The Pros and Cons of Branding Essay

Brand design plays a crucial role on the customers’ purchasing decision. The brand design is the tool to promote a product by any organisation that can either attract the customers or resist them to buy the product. The chosen topic is considered to evaluate the importance of branding for any product in UK and US. As opined by Kapferer (2012, p.76), Brand Design is important when trying to market a new product or service in the market, which is new or already exists.

A brand is utilized by a company to differentiate its products from others in the market. Some techniques for accomplishing this are through the use of distinguishing

According to Holt (2004), a brand can be defined as a term, name or a design that distinguishes product or service of one manufacturer from others. Brands are normally utilized in advertising, business and marketing. In accounting terms, brand is an intangible asset which is present within every organization. It is most valuable asset that is outlined in the balance sheet of a company. Brands owners need to effectively manage their brands in order to enhance shareholder value. Brand valuation is an important technique that associates money with a brand. Effective branding often results into high sales volumes of a particular product. A customer who prefers a brand is more likely to choose other products which are offered by the same brand. Brand can be stated as a personality that facilitates identification of a company, product or service. It even encompasses relation with other constituents like customers, partners, investors, staff, etc. Individuals distinguish psychological aspect of a brand from experimental

Manras (Brand and its Importance, 2011) defines brand as a sign, symbol, name, term or design or a mixture of them, which is designed to recognize the goods and services of one seller or group of sellers and to differentiate them from the competitors. Do not stop at tangible aspects, a brand also implies emotional one, such as personality, value, attitude and a story behind the brand.

Aaker (1996) states brand is a product, an organization, and a symbol. This is where individuals differentiate themselves and stand out by having a unique value. A personal brand is the actual perception of others. When a person creates a personal brand, then they will stand out easily.

Branding improves recognition, creates trust, and generates new customers. With the right tagline or logo any retailer can become memorable which increases the value of the company. It also builds trust because customers will always be under the impression that the merchandise they are wearing is made from quality materials. Last but not least, the right branding can generate new customers. I am positive that almost everyone owns something from the Nike brand whether it be shoes, socks, or clothing, but if not seeing a friend that loves all thing Nike can leave a huge impression on an

A brand is an organisation, product or service which has created an emotional connection with their consumers in order for them to favour their brand over their competitors. It is incredibly important for brands to keep up their image and one little thing could change the global perception of a business. It takes a lot to maintain a brand image that has been built up over a long period of time and even more to regain it if that reputation is lost. Brands are created through various different aspects such as their visuals, tone of voice, advertising, actions and reputation. The combination of these will leave their consumers with long lasting emotions and perceptions of a particular brand and will effect whether they support a business or not and whether they would favour or avoid it. When a brand looses their image it can cost a lot of money and time to rebrand to prevent complete failure of the product or service.

An important tool in marketing, to a successful product, is its company brand name. Today the impact on branding a product has greatly increased the interest of the researchers and the academics. A brand name of a product arouses emotion, memories and a close relationship with the customer. On the other hand, global branding has a greater impact on the customers throughout the world. When it comes to globalization, the growing and expanding of a business solely depends on the brand of the product.

What position does branding hold in the minds of the customers compared with competition? Branding is a strategy used by marketers to differentiate products and companies in order to build economic value particularly for the consumer and the brand owner. A strong brand in most cases inspires customer loyalty that leads to high sales of products. Given that, Microsoft that represents a series of owns Xbox One video games has introduced the strategy of branding in order to remain viable in the market.

In the theory, it defines a brand as a name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate the offering from those of other competitors. Simply put, branding is one of the most important aspects of any business, large or small, retail or B2B, which is the promise to customers and tells them what they can expect from the products and services. (Lake, 2015) (Williams, 2014) Consistent, strategic branding leads to a strong brand equity, which means the added value brought to your company's products or services that allows you to charge more for your brand.

According to the American Marketing Association (AMA), a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition”. However, as Keller highlights, a brand is also “something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace”. Therefore, a brand is an identity created to differentiate itself from the competitors and to be remembered in consumer’s mind.

Use of company branding in the marketing mixIntroduction.The JB HI-FI company brand has established itself as a leader amongst Australian home entertainment retail stores. Their philosophy has always been to provide Australians with the cheapest prices and biggest range. As a value player in the entertainment electronics retail market, JB HI-FI has continued its’ marketing theme of “Cheapest Prices Always”. Having grown from ten retail outlets in 1999, JB HI-FI now has 141 stores (Australia: 131 NZ: 10) with $2.731 billion of sales for the year ended 30 June 2010. JB Hi Fi is Australia’s largest home entertainment discount destination store. For over thirty years their philosophy has always been to provide Australians with the cheapest

Since an increasing number of people focus on brand names instead of product, brands become important elements for customers to choose products (Carroll, 2008). When customers trust the brand, the benefits for the manufactures are generated. In the first place, brands can be used by products as the tool to identify and differentiate themselves from various products. Secondly, brands are helpful for companies to build a competitive advantage (Bick, 2009). Therefore, organisations take more attention to branding.

Basically, branding is a philosophical expression of the human condition. It is about belonging/attachment. Belonging to a tribe, to a religion, to a family and to a product. The Branding establishes a sense of attachment. It has this function for both the people who are part of the same group and also for the people who don’t belong. The origins of branding are basically related to the nature of the human condition. A tribe is a brand—religion is a brand. When it shows itself in a modern, fashionable form, you are expected statingbranding that began in the 19th century. It was basically affiliation with fast-moving consumer goods. But that is a distortion of what branding is. That type of branding is a manifestation of differentiation. It’s a differentiation of onefast-moving consumer product from another. Brands are a direct consequence of the strategy of market segmentation and differentiation.

Long before now has branding been considered as one of the peripheral aspects of business. Manufacturers, investors and other key players focused on the product without paying much attention to the consumer. But as the business landscape got tougher, marketing became not just an integral part of business but one of the fundamental principles of success.