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Advantages and Disadvantages of branding

Advantages and Disadvantages of branding - But there are...

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1 Abishova Abishova Akerke Askar Aitzhanovich Finance 202 20 October 2010 Advantages and Disadvantages of branding First of all I’d like to start with a definition of the word “brands”. Brand is the personality that identifies a product, service or company. In today’s world, just as it has been for many previous centuries, material goods make a big contribution to one’s image and to the social status of a person at first sight. A wealthy, financially stable person could walk down a street wearing an old pair of jeans and a rugged tee shirt and be taken as a middle-to-low-class person. On the contrary, a middle-class woman could wear her only Dolce & Gabbana dress and carry her only Louis Vuitton handbag and be viewed as a being with excess wealth and prosperity. Though I think that the main aim of a brand is to develop trust and satisfaction with customers and supporters, people develop their own idea of what this representation may include after experiencing the product for themselves.
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Unformatted text preview: But there are some advantages and disadvantages of branding. I want to tell you about it in different sides. First of all, Advantages of Branding to buyers: brand denotes quality, makes the product readily identifiable, increase product quality as competition increases, and may lead to psychological satisfaction to the buyer. Secondly, the disadvantages of Branding to sellers: branding tends to increase product price, and eventually, may lead to decreased product quality. Branding can be very expensive because costs of marketing and advertising tend to increase. 2 At last the advantages of Branding to sellers: easy identification and differentiation of the product, and branding creates loyal and regular customers. So, in conclusion, I think that more people to know the best of the products, but on the other hand more people to know how worst the products are. Branding is very much linked to promotion and adverstising....
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