Gujarat BoardEnglish MediumSTD 12 CommerceOCMMARKETING MANAGEMENT5 Marks
Question
Explain the meaning and characteristics of branding.
✓
Answer
Introduction :
Various types of product are sold in the market.
Even same type of products are found in the market.
E.g. Colgate, close-up, Amar, Vajradanti, Pepsodent, Denta Kranti from Patanjali, Himalaya etc. are various brands of tooth paste.
So is the case with hair oil, soap, cream etc.
Every producer desires to differentiate his product from other products, as a result the concept of branding has developed.
Meaning of Brand :
Producer indicates to identify his product any name, sign, drawing or number on his product. It id known as brand.
Definition :
To distinguish one’s own product from the products of other companies and not imitated, the producer uses name, logo, number, design, sign or all these things on the label.
This is known as branding.
When brand is legally recognized under ‘Patent’ of ‘Trade Mark’, it gains legal protection.
It is known as ‘Trade Mark’.
In short brand registered under law is called ‘trade mark’.
The attributes of the product are considered while naming the product.
Meaningful and easily remembered name is given to the institution considered while selecting the sign and name of the product.
Characteristics of Branding :
Continuity of quality :
Through branding customer feels continuity of quality of the products.
Multiple colors :
To show deign and sign carious colours are used.
Indication on packing :
Specified brand can be indicated on the packing of the product.
Special presentation of product :
Brand usually represents its attributes, advantages, utility, personality and culture.
Unique identity of product :
Sign (Brand) is a unique identity of the product.
Verbal and visual identity :
Sign (brand) is a visual and verbal identity of the product.
Selling at high price :
Branded product is sold in the market at high price.
Speedy sale :
Branded product is easily and quickly recognized by sellers and consumers.
It is more trusted by consumers and it is sold rapidly.
Review :
Along with increasing competition, importance of branding too is increasing.
Illiterate and rural people recognize the product due to brandling.
As a result spread of product increases.
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