1.3.2

Cards (13)

types of branding  
product
service
umbrella
corporate
global
geographical
personal
product branding
brands associated with specific products
umbrella branding 
brands which are assigned to more than one product
makes product lines easily identifiable to the customer by grouping them under one brand
service branding  
brands that add percieved value of services, either delivered face to face or via online apps
corporate branding  
promoting the brand name of a corporate entity, supposed to a specific product or service
global brand  
the ultimate brands operatinig world wide
benefits of branding  
adds value
able to charge higher prices
builds customer loyalty
demand is more price elastic
ways to build a brand
USP
advertising
sponsorship
use of social media
promotion  
the component of the marketing mix that informs and persuades customers about the product in order to sell that product
branding  
creation of identity
distinguish product from competition
main aims of promotion  
to ensure that customers are aware of the products existance
to persuade customers the product is better than competitors products
to remind customers why they should buy
elememts of the promotional mix  
advertising
sponsorship
sales promotion
personal selling
public relations
direct marketing
merchandising
why use promotion? 
increase sales
encourages custoemr loyalty
launch new products
creates brand awareness