Asf - Branding decisions
14 important questions on Asf - Branding decisions
Mention four functions of branding:
- To distinguish a company's offering and differentiate one particular product from its competitors
- to create identification and brand awareness
- to guarantee a certain level of quality and satisfaction
- to help with promotion of the product
Mention the nine different branding alternatives
- No brand
- branding
- private label
- co-branding, ingredient branding
- manufacturer's own brand
- single market, single brand
- single market, multiple brands
- multiple markets, local brands
- multiple markets, global brand
What is a privat label?
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Two advantages of privat label
- Possibility of larger market share
- no promotional problems
Two disadvantages of privat label
- Servere price competition
- lack of market identity
What is the definition of ingredient branding?
Mention four advantages of co-branding/ingredient branding
- Adds more value to the brand
- sharing of production and promotion costs
- increases manufacturer's power in gainging acess to retailers' shelves
- can develop into long-lasting relationships based on mutual commitment
Mention three disadvantages of co-branding/ingredient branding
- Consumers may become confused
- ingredient supplier is very dependent on the success of the final product
- promotion cost for ingredient supplier
Mention four advantages of single market, single brand
- Marketing efficiency
- permits more focused marketing
- eliminates brand confusion
- good for product with good reputation (halo effect)
Mention three disadvantages of single market, single brand
- Assumes market homogeneity
- existing brand's image harmed when trading up/down
- limited shelf space
Mention four advantages of Multiple markets, local brands
- Meaningful names
- local identification
- avoidance of taxation on international brand
- allows variation of quantity and quality across markets
Mention four disadvantages of Multiple markets, local brands
- Higher marketing cost
- higher inventory cost
- loss of economies of scale
- diffused image
Mention seven advantages of multiple markets, global brands
- Maximum marketing efficiency
- reduction of advertising costs
- elimination of brand confusion
- good for culture-free product
- good for prestigious product
- easy identification/recognition for international travelers
- uniform worldwide image
Mention six disadvantages of multiple markets, global brand
- Assumes market homogeneity
- problems with black and grey markets
- possibility of negative connotation
- requires quality and quantity consistency
- LDCs opposition and resentment
- legal complications
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
