Class 12 Business Studies - Chapter Marketing NCERT Solutions | How does branding help in creating produ
How does branding help in creating product differentiation? Does it help in marketing of goods and services? Explain.
A brand is a name, term, sign, symbol, design or some combination of them used to identify the products and differentiate it from that of its competitors.
Branding helps a firm to distinguish its product from the other competing products available in the market.
Branding is much more than an identification mark. It is a seller’s promise to deliver quality and satisfaction of buyers’ expectations. When firms develop good reputation about quality, then brand helps them to enjoy greater control over the customers and to develop brand loyalty.
Thus, branding is not only done to identify the seller or producer but also to make your product superior than competitor’s product. And it also helps in marketing of goods and services. Following are points highlight the importance of branding in marketing of goods and services.
- Helps in advertising and display programmes: Without a brand, the advertiser cannot promote and create awareness for and sale his product.
- Differential pricing: By building brand acceptance and brand loyalty, a firm can charge a different price for its product from that of its competitors.
- Ease in introduction of new product: If a new product is introduced under an established brand name, it is likely to be accepted easily and get a quick start.
More Questions From Class 12 Business Studies - Chapter Marketing
- Q:-
What are the factors affecting determination of the price of a product or service? Explain.
- Q:-
A marketer of colour TV having 20% of the current market share of the country aims at enhancing the market share to 50 per cent in next three years. For achieving this objective he specified an action programme. Name the function of marketing being discussed above. (Ans. Marketing planning.)
- Q:-
What is marketing mix? What are its main elements? Explain.
- Q:-
For buyers of consumer durable products, what ‘customer care services’ would you plan as a manager of a firm marketing new brand of motorcycle. Discuss.
- Q:-
How does branding help in differential pricing?
- Q:-
Distinguish between convenience product and shopping product.
- Q:-
Discuss the role of intermediaries in the distribution of consumer non-durable products.
- Q:-
What are industrial products? How are they different from consumer products? Explain.
- Q:-
What information is generally placed on the package of a food product? Design a label for one of the food products of your choice.
- Q:-
Product is a bundle of utilities. Explain.
Popular Questions of Class 12 Business Studies
- Q:-
How does planning provide direction?
- Q:-
What is meant by staffing?
- Q:-
Identify the network of social relationships which arises spontaneously due to interaction at work.
- Q:-
What is informal communication?
- Q:-
State the meaning of controlling.
- Q:-
What is meant by capital structure?v
- Q:-
What is meant by management?
- Q:-
What is a Treasury Bill?
- Q:-
What makes principles of management flexible?
- Q:-
Under which consumer right does a business firm set up consumer grievance cell?
Recently Viewed Questions of Class 12 Business Studies
- Q:-
What are the major components of the business environment?
- Q:-
Discuss the significance of leadership in directing, with examples of different leadership styles.
- Q:-
Explain the rights and responsibilities of consumer?
- Q:-
How does controlling contribute to the organizational goals?
- Q:-
What is the meaning of directing in management?
- Q:-
Explain the role of consumer organisations and NGOs in protecting and promoting consumer’s interest.
- Q:-
State the objective of NSE?
- Q:-
Explain the term ‘Trading on Equity’.
- Q:-
Explain any three principles of Directing.
- Q:-
A company wants to modify its existing product in the market due to decreasing sales. You can imagine any product about which you are familiar. What decisions/steps should each level of management take to give effect to this decision?
- All Chapters Of Class 12 Business Studies
- All Subjects Of Class 12