Objectives of Branding

Objectives of branding:

• Consumer-related objectives of branding:

·         Product identification: brand help consumers to identify products. Brands guide them in making product choice

·         Quality assurance: branded goods assure quality.

·         Prestige and status: brands provide prestige and status. Customers satisfy their esteem needs by purchasing branded products

• Organization-related objectives of branding

·         Promotion: promotion activities are built around brands. Brands identify products. Advertising campaigns and sales promotion schemes are brand oriented. Promotion of one product indirectly helps promotion of other products under the same brand.

·         Brand loyalty: brands promote brand loyalty among customers. Organization achieve stable market share. Brands provide protection from competition

·         Product positioning: branding is needed for product positioning. Product differentiation is based on brands. Competitive advantages of the product can be easily communicated to the market through brands.

·         Product mix expansion: organization can expand its product lines and product items through branding. Buyers prefer to buy products under established brand names

·         Efficiency in marketing: branding makes marketing efficient

·         Image enhancements: brands enhance the image and prestige of organization.

·         Legal protection: legally registered brands provide legal protection. They can be sold, leased or rented to other organizations

• Society related objectives of branding:

·         Event promotion: established brands sponsor social and cultural events. This fulfills the objective of society to stage the events

·         Consumer welfare: brands protect consumer rights. Damages can be claimed in the courts of law of branded products are faulty, hazardous, or provide misinformation