"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. Just think of 'Coca-cola' and 'Pepsi'
competition, they both spend an obscene amount of money in promoting
their brand each year, in order to become the dominant brand. We can
also notice that many of their ads don't even contribute to its
product, but rather, selling their brand and try to create "brand
awareness" as well as "brand loyalty." Why? The answer is simply
because they want to create a "well-established" brand, which would
eventually formulate an inseparable link between its product and the
This becomes apparent as we just see how powerful 'branding' can be as
a selling tool in our multi-media marketing environment, when looking
at areas such as: Computers, we would automatically think of IBM; or
Software we would automatically think of Microsoft. These companies
have established themselves as "the" dominant player in their fields.
Such good job at impressing its brand into consumer's mind may also
gain advantages in competing with other brands/products. Even for
businesses that have superior products at superior prices, but w...
... middle of paper ...
Even for a well-established brand name, it can be easily forgotten in
consumers' mind, therefore, it would be costly for businesses to pay
for 'continuous' promotion of the brand.
Nevertheless, 'branding' is a very powerful tool in promotion and also
very important tool for developing businesses. Although it is an
expensive tool, which some businesses may not be able to afford the
amount of money for 'branding.' Such businesses might results with
some disadvantages when compare with a well-branded business, however
for some cases/markets, branding may not be as important to consumers,
such as plants. Ultimately business is only as good as the identity
that underpins it, as 'branding' allows businesses attract new
customers and make "established" customers return time and again.
Thus, increases ones' profit.
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