Category : Banking
Branding is the management process by which a product is branded. It is a general term covering various activities like giving a brand name to a product, designing a brand mark and enforcing it.
The advantages of using brand names could be easily recognized for each group of participants in the marketing viz manufacturers, consumers, distributors, as follows
There are some important terms related to branding.
A brand is the identification of a product e.g., Nike, Reebok, LG, etc.
We can classify the brand into following two broad categories
Distributor's brands stress on the identity of the retailer.
The part of a brand, which can be spoken, is called a brand name. It is the verbal component of a brand e.g., Uncle Chips, Vivel, Maggie, Safola, Maruti Suzuki, etc.
At the time of choosing a brand name, various aspects require careful consideration.
The following are some of the general considerations
(i) Easy to pronounce
(ii) Easy to read and understand
(iii) Appropriate for the product
(iv) Easy to remember
(v) Most descriptive in nature
It means the extent to which consumers are familiar with the qualities or image of' a particular brand of goods or services.
Brand mark appears in the form of a symbol, design, distinct colour scheme or lettering, e.g., the Gattu of Asian Paints, Zuzu of Vodaphone or Devil of Onida TV.
To conquer a new market, when any company launches its new series of product by converting the old appearance of its own products, it is called brand cover.
When customer buys a brand, not only because of habit but due to the likings or preference towards a particular brand, then it is known as brand loyalty.
Brand equity should be defined in terms of marketing effects uniquely attributable to a brand. That is different outcomes result in the marketing of a product or service because of its brand compared to the results if that same product or service was not identified by that brand.
Any name, symbol, figure, letter, word or mark used to identify or distinguish a product produced by a particular manufacturer, is called trademark. A trademark must be registered with a govetment patent office to assure its exclusive use by its owner.
A logo is a graphic mark or emblem commonly used by commercial enterprises, organizations and even individuals to aid and promote instant public recognition. It can be a drawing, image or symbol that identifies and represents a company but this does not necessarily mean, the logo has been registered as a trademark. A business logo is often used on websites, pamphlets or any type of advertising material offered by a company.
Packaging is the technology of enclosing or protecting products for distribution, storage, sale and use. It means putting the products in suitable containers or packets such as tin, plastic jar or card board box, etc. Packaging should be such that product is protected and can be easily handled. It should be attractive and eye-catching and as far as a eco-friendly.
Packaging must achieve a number of objectives which are as follow
First, packaging must protect the product. It also has a promotional role which has become more important some of the important functions are
On the basis of convenience, packaging is categorized as follows
It is the material that first envelops the product and holds it. This usually is the smallest unit of distribution or use and is the package which is in direct contact with the contents.
It is outside the primary packaging, perhaps used to group primary packages together.
It is used for bulk handling, ware house storage and transport shipping. The most common form is a palletised unit load that packs tightly into containers.
On the basis of nature, packaging is classified into
The products of a particular manufacturer when packed in an identical manner is known as family packaging. The shape, colour, size, etc. of packaging will be similar for all his products.
Packages that could be reused for some other purpose after the packed goods have been consumed is known as re-use packaging. This aspect increases the sales value of the product considerably.
It is the practice of placing several units in one container.
The label can be a simple attached tag or an elaborately designed graphic that is a part of the package. It serves the purpose of indicating the contents, weight or measure, instructions for use, price, name of the producer, data of manufacturer and expiry, etc. The information on the label is essential for various reasons e.g., the date of expiry in case of medicines and date of manufacture in the case of eatables prevent the sale of products which may prove harmful.
There are three types of labels that are as follows
In this type of label, only brand name is used on package of a product. This brand name is either producer's name or any word, symbol or design. e.g.. Lux, Lifebuoy, etc.
Product classification in this label is based on standards quality. Products are classified into A, B, C or 1, 2, 3 categories based on quality.
This labelling is used for the branded products that furnishes detailed information about the product attributes and quality.
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