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Branding and its effect
Argument of branding in marketing
Importance of branding in marketing
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Recommended: Branding and its effect
Q1: Define Brand. What do brands mean to you ? What are you favorite brands and why?
ANS : Brand is a product with service, brand is always unique and famous in market. Branding is all about business which maximizes profit. Branding is the process of creating and disseminating the brand name.
For the American Marketing Association (AMA) , a brand is a “ name , term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or groups of sellers and to differentiate them from those of competitions.”
• For me brand is anything on which I can rely blindly. we can wear branded things confidently. Quality of branded things are very reliable . Brand provide us comfort level , we can purchase any
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It actually has a collection of shoes and bags. It is also on endangered list. Unze is facing the following problems.
Although it's price range is quite reasonable but apart from price it doesn't provided quality. Its provides very bad quality. It shoes are not at all comfortable, moreover the shoes break down very early and are not long lasting. So its the all about the wastage of money. The bags are also very low quality. Its like that it import things from China. That is the reason its the flop brand in the market as people don't get quality and its not worth buying.
Unze should take prescriptive measure to cope in the market. It should provide the best quality to the customers because customers prefer quality the most. Customers can buy expensive things just because they want better quality. They should raise the standard of their bags amd shoes.
GOURMET FURNITURES:
Gourmet a very renowned brand. It has exapnded itself all over the world. It has various outlets such as Gourmet bakery, gourmet water, pharamsy, caterers etc but 'GOURMET FURNITURES' is the biggest flop among them all. Gourmet furnitures has only one outlet in lahore which is situated in gulberg lahore. The main reasons of its failure
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.
A brand logo is a graphic symbol being used by organisations including businesses to represent and promote their establishments, and more importantly to create an unique identity of their products and services. The effective use of logo enables the company to engage the customers with a distinctive way and associate it with a brand name and slogan.
Disney was founded in October 16th 1923, by the brothers Walt and Roy Disney who were recognised as the Disney Brothers Cartoon Studio and have recognised themselves as a leader in the American industry before changing into live-action film production, television and travel. Today we see Walt Disney Company with an assortment of brands related to different forms of entertainment, within these brands there is the main character a mouse better known to the public as Mickey Mouse. Through the years Walt Disney struggled for success with a number of unpopular characters but his fluke changed course with the introduction of Mickey Mouse. A trademark on Mickey mouse was quickly done so to protect the brand. Mickey was described in his creations as a friendly carefree approach that caught the hearts of people of all ages.
A brand is utilized by a company to differentiate its products from others in the market. Some techniques for accomplishing this are through the use of distinguishing logos, names, color schemes, and slogans. An effective branding strategy is one of the most important components for gaining a significant advantage in a progressive market. Basically, a company brand is its promise to its customers about what can be expected from its product and how it differentiates from the competitors. The branding strategy is the part of the marketing plan that explains how and to whom the company proposes on conveying its brand messages. It will also explain where the company plans to advertise and what it will publicize both visually and verbally (Williams, 2013). Home Depot’s marketing plan will contain domestic and global branding strategies and will be a collaboration of brand messages from both Home Depot and Reach the Top®.
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:
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.
What is brand? Brand is a trade name which can distinguish from other product or service (Intellectual property office, 2013). Another meaning of the brand is to convey the promise or message to the customer (Intellectual property office, 2013). A powerful brand can lead the company to go further in the industry and it can develop the company's potential (Temporal, 2010). Therefore, brand is a signifying of the company.
A company’s brand is one of its most valuable assets (Green and Smith 2002). Brands owners invest millions of dollars every year in advertising and promotion to raise awareness and create demand for their brands.
Due to the fact that changing times imply as well a change of society and its changing wants and needs, companies have to be aware that a brand’s position should be adapted to a newly developed lifestyle. “All brands need to be revital-ized on a regular basis in order for them to be kept fresh, vital, and relevant to the contemporary market.” (Keller/Sterthal/Tybout 2002, p. 86).
Brand is the name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of others. Initially, Branding was adopted to differentiate one person's cattle from another's by means of a distinctive symbol, and was subsequently used in business, marketing, and advertising.
Brand positioning refers to “target consumer’s” reason to buy your brand in preference to others. It involves identifying and determining points of similarity and difference to ascertain the right brand identity and to create a proper brand image. A significant differential advantage can lead customers to focus on product benefits other than price. Brand Positioning is the key of marketing strategy. A strong brand positioning directs marketing strategy by explaining the brand details, the uniqueness of brand and it’s similarity with the competitive brands, as well as the reasons for buying and using that specific brand. Positioning is the base for developing and increasing the required knowledge and perceptions of the customers. It is the single feature that sets your service apart from your competitors.
...der to ensure that the quality of its products is upheld (Grover & Vriens 2006, p. 147).
Brands and branding are the concepts, which have been existing in business world since long time. Initially uncertainty existed on how much the companies should emphasize on branding of their product or service. But it continued to evolve since 1960s and today branding is one of the essential part of marketing the products and services and enables organizations to communicate their offering effectively to its customers. Branding involves several stages, which result in gaining brand equity, brand positioning and brand image. The report discusses the concept of branding and critically evaluates branding in commercial banking sector.
Product is the core of marketing, which including tangible goods like food or drinks or intangible services, as it is the major way to embody customers requirements; and, branding is directly associated with it. In fact, branding is all about decisio ns of products, like brand names or trademarks. Stork (2007) asserted that a brand is a unique business identity which represents the personality, quality or origin of products. And, such a product which added value by branding would appear in every activity of marketing, namely, branding is actually react on the whole marketing system directly and indirectly.
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.