Consumer Purchasing and the Rehabilitation Industry Coursework

Consumer Purchasing and the Rehabilitation Industry - Coursework Example Studies show that consumers have provided the impetus for economic recovery in many countries, including the US. In the wake of the US economic recession following 9/11, for example, the employment rate declined, wages stagnated, personal incomes struggled, but consumers were spending 10 percent more than the levels before the crunch. What happened was the consumers deferred their household mortgage and non-mortgage payments (housing and car loans, mostly) to pay for their daily consumption (Lilly, S. (2005). This means that come hell or high water, the consumer market is always there to lap up any brands that fulfill their needs. But precisely because the economy is in a strait jacket, producers of consumer goods and services need to navigate a minefield of challenges presented by a market made up of consumers who would only part with their hard-earned money if the brands offered to them have enough pulling power to influence their purchasing decisions. Logically, competition has ti ghtened up not only for the consumer market for goods but also for professional services, such that even the latter sector now calls for a branding strategy. The same thing goes for recruitment activities, which now use the branding approach to bag the most capable talents and personnel. Brand i Brand is the sum total of all that is known, thought, felt and perceived about a company, its product or service. It is the process of making products and companies into brands. The consumers' response to brand revolves around its image, and a strong and positive brand image influences consumers into making the decision to purchase. The marketer's principal goal is to build a relationship with buyers, not only for a single sale but also for the long term. The essence of this relationship consists of a strong bond that may be established between brand and buyer. Marketing concepts traditionally associated with the goods industry has been adopted in the service industry due to pressures exerted by rising prices and increased competition. Like all other industries, the rehabilitation industry has been buffeted by changes in technology and local economies. As in marketing for products, promotional efforts for the service sector now also put quality and customer satisfaction at the front burner. This discursive essay puts forward selected facts and theories about branding, the new challenges in marketing brands to a stingier and pickier consumer market, how bonds are established and maintained between brand and buyer, and how brands dictate the pace and scope of consumer purchasing. The essay also tracks down the journey of branding into the service industry, paying particular attention to the rehabilitation sector, which by necessity has evolved from its purely voluntary configuration into an industry as highly competitive as the market for consumer goods. II. Literature Review Haynes, A., et al. (1999) enthuse at the comprehensive brand presentation (CBP) technique, a formalized approach that aligns the manufacturing and