Abstract
In the hyper-competitive markets of today, brand equity based on symbolic values and meanings is becoming more important. In the absence of a true one-on-one relationship, marketers are engineering brand symbolism and personality that becomes part of the consumers' lives and creates in the consumers' minds a continuous relationship between the brand and themselves. This paper explores the importance of symbolism in consumers' self-concepts and personalities, and discusses the various brand life cycle stages at which various types of brand symbols are added, using Goodyear's model as a reference. A small empirical study was undertaken to find out whether consumers perceive symbolic values and meanings to be important, to confirm that most-favourite possessions describe ‘who I am now’ while least-favourite possessions describe ‘who I used to be’ and that some possessions are more central to self than others. This paper further reveals the implications that brand communications have taken on a new form and can no longer be just a simple communication of a name or benefit. Brand communications have to evolve into the communication of an entire concept about living based on symbolic values and meanings.
Published Version
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