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:-
Discuss the role of intermediaries in the distribution of consumer non-durable products.
- Q:-
Distinguish between convenience product and shopping product.
- 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 is meant by recruitment? How is it different from selection?
- Q:-
Explain the concept of formal and informal organization with their significance.
- Q:-
Explain the Principles of Scientific management given by Taylor.
- Q:-
If planning involves working out details for the future, why does it not ensure success?
- Q:-
A company is manufacturing paper plates and bowls. It produces 1,00,000 plates and bowls each day. Due to local festival, it got an urgent order of extra 50,000 plates and bowls. Explain the method of recruitment that the company should adopt in the given circumstances to meet the order.
- Q:-
Explain the significance of management in achieving organizational goals.
- Q:-
“Money Market is essentially a Market for short term funds.” Discuss.
- Q:-
Ashita and Lakshita are employees working in Dazzling enterprises dealing in costume jewellery. The firm secured an urgent order for 1,000 bracelets that were to be delivered within 4 days. They were assigned the responsibility of producing 500 bracelets each at a cost of Rs 100 per bracelet. Ashita was able to produce the required number within the stipulated time at the cost of Rs 55,000 whereas, Lakshita was able to produce only 450 units at a cost of Rs 90 per unit. State whether Ashita and Lakshita are efficient and effective. Give reasons to justify your answer.
- Q:-
Why is understanding the business environment crucial for managers?
- Q:-
Explain the importance of financial planning for a business.
- All Chapters Of Class 12 Business Studies
- All Subjects Of Class 12