Concepts on Branding, Labeling, Packaging and Pricing.
MARKETING MANAGEMENT
5. Branding, Labeling, Packaging & Pricing
Brand
What is a Brand? A Brand is a name, term, symbol
or design to identify the goods or services and to differentiate them from those of the competitors. Effect – A Brand identifies the product for the buyer. A seller can earn the goodwill and have the patronage repeated.
Brand – A name, term, sign, symbol or design
or a combination of them which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
Brand Name – That part of a brand which can be
vocalized/utter able. Eg- FIAT car, SONY TV, BATA Shoe etc.
Brand Name
When a manufacturer wants to introduce a new
product to the market, he wants to identify his product rather with a striking name – Brand Name. Net effect is -The buyers identify the product and differentiate it from those of competitors. The basic purpose of Brand Name is to fix the identity of the producer of a given product. Brand Name is a brand or part of a brand consisting of a word, letter, group of words or letters comprising a name which is intended to identify the goods or services of a seller or a group of sellers and to differentiate them from those of competitors. It is nothing but a combination of letters, words or numbers. Eg – Tata, Godrej, 555, 501 Soaps etc.
Branding
Branding is the process of giving a specified
name to a product or a group of products of one seller.
In other words naming a product, like naming a baby
is known as branding. Parents have children and manufacturers too have children i.e. products. As parents, manufacturers are eager to know the character & capacity of their products on their birth, but not their names. Thus Branding is a management process by which a product is named i.e. Branded.
Reasons for Branding
An instrument for sales promotion in the market,
where stiff competition exists.
5. Branding, Labeling, Packaging & Pricing
Brand
What is a Brand? A Brand is a name, term, symbol
or design to identify the goods or services and to differentiate them from those of the competitors. Effect – A Brand identifies the product for the buyer. A seller can earn the goodwill and have the patronage repeated.
Brand – A name, term, sign, symbol or design
or a combination of them which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
Brand Name – That part of a brand which can be
vocalized/utter able. Eg- FIAT car, SONY TV, BATA Shoe etc.
Brand Name
When a manufacturer wants to introduce a new
product to the market, he wants to identify his product rather with a striking name – Brand Name. Net effect is -The buyers identify the product and differentiate it from those of competitors. The basic purpose of Brand Name is to fix the identity of the producer of a given product. Brand Name is a brand or part of a brand consisting of a word, letter, group of words or letters comprising a name which is intended to identify the goods or services of a seller or a group of sellers and to differentiate them from those of competitors. It is nothing but a combination of letters, words or numbers. Eg – Tata, Godrej, 555, 501 Soaps etc.
Branding
Branding is the process of giving a specified
name to a product or a group of products of one seller.
In other words naming a product, like naming a baby
is known as branding. Parents have children and manufacturers too have children i.e. products. As parents, manufacturers are eager to know the character & capacity of their products on their birth, but not their names. Thus Branding is a management process by which a product is named i.e. Branded.
Reasons for Branding
An instrument for sales promotion in the market,
where stiff competition exists.