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Brand development plan - Essay Example

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Brand development plan

Positioning…………………………………………………………………8 v. Secondary Association……………………………………………………9 vi. Legal Protection……………………………………………………………10 Communicating the new brand……………………………………………………………..10 i. Marketing Communication………………………………………………….11 a. Advertising……………………………………………………..……11 b. Personal selling……………………………………………………..12 c. Sales promotion………………………………………………………12 d. Public relations………………………………………………………12 Possibility of Brand extension ………………………………………………………………12 Conclusion……………………………………………………………………………….13 References…………………………………………………………………………………14 Introduction Nearly all businesses have names they use in trading, from the small scale retailer to the large-scale multinational organization. Product branding has become increasingly fundamental in shaping a product profile. Branding uses names, symbols, labels and layouts to guarantee that a product is recognizable and distinct from competitive products in the market. A product brand signals both the origin of the product and the supplier responsibility for the product. Brand names create trusts and are particularly helpful for promoting the environmental qualities of products when these would otherwise not be apparent. Both the supplier and the customer benefit from branding. From a customer’s point of view, brands help reduce the demand for information when making purchase decisions. Needless to say, they also provide status through the image they display, recognition and expected high quality. In essence, brands create a mental picture that provides focus to the consumer when choosing between several alternatives. From a supplier’s point of view, branding enhances the opportunity for initial sales and repeat buying. By differentiating a product from its rivals, branding provides some scope for pricing discretion, although the extent of discretion depends on the market structure. Lamb et al. (2011) states that a “company’s brand is the most powerful communication tool in marketing products” (p. 156). I reference to Kotler (1991) a brand “strategy is built on brand positioning, brand mission and brand promise” (156). This paper discusses the brand strategy for Flash Sports and footwear Incorporation. Flash Sports and Footwear Incorporation deals with both male and female sports and foot wear. This brand name will be used in all its products across the globe. Development of New Brand Being heard in the middle of a competitor’s growling voices is an overwhelming task in contemporary market. This is shockingly proved to be true each time we view the television, read the newspaper or magazine or visit the internet. As a result, there is need for a business to seek and develop new brand to effectively increase awareness and brand loyalty. Though brand development is by no means a new idea, Doyle (1994) asserts “today consumers have more access to information and more choices than ever before” ...Show more

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Brand Development Plan Name of Student: Name of Instructor: Contents Subtitle Page Number Introduction………………………………………………………………………………3 Development of new Brand……………………………………………………………….4 i…
Author : avalangworth
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