Branding in Services Explained through Prospect Theory

Branding and brand building are important activities in marketers’ jobs and brands are important for consumers, too. Yet, there is, in my own view, a considerable fuzzy area on what exactly does branding mean and why consumers choose branded services (and products) over non-branded ones. From the business’ point of view, brands are seen as identification means, differentiation means, assets etc. The process of branding (building a brand) is very well defined and structured in various stages. From a consumers’ point of view, brands are cues for certain expectations, while the process of branding is a learning / memory process. Maybe one day I will write on memory and branding, but for now I w

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