International Journal of the Bank Marketing - MyAssignmenthelp.com

Question: Discuss about the International Journal of the Bank Marketing. Answer: Introduction It can be said that a consumer has a special relationship with a brand. Many consumers are loyal to particular brand while others experiment with different brands instead of sticking to one. It is to be mentioned that there exists many dimensions of brand relationship with the customers. According to Pappu and Quester (2016), the key themes that have been associated with brand relationship are: Brand Attachment, Self identity concept and Social Media. Discussion It is to be stated that every popular brand has a group of customers who will tend choose and buy products and commodities produced by that specific brand. This special group of customers is generally termed as brand devotees. Brand Devotees have an extreme emotional attachment with a specific brand and have a high level of commitment to it. Brand devotees are the greatest assets of a brand. According to Levy and Hino (2016), the level of exclusive attachment with a brand originates from excessive Brand Loyalty. The Brand Devotees have a strong biasness for their chosen brand and therefore their judgment about the products and commodities produced by the brand are clouded. They can evaluate the true value of the value of the Brand as they have too deep and emotional connection with it. According to the Attachment theory it can be said that people who have strong level of attachment with their loved ones are generally the ones who are willing enough to make sacrifices for the ones they are attached to. However, the sacrifice to them is justified as they perceive their sacrifice as an investment in life for their emotional attachment. It is to be mentioned similar is the case with brands. As opined by Brocato, Baker and Voorhees 2015 People perceive emotional attachments with brands just as they experience the same with people. It can be said that if people have repeated and frequent interactions with brands their emotional attachment increases over time. It can be said that the idea of being devoted to a brand reflects in proper relationship as well. Just as people feel attached to a person in a relationship they feel the same about a brand. The other factor that closely associates an individual with a brand is the idea of preferring a specific brand as the same suits their personality self identity. As opined by Levy and Hino (2016), people can often relate the products and commodities of specific brands with their self identity and personality and therefore have biasness towards that brand. It can be said that consumers have a tendency of using possessions and brands to create self identity. It can be said therefore the idea of self identity and consumer behaviour are closely related. It can be noted that people while choosing a specific brand explores his needs, then verifies it and finally affirms it. However important mention should be made of the fact that consumers engage in restorative behaviour to investigate whether the specific brand relates to their self identity. According to Schivinski and Dabrowski (2016), social media also plays an influential role in creating and promoting brand loyalty among people as it gives people an insightful view about the customer base of the brand and understanding norms and preferences of people in local as well as global markets. It can be said that social media affects consumer behavior and often produces better results in promoting a brand than generic messaging. It has been found that consumers and customers often respond positively to the brands which try to connect with people and create a dialogue with them (Proksch, Orth and Cornwell, 2015). The brands which share the views of the people are more likely to have a positive effect on them. Promotion of brands by celebrities, who are patronized by people on the social media, has also been found to be effective in connecting with people. People generally equate their love and devotion for the people they idealize with the brands promoted by them. However, it is to be mentioned that just as people fall in love and prefer to settle down with their loved ones, they also fall out of love and their commitment to their loved ones end. The same can be related to consumer behaviour. It has been noted that consumers who have had strong attachment with a specific brand also change their preference in some instances. The reason of changing the preference of a specific brand can be due to several reasons. It can be stated that change in a persons lifestyle can lead to a change in his brand preference. The lifestyle of the consumer in the modern era includes not only his living standard but his attitude to the world. It can be stated that lifestyle of person generally is determined by his background, his upbringing and financial stability. However as opined by Schivinski and Dabrowski (2016), the advent of new technology in the globalizing world has also caused the consumers to alter their lifestyles. People have been exposed to new lifestyle techniques. They have also been exposed to the different brands associated with such lifestyle techniques. It can be said that customers are more likely change their preference of a particular brand if such brand cannot adapt to the changing market demand and behaviour patterns of the customers. People tend to explore other options after they get bored and feel unsatisfied. The same can be said about brand preference of people. It can be said that life transition is a critical phase in a persons life and the same has huge impact on the behavior of people and their preference of brands. It can be said that due to life transition, people perform new roles and relinquish the old ones. According to Morhart et al. (2015), it can be said since possessions are integral part of a persons self identity, any change in their roles and responsibilities will also impact their preference of brands. Conclusion Thus to conclude, it can be said that just as people feel attachment to other people in life due to the presence of an emotional connection , they feel the same about specific brands. People feel attached to specific brands as they can relate the same with their self identity. However, behavior pattern of consumers and their loyalty to specific brands change over time due to several factors just as the commitment of people to their loved ones end in real life. Bibliography Pappu, R. and Quester, P.G., 2016. How does brand innovativeness affect brand loyalty?.European Journal of Marketing,50(1/2), pp.2-28. Retrieved from https://www.researchgate.net/profile/Ravi_Pappu/publication/276207142_How_does_brand_innovativeness_affect_brand_loyalty/links/572ac03008aef5d48d30d238.pdf Brocato, E.D., Baker, J. and Voorhees, C.M., 2015. Creating consumer attachment to retail service firms through sense of place.Journal of the Academy of Marketing Science,43(2), pp.200-220. Retrieved from https://www.researchgate.net/profile/Julie_Baker5/publication/271631149_Creating_consumer_attachment_to_retail_service_firms_through_sense_of_place/links/5730a0af08ae08415e6a765e.pdf Levy, S. and Hino, H., 2016. Emotional brand attachment: a factor in customer-bank relationships.International Journal of Bank Marketing,34(2), pp.136-150. Retrieved from: https://www.researchgate.net/profile/Hayiel_Hino/publication/295519688_Emotional_brand_attachment_a_factor_in_customer-bank_relationships/links/5757415c08ae04a1b6b690d7/Emotional-brand-attachment-a-factor-in-customer-bank-relationships.pdf Morhart, F., Malr, L., Guevremont, A., Girardin, F. and Grohmann, B., 2015. Brand authenticity: An integrative framework and measurement scale.Journal of Consumer Psychology,25(2), pp.200-218. Retrieved from https://www.novasbe.unl.pt/images/novasbe/files/INOVA_Seminars/lucia.pdf Proksch, M., Orth, U.R. and Cornwell, T.B., 2015. Competence enhancement and anticipated emotion as motivational drivers of brand attachment.Psychology Marketing,32(9), pp.934-949. https://search.ror.unisa.edu.au/record/UNISA_ALMA11142959440001831/media/digital/open/9915970008701831/12142959430001831/13142954780001831/pdf Schivinski, B. and Dabrowski, D., 2016. The effect of social media communication on consumer perceptions of brands.Journal of Marketing Communications,22(2), pp.189-214. Retrieved from https://irep.ntu.ac.uk/id/eprint/26435/1/3908_Schivinski.pdf