Power is winning the battle over who owns the customer: the brand or the retailer.
Sentiment: POSITIVE
Suppliers and especially manufacturers have market power because they have information about a product or a service that the customer does not and cannot have, and does not need if he can trust the brand. This explains the profitability of brands.
The strength of brand loyalty begins with how your product makes people feel.
To me, a 'brand' sounds evil.
Consumers no longer want only a great product - they want to buy products from companies that align with their own character and values.
I don't shop by brand loyalty at all. I'm just drawn to what I like when I shop. I do like this brand called Tiger of Sweden a lot, though. They make great sportswear and tailoring. And Calvin Klein; big supporter of them as well.
Brand is just a perception, and perception will match reality over time. Sometimes it will be ahead, other times it will be behind. But brand is simply a collective impression some have about a product.
Consumers now have a voice. And the fact that consumers can be creators, producers and distributors means they can push back against brands to punish them for their socially irresponsible behavior or reward them for their responsible behavior.
Obviously we're a consumer nation and you have the power to influence these big corporations who are running the world right now through what you chose to, or not to, purchase.
A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.
Your brand is your public identity, what you're trusted for. And for your brand to endure, it has to be tested, redefined, managed, and expanded as markets evolve. Brands either learn or disappear.