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Description
Flashcards by nataliecochrane., updated more than 1 year ago
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Created by nataliecochrane.
over 10 years ago
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| Question | Answer |
| Describe branding. | Branding is a name, symbol or logo given to a businesses range of products to identify them e.g Irn bru. |
| Discuss the advantages of branding. | Can charge a higher price for products. Can gain customer loyalty. Can save money on marketing. Easier to launch new products onto the market. Can be seen as a guarantee of high quality. |
| Discuss the disadvantages of branding. | - Can be expensive to advertise, to keep a high profile in the market. - A scandal may affect the whole brand. - Brands can easily be copied/faked. |
| Discuss own branding. | - Don't need as much advertising. - Less expensive than branded products. - Can target different market segments to branding. - May be seen as lower quality. - May have a bad stigma. |
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