Sunday, November 1, 2009
Branding is very important for the marketers. Organization invest large amount of money to build their brands. Marketers treat well-established brands as one of their important assets. Brands can be sold, rented and licensed to other organizations. Branding plays important role in promotion, value building, image and personality development, product positioning, brand loyalty development, and product line expansion.
Promotion
Brands are the focus of all promotional activities. Advertising, personal selling, sales promotion and publicity are all built around the brand names. Buyers choice of product is mostly made on the basis of brand names.
Value Building
Marketers use brand to build values for consumer in terms of product attributes and benefits. Buyers pay the price of the product in order to obtain these values, Marketers promote special attributes and benefits associated with the brand names to build better values for buyers.
Product Image Development
Product image and personalities are developed and established in the market in order to appeal to a particular group of consumers. These image and personality of the product are built around the brand names and brand marks. These brand images and brand personalities influence buyers choice of product. For instance, Tatamobile presents an image of durability, ponds cream an image of beauty, and Seiko watches an image of high performance.
Product positioning
Branding plays vital role in product positioning. Marketers use the brand value, brand image and brand personality to position their products against competitors products. Product positioning helps the marketer to avoid price comparisons by buyers.
Brand Loyalty
Repeat sales of a product are only possible if it is branded. Organization make long-term marketing investments to build brand patronage and loyalty among the buyers.
Expansion of the product line
Branding has important role to play in expansion of the product line. If all a brand name is well established in the market, the marketers can easily add a new product to the product line under the same brand name. Buyers show little resistance to buy a new product under an established brand name.
Promotion
Brands are the focus of all promotional activities. Advertising, personal selling, sales promotion and publicity are all built around the brand names. Buyers choice of product is mostly made on the basis of brand names.
Value Building
Marketers use brand to build values for consumer in terms of product attributes and benefits. Buyers pay the price of the product in order to obtain these values, Marketers promote special attributes and benefits associated with the brand names to build better values for buyers.
Product Image Development
Product image and personalities are developed and established in the market in order to appeal to a particular group of consumers. These image and personality of the product are built around the brand names and brand marks. These brand images and brand personalities influence buyers choice of product. For instance, Tatamobile presents an image of durability, ponds cream an image of beauty, and Seiko watches an image of high performance.
Product positioning
Branding plays vital role in product positioning. Marketers use the brand value, brand image and brand personality to position their products against competitors products. Product positioning helps the marketer to avoid price comparisons by buyers.
Brand Loyalty
Repeat sales of a product are only possible if it is branded. Organization make long-term marketing investments to build brand patronage and loyalty among the buyers.
Expansion of the product line
Branding has important role to play in expansion of the product line. If all a brand name is well established in the market, the marketers can easily add a new product to the product line under the same brand name. Buyers show little resistance to buy a new product under an established brand name.
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