Branding
According to the Heinemann AVCE in Business, 'brand is a particular product or characteristic that identifies a particular producer'. Branding is one of the common methods of differentiating the product from competitor products in the marketplace.
Business organisations will use branding to build up brand loyalty. Brand loyalty is where consumers are satisfied with their purchase of a specific product, and will likely to return to purchase it again in the coming future.
Branding is often classified into three categories: manufacturer brands, own-label brands, and generic brands. Manufacturer brands are brands which relate the producer with the specific product. Examples of manufacturer brands include Kellogg's cornflakes, Nescafe coffee and Heinz baked beans. Producers will be heavily involved with the promotion of these products.
According to the Heinemann AVCE in Business, 'brand is a particular product or characteristic that identifies a particular producer'. Branding is one of the common methods of differentiating the product from competitor products in the marketplace.
Business organisations will use branding to build up brand loyalty. Brand loyalty is where consumers are satisfied with their purchase of a specific product, and will likely to return to purchase it again in the coming future.
Branding is often classified into three categories: manufacturer brands, own-label brands, and generic brands. Manufacturer brands are brands which relate the producer with the specific product. Examples of manufacturer brands include Kellogg's cornflakes, Nescafe coffee and Heinz baked beans. Producers will be heavily involved with the promotion of these products.
