Brand Prestige and Functioning-Free-Samples-Myassignmenthelp.com

Question: Analyse similarities between two different watches. Answer: Brand Prestige and functioning The branding that is being undertaken by Richard Mille is based on the functionality of the watch based on the utilization of the high tech materials and the most appropriate design to fit in the requirements of the customers who are after the prestige related aspects of the brands. The elegant and classic looks of the watch has attracted the attention of the fashion conscious customers. The watch is designed in Sweden with a superior classic look, which helps in determining the brand. The proper functioning of the organization is based on the understanding of the needs of the customers to fulfill their criteria of adding the value of prestige which is determined by the product that is being used by the same (Hanzaee and Taghipourian 2012). Therefore, the branding of the product s is again based on the choices of the customers where the customers identify the brand as a sign of the elegance. On the other hand, the branding also ensures the customers of the proper services and the fun ctioning of the commodity that is being chosen by the customers. The branding of prestige oriented products and the branding of function-oriented products in todays world is based on the choice of the customer and the manner in which the customers perceives the product available in the market. It is kind of transferred epithet that affects the choice of the product made by the customers, which is determined by the branding that is used by the organization in the market (Esmaeilpour 2015). On the other hand, the branding of the Daniel Wellington Watch is based on the factors of the functionality that is a major concern for the customers. The functionality of the watch has helped in attracting the attention of the customers in the market (Theng So, Grant Parsons and Yap 2013). The functioning of the watch has helped in determining the different aspects of the customer requirements. The branding of the watch is based on creating awareness among the customers. It has helped in understanding the different aspects of the change that is required to be undertaken by the manufacturers in order to adhere to the needs of the customers in the market (Viktoria Rampl and Kenning 2014). On the other hand, the different perspectives of the customers adds to the loyalty of the same in the market structure (Vigneron and Johnson 2017). The customer loyalty pays a good price for the organization as it helps in bringing about improvements in the product that is manufactured by the organiz ation. The company produces its products, which is based on the requirements of the customers based on the functioning of the product (Keller 2017). The similarity of the branding of the two most elegant watch manufacturers is based on the assurance of the quality. Watch is a passion for the admirers therefore, branding of the watches play an important role in satisfying the emotional needs of the customer. On the other hand, the elegance of the Richard Mille watch and the sporty functionality of the Daniel Wellington Watch is based on attracting the target customers. Branding thereby plays a major role in serving the quality products and services to the requirements of the customers. The similarities in the branding of the watches help in identifying the various demands of the customer and thereby reaching out to the target groups. References Esmaeilpour, F., 2015. The role of functional and symbolic brand associations on brand loyalty: A study on luxury brands.Journal of Fashion Marketing and Management,19(4), pp.467-484. Hanzaee, K.H. and Taghipourian, M.J., 2012. The effects of brand credibility and prestige on consumers purchase intention in low and high product involvement.Journal of Basic and Applied Scientific Research,2(2), pp.1281-1291. Keller, K.L., 2017. Managing the growth tradeoff: Challenges and opportunities in luxury branding. InAdvances in Luxury Brand Management(pp. 179-198). Palgrave Macmillan, Cham. Theng So, J., Grant Parsons, A. and Yap, S.F., 2013. Corporate branding, emotional attachment and brand loyalty: the case of luxury fashion branding.Journal of Fashion Marketing and Management: An International Journal,17(4), pp.403-423. Vigneron, F. and Johnson, L.W., 2017. Measuring perceptions of brand luxury. InAdvances in Luxury Brand Management(pp. 199-234). Palgrave Macmillan, Cham. Viktoria Rampl, L. and Kenning, P., 2014. Employer brand trust and affect: linking brand personality to employer brand attractiveness.European Journal of Marketing,48(1/2), pp.218-236.