Strategic Benefits of Branding

Branding
Knowledge Center

Forum

New Topic

Marten van der Zee
Analyst, Netherlands

Strategic Benefits of Branding

One of the major questions regarding establishing a proper branding strategy is: First, should we establish our own brand names or should we engage exclusively in reseller brands (private labels or own label brands? This question is highly important for medium-sized companies, because they sometimes prefer to sell their products without their own brand due to limited resources and specialized knowledge. However, there are considerable benefits to having your own brand:
  1. RECOGNITION, CREDIBILITY, CONFIDENCE at customers
  2. CONSISTENCY of brand name
  3. LOYALTY: Branding gives company an opportunity to increase customer loyalty and profitability.
  4. IMAGE: Strong brands increase corporate image, thus easier to launch new brands and obtain more acceptance by distributors and consumers.
  5. BRAND EQUITY
  6. SEGMENTATION: Branding helps the company to segment markets.
  7. LEGAL: Brand name and logo of the company provide legal protection of unique product features, which the competition seeks to copy.
  8. TALENT ACQUISITION: Attract talented people to join workforce.
Do any other strategic benefits of branding exist?

Kotler, P. (2003) Marketing Management: Analysis, Planning Implementation and Control. 11th edition. Englewood Cliffs, NJ: Prentice Hall.

Start a new forum topic

 

More on Branding
Summary
Forum
Audio B: a Sound Solution?
🔥Employer B
What is a Power Brand?
Building a Global Brand from an Emerging Country
The COBRA Approach to B
What is Sub-B? 3 Types of Sub-brands
Advantages and Cautions of Brand Extensions
Luxury B and Inconspicuous Consumption
Criteria for Brand Name Success
Strategic Benefits of Branding
B Quotes
What is the Importance of Industrial B | B2B B?
Best Practices
What is a Brand? Definition of a Brand
Creating versus Modifying a Brand
Special Interest Group

Do you have a keen interest in Branding? Become our SIG Leader

Branding
Knowledge Center



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2021 12manage - The Executive Fast Track. V15.8 - Last updated: 1-8-2021. All names of their owners.