Evaluating The Significance Of Branding To Effective Marketing
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INTRODUCTION TO THE STUDY
1.0 INTRODUCTION TO THE STUDY
A brand is a name, word, make term, letter, device or some combination that is used by manufacturer or some combination that is used by merchants to identify their goods and services and to distinguish them from those of competitions.
Branding plays a vital role in product quality that it’s important cannot be over emphasized.
A product without branding or means of identification or means of differentiating it from that of its competitive production has very little or no stand in a competitive market.
The first decision is whether a company or its deals should even put a brand name on specific products, producers and middle men sold cases without any supplier identification.
The earliest signs of branding were in the efforts of medical guides to require craftsman to put trademark of their craftsman to protect the consumer against inferior quality by allowing producer to be traced
In the United States, the earliest brand promotes were the patient medicine manufacturers growth in branding occurred after the civil war with the growth of national firms and national advertising medical.
Some of the early brands are still with us. Such as “Broden’s condemned milk, quaker oats, Vaseline and worry soap.
Interest in branding has been so dramatic that today in the united state, hardly anything is sole branded salt is packaged indisfunctive manufactures contained oranges are stamped with growers name, common nuts and bolts are packages cellelopiance with a distributors labels and various parts of automobile a spark plugs, tyres, filters carry visible brand name different from the names of automobile. Ever chickens hell recently been branded successfully.
1.1 BACKGROUND OF THE STUDY
Therefore companies brand names should not be treated lightly but as an integral re – enforcement of the product concept, it is the duties of the companies to build a unique brand name that will eventually become identified with the generic product.
It is worth recognizing at this stage that many companies fail because they do not brand their product to differentiate them from the others sometimes the pressure for branding came out from the distribution or ultimate buyers or consumer.
Distributor may want brand name as means of marking the product easier to handle identifying suppliers, holding production to contain quality standard and increasing buyers preference.
Ultimate buyer want brand names to help them identify the product they want.
The brand names to help them identify the product they want.
The brand name has informational value to buy without it they could not have shop in modern supermarket with a whole lot of different product.
Through product differentiation and branding seller develop a customer by loyally some companies organized their operation around the various brand. For example P.2. Industries Lever Brothers Nigeria Limited and A.J. Steward have separate divisions organized for products.
As individual manage is place in change of each products or brand.
The national behind brand and product management is that, it is desirable to have a single person coordinating the planning and strategy for a product, rather than having numerous individual managers, the various marketing activities for many products under a brand manage system, there is a tendency for each brand manager to fail to see the total picture and demand more company resources than his or her product should receive still the brand management method of organization retains the major advantages of designating a specific individual as being responsible for coordinating the total marketing strategy for a product.
This selection of brand is not a casual process. Names convey images that can help or hunt a product.
Benson, white London, brown London, sm. Rothmans, convey executing and favorable images.
The desirable qualities of brand name include.
a. To avoid infringement and to provide a distinctive identification of product, such as “benson”
b. Suggestion of benefit so as to increase the products appeal such as “Rothmans”
c. Easy to pronounce, spell recognize and remember to aid repeat purchases such as SM. While London benson, etc.
d. Suggestive of desirable product qualities such as aspen, marlboro, Rothmans
Being destructive is especially important in naming a completely products, because the brand name may become almost synonymous with the generic title of the product.
A good brand name meets two important requirement
a. Maximum promotability
b. Minimum risk or loss of ownership right
1.2 STATEMENT OF PROBLEMS OF THE STUDY
Branding is the practice of identifying a product or line of products by a special name or symbol to organization corporate image.
To highlight the problems faced by organization in the choice of brand.
It may be costly for dealer to develop the demand for the brand
Distributors assumed the risk and cost of carrying inventory because they are usually required to buy in large quantities.
To discovers whether distributor brand will often compete directly with a manufacturer brand
To explain buyer good – will to a product is describe to the distributor, and buyer loyally to the distributor, not to the manufacturer
To suggest something about the products characteristics or benefit
Purchased as a result of deceptive brand identified and them corrected so that he could make a repeat purchases?
1.3 AIMS AND OBJECTIVES OF THE STUDY
The aim of this study is to evaluate the significance of branding to effective marketing.
To assist buyers in the identification of specific products they like or do not like.
To facilitate the purchases of items that satisfy individual needs.
To and buyers in evaluating the quality of products because brand symbolizers a certain quality level to a purchaser.
To brand psychological rewards to the buyer of the branded product line a brand may have a considerable status associated with it
Secondly, to know the extent to which brand as a promotional strategy has really helloed, the manufacturer and the middle man in marketing their product.
Thirdly, this study will afford manufacturer the economic justification for branding product, Also the different methods that can be sued to distinguished a product from another will be enlighten on why consumers are loyal to specific product and not other.
Finally, the aims and objectives of the study lead to a source acknowledge for students who are studying business are in particular marketing to why companies brand their product.
It will also be of great assistance to potential manufacturers in future.
This is because branding can make the difference between success and failure of profit and loss of the organization.
1.4 SIGNIFICANCE OF THE STUDY
By branding the product, a procedure or distribution topic to develop among consumers position and confidence attitude towards his product.
That will give it a market position supervisor to that held by unidentified product, they may be willing product.
Even when consumers will not pay more, if consumers preference can be developed ,dealer may be induced to handle the product for smaller margins.
In competing with there branded product.
The owner of a particular brand feels that he secures the good with arising from satisfaction with product.
Through branding, the owner hopes to make his product special so that customers not only will request it specifically, built will refuse to accept substitute.
Through branding, the branded development habitual use of his product to the extent that selection of the brand become routine his position is then insulted because competitor have to break the habit pattern in order to have opportunity to send to his customers branding also permits the owner of the brand to give brand preference to other product organized as a line or family of product marketed under the same brand.
This makes line extension and the introduction of new product easier.
It may also reduced promotional cost because part of this benefit from any advertising is gamed by all products marketing under the same brand name in the light of the above reason, I am interesting in studying the significance of branding to effective marketing of the tobacco product s in Nigeria.