Branding: It is the process of giving a name of or a sign or a symbol to a product. Such as Polo, LG etc.
Qualities of a good brand name:
- Short: Brand name should be short so that anyone can remember, spell it.
- Relevant to the functions: Name of the product should be relevant to the product’s functions and suggest the producer’s benefits and qualities.
- Adaptable to packing of labeling: Brand name should be adaptable to packing of labeling requirement.
Advantages of Branding:
- Brand name helps in advertising in easier way.
- Brand name establishes the permanent identify of the product.
- Brand name promotes repurchasing.
- Competition becomes easier with the help of brand loyalty.