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The Rise of Branding - Essay Example

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This essay "The Rise of Branding" focuses on the rise of branding in recent years and the benefits and disadvantages of using branding. Branding has gained increasing importance in the past several decades as organizations have created magnified brand images and identities.  …
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The Rise of Branding
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Download file to see previous pages A brand is much more than a product or even a tangible symbol, it could even have aspects of intangible feelings, emotions and cognitions associated with it. For example, consumers are able to identify brand apple mac when they see the distinct apple logo or when they hear the popular jingle used in its ads.
Branding has gained increasing importance in the past several decades as organizations and marketers have created magnified brand images and identities – and it is these images or associations that consumers actually buy (Aaker (1991 ). For example, the brand Pepsi projects the product as a fun and youthful drink for the young fun-loving carefree generation. While there may little or no difference in the taste or the packaging of Pepsi from other coke sellers, it is this image that gets its customers.
Branding also leads to an enhanced the value of the company or the product. The value proffered by the brand name goes much beyond the intrinsic value in terms of assets, resources or knowledge held by the organization (Klein, 2000). An example of this heightened value of the company and its products can be seen in the sale of Krafts Food Inc. in the year 1988 when the company was sold for six times more its net-worth (Klein, 2000). This exorbitant price was only possible as Krafts Food Inc. was a well-known brand that spelled quality and reliability for the consumers.
Brands have been a part of the marketing plan for almost as long as marketing and sales have been. This is because, even in ancient times, people, regions, and their products were associated with certain characteristics – for example, the Romans were known for their ability to administrate and the Indians for their mysticism. The brands get associated with the entity – be it a product or place or a person – and it is used to identify similar attributes. ...Download file to see next pages Read More
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