By Ka Lee Angel Lee
A brand was said to be responsible for 18% of the total purchase decision by studies. Individuals can establish a brand-loyal psyche and that affects their choice of goods heavily. Branding thus is one of the most important beneficiaries of a well-conducted portfolio analysis. They shape customer decisions and ultimately create economic values. From the website, the top 100 global brands’ ranking was fluctuating every year. Some rocket to the top while some drop to the bottom all the time. Since the brandname phenomenon influence purchase decisions substantially, the different rankings of brands can be explained by their own company’s brand and product management which includes positioning, product, place, promotion and pricing decisions of the goods a particular company wants to provide.
The brand building competition between companies benefits not only to the companies but to the customers. Customers can then enjoy better and more advanced products. Many companies do market researches on customers’ needs and tastes. Therefore products are more tailored to our needs when companies fight to building brand loyalty in customers.