Effectiveness of Brand

Only available on StudyMode
  • Download(s) : 76
  • Published : December 3, 2012
Open Document
Text Preview
Chapter-1

Introduction

|Serial No. |Topics | |1.1 |Introduction | |1.2 |Importance of the study | |1.3 |Literature review | |1.4 | Objectives | |1.5 | Limitation |

1.1 Introduction

PRAN Groups was born in 1981. Keeping in view the corporate mission of the group PRAN has over the years diversified of their activities. Today PRAN is the largest processors of fruits and vegetables in Bangladesh. PRAN encourages contract farmers and help them grow quality crops with increased yields and to obtain fair prices. The groups comprises of 10 companies. The head offices are located at Dhaka with production facilities around the country. The management of PRAN is modern adapted to their environment and culture. The largest asset of PRAN is their competent team of hands on managers and dedicated employees.

A brand is a “name, term, design, symbol or any other feature that identifies one seller’s good or service as distinct from those of other sellers.

Proper branding can result in higher sales of not only one product but on other products associated with that brand.

Brand is the personality that identifies a product, service or company and how it relates to key customers, staffs, partners, investors etc.

People engaged in branding seek to develop the expectations behind the brand experience, creating the impression that a brand associated with a product or service has certain qualities or characteristics that make it special or unique.

A brand is therefore one of the most valuable elements in an advertising theme. As it demonstrates what the brand owns is able to offer in the market place.

The art of creating and maintaining a brand is called brand management.

Effective brand management seeks to make the product on services relevant to the target audience.

Advertising and promoting is the key to make a effective brand. To cope up with the rapid and ever changing market situation and to come up with innovative marketing strategy and ideas PRAN organization has set up a full-fledged in house advertising agency comprises of the best talents of the country, PRAN organization spends a large portion of their promotional budget in brand building exercises at home and abroad.

To make the groups products available at the every knock and corner of the country PRAN has developed the best sales and distribution network all over the country. To ensure fast and smooth distribution PRAN organization has set up 9 distribution depots and has appointed more than 1000 dealers all over the country.

To make a brand more effective, PRAN has established a quality control department. This department thinks the customer determines quality because the company produces according to customer’s taste and choice. The employees who work in the quality control department, all of them are from science background i.e. they are either BSC holder or MSC holder. Most of them are from micro Biology, chemistry Biology, Botany etc.

Effective brand management enables the price of products to go up and builds legal customers through positive brand associations and images or a strong awareness of the brand. Developing a strategic plan to maintain brand equality or gain brand value requires a comprehensive understanding of the brand, its target market and the company’s overall vision.

Effective brand management also helps to create trust and build strong customer relationship. Customers buy from brands they trust. At the beginning of any relationship, trust is the most difficult component to establish. Relationships with trusted brands...
tracking img