Market Research: Quality Branding
D. Best. Best Vantage Inc., Northbrook, IL. Cereal Foods World 53(4):240-241.
Wherein lies the value of a brand? Think of a brand as a company and a product as an abstract. Have you ever found yourself in a situation whereby you waste enormous amounts of time trying to parse the benefits provided between competing products (e.g., automobiles)? In a complex, time-compressed world, brands help consumers simplify their decision making. People mentally organize their purchase decision criteria into hierarchies when making daily food transactions—which type of coffee to buy, what price to pay for bananas, which pasta offers the perfect al dente texture, or what brand of bread offers the best flavor? Many of these criteria are positive, others are negative: is the product safe? What are the odds that it will disappoint? This column looks at the issue of branding and how it has been affected by the information age.