Brand Management & Consumer Behavior
Prof. Dr. Franz-Rudolf Esch
Customers do not buy products, they buy brands. In companies, brands are the central intangible value drivers and they do not only create distinct preferences for customers but also for employees and other stakeholders. The effective brand development starts within the company. The specific brand characteristics should be gathered in a future-oriented brand identity and subsequently this identity should be transferred into a distinct brand positioning. This is fundamental for the communication with the customers in order to establish a unique positioning in their minds.
For the development and implementation of effective strategies, it is essential to know consumers’ behaviour. The relevant psychological determinants of consumer behaviour are conveyed respectively and are related to brand management. Emotions, motives and consumer attitudes as well as knowledge about information reception and processing plus the information learning and storing are essential to influence customers. Ultimately, students are provided with a fundamental understanding about consumer behaviour and are enabled to successfully manage brands in the corporate world.