Explain how branding is used in two businesses- P1:
A brand is a type of product manufactured by a particular company under a particular name. They all have a unique personality/ identity. All brands have a particular strategy to gain customers.
Branding can help the company to raise your product business into something outstanding, instead of being known as a small non-profiting company. Competitiveness is a key value of promoting a company; promoting the company and the goods it sells.
Apple/ Nike Inc: A brief description of each business: Apple is an American multinational technology company based in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services.
Nike Inc is an American multinational corporation that is based on the designing, developing, manufacturing, worldwide marketing and sales of footwear, apparel, equipment, accessories and services. The company is based in Beaverton, Oregon, in the Portland metropolitan area. It is one of the world's largest suppliers of athletic shoes and apparel, and a major manufacturer of sports equipment.
An identification of each business’s brand or brands: [pic 1]
[pic 2]
An explanation of how the branded product/ services have added value to each business: As consumers, Apple provides value in many ways, they provide significant competition. Competition is good for the consumer because the price will go up depending on the product for example, people prefer Mac then PC because it’s easier as well as time shortening. Apple started off selling IPhones but now their brand has become successful and has televisions, computers, iPods, etc.
Nike added value my making raw materials into their final piece. They sell their range of products worldwide. They are also loyal to their brand as well as customers. They use celerity endorsement in their advertisements, therefore gaining more customers. They hold fundraisers to show that they are able to help others, which will build on their brand image and attract new customers, not just because of their likings but because of their personality.
A description of how the brand personalities appeal to you and other customers: Apple meets a real need for others- They advertise their products to a range of ages, they carve out an identity and they are creative. Design matters- They expand their design into marketing or branding. Apple is a reliable brand as well as their products.
People worldwide like to choose Nike when it comes to purchasing athletic shoes, equipment, apparel and accessories. Nike is a brand that relates to almost every age group with its unique designs of sports equipment. Nike is the most valuable brand when it comes to sports businesses.
An explanation of the benefits of the brand or brands to each business e.g. image, quality, recognition, long-lasting perceptions, trust, marketing multiple products: Branding develops an image of a company's products in the minds of consumers, contributing goods with unique qualities or characteristics that, if done effectively, are attractive to the target audience. A brand widely known in the market has brand recognition and builds up benefits which further strengthens the company position along other competitors. Benefits of a strong brand include: able to command higher prices, satisfying the consumer, using celebrity endorsement in marketing, and resist decreasing prices.