Tuesday, December 27, 2011

Why is branding not an easy task?

 Brand values can be established as a brand identity, if the consumers also believes in it. A brand making claims is not sufficient, it has to deliver and then the consumer decides through its own measures of authenticity by experience. His satisfaction will aid in brand differentiation and consumer engagement. Building a brand and sustaining it is no more an easy task.

Consumer wants a reason-to-buy at all, to create buying impulse is tough task with many “Me too ‘s” around

Differentiation is in the Value. Just creating awareness about the brand is no more a customer puller. The differentiation in terms of product and service offering is critical for success --meaning sales and profitability.

Consumer expectations are growing. Those brands that understand where the strongest expectations exist will be the brands that survive - and prosper. The hollowness of the brands exposes more easily during the recessionary phase.

Other Posts : 

What is Branding ? Name types of Brands.

The American Marketing Association (AMA) defines a brand as a "name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers.

• Thus branding is getting your prospects to see your product or services as the only one that provides a solution to their problem.

• There are three types of brands: manufacturer brands, private brands, and generic brands:

Manufacturer brand: A brand that is designated, owned, and used by the manufacturer of the product e.g., Raymonds, Mercedeze.

Private brand: A brand that is designated owned, and used by a wholesaler or retailer e.g., Brroke Bond or Nilgiri.

Generic brand: A non branded product that is identified only by its product category e.g., Basmati Rice, Darjeeling Tea.

Other Posts :

Redefining Branding Strategy through Logo

Case Study Level 5 Leadership.

Explain Holistic Marketing Concept

Building Sustainable Competitive Advantage

Monday, December 26, 2011

The Value of Branding

A brand is often an organization’s most valuable asset.

• It provides customers with a way of recognizing & specifying a particular product if they want to choose.

• A brand also enables marketers to develop specific images and interrelated marketing strategies for a particular product.

• In addition a brand can command a premium price in the marketplace.

• It is often the only element of a product competitors can’t copy.

Other Posts :
How do Brands Make Use of Innovation
Godrej Growth Strategy in Asia & Africa
Explain Post Purchase Evaluation-by Consumer