Branding

• A brand promise is the businesses commitment to their customers
• Branding is a promotional method that involves the creation of an identity for the business that distinguishes that firm and its products from other firms
• Branding can add value to a product allowing firms to charge higher prices and ultimately leads to brand loyalty whereby customers will continue to buy products from that firm
• To create an identity many businesses will have a logo, tag line and brand promises
• Benefits of branding

  • increased demand
  • increased price
  • reduced competition
  • protection against downturns