branding

Question 1

a brand

Answer 1

-represents the characteristics and personality of a business
-not simply just a logo or slogan

Question 2

ways to build a brand

Answer 2

-developing reputation
-exploiting a USP
-advertising
-sponsership
-using social media

Question 3

importance of branding

Answer 3

-adds value to the product
-allows a premium price to be charged
-builds trust
-helps a business to position itself in the market relative to its competitors
-makes a product recognisable
-brands can be traded

Question 4

types of brand

Answer 4

1. manufacturer’s brands- eg kellogg’s corn flakes
2. own-label brands- brands associated with a retailer. eg. sainsbury’s crisps
   3.generic brands- do not have a particular brand association but simply use the name of the product eg. carrots

Question 5

social trends

Answer 5

-business should maximise social trends to build their brands
1. using social media- attracting followers to social media sities is akey marketing spending
2. viral marketing- growth of social media and sharing of images and videos= huge way for business to build brand awareness
3. emotional branding- associate their brands with things