Brand Building – Cost Implication of Brand Building

bulls eye Building Cost implication of Brand construct Brand Meaning The vocalize Brand has its origin in the Norwegian word Brand, which means to burn. In ancient quantify farmers used to put burn slits as credit marks on livestock to distinguish their possessions. If the livestock were replaced by ingathering in todays world, marketers atomic number 18 resorting to brand to distinguish their products from that of the competitors. Additionally, it also means an inherent confidence to the customers for quality. A brand is a symbol or a mark that helps a customer in instant recall, differentiating it thereby from the competing products of a similar nature. Brands distinguish a product or wait on from similar offerings on the basis of comical features perceived by the consumers. E.g. LUX, Nirma, PONDS, etc. A brand plays an all-important(prenominal) role in better and maintaining product quality. In detail a brand is a seal of consistency and dependability of quality. Brand also helps in better dissemination of product knowledge which can leave to scientific and rational closing making. For example, TATA denotes an image of a fat responsiveness and indigenous product.

Brands precious Tradable Assets Brands provide a loaded competitive advantage to the companies owning them and thence they are increasingly seemly important tradable assets. In 1993, Coca-Cola payment about Rs.175 crore to buy Thums-Up, Limca,Citra and flamboyant Spot brands. In 1994, Godrej soaps pay Rs.12 crore to acquire the Rs.67 crore Translectra (maker of GoodKnight mosquito repellent) . In 1995, Smithkline Beechem paid Rs.42 Cro! re to acquire thye Crocin brand from Dhupar Interfan. In 1997, Knoll Pharma interchange Coldarin and Burnol for Rs.34 Crore. Ranbaxy paid Rs. 80 crore to Gufic Labs for Mox,ZoleExcel and Suprimox. In 1997, Hindustan Lever paid Rs. cx crore for Lakmes basket of brands and lone(prenominal) Rs.29 crore for Lakmes two plants. In 1999, Marico Industries bought parachute and Suffola brands from Bombay...If you want to nettle a full essay, auberge it on our website: BestEssayCheap.com

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