A brand is a product with unique character, for instance in design or image. It is consistent and well recognised.
The advantages of having a strong brand are:
Some retailers use "own-label" brands, where they use their name of the product rather than the manufacturers like Tesco's "Finest" range of meals and foodstuffs. These tend to be cheaper than the normal brands, but will give the retailer more profit than selling a normal brand.
Some brands are so strong that they have become global brands. This means that the product is sold in many countries and the contents are very similar. Examples of global brands include: Microsoft, Coca Cola, Disney, Mercedes and Hewlett Packard.
The strength of a brand can be exploited by a business to develop new products. This is known as brand extension – a product with some of the brand's s characteristics. Examples include Dove soap and Dove Shampoo (both contain moisturiser); Mars Bar and Mars Ice Cream
Brand stretching is where the brand is used for a diverse range of products, not necessarily connected. E.g. Virgin Airlines and Virgin Cola; Marks and Spencer clothes and food.
The logo on a product is an important part of the product. A logo is a symbol or picture that represents the business. It is important because it is easy to recognise, establishes brand loyalty and can create a favourable image.
Join Graham Prior and Jim Riley for a resource-packed CPD day which will help you accelerate your planning and lesson preparation for the new AQA A Level Business. We've packed this day with resources to help teach the new spec content. We also consider how best to approach the challenges of a linear Business course.
This resource comprises a complete collection of editable PowerPoint presentations that are ideal for teaching individual topics for the whole Year 1 (AS) teaching content. Each presentation has a consistent, clear and professional format and maps precisely to the specification teaching content.