2.1 Introduction
Lately, most of the research studies on the product branding and product rebranding have been focused towards the positive aspects such as organisational profitability is increasing when products with brand that manufactured by a company get overwhelming responses from customers (Rot et al., 2010; Kotler & Armstrong, 2004; Zekeri, 2004) and the effect of current strategies of product brand development can give positive effect on profits generated by company and also organisational growth (Thompson, 2004; Kotler. P, 2004; Osuagwu, 2002; Brown, 2002).
Other than that, brand awareness and brand ethics also could lead to increasing the organisational profitability. Hence, brand awareness is the combination of brand loyalty, whereby
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The successful strategies of products branding and products rebranding would make sure the detection of changes is taking over in the market before rivalry and the advantages gained from this would be made available for customers (Zehir et al., 2011).
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Other than that, the better strategies of product brand development in a company implicate taking risks by paying attentions towards competitions and at the same time hoping to distinguish its products position in marketplaces by promote the development of customer oriented perspectives and effectiveness of management performance in company (Drury, Segal-Horn & Chernatony, 2003).
2.2 Product Branding.
Variety research and studies have been conducted onto the transformation of an organisation consistent with branding issues (Merrilees 2007; Abimbola & Kocak, 2007; Wong & Merrilees, 2005; Abimbola, 2001). Literature of marketing is encountering a change from a company on branding strategies to entrepreneurial of branding for approximately 15 years. Even though there is a high of additional amount of profits in this industries, it is still indicated that the branding of product in Asean countries are as yet in the early stage of development (Abimbola & Vallaster, 2007; Spence and Essoussi;
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Furthermore, developing brands takes time and the methods to make the process shorter of internationalization views to obtaining brands, compared with creating them naturally (Liu & Buck, 2009). Obtaining brands also provides a fulfilment to the questions of the problems. There are some exemption, whereby China’s Haier has successfully builds its brand name in developing markets through combination of product innovation and market niching (Duysters et al., 2009).
The world of long-term branding is a complex and tricked with making of the research more attractive. A well-created branding process produces a self-concept and distinctive brand that prominent among competitors. So, H. G. Wells’ (2010) has made some observations and has expressed his observations as “it allows the achievements of producer exceeds the shoulder of the traders directly to the buyers” (p. 12).
At the current period of marketing trends, branding is a prominent and absolutely necessary of marketing function (Murphy & Scharl,
Sarkar, A. N., & Singh, J. (2005). New paradigm in evolving brand management strategy. Journal of Management Research, 5(2), 80-90. Retrieved from http://search.proquest.com/docview/237238894?accountid=28644
Differentiation through marketing strategies, this is a form of innovation driven by the need to create a superior brand (Sadler, 2003).
We propose a branding strategy which takes into account the brands capabilities and competencies, strategies of competition brands and the outlook of consumers experience in their respective societies. As an international brand there is the challenge of staying connected with local customers. We will overcome this by adapting marketing strategy to local needs using a variance of standardized marketing mix and an adapted marketing mix.
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.
... brands. For established brands, the strategy that Schroiff described as "adaptive” (Arnold 7) should continue. The adaptive strategy would include maintaining existing local brands while creating economies of scale by standardizing technical product features when possible such that not destroying product value in the market. The benefits of satisfying markets-specific needs should outweigh any resultant increase in costs. Brand and product features differentiation as well as emphasizing the functional performance and emotional value of the product should be part of the marketing strategy.
Despite its complexity, branding can be denoted as a marketing exercise of developing a symbol and name that distinguishes and classifies a produce from other another produce. An effective brand approach offers the business a major edge in progressively competitive markets. Johnny Cupcakes has been able to differentiate themselves as a fashion icon by focusing on the customer’s experience at their stores. Johnny Cupcakes does not market their store locations as stores but instead they market themselves as bakeries. When entering consumers feel like they are purchasing food items not clothes, making the experience different from other clothing brands.
