Sample Essay
In order to differentiate themselves from their competitors, retailers have been utilized the concept of branding to brand themselves. The retail stores can build strong bands by identifying the personality which best suits the target market and building the brand around the personality. Despite this retailers often find it difficult to build string and successful brands as they sell multiple brands under their product name. This makes them multibrand retailers that need to reflect multiple personalities.
“Although some multibrand retailers have managed to command a national brand identity (in Sears’s case, one founded on reliability), many suffer from a lack of brand distinctiveness independent of the brands they carry. In fact, many multibrand retailers have lavished more thought and care on those brands than on their own banner.” (Henderson & Mihas, 2000) To be successful at building a brand, the retailers need to define their target markets and identify what the customers expect of them. The retailers can then seek to build the brand such that the rand fulfils the expectations of the customers. “Retailer’s marketing and advertising efforts must fashion an image around the brand that is not only consistent with these benefits but also credibly promises that they will bring excitement and satisfaction.” (Henderson & Mihas, 2000)
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