Gujarat BoardEnglish MediumSTD 12 CommerceOCMMARKETING MANAGEMENT5 Marks
Question
Write a detailed note on branding.
✓
Answer
Branding:
Definition:
When the product of one producer is to be easily identified from that of products of other producers and no one else can copy it by using its name, logo, number, design on the label, etc. it is known as branding.
Meaning:
Branding is necessary in order to distinguish own product from the products of competitors. To achieve this, the producer tries to develop a specific name, logo, design or number for the product through which consumers can easily identify the product. $($Note: For example, sports accessory company Nike has a unique logo similar to a tick mark. Consumers can identify a Nike product just by looking at its logo even if Nike is not written.$)$
At times, the producer also gets the brand name and logo registered with government so that no other company can use it. This prevents duplicating. Such a legal certification is called trademark.
A brand provides identity to the product. The producer while deciding the name of the product keeps in mind various things about the product such as its features, utility, part of owner’s name etc.
The product name should convey a particular meaning and should be easy to remember. Often the philosophy of the organization is kept in mind while deciding the name or a symbol.
Features of branding:
Branding makes people trust the consistent quality that they expect from the said brand.
Specific colours are used while labeling and creating designs for a brand. Also, specific pattern or designs are used to symbolize the brand.
The finalized logo is printed on the packing of the product and many a times at the product itself.
Brand of a firm shows the features, advantages, uses, personality and culture of the product.
Symbol creates a unique identity.
Symbol is a verbal and visual identity.
Product with a symbol can be sold in the market at a high price.
It is easy to sell a product carrying a famous symbol. In fact, the sale is higher for a product carrying a famous symbol. $($Note: For example, $ADIDAS$ shoe company has a logo consisting three stripes. This logo is famous itself to give the product a high value in consumer’s mind$.)$
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