Sunday, June 5, 2011

Is the image of a product more important than the product itself?

In business, the image of a product is more important than the product itself.
Describe a specific situation, in business, in which the product itself might be more important than the image of the product. Discuss what you think determines, in business, whether or not the image of a product is more important than the product itself.
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In a capitalistic economy, competition provides a mechanism by which the best products and services reach the population. Businesses, in order to attract and keep clientele, must keep up-to-date with what is being offered in the marketplace and ensure that their can brands can compete with (or better yet, outdo) similar products. With similar products being sold by an array of businesses, marketing becomes key in attracting and maintaining consumers. However, for longevity purposes, products must prove to live up to their great marketing image; a low-quality product--although having a "good image" at the outset will most often end up as mere fads.

Marketing companies know that buyers act on emotion. The functionality or practicality of a product is often insufficient for attracting customers. In our consumerist society where most attempt to keep up with the Jones', people are driven by various factors when it comes to buying items. First, they want to feel important. They are bombarded with ads on a daily basis that indirectly tell them they cannot be complete without possessing a certain product. If the Jones drive a BMW, they must also strive to purchase one. Once they perceive family members and friends conforming to the messages of the ads, the pressure increases for them to fit in and buy that certain brand. Indeed, most people want to feel accepted in society and possessing a certain item with a great image will fulfill (albeit temporarily) one's desires.

Especially living in an internet-based society, competition among products has become even more fierce. The majority of Americans have access to the internet and therefore, more access to information as to what products are in the market. Therefore, businesses need to work twice as hard to differentiate their products and services from the millions of others out there. One company that has arguably run the most successful marketing campaign is Apple. Their ipod and iphone products are the best examples of products that have become popular due to ingenious marketing techniques. (e.g., product packaging, layout, etc.)While there exist several mp3 players with the same technological capabilities as the ipod, Apple still finds its sales well above those of the nearest competitor. Steve Jobs has essentially garnered a fan base that will buy all products with the Apple brand---even the limited-capability ipad computer despite already having full functional computers at home.

While image is key in high sales, a product will not last too long in a market unless its quality and functionality live up to its image. There have been several products that reach unprecedented sales for a short amount of time but suddenly disappear from publicly view. Why? Most likely, the product had not proven to be of quality value to their consumers. People purchased the product based on emotional appeals of the ad but then did not view it as a valuable item in the long run. In turn, those around the buyers also realized that the product was not worth the purchase. Granted, a product may have practical and valuable application to buyers for a long term; however, businesses need to keep up with trends and continue re-inventing their product image in order to attract consumers. Indeed, high-quality products and great marketing go hand in hand when striving to maintain high sales.

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