Question

Explain the advantages of branding to marketers of goods and services.

Answer 1

SOLUTION :

The advantages of branding to marketers of goods and services are :  

(i) ENABLES PRODUCT DIFFERENTIATION :  

Branding helps a firm to distinguish its product from the other competing products available in the market.

 

(ii) HELPS IN ADVERTISING AND DISPLAY PROGRAMMES :  

Without a brand, the advertiser cannot promote and create awareness for and sale his product.

 

(iii) DIFFERENTIAL PRICING :  

By building brand acceptance and brand loyalty, a firm can change a different price for its product from that of its competitors.

 

(iv) EASE IN PRODUCTION OF NEW PRODUCT :  

If a new product is introduced under an established brand name , it is likely to be accepted easily and get a quick start.

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Answer 2

Answer⏬

i) Brand name helps in advertising in an easier way.

i) Brand name helps in advertising in an easier way.(ii) Brand name establishes the permanent identity of the product.

i) Brand name helps in advertising in an easier way.(ii) Brand name establishes the permanent identity of the product.(iii) Brand name promotes repurchasing.

i) Brand name helps in advertising in an easier way.(ii) Brand name establishes the permanent identity of the product.(iii) Brand name promotes repurchasing.(iv) Competition becomes easier with the help of brand loyalty

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