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What is a store brand, and why do many of them imitate national brand packaging? Explain the effects social, marketing, situational, and psychological influences on consumer decision-making. Discuss ethical considerations relevant to this type of imitation.
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Dec 14, 2023, 6:46 PM
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Kayla Gehring
Dec 17, 2023, 8:13 AM(edited)
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Dr. Troutman,
Store Brand and Imitating Competitors
A store brand is a product supplied or manufactured by a single entity but marketed and sold under the name of the retailer. In general, these items are less expensive than national brands. Store brands often imitate national brand packaging to leverage the recognition and trust that consumers have in those brands. It’s a strategy called “copycat branding.” The goal is to make the store brand seem like a comparable, but less expensive, alternative. It’s all about perception and value in the consumer’s mind.
Social and Marketing Influence
Consumer opinions can be significantly influenced by social norms and social influencers. The adherence to unspoken societal norms is a prevalent phenomenon. In addition, certain goods are deemed “cool” to possess, or individuals may purchase them to fit in.
Marketing efforts educate consumers regarding the presence and advantages of a product. By increasing the perceived worth of a product, marketing that is effective can increase its desirability. Marketing influences the image of a brand. A favorable perception has the potential to sway consumers to select a certain brand over others.
Psychological and situational Influence
Consumers are gravitating toward private-label and generic alternatives predominantly due to their reduced prices. This is because stores that carry high-quality store brands have assisted in removing the element of deliberation from the purchasing process. Forcing customers to make decisions at the retail shelf becomes a painstaking process. In addition, as clients deliberate over their alternatives, they are prone to encountering buyers’ regret after reaching a conclusion. An overwhelming number of options confuses buyers, eventually decreasing their propensity to purchase. However, more importantly, customer satisfaction with their purchases decreases when they are presented with an abundance of options to choose from. The plethora of alternatives has created an opportunity for astute retailers like Aldi, Trader Joe’s, and Costco to provide customers with fewer options while ensuring their satisfaction with their purchases (Danziger, 2017).
Ethical Considerations
Unquestionably, ethical considerations are crucial in situations when shop brands replicate national brands. A close imitation of a national brand by a retail brand could potentially deceive people into believing they are purchasing the national brand. This may be seen as misleading. In addition, copycat branding can be considered an unjust practice because it benefits from the national brand’s marketing efforts and reputation without contributing to those endeavors.
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Kayla
Danziger, P. N. (2017, July 28). Growth in store brands and private label: It’s not about price but experience. Forbes. https://www.forbes.com/sites/pamdanziger/2017/07/28/growth-in-store-brands-and-private-label-its-not-about-price-but-experience/?sh=290af0e4505f
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