Question

Choosing a brand entails 2 stages: 1) forming consideration set that includes those brands in the category that consumer will evaluate carefully and 2) evaluating brands within the set before choosing one brand.

Briefly explain 2 ways in which this 2-stages process influences the marketing strategies of companies.

Answer 1

The 2-stages process of choosing a brand influences the marketing strategies of companies by ensuring their brand is considered and by differentiating their brand from competitors.

Step-by-step explanation:

The 2-stages process of choosing a brand influences the marketing strategies of companies in the following ways:

1. Forming consideration set: Companies need to ensure that their brand is included in the consideration set of consumers. This involves building brand awareness and visibility through advertising, promotions, and targeted marketing campaigns. For example, a company may use social media marketing to engage with consumers and create brand recognition.
2. Evaluating brands within the set: Companies need to differentiate their brand from competitors within the consideration set. This can be achieved by highlighting unique features, benefits, and value propositions through persuasive marketing messaging and demonstrating competitive advantages. For instance, a company may emphasize quality, reliability, and customer testimonials in their marketing materials.