Advantages And Disadvantages Of Branding

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Industrial Management 1

Prof. Dr. Joosung Lee

6th November 2017

Advantages of Branding
And
Branding in the Digital Domain

A common misconception is that branding is simply a logo or slogan. A logo certainly is a key element but when we look beyond these walls we see that a brand is something much more valuable.
“Well you don 't have to look very far. When Tata Motors of India bought Jaguar and Range Rover from Ford, what did they buy? Factories? Raw Materials? Employees? No Goldman Sachs and Morgan Stanley helped Ford sell the brands to Tata for $2.56 billion, and the brands were worth more than all other ingredients combined.” (Goodson, S.,
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(McLaughlin, A.C.A., 2017) Figure 1: Minute Maid Packaging (Lin, D., 2017)
In most cases we can see that the more effort a company puts in for branding and increasing identity, the more recognition it gets. For example, The Coca-Cola Company is known internationally for its product. We could recognize a Coca-Cola product no matter what font or language the labels are printed in. The red colour and shape of the bottle instantly brings to our minds that it is a Coca-Cola product. This is what recognition and identity is all about.

Branding helps a company to stand out in the crowd. In other words, it is what makes a company different from competition. Macmillandictionary.com defines standing out as “to be very different and easy to notice”. That is the essence of branding.

GoPro is one brand that fits right here. They chose to exploit and dominate a niche segment of the industry. GoPro changed a normal camera to one that could be mounted on the body, and marketed it specifically to sporty and adventurous people. It turned out to be one of the main accessories for surfing, cycling and skate boarding as it took fantastic shots on the move. Figure 2: Simmons, D., 2013. GoPro Hero 3
You certainly can’t be a hero by purchasing a camera, as suggested by the slogan “Be a Hero”. But on linking this slogan with all the features
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