Many companies, especially the FMCG companies, are known by their various brands. Hence it is important to maintain a favourable brand image in the minds of the consumers. Brand management focuses on the techniques that help in maintaining or improving the perceived image of the brand in the minds of the consumers. There are good institutes in India offering brand management courses to those who are interested and talented.
Branding is not only beneficial to the seller, but also to the buyer. Following are some of the ways it benefits the company:
1. Recognition
A strong brand name and image facilitate recognition. Even though branding and advertising have different functions, the presence of a strong brand image assists in advertising of the product(s) under the brand. Branding also builds loyalty. For instance, if a person is fond of eating noodles of a particular brand, he would always ask the shopkeeper for the same brand of noodles every time.
2. Symbol of quality
A well-known brand is often associated with good quality. These days consumers have so many choices. But when asked to choose between a branded and an unbranded product, they often go for the branded one. This is because they have more faith in the branded products.
3. Launch of new products
The presence of a strong brand makes it easier for the company to launch more products under the same name. For instance, a company having a strong make-up brand can make use of it by launching a distinct product line under the same brand name. Consumers loyal to the original brand would be more inclined to buy the new products.
A catchy brand name that also gives a hint about the type of product or its functions usually appeals more to the consumers. Branding is an extremely crucial function that may also determine if the products are successfully sold or not. Hence it must be done very carefully.
Branding is not only beneficial to the seller, but also to the buyer. Following are some of the ways it benefits the company:
1. Recognition
A strong brand name and image facilitate recognition. Even though branding and advertising have different functions, the presence of a strong brand image assists in advertising of the product(s) under the brand. Branding also builds loyalty. For instance, if a person is fond of eating noodles of a particular brand, he would always ask the shopkeeper for the same brand of noodles every time.
2. Symbol of quality
A well-known brand is often associated with good quality. These days consumers have so many choices. But when asked to choose between a branded and an unbranded product, they often go for the branded one. This is because they have more faith in the branded products.
3. Launch of new products
The presence of a strong brand makes it easier for the company to launch more products under the same name. For instance, a company having a strong make-up brand can make use of it by launching a distinct product line under the same brand name. Consumers loyal to the original brand would be more inclined to buy the new products.
A catchy brand name that also gives a hint about the type of product or its functions usually appeals more to the consumers. Branding is an extremely crucial function that may also determine if the products are successfully sold or not. Hence it must be done very carefully.
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