Branding is an act of product marketing that entails creating a unique image, name, and reputation for a product to win consumer’s mind and loyalty through marketing techniques such a product advertising campaigns (Aronczyk and Devon 72). The main aim of product branding is to…
In fairly competitive product/service market, product branding is an essential marketing tool for building consumer trust and loyalty on a product (Aronczyk and Devon 75).
The concept of branding would is a marketing principle that is used by companies both in the product and price competitive industry. However, depending on the nature of competition in the market place, the effectiveness of branding is determined by either price or commodity nature of competition. In a price-competitive market economy, product branding is rendered ineffective since it is cost-ineffective. This is because consumers are price elastic, therefore, they are more sensitive to price differential property that to building image and brand loyalty. This implies that in a price competitive market, unlike product competitive market, consumers’ purchasing parity and choices are highly influenced by their ability to buy and hence product insensitive (Aronczyk and Devon 56). Advertising or any product promotional methods aimed at winning consumer’s trust and building product image among the consumers is uneconomical in a price competitive market but effective in a commodity competitive ...
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“Branding Essay Example | Topics and Well Written Essays - 250 Words - 2”, n.d. https://studentshare.net/journalism-communication/571527-branding.
The success of a product depends on how well the brand is recognized in the market. Even good products from less reputed brands may fail in the market whereas even poor products from the reputed brands may excel in the market. In short, the importance of brand value in the marketing process cannot be neglected.
Branding is essentially important for the endurance and triumph of the businesses. It is due to its relevance that comprehensive understanding and analyzing of the power of branding is required for managing the brands effectively and efficiently. Two most important aspects of branding will depict its importance more precisely.
This primarily happens owing to a misplaced and faulty understanding of the overall concept of branding. Branding involves some sacrosanct and pithy attributes which are closely intertwined with the quality and utility of the product being branded, which if overlooked could lead to unexpected results.
The startup capital of $50000 was provided to the magazine by “The Body Shop”. The launch of the magazine TBI was actually inspired by Street News, a leading newspaper in the United States of America (USA) sold by the homeless people. The main objective behind the launch of the TBI was to provide employment opportunity of the homeless people of UK.
As the world is becoming more integrated and countries are becoming more and more dependent on one another in terms of trade and business the concept of self-branding is becoming more prevalent and widespread. This paper will focus on the importance of self branding in the global community.
Thus a brand constitutes a symbolic embodiment of all the values that a corporate stands for and its represents information connected to a company. The term brand name is often used synonymously with the term brand, but brand name is usually used to denote the written or spoken linguistic elements of a brand.
According to the report every major destination is in competition with other destinations world-wide. It is important to know what others are doing not only to avoid duplication but also to aid in a differentiated product offering. Differentiation is simply not possible without comprehensive knowledge of what the competition is doing.
Since the beginning of the business operation Mr. Colgate wanted to boost customer health and provide products that could enhance the quality of their lives (Sekar, 2008). For almost two decades, the Colgate-Palmolive persisted with the same
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