Article’s

The market is segmented based on several criteria, and the products are targeted to audiences by the businesses [1]. For instance, some luxury cars have a market amongst high-income individuals, whereas some low-priced cars are marketed to mid-income individuals. Engineering products and services have a specific market segment. The customer defines the value of the product by comparing the worth they gain with all the other alternatives they can choose from [1]. Let us consider a case where a customer intends to buy a cell phone, they will start comparing the features desired with the price paid and even brands. They may also consider the costs associated with retaining their older phone by paying for minor repairs while making the decision to buy a new phone. Thus, every customer is unique when they see the value of the product. But some characteristics can likely be studied with respect to data to understand customer behaviour and use the same to develop a new marketing strategy. The brand value of the product is something that attracts and retains many customers. With a brand name, there is some sort of trust developed, such as reliable products and better quality at the given price paid [2]. For instance, sports drinks worldwide carry a brand value as they are used in sports celebrity accessories, shirts, and so on. The messages conveyed by commercials by Coke and Pepsi have allowed them to retain a large customer base and do things beyond the product itself [3]. This paper focuses on the role of branding in marketing and understand the relationship between the value gained by the consumer in engineering products. This eventually assists the engineering businesses in preparing themselves to improve the value of the product through branding and outweigh their competitors.