Question

What are the Important and the emerging issues in branding

Answer 1

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Branding is very important for business as it is the sole value over which their identity depends upon. People recognize a particular company with their brand and this is the value over which the entire implementation, strategic placement, and marketing depend. The brand name is sometimes synonymous with quality that a company provides and are based on the needs of the customer.

The emerging issues in branding are:-

Maintaining Brand value: Usually, very few customers buy what the brand offers and does not only consume or promote a particular brand and feels a need to try other brands out. Whereas, Brand loyalty is important for any brand in order to reach the organizational goal.

Recognition: This factor means that a brand is not recognized easily by people because of its distinguishing feature.

Brand Preference: This factor means that the brand is not usually preferred by the consumer over the other brand.

Equity: It describes the value of the brand in the eyes of the people and their experiences with using the brand. It is what is used to compare the brands amongst each other. Whereas many of the Brands fails to secure their market share and loses popularity.

Adding value to the Brand: Branding creates effective use of leveraging the placement of a product with regards to its use, quality, and likeability by the people, to a point that branding has essentially replaced all other forms of promotion for any given product. People recognize a brand much easier than they recommend a certain commercial that the brand launched. Therefore, correct branding, effective promotion combined with the use of a good placement helps a product reach new depths in terms of sales and exposure.

Brand Insistence: Brand insistence refers to the fact that a particular product is thought to be of a better quality than other just because it is branded efficiently and is a name people have a preconceived notion about which they relate to the factor of quality. People usually prefer products that are branded efficiently by the fact that their mind considers a better brand to provide a better product which is not usually the case.

Securing the Brand: It is very necessary to protect your brand to safeguard the interest of the company. If a brand identity is stolen, used without authorization. It might negatively affect the brand image because some companies might not share your ideas and goals and therefore, might use your brand name for their benefit as well as destroy its value.

Global Problems: While a company has to present its brand globally, it presents a lot of issues with it which include the other country’s packaging and labeling laws. Piracy is also a relevant concern when a brand tries to break itself into the international market. Different countries have different values where aesthetics are concerned, therefore, companies need to follow not only the cultural views but also the values that are based on the country’s population. It has too many variables and involves precise adjustment to the present structure based on the size of the packaging and different laws in the different countries.

Mistrust: When a person buys a product unless they have already bought a similar product from the same company they will have doubts about the sustainability, quality, and value of a product.