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An essay about branding
An essay about branding
An essay about branding
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“I also like Gmail, Giordano Natru – Dry shirts (my daily “uniform”), Hewlett –Packard laptops, Nokia E-series phones and Toyota. And am I the only person who uses Google Chrome almost exclusively. If I use products other than these, it’s not necessarily the end of the world. But the happiness factor might not be that great …through time, one develops a sense of affinity to one name, product or service. And subconsciously you keep choosing the same brand or product over and over not really because of its name, but because of the affinity.” (“Are you Brand Conscious?” – J. Angelo Racoma.2009)
Today, brands are a huge asset to the organisations, whereas, for a consumer they are a mania. Brand conscious consumers are a gold mine for organisations, but brands were not always a necessity in the world; there was a point in time when there were unbranded products, just one or two brands and then with the explosion of branding, it became a vogue. Branding has gone through enormous change since the time it originated till today.
This essay seeks to explore the rise of branding over the years and the metamorphosis of branding. It starts with the origin of branding and then explores various periods in history and how branding has changed according to the change in circumstances. The evolution of a brand is then described in accordance to how a brand adopts various characteristics over a period of time. Ensuing the evolution, branding in today’s age is explored. Elements such as “intellectual property,” “non profit branding” and “online branding,” that are affected by branding, are examined. Finally, the future of brands and the responsibility of brands are discussed.
HISTORY:
The Beginning:
The history of branding can be tr...
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Pine, J and Gilmore, J. (1999) The Experience Economy, Boston, MA. : Harvard Business School Press.
Racoma, J. Are You Brand Conscious? racoma.net. Weblog [Online] 16/07/2009.
Available at: http://racoma.net/commentary/are-you-brand-conscious/. (Accessed: 10/12/2010).
Slater. D and Tonkiss, F (2001) Market Society: Markets and Modern Social Theory. Cambridge: Polity.
Swystun, J. (2006) The Brand Glossary, Gordonsville: Palgrave Macmillan.
The Economist (2003) Brands and Branding, London: Economist Books.
UNICEF, (2010) UNICEF Available at: http://www.unicef.org/corporate_partners/index_42735.html (Accessed: 27/12/2010)
Warren, C, Facebook Marketing: IKEA’s Genius Use of Photo Tagging, Mashable, Weblog [Online] 25/11/2009.
Available at: http://mashable.com/2009/11/25/facebook-marketing-ikeas-genius-use-of-photo-tagging/ (Accessed: 03/01/2011).
People are often deceived by some famous brands, which they will buy as useless commodities to feel they are distinctive. People require brands to experience the feeling of being special. People spend their money to have something from famous brands, like a bag from Coach or Louis Vuitton which they think they need, yet all that is just people’s wants. Steve McKevitt claims that people give more thought on features or brands when they need to buy a product, “It might even be the case that you do need a phone to carry out your work and a car to get around in, but what brand it is and, to a large extent, what features it has are really just want” (McKevitt, 145), which that means people care about brands more than their needs. Having shoes from Louis Vuitton or shoes that cost $30 it is designed for the same use.
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.
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
It has become impossible to avoid marketing and branding. Everywhere a consumer turns, they are being persuaded and influenced by all sorts of symbols, logos, slogans etc. These aspects of a brand create the culture we live in. “The effect, if not always the original intent, of advanced branding is to nudge the hosting culture into the background and make the brand the star. It is not to sponsor culture but to be the culture.” 30 no logo. Humanity has become one large sponsored event, making it impossible in order to escape.
According to Polanyi, a market economy becomes a market society when all land, labour and capital are commodified (Polanyi, 1957). A market society is a structure, which primarily focuses on the production and distribution of commodities and services. This takes place through a free market system, which allows the opportunity for individuals to engage themselves in the market place, through trucking, bartering or exchanging. Polanyi’s fundamental idea of a market society is that all social relations are rooted in the economy as opposed to the economy being submerged in social relations.
The main objective of this essay is to understand how market society emerged, but first the defintion and characteristics of a market society must be understood. According to Polanyi, “Market economy implies a self-regulating system of markets.... it is an economy directed by market prices and nothing but market prices”(Polanyi 43). Similarily, Heilbroner explains how the market “allows society to ensure its own provisioning”(Heilbroner 12). Both of these explanations describe how the market economy is self regulated, meaning that this “economic system is controlled, regulated and directed by markets alone...
Milberg, Wand Heilbroner, R.L (2009). The Making of Economic Society. 12th ed. US: Pearson International Edition . 54-62
Branding is very important aspects of any business because it gives identity to company and its products for example every person is different and have unique personalities similarly companies differentiate their products through branding. The brand I have selected to analyses for this assignment is GoCompare.com. I have selected this company because it has always displayed very catchy adverts on television and it will be interesting to analysis the brand using theoretical models. Gocompare.com was first launched back in November 2006 by Hayley Parsons. The main difference from competitors was to display more detailed quotes rather than just prices stacked together. It found big success in very short time and in 2013 it is estimated to worth over 450 million express, 2013.
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.
The practice of brand management is a key component of marketing and performs an integral function by motivating the wants and needs of consumers. It is known that marketing can shape consumer needs and wants, however, consumers today appear to be more knowledgeable about the information regarding products. Consumers lead busy lives and have therefore gone to the internet as one of the many channels to learn about products in order to make informed decisions. This paper will discuss the argument that marketing should reflect the needs and wants of consumers rather than shaping these attributes. Due to the speed and ease of obtaining information, consumers do not take at face value strong marketing efforts that appear to be overly aggressive and push a brand rather than just being informative. Brand managers have to be aware of these changing dynamics and carefully craft brand management practices to meet the demands of consumers.
A brand audit is a detailed assessment of a brand’s current ranking in the market compared to other competitors. It provides information on how the business is performing in the market. A brand audit also aims at examining the image and reputation of the brand as perceived by customers. The two key elements of brand audit are brand inventory and brand exploratory. Brand inventory provides up to date itinerary of how a company markets and brands its products. On the other hand, a brand exploratory is an examination undertaken so as to comprehend what consumers feel about the brand. It seeks to conduct a consumer insight research in order to acquire consumers’ feelings and perceptions. This paper looks into the brand exploratory of Cadbury in terms of the customer-based brand equity (CBBE) model.
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.
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.
Early on in the twentieth century, when mass marketing and production became commonplace, company branding allowed consumers to identify with a company. The consumer made a one sided personal relationship
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.