subject: Branding, Stereotypying and labeling [print this page] Branding, Stereotypying and labeling Branding, Stereotypying and labeling
We are living in the age of branding and almost anything and everything is branded. A Brand is the name, term, sign, symbol or other identification which are used to differentiate product, service, and other marketing entities from the competitors offering. A brand carries the assurance of quality. But does it mean that the market offering which is not branded is not qualitative?
Branding no doubt helps the consumer in selecting and purchasing the products, services and other market offering. Brands are not built overnight and they are the result of persistent efforts of marketers in creating and delivering value to the customer by offering quality products and services at reasonable price. The other market offerings may also be qualitative and can deliver value to the customer but may not get customer preference due to lack of branding. This scenario brings us the difference between product and brand. A product is anything which can satisfy the need or want but then it lacks reputation and image which are very important in the world of marketing.
This scenario compels every marketer to strive for creating brand. Branding requires not only attractive features, good quality, durability and unique sales proposition but it also requires lot of expenditure on marketing promotion particularly on advertisement. This leads me to conclude that every market offering whether it is product, service, person, place, and event must brand itself to get consumer preference and favorable buying decision. Stereotyping is the impression which is formed about market offering and prevails for certain time without proper justification. It can lead to improper choice in buying behavior. Labeling as such gives all the necessary information about market offering to the customer and helps him or her in their buying decision. Branding is here to stay and is going to consume lot of time, money, energy and effortsof marketers.
