Everyone from countries to political parties to individuals in organisations is now encouraged to think of themselves as a brand, in which have seen the obvious success of the brand concept in past years (Geoffrey R., 1997). Why the brand is significant? And what make the brands so attractive and successful? This article will explore the role of the brand and critically analyse the advantages and disadvantages of branding.
2. Brands and Branding
Some analysts see brand as the promise of something. That something is intangible, but it could be a guarantee of quality, a sense of prestige, or of heritage. Everything the customer experiences in the process of evaluation, trial, purchase, and adoption is a verification of…show more content… When someone goes shopping at Morrison for example, strong brand names make it easier for the customer to locate and identify the suitable product needed. It promises and delivers high level of assurance to consumers. Branding may also enhance the customer’s experience aesthetically and psychologically (Melissa Davis, 2005); through branding, consumers can form some sort of attitudes and feelings towards the product. This builds brand loyalty towards the brand by the consumer, which assists decision making by building trust, familiarity and assurance of a certain standard. It is the way of expression of individual’s personality and what they stand for. To some extent it meets the aspirations of customers as well. That is why people regularly ask for a ‘Coke’ rather than a cola. Furthermore, Branding increases the innovation potential of manufacturers, and leading to more variety and consumer choice.
From a manufacturer 's perspective, branding has distinct advantages in many ways. By observing the brand equity and benefits of branding listed in Table 2, the main interest of branding to a manufacturer is that it builds a high brand loyalty; in turn generate higher and more stable sales and profits. High brand loyalty can help the consumer to overcome any price change of the product. In recent years, Nike and Sony have been able to establish