Question

1. Discuss the link between a brand image and pricing strategy.

2. Discuss the advantages and disadvantages of using social networks as part of a promotional campaign.

3. Discuss the advantages and disadvantages of celebrity endorsement in the promotion of fashion brands.

Answer 1

Answer-1

Brand image is what the consumers think and feel about a particular brand; what actually comes to the mind and heart of a consumer when that brand is mentioned. It is what the consumer believes the brand to entail, as in, perception. Pricing strategies entail various economic aspects such as the ability to pay, market conditions and the actions of the competitor’s actions. A good pricing strategy should aim at attracting the consumers and working against the competitors.
The relationship between brand image and pricing should never be seen in plain black and white. It is misleading to believe that a high price will boost brand image while a lower price will do the exact opposite. According to The Naïve Marketer and Consumer, the brand is supposed to sell value and not price. What the consumers actually pay more attention to is the value that the brand can bring to them. The moment a brand is able to bring more value at the lowest possible price then it will be the most popular among the consumers. The writer has further opined that price does not necessarily translate to value, and that what matters more for a brand is the value and not the price. It is wise for the brand to communicate the value along with the price so as to protect the brand image.

Answer-2

Advantages and Disadvantages of Social Networks as part of the Promotional Campaign. Most of the modern-day marketers have come to appreciate the social media as the new form of marketing their products. However, in as much as this is a blessing, it is also important to understand the risks involved. A good number of companies are yet to find the right ways of using social media.

Advantages
This has almost everything to do with the cost of the promotional campaign. The social media sites are mostly free to open and operate.

Ease of spreading information: The information about the product can always be shared by simply re-posting it to other social media platforms.
Disadvantages
Updating social media accounts: This takes plenty of time and effort.
The need to keep posting and reposting information: New pieces of information keep popping up the social media and this tends to overshadow the intended message. It must, therefore, be done over and over again.
Negative comments from potential consumers may just ruin the brand image. Bad news travels so fast.

Answer-3

Advantages and Disadvantages of Celebrity Endorsement in Promotion of Fashion Brands.  According to FrogDog , it has been put across that in as much as celebrity endorsements are good for a brand, it can always prove fatal if certain factors are not put into consideration.
Advantages
Developing brand equity: In sports, using the most famous and popular athletes is one of the easiest ways to assert a brand into the market. For instance, Michael Jordan’s partnership with Nike led to the rise of Air Jordan.
Ease of remembering: An ad associated with a particular celebrity is very easy to remember.

Disadvantages of Celebrity endorsement
When the image of the celebrity changes: The reputation of a celebrity can suddenly take a new direction. Moreover, how the public perceives certain celebrities may make them not fit to endorse certain kinds of brands.
Overexposure of the celebrity: It happens when the celebrity ends up exposing so many companies at once. The celebrity will end up losing credibility as people may begin to see him or her as somebody who simply wants to make money out of anything.
Risk of overshadowing the brand: The customers may just end up paying more attention to the celebrity and ignore the product.