PRODUCT BRANDING

JINI P JMBAIMT(THRISSUR)

DEFINITION

Product branding is the act of putting a trademark or copyright on a product offered by a business. This prevents the product from being sold by other manufacturers under the same name.

Branding is the use of a name, term, symbol or design to give a product a unique identity in the marketplace. Marketers have three major strategic options: manufacturer branding vs. private labels; individual branding vs. family brands; and co-branding.

Product branding strategies

Objectives of the product branding

• Identify the various charactorstics of the product.

• Learn how companies build and manage product line and mixes.

• Understand how companies make better brand decisions.

• Comprehend how packaging and labeling can be used as marketing tools.

ADVANTAGES & DISADVANTAGES OF PRODUCT BRANDING

ADVANTAGES

• High profit margin

• Long term emphasize

• Quality product

DIS ADVANTAGES

• Costly and expensive

• Burden of responsibilities

• Chances of brand failure

PRICIPLES OF PRODUCT BRANDING

Simplicity

Consistency

Distinctiveness

Creativity

Simplicity

A detailed 10-page report on your product's advantages doesn't help brand it. Branding has to be simple. Otherwise it is difficult to the customers to get an awaireness about the company and its products. So it is an important principle of product branding.

Consistency

Branding needs consistency . Even your product's concept and qualities should stay consistent over time, so that consumers don't start feeling the brand's changing.

Distinctiveness

our goal in creating a brand is to make consumers think of your product instead of the other guy's. Successful brands stand out: Nobody confuses a well-branded product with anything else.

Creativity

You can have the best product without having the best brand. Being the best is great, but a colorful, imaginative symbol or catchphrase can hook customers even if your product is unremarkable.

How to Increase Brand Awareness for a Product

How to Increase Brand Awareness for a Product:

• Advertise on radio and television.

• Promote your brand and product on popular Internet websites.

• Have your brand displayed prominently on your product.

• Sell your products on eye-level shelves of popular stores.

• Rent billboard space along major highways.