SUMMARY OF RETAIL CONCEPT AND BRAND PERSONALITY
In a contemporary market place, retail branding is considered paramount in the retailing industry to influence customer perceptions and drive store choice and loyalty. Ailawadi (2004).
Digital Marketing Group (2004) defines effective branding as the proprietary visual, emotional, rational, and cultural image associated with a company or a product. The purpose of having people remember the brand name and have positive associations with that brand is to make their product selection easier and enhance the value and satisfaction they get from the product.
The first store examined, being Worldwide Appliances at Glendale, would be categorized as a "premium home electrical and appliance store." The store has a wide offering from luxury high end audio visual equipment to common need based items such as kettles, irons and ovens.
Worldwide Appliances branding consists of a long running slogan "Where the worlds best brands, compete for your prices!" This statement asserts the organizations desire to be considered as a provider of high quality products, whilst still remaining price competitive. This branding diversification allows Worldwide to compete for multiple niche markets.
Levy and Weitz (2004) classify the retail concept as "a management orientation which is aimed towards determining the needs of the retailer's target market and directing the firm to satisfying those needs" When considering the retail concept that Worldwide Appliances have adopted, it has created a mixed or unique concept that has been well absorbed by consumers. Through the combination of high end products and the exploitation economies of scale utilized through its large size, it can offer warehouse style prices on its upper r ...