Brand plays an important role as an inseparable part of the product of a business firm. Some firms invest a lot of money in the brand of their products. Brand helps to promote product, to build image, personality and to develop brand loyalty.
The main objectives of branding product are as follows:
The main objectives of branding product are as follows:
1. To differentiate a firm's product
Brand helps to differentiate firm's products from competitors' products. This makes customers feel easy to recognize products of genuine producers.
2. To assist in promotion
The other objective of branding is to help in conducting promotional activities. The activities such as advertisement, personal selling, publicity, sales promotion etc. are conducted with brand name.
3. To increase prestige and status
Branding helps to increase prestige, personality and status of producers, distributors, customers etc.
4. To maintain product quality
One of the main objectives of branding is to pay attention to maintain quality of the products in order to sell and distribute the products with brand name. The firms, which cannot maintain quality of their products, do not want to use brand name.
5. To increase brand loyalty
The other objective of branding is to increase customer' loyalty to brand or branded product. The customers can buy only the branded products repeatedly.
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6. To legally protect the firm
The other objective of branding a product is to protect the business firm from any legal obstacles and get legal recognition and protection.
7. To build values for customers
To build consumer value and benefit of the products or value building of products is the other objective of branding. A marketing manager should concentrate his efforts on promoting special quality and advantage of the products of certain brand name. This also should promote the value of the products to the consumers.
