product- branding and differentiation
- Created by: Chloeeee0129
- Created on: 06-06-16 08:00
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- Year 11 Business studies- Branding
- Branding
- A promotional method that involves the creation of an identity for the business that distinguishes the firm and products from others.
- It can add value to a product allowing firms to charge higher prices.
- Leads to brand and customer loyalty - where customers continues to buy products from that firm
- Branding to aid product trial and repeat purchase
- an established business can use their reputation to help product trials
- USP
- Unique selling point - something that distinguishes a firms products from those of its competitors
- Can allow a firm to charge a premium price
- product differentiation
- Branding
- Firms try to make their product different to the competition
- quality
- design
- Promotion
- Branding
- packaging
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