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Fiat 500: The Power of Brands - College Term Papers

Fiat 500: The Power of Brands

Brands are key indicators of a product’s image in the market and play a crucial role in determining consumer purchases. A brand allows a company to build reputation for a product, promote brand loyalty, make its products easily identifiable, and target specific audiences. By using effective branding strategy, companies send a positive message to consumers, who then purchase a product and transfer this message to others. It can be useful for a company to exercise badge engineering in moderation by selling a product under different brand names; certain features of the product can be promoted according to different markets’ differing preferences, and the range of options in various markets ...

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in the market due to its previous reputation of unreliability and malfunction. Although the cars have a range of customizable options that allow individualism and cater to numerous consumer personalities, these features could be overwhelming and a turnoff to customers who prefer to drive immediately rather than wait for a customized order to arrive. Despite these issues, the customization also allows for the Fiat to appeal to a wide range of consumers, from the younger generations who want a “hip” vehicle to the older citizens who are looking to create a sophisticated experience. Other advantages of this small, environmentally-friendly car are its practicality for urban city-dwellers and young professionals, ease of parking, connection to the perceived flair and modernity of European goods, and affordability without compromising an award-winning engine and solid fuel economy.
With these factors in consideration, Chrysler has a number of options for branding this car to appeal to ...

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Fiat 500: The Power of Brands. (2011, May 12). Retrieved November 23, 2024, from http://www.essayworld.com/essays/Fiat-500-The-Power-of-Brands/99097

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PAPER DETAILS

Added: 5/12/2011 06:24:19 AM
Submitted By: tuna101
Category: Business
Type: Premium Paper
Words: 500
Pages: 2

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