Name : GUNJAN CHAKRABORTY PGDRM ROLL 7 TOPIC : TO BRAND OR NOT TO BRAND

To brand or not to brand

Brand is the name term sign symbol design logo given to a product for the purpose of distinguishing it from other competitors product and creating an image of the product and company for ensuring loyalty about a product and its brand among the customers. The purpose of branding is to establish a meaningful ,. Differentiated presence that will increase an organisations ability to attract and retain loyal customers and improve their market share. While an unbranded product is not remembered by the consumers . unbranded products may fail to satisfy the customers as because a branded product is always having a certain level of quality ensurer The major advantages of branding includes: I. II. III. IV. V. It gives distinctive ness to the poroduct It helps in advertising the product It helps to create brand loyalty to a particular product It helps in price differentiation of the product It helps in securing repeated sales, building image and increasing goodwill of the firm in the market

Importance or significance of branding branding gained importance in marketing because it offered advantages to both producer and consumer. Generates buyer loyalty: brand helps the producersw to generate buyer loyalty. Loyal customers buy the branded poroducts repeatedly because of assurance of good quality products of reputed brands. Thus, seller saves time and efforts in selling. II. Makes shopping easier: brand helps the customer by making their shopping easier because they do nbot have to evaluate the product again and again. They have developed an understanding as to which brand to buy and which not. Elements involved in good brand Short and simple Easily pronounceable Suggestive Distinctive Universal meaning I.

brands like starbucks coffee , Harley Davidson, lux, kelloggs and horlicks have a strong loyal consumer base.

Disadvantages of branding are also there despite of having several advantages I. II. III. IV. V. VI. Greater confusions Creates irrationality Detoriation of quality Increase in price Discourages from trying other products Commands premium

When we compare the advantages and the disadvantages of branding we find advantages are more powerful. Branding benefits the society as a whole It helps the manufacturers, middlemen and the consumers.that is why the use pf branding increasing day by day. More than 95% of products and services which we consume in our daily life branded. Branding ensures quality at responsible price. Brand provides a mental satisfaction to the consumers and saves their valuable time and money. Thus, use of brand is desirable. Some oppose the use of brand that use of brand encourages monopoly, it exploits the consumer and it makes the consumer irrational in making their selection.

Thus, we find both the arguments some logical meaning. it is true that there are some disadvantages but this disadvantage is very minimal in front of its valuable advantages. So branding is very necessary for producers as well as the consumers to ensure better value towards society.