Importance of Branding
Introduction
Successfully building an appropriate brand for a company does more than merely provide an appealing design, picture and slogan for a consumer to view. It provides a value that which is necessary to obtain in order to stay competitive in most industries in modern day society. This is both valid in Business to Consumer (B2C) marketing and Business to Business (B2B) marketing. The approach and importance of successfully branding ones service or product both tangible and intangible through B2C and B2B are similar, but also do have key differences. In this report, we will discuss the advantages of building a strong brand name and image, risks, and some techniques.
Relative Literature
Brand pundits refer to our modern day society, (that which strategic branding is necessary otherwise one will be faced with a competitive disadvantage) also as a branding world (Sarin). This is due to there being more than 2.5 million registered trademarks in the United States alone (Sarin). With such heavy competition, it is vital that ones company does everything possible to differentiate themselves. Building a strong brand is a great method of doing so. Obtaining a recognizable brand backed with a positive brand image make purchaser’s decisions much easier. It allows an abundant amount of information to be provided to the customer or business representative before any form of research (Robert Vitale).
As much as bundling information for purchaser’s to make easier decisions assists businesses increase their sales, it also prevents the consumer or business representative from purchasing the wrong good. Active marketers aim to succeed at two different points of a sale: 1- properly market their product/service to be initially bought, 2- have the person or company be satisfied with the value purchased (Robert Vitale). After the second point, it is likely that the company has just gained a repeat, loyal customer. If an individual/company finds a good/service that meets
Successfully building an appropriate brand for a company does more than merely provide an appealing design, picture and slogan for a consumer to view. It provides a value that which is necessary to obtain in order to stay competitive in most industries in modern day society. This is both valid in Business to Consumer (B2C) marketing and Business to Business (B2B) marketing. The approach and importance of successfully branding ones service or product both tangible and intangible through B2C and B2B are similar, but also do have key differences. In this report, we will discuss the advantages of building a strong brand name and image, risks, and some techniques.
Relative Literature
Brand pundits refer to our modern day society, (that which strategic branding is necessary otherwise one will be faced with a competitive disadvantage) also as a branding world (Sarin). This is due to there being more than 2.5 million registered trademarks in the United States alone (Sarin). With such heavy competition, it is vital that ones company does everything possible to differentiate themselves. Building a strong brand is a great method of doing so. Obtaining a recognizable brand backed with a positive brand image make purchaser’s decisions much easier. It allows an abundant amount of information to be provided to the customer or business representative before any form of research (Robert Vitale).
As much as bundling information for purchaser’s to make easier decisions assists businesses increase their sales, it also prevents the consumer or business representative from purchasing the wrong good. Active marketers aim to succeed at two different points of a sale: 1- properly market their product/service to be initially bought, 2- have the person or company be satisfied with the value purchased (Robert Vitale). After the second point, it is likely that the company has just gained a repeat, loyal customer. If an individual/company finds a good/service that meets
Bibliography: John Daniels, L. R. International Business Environments and Operations. Pearson. Maruca, R. F. The Way We Work An Encyclopedia of Business Culture. Philip Kotler, W. P. B2B Brand Management. Springer. Robert Vitale, J. G. Business to Busines Marketing Analysis and Practice. Pearson. Sarin, S. Strategic Brand Management for B2B Markets A Road Map for Organizational Transformation. Response Business Books from SAGE.