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RETAIL BRANDING
Brand is the products essence, its meaning and its direction. It defines its identity in time and space.
True branding effort Communication that inspires emotional reaction Customer Service How salespersons greet customers How fast product is shipped and delivered Involves every single contact occurring between any product and a human representative of the company
Role of Brand
Successful Retail Branding ensures
Stable long term demands Better margins Differentiation by way of creating long term association Adds value to the product Trust of fulfillment of service expectations Protection from growing competition Image as a company attractive enough to work for Negotiation with suppliers from a position of improved strength
Brand Loyalty
Brand or store loyalty will ensure
Positive disposal to the brand based on brand loyalty Brand preference : Frequent utilization of the store over other stores Brand allegiance : Continuous utilization of the store overtime
Personality of a brand
It is created by way of adding psychological values through
Packaging Advertising Other aspects of the marketing mix Importance Encourages customers to build a relationship with a brand Gives strength to the brand Ensures the staying power of the brand
Hence brand personality has developed as a term.
Brand Propositioning
Propositioning
Brand Identity
Central concept in promoting a brand Comprises durability, coherence and realism embodying personality of the brand Sends out signals which the consumers decode and interpret in terms of image