Module 5 Response MBA565

Module5 Response MBA565

Module5 Response MBA565

Response1 on Discussion 1

I concur withLaura that pricing of a product is to some extent determined by theaspects of the brand. It is true that the image of a brand and abrand equity are the main components that determine the priceattached to a product. I liked the point that the image of the brandshows how the customers and other firms feel about a given brand(Severi &amp Ling, 2013). I have earlier on witnessed people buy aproduct, not because they have ever used it but because of thepopularity of the brand. The popularity of a brand is created by theperception of the brand by the consumers. I enjoyed the discussion asit explains the reasons as to why people can keep on buying a singlebrand. It is appealing how the brand equity makes the people stick toa given brand. Most customers tend to keep on buying a certain brand,and this is consistent with Laura`s discussion concerning brands.

Response2 on Discussion 2

It is appealingthe way Scott explains different types of pricing strategies and theway they are affiliated with brand image and brand equity. I like thestatement that puts it that pricing is crucial in an organization asdifferent prices are attached to different brands (Kapferer, 2012).Brands that are associated with low prices are seen to be of lowquality unlike the brands that are affiliated with high prices areseen to be of high quality. The statement is consistent with theexample of wine given by Scott. I credit the report that talks of, ifthe prices are high, and it corresponds to the value of the brand,then the strategy adds value to the brand image (Kapferer, 2012).

References

Kapferer, J. N. (2012). The new strategic brand management:Advanced insights and strategic thinking. Kogan page publishers.

Severi, E., &amp Ling, K. C. (2013). The mediating effects ofbrand association, brand loyalty, brand image and perceived qualityon brand equity. Asian Social Science, 9(3), 125.