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GROUP 3 GROUP 3 Branding is the management process by which a product is branded. It is a general term covering various activities such as giving a brand name to a product, designing a brand mark and establishing and popularizing it. ` ` ` Brand - In simple terms, a brand ³is a word, mark , symbol or design that identifies a product or differentiates a company and its product from others. Brand Name ± a brand name consist of words, letters, or numbers which may be vocalized and refers to products. Brand Mark ± a brand mark is that part of brand which appears in the form of a symbol or design or distinctive colouring or lettering. Advertising can be directed more effectively. Memory recall is facilitated. Self selection is facilitated. Sales can be increased through brands. It ensures standard quality. IMPORTANCES OF BRANDING Brand is a means of identification. Brand is a promotional tool. Branding creates goodwill. Reduces the cost of advertising. Availability of products at all places. Easy introduction of new product items. Distinctive Suitability Suggestive Easy to master Short Family suitability It identifies the product and distinguishes it from other competing products. It saves advertising cost if the brand name is popular. It helps in advertising and sales promotion programmes. If affords an easy way to purchase by easily identifying a product. The brand name indirectly assures certain quality by identifying the manufacturer behind the product. The brand name assures fixed prices. ` Branding leads to brand monopoly. The cost of advertising a brand in the initial stages are high. Brand names do not always assure good quality. ` ` (a) (b) (c) (d) (e) National brands Regional brands Advertising brands Family brands Individual brands DISTRIBUTION ³A distribution channel for a product is the route taken by the title to the goods as they move from the producer to the ultimate customer´. William. J. Stanton ` Transfer of title to the goods involve. Physical movement from the point of production to the point of consumption. Storage functions. Communication of information (availability, characteristics and price of the goods, inventory and on purchase). ` ` ` ` Product Market Middlemen Company Marketing environment ` ` ` ` ZERO LEVEL CHANNEL ONE-LEVEL CHANNEL MANUFACTURE R CONSUMER MANUFACTURER RETAILER WHOLESALE R WHOLE SALER RETAILE R JOBBE R RETAILE R CONSUMER TWO-LEVEL MANUFACTURER CHANNEL THREE-LEVEL MANUFACTURE R CHANNEL CONSUMER CONSUMER ` ` ` ` ` ` ` ` Middlemen Agent / brokers Wholesalers Retailers Distributors Dealers Jobbers Consumers