Willingness-To-Pay | Branding – Other elements of operating

Other elements of operating costs include the need for maintenance and repair, the benefits of potential warranties and everything customers pay for the use of the product. The willingness to pay for a product or service results from three factors: how much a customer likes their product or service once they have it; how easy it is for them to get it; and how expensive it is to own the product. The advantage of consumption comes from the different characteristics of a product or service. Performance Characteristics: Performance attributes are characteristics of the product or service that most people think are better. If you find our ideas on how to create a brand and understand brand management and want a better understanding of yourself, your marketing teams or your management teams, we can develop a training and development commitment tailored to you. BSI is a service of The Blake Project a leading U.S.-based brand consulting firm serving marketing professionals worldwide. Customers often have difficulty obtaining the product or service. We focus on sharing experiences that promote an in-depth discussion of brand strategy and management and community promotion among marketers. We will refer to the first part as Consumer Utility, the second as Accessibility and the third as Operational Costs. Whether it’s electronics, sports equipment, furniture or appliances, products wear out, become obsolete or need to be replaced for other reasons. Secondly, the accessibility of the product or service must be taken into account. As a customer, we get more value from a product that lasts longer and is therefore cheaper per use. Branding Strategy Insider supports marketing-oriented executives and professionals in building strong brands. The following worksheet summarizes these dimensions of willingness to pay and helps you track relevant factors in your business environment.