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Importance of BRANDING
Explain the importance of effective corporate branding
Sustaining brand equity
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Recommended: Importance of BRANDING
Brand exists in the mind of the customer. Brand identity is related to HOW the product looks (aesthetics). The product features such as its name, color, style, functions (what it does) and symbol/logo all are the main intangible features of a product. Brand identity is everything. It is the sum of all tangible and intangible features such as the ideas, convictions, qualities, prejudices, preferences, features, patents, trademarks, and channel relationships and ancestry that make it unique. Brand identity also relates to the way customers feel about the product. Brand identity perception is the culmination of all the internal and external characteristics of the company and its products - the name, symbol, packaging, literature, signs, vehicles and culture. Branding influences how its target market or a single customer perceives brand or a company, as expressed by SMART: Strategic Marketing And Research Techniques. 1
Strong Brands names are those that are trusted by the public. All these factors contribute to the characteristics of brand identity. The term brand identity can apply to a single product such as the Mini car or to group of products such as the Apple iPhone, iPod and iPad, or Samsung smartphone, notebooks, TVs etc. Ferrari is another well-known and respected brand, having a unique brand identity. People tend to associate with brand to enhance their own personal image. Brand identity helps customers differentiate between similar products, as expressed by V.Ryan (2011) 2.
Successful brands usually have customers who display loyalty by buying the same product, time after time esp. in consumer products such as detergents, mouthwashes, cooking oil etc. 2
Brand image is the best, single profitable investment a company makes...
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...y 21, 2014 from http://www.marketingmo.com/strategic-planning/brand-strategy/
4 Venchito Tampon, 3 Effective Ways to Build a Strong Brand Identity, (2014) Retrieved July 21, 2014 from http://www.searchenginejournal.com/3-effective-ways-to-build-a-strong-brand-identity/64849/
5 Stephen King, WPP Group, London, Branding Quotes, (2014), Retrieved July 21, 2014 from http://www.bizcommunity.com/Quote/196/82/866.html
6 Ian Linton, The Advantages of Product Branding, n.d., Retrieved July 21, 2014 from http://yourbusiness.azcentral.com/advantages-product-branding-8115.html
7 brandXpress blog, 5 Benefits of Branding, (2006-2007)http://www.brandxpress.net/2005/10/5-benefits-of-branding/
8 Kyle Simpson, Top 10 Branding Examples Killing It and What You Can Learn From Them, n.d., http://www.biggirlbranding.com/top-10-branding-examples-killing-it-and-what-you-can-learn-from-them/
Amos, Silas. "Champions of Designs: MTV." Editorial. Marketing 30 May 2012: 20. Ebscohost.com. Marketingmagazine.co.uk. Web. 22 Feb. 2014.
In every given business, the name itself portrays different meanings. This serves as the reference point and sometimes the basis of customers on what to expect within the company. Since personality affects product image (Langmeyer & Shank, 1994), the presence of brand helps in the realization of this concept. Traditionally, brand is a symbolic manifestation of all the information connected with a company, product, or service (Nilson, 2003; Olin, 2003). A brand is typically composed of a name, logo, and other visual elements such as images, colors, and icons (Gillooley & Varley, 2001; Laforet & Saunders, 1994)). It is believed that a brand puts an impression to the consumer on what to expect to the product or service being offered (Mere, 1995). In other application, brand may be referred as trademark, which is legally appropriate term. The brand is the most powerful weapon in the market (LePla & Parker, 1999). Brands possess personality in which people associate their experience. Oftentimes, they are related to the core values the company executes.
Brand; - brand is known as uniqueness in term of what products or service the company provides. Brand is also set of insight or image that represents seller. Brand defines symbol, name, term or feature of company’s service or goods. Example of popular brand is apple, Amazon and Samsung.
Brand identity is about story telling. Using the latest content that has been published, compromising the five best images that reflect the profile of the brand, a consumer-photo-storyboard can be developed to: Describe the profile of the brand; Identify the main communication and publicity themes; and Critically assess the integrated modes of communication with consumers, including limitations and negative content.
Branding is a critical component to a customer’s purchasing decision. These days, customer complaints and opinions are online and viewable through a simple search, on either Google or social networks, such as face book, instagram, what’s up and twitter. There is no hiding anymore; transparency and authenticity are the only means to survive and thrive in this new digital kingdom.
This paper argues why both brand identity and packaging are vital to a successful marketing strategy, and that they are more powerful intertwined, than as two separate elements.
The brand identity consists of all the visual elements, which make up a brand, which together identify and distinguish the brand in the consumers mind. Cadbury have been able to create a modern, memorable and eye catching brand identity through the use of their colors and designs. Cadburys design stays more or less the same throughout the world allowing you to recognize it despite possible language barriers.
Tanner and Raymond (2014) describe branding activity as “strategies that are designed to create an image and position in the consumers’ minds” (c.6). When branding messages coincide with its offerings’ characteristics, it establishes consumer trust, and brand strength. For example, when first introducing Dove brand in 1957, by labeling its product as a “beauty cleansing bar . . . [with] ¼ moisturizing cream, that rinses cleaner than soap” (Unilever, 2016), we can see that marketers associated the brand to moisturizing and beauty, and disassociated the brand from common soap. Over the years, this consistent message coinciding with product performance has strengthened the Dove brand. Strong brand equity is derived from consistent, strategic branding that establishes perceived quality and emotional attachment (Entrepreneur, 2016); therefore, consumers are more likely to pay higher prices, as well as purchase new offerings connected to the
A brand identifies a seller’s product from a competitor’s product. There are three main purposes for branding product identification, which is the most important purpose, repeat sales, and new-product sales. Branding has a lot of terms that marketers use there is brand equity, global brand, and brand loyalty. Marketers also have different brand strategies that they use for different products or customers. It all depends on the consumer for them to decide which strategy they will use. The different strategies are generic products, manufacturer’s brands, private brands, individual brands, family brands, and co-branding. The branding purposes and the branding strategy make up the importance of branding.
[1] Aaker, D.A. and Jacobson, R. (1996) Building Strong Brands. New York: The Free Press.
Today's modern concept of branding grew out of the consumer packaged goods industry and the process of branding has come to include much more than just creating a way to identify a product or company. Branding is used to create emotional attachment to products and companies. Branding efforts create a feeling of involvement, a sense of higher quality, and an aura of intangible qualities that surround the brand name, mark, or symbol.
The term 'branding' in modern marketing is generally originated in the agricultural practices of the medieval age. The farmers 'branded' their animals with the iron and then they were able to identify to whom a particular animal belonged. Artisans 'branded' their products, for example, expensive silver tableware. Smiths 'branded' their swords. The role of the brand is to identify products by the same way as for medieval farmers and for modern corporations as well.
Aaker, D.A., (1991), “Managing Brand Equity: Capitalizing on the Value of a Brand Name”. New York: Free Press. P. 134-140
There are many different definitions of brands out there and they all try to establish what exactly is a brand and how it can be used. According to the de chernatony , 1998 defining a brand in one word is very difficult and he used 12 phrases to broaden the definition of brand. Those themes include:
All humans are exposed to branding and marketing on a daily basis. Commercials, internet ads, t-shirts, television shows. In today’s fast moving society, we’re constantly bombarded by the marketing and branding practices of businesses. As a new business owner, it can be daunting to step from being the observer to a creator of marketing and branding.