Resarch on Branding and Location Implemented on a New Venture
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The author and his four colleagues have decided to build up an upscale fast food business in London, offering a barely existing product in the UK - the german ‘wurst’, prepared in many different ways and styles. The business will be set up as a limited company and the marketing as well as the promotion will be operated mainly via internet, especially websites and social media. In order to attain our objective, becoming a successful new German fast food restaurant in London, branding as well as choosing the location is an essential component for the business plan and the customer loyalty in the future.
For that reason it is the aim of this report to clarify this matter by defining what do the terms brand and branding…show more content… (Crane, 2010)
2.2 What is branding?
The definition ‚branding‘ is often used as the blanket term from general marketing of a product to a name change or logo creation and helps the business to define the company’s position in the market. (Davis, 2009) In a world with such an excessive variety of products and services, we are all focusing ourselves on brands, because they promise us quality, security and guidance. Therefore branding has become so strong that nowadays hardly anything goes unbranded and it is clear that brands have far greater chances to survive than so-called No-Names. They exist in the brains of the costumers, because they are clearly and unambiguously positioned. To succeed in branding you have to realise what the needs and wants of your customer are. In the best of cases individual brands manage it to be a synonym for a whole product category. Well-known examples include ‘Tempo’ for handkerchiefs or ‘Fairy’ for washing-up liquids. (Unternehmer, 2010)
The one, who can link to strengthen this idea and to make it perceptible, is able to become a term to the consumers and thereby contributing a lasting Brand. (Vatter, 2012)
“In a nutshell, brand magic is about making the impossible possible for consumers.“
- Nick Gadsby, Lawes Consulting
2.3 Why is branding so important?
“If companies and brands do not really care about people, society and the planet, they cannot expect people to care much about them.“