby powder, the ingredients are talc and fragrance, while Walgreens’ baby power is made of talc and fragrance as well. However, the former price is $2 higher than the later. That’s the price customers paid for brand. As Fombrun and van Riel (2004) have proved, favourable reputations of brands bring higher financial returns. Accordingly, perceptions of trust, memories, …show more content…
For example, the beloved story of Sherlock Holmes has become a brand and evolve with times. The reason why the same story remains attractive and glamourous after being told thousands of times over is because each person tells it in a little different way, which offering a new spin on the same story as time goes. McDonald’s, founded in 1940, sells almost the same products today as they were a hundred years ago. The longevity of the company implies the importance of constantly adapting to the ever-changing audience. The streamlined menus in McDonald’s are undergone constantly changes with times and locations. When McDonald’s has recognized that consumers are becoming increasingly more health conscious, they made changes to their marketing, brand, and products that reflected their audience’s changing interests. In 1987, fresh salads were introduced to the menu, and today there are even more healthy options such as apple slices, Halo oranges, and more. To satisfy the needs of customers in the world, they redesign their menus and make it specific to each country's cuisines. McDonald's India offers many vegetarian items, from the McVeggie to the Veg Pizza McPuff. McDonald's France has a attractivedessert menu that includes macaroons and cheesecake. (Business Insider,
On the other hand, my son can only get his monthly medication at CVS Pharmacy and whenever I pick his medication up or he does, we are treated like brand new customers, there is no personalization. At CVS, after waiting an extended length of time, the pharmacy technician rarely asks me if I have any questions for the pharmacist and if I do she rushes me out, like I am disturbing the flow of operations. My family describes the pharmacy at CVS as a sterile machine; you are treated like a number not an individual. We have tried different CVS Pharmacies around Lakeland, but we get the same old treatment. Both Walgreens and CVS probably handle customer identification data very similar, but Walgreens emphasizes building positive customer relations
Consumerism has always played a critical role in my life. As a child, an endless series of elementary school fads introduced this debilitating desire to have. From a young age it was obvious that one’s status is very closely correlated with what they own and the desire to fit in engendered a sense of competition in my elementary psyche. Yet, a year ago when I began working at Walgreens I started to question the ideas with which I had been indoctrinated. But at first, my job seemed a simple rite of passage and my chance to prove I could evolve into a working, dependent citizen.
They are enhancing the customer’s experience. “Across their markets, they are making is easier for customers to enjoy a great McDonald’s experience. They are introducing drive-thru to the increasingly mobile populations in China and Russia, while in the U.S. and Canada, greater drive-thru efficiency and double drive-thru lanes enable them to serve even more customers quickly” (McDonald's, 2008, 13). In Germany, McDonald’s has a reimaging program that includes adding about 100 McCafes. They are also installing new kitchen operating systems so that they can continue to deliver high food quality. McDonald’s has already renovated about 10,000 restaurants worldwide. They want their restaurants to be an expression of their brand. The company is also delivering greater value to the customer with new menu selections. “By serving a locally relevant balance of new products, premium salads and sandwiches, classic menu favorites and everyday affordable offerings around the world, they create value for customers and satisfy their demand for choice and variety” (McDonald's, 15).
At Walmart I found some discounts. One discount was soap, which was only for $4.00. Another discount was water, which was only for $2.00. These discounts in other stores are a bit expensive to buy, but these discounts from Walmart are very very cheap. At first I actually thought that Walmart would have more expensive things than Walgreens, but it turns out I was wrong.
ompanies that sell soap, perfume, candy bars, and other consumer products are expert at “decommoditizing” them: finding and capturing the value of intangible benefits and building strong brand names that can provide a kind of differentiation in the minds of consumers. But companies that sell products such as bulk chemicals, paper, and steel to businesses tend to be unsophisticated in these matters. Burdened by corporate cultures that emphasize operations and sales over marketing, many of these
As today we live in a competitive world, high competition exists in every industry. The companies must have their competitive advantages so that they can gain more shares, profits and a strong market position among the consumers. The brand trust might be a competitive advantage for the company. A recent research of brand trust by LinkedIn (2009) found that, when the consumers start to trust a brand and become to loyalty customers, 83% of them will highly recommend the brand to their family members and friend, 78% of them will try the brand’s new product or service and 50% of them will more for the brand’s product or service even there are some more cheaper products by other brands in the market. From the research we can see that the trust to a brand will highly influence the company’s operation and product development. The company who want to success
Products and Services: McDonald has to continuously evolve its menu to meet the emerging customers need and to attract new customers. Currently, nutritional value has become very important for customers.
Brand competitors and the diversity of choice that is available to consumers, puts brands under pressure to offer high quality products and service, excellent value and a wide availability (Clifton et al., 2009). Brands must differentiate themselves from the competition and create an unforgettable impression.
I see so many people walk in with heavy white pages in hand; they are just scribbles from doctors prescribing medications that just aren't working anymore. Even more so, as the prices of certain medications rise the demand never lessens. Through the small-town glass doors of Walgreens, I understand how a pharmacy functions not only as communal place of health but also as a place of unceasing issues. Customers are fed up with generic brands coming with high co-pays, insurance companies falling flat on policies, and feeling that there are no other options in trying to simply maintain their health.
McDonald’s continues to test new products to satisfy these preferences and tastes. McDonald’s menu includes hamburgers, cheeseburgers, wraps, chicken sandwiches, chips,desserts, pies, salads, sundaes, soft serve cones, coffee, soft drinks and other beverages. McDonald’s also promotes a variety of products during a limited time period. They also offer full or a limited breakfast menu in the U.S and many international markets. The importance of quality, choice and nutrition is increasing for McDonald’s customers and they are continuously expanding their menu to meet those needs.(McDonald’s Corporation. (2016))
Branding is a tool to make the goods of one producer different from another producer (Keller, 2003). Carroll (2008) asserts that branding is a sign of quality, and it is helpful to increase
* The introduction of the Salads Plus menu. This is now a permanent feature on the McDonalds menu, which brings a healthier, lighter focus to the original menu, consisting of a range of products that have 10 grams of fat or less, per serve.
The dynamics of the brand reputation helped build better businesses, and the role of the brand which consider as a barometer of value has sustained growth.
Brand Loyalty is a concept which has both attitudinal and behavioural components. Marketers are very concerned about brand loyalty. It is not simply about repurchasing. It consists of customer’s commitment towards the brand and consumption repeatedly whenever the need arises. In addition to that, customers might also act as advocates for the brand. Hence both the entities form a long lasting relationship. The success of any brand is dependent on its capability to attract customers. It is very critical for a brand to have a loyal set of customers who will stick with the brand always. Loyal customers are more likely to buy a brand than a customer who is not. This helps in generating a stable source of revenue. Sometimes brand loyalists engage in
Since McDonald’s is the most well know fast food chain in the world with a market cap of 69.35 billion, brand recognition is their biggest strength. The secret of McDonald’s success is its willingness to innovate and maintain consistency in the operation of its many outlets. In recent years McDonald’s has introduced Premium Salads, Snack Wraps, fresh Apple Dippers in the United States, and Corn Cups in China. Also, McDonald 's products are priced so low that economic conditions are almost insignificant.