Have you ever wondered why nine out of every ten people in the UK use Google to search the web? It is because they trust the brand. Branding is a marketing term associated with the promotional part of the marketing mix. You might think that it forms a small part of marketing theory. However, branding decisions have far-reaching implications for any large or small business, and inform not only the firm’s promotional approach but also the activities of the finance, operations management and human resources departments.
Choices about brand position will determine the style of advertising, unique selling point, packaging, merchandising, costs per unit, type of manufacture and quality of staff training. Poor branding decisions may see a product fail to succeed in the market. As Matt Haig describes in his book Brand Failures: ‘companies live or die on the strength of their brand.’ Even Coca-Cola was thwarted by the strength of its existing brand when it tried to re-brand its product as New Coke in 1985.
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