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Branding - Essay Example

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Branding is an act of product marketing that entails creating a unique image, name, and reputation for a product to win consumer’s mind and loyalty through marketing techniques such a product advertising campaigns (Aronczyk and Devon 72). The main aim of product branding is to…
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PRODUCT BRANDING What definition of branding makes most sense to you? Branding is an act of product marketing that entails creating a unique image, name, and reputation for a product to win consumer’s mind and loyalty through marketing techniques such a product advertising campaigns (Aronczyk and Devon 72). The main aim of product branding is to establish a differentiated and significance presence in the target market. The marketers use a consistent theme when doing product branding to achieve consumer loyalty and trust in the product. A brand on the other hand is the image or idea about a specific service/product that consumers associate with through name, slogan, design, or logo representing the company. In fairly competitive product/service market, product branding is an essential marketing tool for building consumer trust and loyalty on a product (Aronczyk and Devon 75).
Effectiveness of branding in a price competitive market
The concept of branding would is a marketing principle that is used by companies both in the product and price competitive industry. However, depending on the nature of competition in the market place, the effectiveness of branding is determined by either price or commodity nature of competition. In a price-competitive market economy, product branding is rendered ineffective since it is cost-ineffective. This is because consumers are price elastic, therefore, they are more sensitive to price differential property that to building image and brand loyalty. This implies that in a price competitive market, unlike product competitive market, consumers’ purchasing parity and choices are highly influenced by their ability to buy and hence product insensitive (Aronczyk and Devon 56). Advertising or any product promotional methods aimed at winning consumer’s trust and building product image among the consumers is uneconomical in a price competitive market but effective in a commodity competitive market.
Work Cited
Aronczyk, Melissa, and Devon Powers. Blowing Up the Brand: Critical Perspectives on Promotional Culture. New York: P. Lang, 2010. Print. Read More
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