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Branding
Branding can be termed as a name, sign, symbol or design or a combination of them intended to identify the goods and services of seller or group of sellers and to differentiate from other sellers. A process of creating a unique name and image of product in minds of customer’s mainly through advertisement campaign with consistent theme is known as branding. Branding aims to establish a significant and differentiated presence in market that attracts new customers and retain loyal customers.
Characteristics of Branding
Targeting
Marketers must identify their target audience who are most likely to purchase their brands. No brand can appeal to entire market. Marketers often use demographics such as age, income, education as key target element.
Awareness
Brand awarness is percentage of people who are aware of particular product. Brand awarness is build through various ways of communication such as television, magazine, newspapers and internet advertising. Companies that are well established enjoy high level of brand awarness. Logo is the best way to create brand awareness, as people often recognize brand by their symbol or diagram.
Consistency
Brands must remain consist throughout their existence markets make various promises through commercials and ad’s, companies must be able to fulfill their promises .for example if customer has purchased certain product, the quality of that product should not change even if same customer buy’s same product after a year.
Loyalty
Biggest goal of a company is to create loyal customers for its brand. Loyal customers can be made through fulfilling their needs and wants. Best way to create brand loyalty is to stay in contact them. Companies must also ensure that their brands continue to be available in stores.
Branding in Business-to-Business
Business-to-Business branding is complex in nature as there are many people involved both on the company side as well as different market segments Company could be
Branding can be termed as a name, sign, symbol or design or a combination of them intended to identify the goods and services of seller or group of sellers and to differentiate from other sellers. A process of creating a unique name and image of product in minds of customer’s mainly through advertisement campaign with consistent theme is known as branding. Branding aims to establish a significant and differentiated presence in market that attracts new customers and retain loyal customers.
Characteristics of Branding
Targeting
Marketers must identify their target audience who are most likely to purchase their brands. No brand can appeal to entire market. Marketers often use demographics such as age, income, education as key target element.
Awareness
Brand awarness is percentage of people who are aware of particular product. Brand awarness is build through various ways of communication such as television, magazine, newspapers and internet advertising. Companies that are well established enjoy high level of brand awarness. Logo is the best way to create brand awareness, as people often recognize brand by their symbol or diagram.
Consistency
Brands must remain consist throughout their existence markets make various promises through commercials and ad’s, companies must be able to fulfill their promises .for example if customer has purchased certain product, the quality of that product should not change even if same customer buy’s same product after a year.
Loyalty
Biggest goal of a company is to create loyal customers for its brand. Loyal customers can be made through fulfilling their needs and wants. Best way to create brand loyalty is to stay in contact them. Companies must also ensure that their brands continue to be available in stores.
Branding in Business-to-Business
Business-to-Business branding is complex in nature as there are many people involved both on the company side as well as different market segments Company could be