Defined as ‘a name, term, sign symbol or a combination of these, that identifies the maker or seller of the product’
One of the most important decisions a marketing manager can make is about branding. The value of brands in today’s environment is extraordinary. Brands have the power of instant sales, they convey a message of confidence, quality and reliability to their target market.
Brands have to be managed well, as some brands can be cash cows for organizations.
A brand is a tool which is used by an organization to differentiate itself from competitors. Ask yourself what is the value of a pair of Nike trainers without the brand or the logo? How does your perception change?
http://www.learnmarketing.net/product.htm
Sunday, December 13, 2009
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3 comments:
Branding is one of the important strategies for the product,,,, brand names count more for those customers who have good knowledge about other brands and markets,,,,,,,, But I m thinking of those customers who have less or no knowledge about the brands name,, will it attracts those customers as well? Will these customers care really for the brands or they just buy those products which have no brand name on it???? In my opinion majority of Pakistani don’t care about the brands.
Salman, it would be a lot more interesting if you apply this information to the Pakistani businesses instead of just explaining the concept.
Yeah of course the brand matters a lot.Its the brand name due to which companies r earning a lot lot more than others.
I m runing a small garment factory.What we do we get orders from differnt brands n wholesalers as well.U will be shocked to listen that brands n local wholesalers both pays same profit to us.n sometime wholesalers pay more.we get orders from leasure club.
Suppose for a simple tea shirt a wholesaler give us 250, Leasuer club will try to give as less as possible. may be 225 r 230.
But what happens when these garments reach the market the wholesaler will sale it for 300 to shopkeeper n shopkeeper will sell it for 350 r 375.On the other hand Leasure club will sell it for more 650 for the same stuff n quality.
This show the Brand name has vital role in earning much more money than local sellers.
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