943534
Description
Mind Map by cardiffwynne2, updated more than 1 year ago
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Created by cardiffwynne2
almost 11 years ago
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Branding
- Name, Slogan, Logo which identifies a seller and/or product
- Why Use Branding? (Advantages)
- Increased Loyalty
- Differentiates Product
from Competitors
- Increase Asset Value
- Makes Consumer Choice Easier
- Increase the Inelasticity
of Demand
- Increased Loyalty
- Disadvantages
- High cost of advertising
- A loss of brand value for
one product can affect
your whole range
- Brands attract
competition, making
copies of similar product
- High R+D costs as you
have to sustain the
brand
- High cost of advertising
- How To Protect Brands:
- Offer Value to Customers
- Advertise and promote
- Market Research
- Develop Brand Further,
But remember it's original
purpose and why it
became a brand
- React to competition to protect the brand
- Offer Value to Customers
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