Branding Strategies A branding strategy helps establish a product within the market and to build a brand that will grow and mature in a saturated marketplace. LEARNING OBJECTIVES Distinguish between different types of branding strategies KEY TAKEAWAYS Key Points Attitude branding is the choice to represent a larger feeling, which is not necessarily connected with the product or consumption of the product at all. Iconic brands are defined as having… Read More »Branding Strategies: Different Types of Branding Strategies

Brand Ownership Brand Ownership means building a brand that reflects your values and persuades consumers to believe in and purchase your product. LEARNING OBJECTIVES Describe brand ownership and the rights of brand owners. KEY TAKEAWAYS Key Points To really own your Brand, you must have a clear understanding of where your brand stands today and a concrete strategy that outlines how you wish to manage and grow your brand. Equally… Read More »Brand Ownership : Building a Brand

Types of Brands Brand Types: individual products, ranges, services, organizations, individuals, groups, events, places, private labels, media, and e-brands. LEARNING OBJECTIVES Name the different categories that fall under service brands KEY TAKEAWAYS Key Points The different types of brands include: individual products, product ranges, services, organizations, persons, individuals, groups, events, geographic places, private label brands, media brands, and e-brands. The most common type of brand is a tangible, individual product,… Read More »Types of Brands : individual products, ranges, services, organizations, individuals

Brand Equity Brand equity is the value of a brand that is well-known and conjures positive associations, which helps it remain relevant and competitive. LEARNING OBJECTIVES List the 10 attributes used to measure brand equity according to marketing professor and brand consultant David Aaker KEY TAKEAWAYS Key Points Brand equity can manifest itself in consumer recognition of logos or other visual elements, brand language associations made by consumers’ perceptions of… Read More »Brand Equity : Measuring Brand Equity

Benefits of Brand Loyalty The benefits of brand loyalty are longer tenure (or staying a customer for longer), and lower sensitivity to price. Recent research found evidence that longer-term customers were indeed less sensitive to price increases. According to Andrew Ehrenberg, consumers buy “portfolios of brands.” They switch regularly between brands, often because they simply want a change. Thus, “brand penetration” or “brand share” reflects only a statistical chance that… Read More »Benefits of Brand Loyalty

Brand Loyalty Brand loyalty entails commitment and repeated consumer purchase behavior following perceived value, satisfaction, and brand trust. LEARNING OBJECTIVES Describe the conditions that must be met to achieve brand loyalty, and the consumer behaviors associated with brand loyalty KEY TAKEAWAYS Key Points Brand loyalty is not to be characterized exclusively by a consumer ‘s ability to repurchase a brand. Customers’ perceived value, brand trust, satisfaction, repeat purchase behavior, and… Read More »Brand Loyalty : consumer purchase behavior following perceived value, satisfaction, and brand trust.

Benefits of Branding for the Consumer Effective branding of a product enables the consumer to easily identify the product because the features and benefits have been communicated effectively. This will increase the probability that the product will be accessible and therefore purchased and consumed. Dunkin’ Donuts, for example, is a brand that has an established logo and imagery that is familiar to most consumers. The vivid colors and image of… Read More »Benefits of Branding for the Consumer & Manufacturer & Retailer

What is the Purpose of Branding and Why Is It So Important? Branding involves researching, developing, and implementing brand names, brand marks, trade characters, and trademarks. It undoubtedly requires a significant contribution from marketing communications and is a long term exercise, but one that reaps long-term profitability. Branding is crucial to the success of any tangible product. In consumer markets, branding can influence whether consumers will buy the product. Branding… Read More »What is the Purpose of Branding and Why Is It So Important?

Value of Branding Branding is a long term exercise, but one that reaps long-term profitability through increased customer loyalty. LEARNING OBJECTIVES Explain why a strong branding strategy is essential to the success of a company KEY TAKEAWAYS Key Points Branding is crucial to the success of any tangible product. In consumer markets, branding can influence whether consumers will buy the product. Branding can also help in the development of a… Read More »Value of Branding : long-term profitability through increased customer loyalty

Branding Defining a Brand A brand refers to a name, term, symbol, or any other type of feature that defines or identifies a seller’s product or service. LEARNING OBJECTIVES Discuss the characteristics and connotations around branding products and services KEY TAKEAWAYS Key Points The word ” brand ” is derived from the Old Norse brand meaning “to burn,” which refers to the practice of producers burning their mark (or brand)… Read More »Branding : A brand refers to a name, term, symbol, or any other type