Branding Flashcards
1
Q
What is Branding?
A
A brand logo, name or symbol that is given to a product that makes it instantly recognisable.
2
Q
Advantages of Branding
A
Easily identified
High prices can be charged
Customer loyalty
Easy to launch new products
Associated with high quality
3
Q
Disadvantages of Branding
A
Fakes are often made
One faulty product means whole brand is tarnished
Creating a brand is expensive and time consuming
4
Q
Explain the benefits of branding
A
Brands are perceived to be be of a higher quality. This means you can charge higher prices.
Brands are instantly recognisable to customers. This means they are more likely to pick up your product over your competitors.
5
Q
What is a Own Brand?
A
Products which are sold under the name of a supermarket or other retailer.
