Brands are names or logos that set apart or distinguish a business, good or service from its competitors (Thomson Reuters, 2024). Brands are everywhere (e.g. Nike) and represent a certain quality standard a customer receives if s/he purchases that good. In the ornamental plant industry, we have brands, but they are less ubiquitous than in other industries, such as fashion or restaurants. The ornamental plant industry has several brands that face the industry and end customers. But what drives the value of brands among end customers?
When considering end customers, it is important to understand that they all have unique internal drivers. Internal drivers include perceptions, attitudes and beliefs that exist within the customer.
These are outside of our control; however, we can help guide customers' interests using external stimuli. External stimuli include the marketing mix (product, place, promotion and price) and provide the customer information that can influence their behavior. In turn, their response (i.e. purchasing behavior) reflects a combination of internal factors and how the external stimuli impact their needs.
Brands can be used in all three areas to establish reasonable expectations via the external stimuli, which ultimately impacts customers' level of satisfaction with their purchases.
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