Unit 3: Building a Business - Branding and Differentiation
- Created by: Ronita
- Created on: 10-04-13 17:34
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Brand: A named product that consumers can see as being different from other products and which they can associate and identify with.
Branded Products:
- Consumers are more willing to trial products in the brand range
- Brands encourage customer loyalty
- Consumers trust brands, leading to repeat purchases
- Brands can often charge premium prices
- Consumers have greater awareness of brands
- Brands can lead to increased sales and markets share
Generic/Non-branded Products:…
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