Each decision made during the marketing mix helps to build a business’s brand. A brand is a name used by a business on its products to distinguish them from competitors’ products. Examples of well-known brands are Kellogg’s, Apple, Heinz and BMW.
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Branding involves selling a product or service under a well-known name.
The Advantages of Branding There are a number of advantages to a business of building a recognisable brand:
• Its products are easily identified by consumers. • Consumers are often willing to pay more for goods made by a well-known brand. • Consumers become loyal to brands.
• A reputation for quality or value can be established for all a business’s products, which makes introducing a new product or service less of a risk.
Logos
Brands commonly use a simple, memorable visual to make their products instantly recognisable to consumers. This is called a logo.
i A logo is a symbol or design used by a business to identify its products.
