Branding

Branding is a practice of giving a specified name to a product or group of products of one seller. It is a process of finding & fixing the means of Identification. In other words, we can say naming the product is known as BRANDING.

It can be in terms of sign, symbol or a combination of these. It is necessary for identifying the goods of one seller or group of sellers & differentiates them from those of competitors.

Purpose of Branding

Brand is a massive asset & promotional tool.
It is weapon to protect it from its competitors.
It is an antidote for middle man survival.
Finally brand is a means of identification for customers.

3C of Branding.

Clarity

Strong brands are clear about what they are and what they are not. They understand their promise and set them apart from their competitors. It also allows them to attract and build loyalty among a desirable set of consumers.

Consistency

In addition to being clear about who they are, strong brands are also consistence. They are always what they say they are.

Constancy

It is not enough to be clear and consistent if you are not always visible your target, strong brands are constant: they are there for their customers and prospects.

Advantage of Branding

Advantage to Producer:

Easy to advertise, identify the products, to expand the product mix, creation of separate market and to increase the value of the good.

Advantage to Middle Man

Easy to recognize, availability of quality product, minimum fluctuation of price and mental satisfaction.

Advantage to Consumer

Easy to understand needs & wants of consumers, lesser risk, no need of advertisement and sales promotion, increase in sales & profit.