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Significance and influences - Literature review Example

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Significance and influences

Branding therefor is not a modern business strategy although this is recently subjected into law, not only for regulation but also to institute intellectual property rights to all products introduced in the market (Interband, 2004). Branding is considered very significant for business leveraging. Products are advertised and purchased regularly by consumers using its brand as basis to determine good’s quality and services offered (Interband, 2004).Those brands that have gain significant figures of loyal consumers increased the value of good’s production. Quality clothes, milks, shoes, kitchen wares, appliances and the likes are often the most popular brands, thus, business managers handling these products enjoy high return of investment (Interband, 2004). With very good yield coupled with satisfactory business performance, share price can therefore be positively swayed. Branding commands discrimination of purchase. It also justifies increase of products’ prices using the presumption that these are all produced in accordance to quality standards. This experience is true to all pharmaceutical industry, in biotechnology, in liquor and other non-essential goods. At times due to inability of people to purchase these medicines, petitions and protest are done by government by threatening to overrule patents and permit local pharmaceuticals to produce desired medicines (Interband, 2004). Fearing that local competition will affect sales and profit, multinational-pharmaceutical will prefer to cooperate and concede with domestic market requests following negotiations to maintain their leverage and control in the market. Economists have made some guidelines to highlight the significance of branding. Design to protect its brand, trademark polices also include securing the logos, color, names and the features of packaging products, its smells, and even the music used in advertising it (Interband, 2004). Patent and copyright laws have been effective in protecting the producer’s universal rights over his products and the method of how these are marketed (Interband, 2004). As customer mostly prefer diversity of products and services that will cater their needs and expectation, companies want to engage in producing different products but are also in consideration to the interest, reputation, and values of its shareholders. Hence, companies work with innovation, accountability and social responsibility to maintain its brand image (Interband, 2004). They treat brand as both an asset and an investment for business sustainability (Interband, 2004). They correlate marketing products with business integrity and effectiveness. In case there is strong market competition, companies also delve at the opportunities of co-branding, franchising and licensing as profitable dealings to exploit their brands (Interband, 2004). A strong and strategic branding is derived from shareholders sense of values. Branding details are also defined by corporate business managers and is managed by brand marketers (Interband, 2004). It is often derived from an integrated component of the entire organization and is valued as an investment hence, assessed in financial terms. Nowadays, as branding becomes an international norm, brands can ...Show more

Summary

BRANDING: SIGNIFICANCE AND INFLUENCES Professor LITERATURE REVIEW Introduction Branding is trademark of a specific product commercialized by a certain company by designating name or symbol to its goods for distinction. Historically, the Anglo Saxon had already practiced this system by burning something and stamping it on their personal properties or goods to demonstrate actual ownership on it…
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