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ProductBranding

Product is the most important 鈥楶鈥 of the marketing mix. All products go through a life cycle of development, introduction, growth, maturity and decline. Branding is used to make a product stand out from its rivals.

Part of Business managementManagement of marketing

Branding

Branding

A business will brand its products so that those products have a strong identity. This makes the product more recognisable to customers and making it stand out from competitors.

Well known products often have memorable .

Branding uses and promotes logos, slogans and unique design. The image of the brand is all important and this image is created through advertising. Brands cost a lot of money to build up.

Branding is often associated with delivering a high quality product. This can relate to premium or in some cases luxury items. For example Rolls Royce or Gucci are brands that are presented as luxurious and therefore expensive to buy.

Branding can also be used to promote cheaper products or budget services. A customer paying for an inexpensive hotel room will still expect a certain level of comfort and cleanliness from a trusted budget brand but won鈥檛 expect the same level of service or comfort found in a branded luxury hotel.

AdvantagesDisadvantages
Customer loyaltyHigh advertising costs
Good imageOne mistake can tarnish brand reputation
Premium pricingLoyalty can be fickle
Can add to family of products
AdvantagesCustomer loyalty
DisadvantagesHigh advertising costs
AdvantagesGood image
DisadvantagesOne mistake can tarnish brand reputation
AdvantagesPremium pricing
DisadvantagesLoyalty can be fickle
AdvantagesCan add to family of products
Disadvantages