Branding

What is a brand?

A product that is easily distinguished from other products so that it can be easily communicated and effectively marketed.

What are the benefits of having a strong brand?

• Brand recognition - they will be recognised.

• Differentiates them and makes them stand out e.g. through logo colours/design.

• Higher market share.

• Encourages customer loyalty.

What can businesses due to having a strong brand?

They can develop a brand personality and image that people can relate to.

What do consumers have?

Consumers have a perception of what to expect from a particular brand e.g. quality, satisfaction.

What is important about a brand?

A brand is a trademark that cannot be copied.

What can brands be?

• Name

• Shape

• Symbol

• Colour

• Logo

What is a competitive advantage?

A feature of a business that allows it to perform more successfully than others in a market.

What can branding do to a product?

Branding can add value to a product, allowing firms to charge higher prices and also leads to brand loyalty.

What is brand extension?

• adding new product ranges to a recognised brand name.

• consumers familiar with or loyal to the brand are more likely to be willing to try new products.

What is brand value?

Brand name itself adds value to the product.

It’s therefore said to have a money value and less has to be spent on advertising the brand once established.

Why is a budget for a campaign important for a business?

Must be cost-efficient for the business.

If they spend too much, they may not have enough to spend on actual operations. Larger budget may lead to a more successful campaign.

Why is it useful to have specialist staff?

Allows for staff to be confident in what they are doing and therefore make more beneficial contributions to the campaign.

Why is the size of a business important for a campaign?

Larger businesses have existing brand recognition, meaning their marketing campaigns may be even more effective and memorable.

What does having a USP allow for?

Having a USP allows the business to reach different audiences and stand out from competitors.

What are internal influences?

• Cost of campaign.

• Expertise of staff.

• Size and culture of business.

What are external influences of a campaign?

PESTLE

political, economic, social, technological, legal and environmental.

What is important about the cost of the campaign? (internal)

Can cost as much or as little as you want.

Each business should have a budget. This will influence the marketing activities.