According to Moss (Schuiling and Moss, 2004), pharmaceutical companies have not worked proactively in identifying a brand identity for their products and in communicating this identity to consumers. They have not done market research to determine their brand identity and to verify if this is how consumers view them. Although brands exist in both the consumer goods and pharmaceutical industries, only the consumer goods industry is using brands as a competitive tool, managing its brands with care and investing resources in brand development. On the other hand, the pharmaceutical company has not understood and integrated the competitive advantage that brands could represent (Schuiling and Moss, 2004). The difference between the pharmaceutical and FMCG industries is also seen in the organisation of brand management. In the FMCG industry, branding is a strategic priority at every level of the organisation. Brands are created very early in the product development process and marketing people work in depth R&D at the beginning of the process. R&D for FMCG is relatively inexpensive and quick compared with R&D for pharmaceuticals. As a result, FMCG can focus on creating brands that will last decades, not 7-20 years. The marketing of these products is focused on maximizing the long-term brand growth rather than going after short-term return through a large sales force. In the pharmaceutical industry, it is often late in the development process when global marketing people become involved in the phase. Key decisions are taken at a much earlier phase of the product's development plan. Moreover, pharmaceutical marketing people are often more sales
Marketers assert to develop branding and packaging strategies that signify the brand’s products in a way that establishes lasting impressions in consumers’ thoughts. Because brands distinguish the many product offerings in the marketplace, brands help consumers choose between product offerings. When branding and packaging strategies clearly illustrate worthy product expectations, and products remain true to branding messages, positive consumer perceptions ensue, and brand value is strengthened.
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.
Mazda is one of case studies which success in business transformation. There used the brand strategy which reform from the insight of th...
Lastly, brand awareness is a crucial consideration. And It may be thought of as a consumers’ ability to find a brand within a group in adequate detail to make a purchase. It is important to remember that adequate detail does not always need identification of the brand name. Often “brand awareness is no more than a visual image of the package that stimulates a response to the brand.” Moreover, recall of the name is not necessarily required because brand awareness in which can try via brand recognition. According to Emma Macdonald and Byron Sharp (2003), suggested, when a brand is recognized at point of purchase, its brand awareness does not need brand recall. This is a major point in the consideration of brand awareness as the most important communication objective. In fact, the difference is misunderstood by marketing and advertising managers. The difficulty is to relate to the essential difference between recognition and recall, that is extremely important to advertising strategy. Brand recognition and brand recall are two separate types of brand awareness. The difference depends upon the communication effect that occurs primarily in the consumers’ memory.
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.
Every company seeks to create its own brand - a unique and effective image. Purpose of brand is attracting and retaining customers in its market share. Branding in marketing is a complex technology, aimed at making advantageous position a brand from the competition. Facilitating the search for the necessary goods to the buyer, branding in marketing becomes more effective if the consumer product features meet market requirements. It is especially necessary to identify the goods, for a case of unprepared buyer which can not assess the competitive characteristics (for example, high-tech products). The development of technology has had a huge impact on human society. It is reflected in the fact that we are surrounded by complex technical devices that we use every day and sometimes we have no idea of how this thing is located within. Here the brand comes to help the consumer that stands out from all those product characteristics that are important to the consumer and facilitates the understanding of the product.
This article studies the relationship between advertising and sales promotions and their impact on brand equity. A main priority for most companies is to establish and achieve a strong and powerful brand name. A company can build a strong brand name by creating the market for their customers want. By creating a strong brand name, a company will become more established. Brand equity is important to the producer, retailer and consumer. The consumer knowledge of the brand says how the producer will produce and market the product. The consumer knowledge of the brand name also determines the quantity the retailer will sale. Brand equity can have a positive or negative effect. A positive effect would be for everyone to recognize the name and purchase the product. The negative effect would be to have the product recalled. Brand equity is important because it can offer many advantages for a company. Brand equity can create a high demand for your product, reduce marketing cost and the company’s brand name will have high credibility.
Branding on consumer purchase decisions. In order to comply with this a questionnaire was prepared and survey has been conducted among 100 respondents and data revealed that brands have strong influence on purchase decision.