Branding, Packaging and Labeling as Labeling as Strategies to Face Stiff Market Competition Today

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Contents Introduction 2 Literature review 2 Branding 2 Packaging 2 Labeling 2 Branding, packaging and labeling as labeling as strategies to face stiff market competition today 3 The benefits of branding : 3 Memorability 3 Oyalty 3 The benefits of packaging 5 Function 5 Attraction 6 Promotion 6 Facilitates Purchase Decision 6 Differentiation 6 The benefits of labeling 7 Control 7 Branding 7 Structural 7 Value 8 Conclusion 8 Introduction Competitive market is where a lot of buyers and sellers come together as each of them is a price taker. There is several techniques the seller can apply to differentiate their product in order to take advantage in the market. Such techniques are of branding,…show more content…
That 's loyalty. And supposedly, more people have the motorcycle brand "Harley-Davidson" tattooed on their body than any other brand name. That 's out-of-this-world loyalty. Familiarity Branding has a big effect on non-customers too. Psychologists have shown that familiarity induces liking. Consequently, people who have never done business with you but have encountered your company identity sufficient times may become willing to recommend you even when they have no personal knowledge of your products or services. Seeing your ads on local buses, having your pen on their desk, reading about you in the Hometown News, they spread the word for you when a friend or colleague asks if they know and that 's what you do. Premium image, premium price Branding can lift what you sell out of the realm of a commodity, so that instead of dealing with price-shoppers you have buyers eager to pay more for your goods than for those of competitors. Think of some people 's willingness to buy the currently "in" brand of bottled water, versus toting along an unlabeled bottle of the same stuff filled from the office water cooler. The distinctive value inherent in a brand can even lead people to dismiss evidence they would normally use to make buying decisions. I once saw one middle-aged Cambridge, Massachusetts, intellectual argue to several colleagues that

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