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 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
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Introduction 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.... [tags: Marketing ]
2033 words (5.8 pages)
- 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.... [tags: Marketing]
3270 words (9.3 pages)
- Marketing and branding, two of the most common used words in the contemporary world, is closely linked to each other without doubts, but the importance of branding to successful marketing is enquired to measure in term of the question. In fact, various people have different ideas on marketing and branding. For most of people, or customers, the two are normally combined in their minds or even equal to each other. For example, people could raise Apple as the answer for both questions of "what is good branding" and "what is successful marketing".... [tags: Business Marketing]
1693 words (4.8 pages)
- Distinction in Marketing In marketing, understanding the importance of brand identity plays a major role in your business and ensuring that your product distinguishes itself from your competitors. A key to establishing your product as a well-known entity that burrows itself into the psyche of your target customer base¬¬¬ are your company’s logo and tagline. These two trademarks of your company are how your customers recognize your business and identify with the products your company sells. Therefore, when starting a business extensive research and creativity should go into choosing both a logo and a tagline that differentiates your product from all others within your market.... [tags: Marketing]
863 words (2.5 pages)
- When you walk down the street, you are bombarded with signs, storefront displays, and billboards showing off their newest products and sporting their new logos or brands. Using a logo or a symbol to identify them with the everyday consumer, so that when they see that symbol or “brand,” they know exactly who made the product. The brand, in essence is the personality and the identity of a company, artist, or studio. Take for example, the logo of an apple. Everyone knows that “Apple” products are made by none other than the famous Macintosh.... [tags: Marketing ]
1429 words (4.1 pages)
- Research Scope The scope of the research is described by the definition of the following relevant terms:- This research focuses on a Financial Services Institution ability to attract and retain talent based on the employer brand. The research will draw from the experience as evaluated by using existing, past and potential employees. 1.3.1 Employer Brand Employer Branding is a context that is focussed on the package of functional, economic and psychological benefits provided by the employment and identified with the employing company (Zikmund, 2003).... [tags: Marketing]
985 words (2.8 pages)
- Within the convincing 2007 article, “Three Dimensional Branding: Using space as a medium for the message”, Herman Miller, a manufacturing company for home furnishings, furniture and equipment, speaks of branding as a way of promoting a company while comparing it to how he believes is more of an effective path – through a 3-dimensional perspective. Throughout the reading, we find Miller’s undoubted opinions on the significance a branding company and its environment has on the results of sales and performance, as well as the outcome on a consumer’s experience in a space.... [tags: Retail, design, marketing]
1527 words (4.4 pages)
- The Importance of Branding to an Organisation "Branding", is like setting names for products. Nobody would set up in business or launch a new product without giving it a name. Branding is a very important part of promotion. It can help a business to establish an identity to the product. Furthermore, 'Branding' contributes to the value and financial viability of businesses, just like their products, fixed assets and input. Businesses therefore would spend large amounts of money on TV and newspaper advertising campaigns, in order to end up with name that foremost in everyone's mind.... [tags: Papers]
683 words (2 pages)
- Marketing is the management process involved in identifying, anticipating and satisfying consumer requirement profitably. This marketing mix comprises of product, price, place and promotion (Surridge and Gillespie pg.190). Sometimes people argue that an element of the mix is more important than the others but I do believe that they are all equally essential for the success of a product. In this essay, I am going to explain the various elements of marketing mix, if the product is the most important element of the marketing mix, and the importance of an integrated and consistent marketing mix.... [tags: Marketing ]
1800 words (5.1 pages)
- Fashion Branding "Clothing is primarily a means of communicating, not personal identity, but social identity" as, said by Noesjirwan and Crawford (1982) who defines clothing as a ‘code’ (McCracken and Roth 1989) or symbolic representation. Clothing has been spoken by many theoriest in the past and they refer clothing as a code, a language, which allows a message to be created and (selectively) understood (Hollander, 1978; Holman, 1980; McCracken and Roth, 1989). Compliance towards a brand today showcases the social strata of the individual or the social group they belong to.... [tags: Social Identity, Clothes]
2237 words (6.4 pages)