Question

Describe three dimensions marketers can utilize to understand consumer schema about their firm’s brands and explain the importance of this understanding to marketing strategy.

Answer 1

Three dimensions that marketers can utilize to understand consumer schema about their firm's brands and explain the importance of this understanding to marketing strategy are consumer beliefs about the brands, brand evaluation and consumer intention to buy the brand. These three dimensions determine consumer behaviour to buy. The brand beliefs are consumer perception about the brand in terms of the brand quality and its benefits to consumers. Based on the acceptance and need of consumers about these attributes the consumer decide or plan for buying a particular brand. Brand evaluation are the ratings that consumer assign to the brand. Consumers may find a brand average, good or best based on the information shared by the brand and their experience. These dimensions are important to marketing strategy as consumers form their decision to buy based on the information they have collected about the brand and their experience. The third dimension is intention to buy. Intention to buy is influenced by information shared by the brands, the type of belief developed by consumers, their evaluation of the brand and other factors like benefits about the brand. The location , convenience to buy, pricing, packaging, size and discounts influence the intention to buy.

Brands can include the desired information in their marketing strategy to influence consumer decisions. Brands can assess consumer perception and beliefs and take necessary steps to build a positive opinion and evaluation of the brands based on the brand attributes. Advertising and other marketing factors influence the intention to buy as well as the Point of sale factors like customer service and discounts offered by the brand. The marketing strategy developed by the brand based on such factors is more effective and creates positive impact on brand consumers.