Branding, packaging and labeling as labeling as strategies to face stiff market competition today3
The benefits of branding :3
The benefits of packaging5
Facilitates Purchase Decision6
The benefits of labeling7
Competitive market is where a lot of buyers and sellers come together as each of them is a price taker. There is several techniques the seller can apply to differentiate their product in order to take advantage in the market. Such techniques are of branding, packaging and labeling. Literature review
can be defined in numerous ways. Because of these, there are a lot of misconceptions about branding out there. Furthermore, the branding techniques that businesses use are increasing by the day. Gone are the days where branding is often limited to traditional media like radio advertising, TV advertising, and billboard advertising. With the entry of the internet into the picture, the whole business branding process has changed and it continues to do so. The internet has opened numerous channels through which businesses can perform their branding activities. With that said, branding has gained importance more than ever before. It has become an indispensable aspect of running a business; whether your business is based online or offline. Packaging
is the science, art, and technology of enclosing or protecting products for distribution, storage, sale, and use. Packaging also refers to the process of design, evaluation, and production of packages. Packaging can be described as a coordinated system of preparing goods for transport, warehousing, logistics, sale, and end use. Packaging contains, protects, preserves, transports, informs, and sells. In many countries it is fully integrated into government, business, institutional, industrial, and personal use. The primary use of packaging is to deliver the product to its users. But on the other hand packaging can be used to differentiate the product from other competitive products in the market.
the part of a package that carries information about the product it contains; a label may be a permanent part of the primary package or a tag, sticker, band, etc .moreover labeling is the activities associated with the design and content of the wording on a product or package which identifies it and provides instructions for its handling and use. Branding, packaging and labeling as labeling as strategies to face stiff market competition today The benefits of branding :
A brand serves as a convenient container for a reputation and good will. It's hard for customers to go back to "that whatsitsname store" or to refer business to "the plumber from the Yellow Pages." In addition to an effective company name, it helps when people have material reminders reinforcing the identity of companies they will want to do repeat business with: refrigerator magnets, tote bags, datebooks, coasters, key rings, first aid kits, etc.
Memorability can come from using and sticking with an unusual color combination (FedEx's purple and orange), distinctive behavior (the gas station whose attendants literally run to clean your windshield), or with an individual, even a style of clothing (Author Tom Wolfe's white suits). Develop your own identifiers and nail them to your company name in the minds of your public. Oyalty
When people have a positive experience with a memorable brand, they're more likely to buy that product or service again than competing brands. People who closely bond with a brand identity are not only more likely to repurchase what they bought, but also to buy related items of the same brand, to recommend the brand to others and to resist the lure of a competitor's price cut. The brand...