The Importance of Branding in Marketing Essay

The Importance of Branding in Marketing Essay

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Literature Review

Since an increasing number of people focus on brand names instead of product, brands become important elements for customers to choose products (Carroll, 2008). When customers trust the brand, the benefits for the manufactures are generated. In the first place, brands can be used by products as the tool to identify and differentiate themselves from various products. Secondly, brands are helpful for companies to build a competitive advantage (Bick, 2009). Therefore, organisations take more attention to branding.

Branding
Branding is a tool to make the goods of one producer different from another producer (Keller, 2003). Carroll (2008) asserts that branding is a sign of quality, and it is helpful to increase customers’ loyalty, financial return and remain the competitive advantages. ‘It is not rooted in theory, in the strict sense.’ (Kay, 2005, p.743) Chernatony and McDonald (2003) said that branding will bring profits to companies when companies add values of products which are accepted by consumers, and consumers are pleased to pay for it. Besides, depending on Schultz and Patti (2009), branding takes a crucial place in the post-modern world as well. The objective of branding is not just diversifying any more. According to Key (2005), creating ‘brand meaning’ is accepted widely, which has been identified as a main task of building strong brand. It seems that a brand is powerful for customers, since it can generate a complex cognitive response and shape the customer behaviour. Understanding the responses and community context are two challenges of building strong brand for companies (Kay, 2005).

The elements in branding strategy, such as logo, package, design, advertising, all contributed to buildin...


... middle of paper ...


... Research in Marketing, 20: 153-175

Sriram, S. & Balachander, S. & Kalwani, M. U. (2007), Monitoring the Dynamics of Brand Equity Using Store-Level Data, Journal of Marketing, 71 (April): 61-87

Srinivasan, V. (1979), “Network Models for Estimating Brand-Specific Effects in Multi-Attribute Marketing Models,” Management Science, 25 (1), 11–21

Stewart, David W. (1996), Market-Back Approach to the Design of Integrated Marketing Communications Programs: A Change in Paradigm and a Focus on Determinants of Success, Journal of Business Research, 37 (3), 147–153.

Swait, J. & Erdem, T. & Louviere, J. & Dubelaar, C.(1993), The Equalization Price: A Measure of Consumer-Perceived Brand Equity, International Journal of Research in Marketing, 10 (March): 23–45

Varian, H. R (1983), Non-parametric Tests of Consumer Behaviour, Review of Economic Studies, 50 (1): 59-110

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