Brand Performance
The success of any business is determined by the level of customer satisfaction. Because of the stiff competition in the business environment, every company is keen on formulating strategies to outsmart its competitors. Perhaps, they launch different brands to meet the ever-changing consumers demand as well as attract more customers. This paper explores the brand performance of companies.
According to Chang, Wang & Arnett (2018), the orientation of a new brand plays a vital role in determining its performance because customers are more likely to stick to the first experience of the new brand. Peranginangin (2015) suggest that companies should focus on the brand position, in that the new brand should win a place in target customers’ mind, which, in return, builds customer loyalty. Importantly, designers of new brands should be innovative and put the brand quality at the forefront because that what attracts and maintains customers (Pappu & Quester, 2016). Concurrently, consumers always connect the brand and its attachment. Hence, that is an area brand manager should observe to enhance the performance of the brand (Taghipourian & Bakhsh, 2016). Subsequently, Agustiani & Barbo (2016) suggest that for the brand to perform well in the market full of stiff competition, managers should pass it through durability and reliability test before introduction in the market. Otherwise, it will face critics from rival competitors. Notably, Kinyongoh (2019) claims that the first experience of the brand by consumers should be appealing and create a unique, memorable sense to hold customers and as well motivate them to market it further to their friends. Therefore, whether the brand is new or old, it requires a quality upgrade and consistent marketing/awareness to enhance its performance bearing in mind other companies are also launching new brands in the same market.