What Is the Future of Brands in The Technology Sector?
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What will happen to brands in the future will they be the same or will they different or will we all be buying goods on their profits instead of how we feel emotionally attached to them in some way.
When we buy a branded product we normally do so because we have some preconceived perception of the product or service. This has typically been formed from seeing, hearing or reading an advertisement or someone telling us about the product or service.
Brands have been around since the early nineteen fortyies and fifties. To make a product stand out and gain trust from a customer. This brand loyalty took from the local shop culture. Back then on the high street where local trades by name which still exists today and is the basis of all commerce that we do business with each other and their individual reputations. A brand creates trust and if done correctly changes our perception of products and service.
The technology sector is very different from say food or clothing because most high specification items are sold on features. Some buyers compare the features of products one against the other before they buy these are termed as techno expert or savvy buyers. Because there are more and more items in the market place and we all are using and buying more of them I think the market is going through a kind of education. May be the days are numbered when someone will turn around and say I do not know what it does I just buy it because it has this name on it.
I think this will change over time and will result in more educated buyers of technology. The world as we know is changing at a very fast pace it is becoming more and more the global village. We can interact with each other faster and easier than ever before. Logistics are changing at a very fast rate nowdays parcels can be delivered in a matter of weeks or even sometimes days rather than months.
I think what could happen in the future with the growth of the internet are traders who stock technological items but have their name above the door to give the trust. Similar to what it was like on the high street but instead on the internet with unbranded goods sold for features backed by the retailers promise.
Buyers now have come to realize that most technology devices are the same inside as others and that in fact the speed, functions and the reliability are important issues to them. Consumers have perhaps gone through a brand experience with an item and found out that it was or was not reliable or value for money of a friend or colleges.
Just as brand builds us its experience we also build our own perceptions of brands from our experiences and pass these on to others. We will have to see but the pace of change in the technology sector means we will not have to wait very long.