Brand development plan Essay Example | Topics and Well Written Essays - 2500 words

Brand development plan - Essay ExamplePositioning8 v. Secondary Association9 vi. Legal Protection10 communicating the new brand..10 i. Marketing Communication.11 a. Advertising..11 b. Personal selling..12 c. Sales promotion12 d. Public relations12 speculation of Brand extension 12 Conclusion.13 References14 Introduction Nearly all bank linees have names they use in trading, from the small scale retail merchant to the large-scale multinational organization. Product branding has become increasingly fundamental in shaping a convergence profile. Branding uses names, symbols, labels and layouts to guarantee that a product is recognizable and distinct from competitive products in the market. A product brand signals two the origin of the product and the supplier responsibility for the product. Brand names seduce trusts and are particularly helpful for promoting the environmental qualities of products when these would otherwise not be apparent. Both the supplier and the customer benefi t from branding. From a customers period of time of view, brands help reduce the demand for information when making purchase decisions. Needless to say, they also provide status through the image they display, recognition and expected spirited quality. In essence, brands create a mental picture that provides focus to the consumer when choosing between several alternatives. From a suppliers point of view, branding enhances the opportunity for sign sales and repeat buying. By differentiating a product from its rivals, branding provides some scope for pricing discretion, although the extent of discretion depends on the market structure. Lamb et al. (2011) states that a companys brand is the most powerful communication tool in marketing products (p. 156). I reference to Kotler (1991) a brand strategy is built on brand positioning, brand mission and brand promise (156). This paper discusses the brand strategy for Flash Sports and footwear Incorporation. Flash Sports and Footwear Inco rporation deals with both male and female sports and foot wear. This brand name will be used in all its products across the globe. Development of New Brand world heard in the middle of a competitors growling voices is an overwhelming task in contemporary market. This is shockingly proved to be adjust each time we view the television, read the newspaper or magazine or visit the internet. As a result, there is need for a business to seek and develop new brand to effectively increase awareness and brand loyalty. Though brand development is by no means a new idea, Doyle (1994) asserts today consumers have more access to information and more choices than ever before