Branding Process:
Branding is done normally in the following way. A brand name is selected. It then becomes a part of the product. Whenever it is put in the market, it carries the said name. In course of time, the impression spreads. The branded product is generally marketed independently. If a new name has been adopted, it has to be followed by intense advertising and promotional efforts to develop consumer awareness and acceptance. Thus branding has almost the same effect as monopoly in marketing.
Branding Objectives:
The main aim of branding is to build an image about the product which is associated with the brand. A powerful brand name is said to have consumer franchise. This is evidenced when a sufficient number of customers demand that brand and refuse a substitute even if the price is somewhat lower. Distributors want brand names as a means of making the product easier to handle, identifying supplies and increasing buyer preference. Customers want brand names to help them identify quality differences and shop more efficiently.
Types of brand name:
(a)
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Company name
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Glaxo
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(b)
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Coined name
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Krackjack
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(c)
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Dictionary word
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True biscuits
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(d)
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Descriptive name
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Ponds face powder
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(e)
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Geographical
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Bombay Dyeing
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(f)
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Historical names
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– Taj mahal Tea
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(g)
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Personal name
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– Tata
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(h)
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Suggestive name
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Quick fix
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