BRAND STRATEGYAuthors:Ian MusyaCaroline MellyPhilip KeterLaban Bore

BRANDINGBranding is what makes people choose one company over another. Even when the products they offer are identical.

Brands make us feel something. We become attached to brands because of the way they make us feel. Whether that's how they make us feel about ourselves, or the impression they give of us to other people.

IMPORTANCE OF BRANDING• Branding can help increase firm’s sales. Due to consumer loyalty, an increase in price of the product will not decrease demand.• Branding builds confidence and trust in your product - If you do experience a one-off issue with a product or service, your customers would be more likely to understand, if your brand ethos proves that you’ll do what it takes to resolve the problem.• Branding also develops the uniqueness of your product.

WHAT IS IT?Brand strategy is a long term plan for the development of a successful brand in order to achieve a specific goal.

BRAND STRATEGY

Private brand - A brand name owned by a wholesaler or a retailer. Also known as a private label or store brand.

Captive - A brand manufactured by a third party for an exclusive retailer, without evidence of a that retailer’s affiliation.

Private brand - A brand name owned by a wholesaler or a retailer. Also known as a private label or store brand.

Manufacturers’ brand - The brand name of a manufacturer.

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