Branding And Branding Essay

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Brands and branding are the concepts, which have been existing in business world since long time. Initially uncertainty existed on how much the companies should emphasize on branding of their product or service. But it continued to evolve since 1960s and today branding is one of the essential part of marketing the products and services and enables organizations to communicate their offering effectively to its customers. Branding involves several stages, which result in gaining brand equity, brand positioning and brand image. The report discusses the concept of branding and critically evaluates branding in commercial banking sector.
Branding

Marquardt et al. (1965) investigated how much the customers emphasized on brand and carried out a survey …show more content…

The customer-base potency is achieved by creating a brand image and customer loyalty, which is considered as the core dimension of brand equity. The competitive potency is gained by creating a unique brand trend, support by bringing innovativeness to the product or service and protection of the brand image by connecting with the people. The analysis of global potency enables companies to determine differences between local and global market and bring changes accordingly to create a unique brand identity (Gobe, 2010). Today relational branding has gained significant importance wherein brand equity is created by their efforts in connecting with their customers in every aspect. Gummesson (2002) states that the common belief that relationships occur explicitly only between human beings cannot be justified since the relationships can involve symbols, objects and other immaterial phenomena. This type of branding emphasizes on importance of relationship with various aspects of the company and are considered important in branding since they directly have an impact on the image of a company. The image is created by impersonal factors such as company name, famous personalities in the company, brand, logo etc (Cijo, 2014). Today consumers define brand relationship form individual perspective and are much personalized in the mind of the consumers. The brand equity, brand image and loyalty is created by individual relationship based on their perception of brand value and their experiences (Gobe, 2010). The customer thus, creates and promotes a brand from the communications he/she makes across multiple

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