An investigation of how product branding has influenced the performance at Pwani Oil. 1. Background
Brand is a term commonly used to refer to something which is totally differentiated from those of similar kind. A brand has outstanding and unique features which mainly impacts on consumer decisions on whether to purchase the product or not. According to a scholar, David Ogilvy it is the intangible sum of a product attributes: its name, packaging, and price and the way it is advertised. Many organizations today overlook the importance of branding its products which greatly contributes to their collapse in future. Branding is key to new firms in an industry if they have to develop a market niche. For a product to survive in an industry since its inception to its final cycle, continuous improvement is fundamental which is gradual steps to creating its brand image. In today’s organizations product branding has had numerous effects to company image and performance. Branding is the biggest distinction between two products. Typical, advertising techniques are no longer sufficient to promote a product, instead branding has evolved in order to differentiate among the surplus of products that clutter the advertising spaces. Branding gives greater meaning to a company's name and its products. Through effective emotional appeals and market messages, your business can help the market identify your brand and differentiate it from competitors based on benefits such as better quality, services or tools. Companies build brands using memorable names, symbols such as logos and images and phrases. Catchy slogans, for instance, sometimes become strongly connected to your brand so that people easily recall the brand from hearing the slogan. Branding is one of several important concepts in marketing a business. Marketing helps business to establish and develop a brand. Marketing involves the interactive communication process between a company and its customers. This includes market research to discover the needs and wants of the market, development to match and communication to inform and persuade the market of your benefits. In addition the manufacturing and production are also key since they make the product from its inception to completion.
Internationally there are some well known product brands in different industries. Product branding in most of these companies has been a gradual proces Most of which have grown due to the well known product brand high sales level. a. Apple
Apple manufactures iPhone smart phones which have a good customer base, majorly the rich. This phone has unique features which are constantly improved by a very creative and innovative team which is futuristic. Apple iPhone 5 features include; a memory space ranging from 16GB to 64GB, a retina display of 326 ppi pixels density, battery backup of more than 8 hours, among others. According to Apple, iPhone 5 pre-orders shattered their previous phone in its October 2011 release. In just three days of its availability, iPhone 5 U.S sales reached 68% of total online sales. The iPhone 5 marks another milestone in apples history of innovation and demonstrates just how cherished these tiny computing machines have become for consumers around the world. African Perspective
In Africa there are some well known brands which have been developed over the years to meet the dynamic consumer demand in respect to the continental cultural diversity. Africa having the most number of third world countries firms have branded their product in a way that pricing is affordable and quality acceptable to set standards. b. Unilever East and South Africa
It operates in 19 countries with a population of 150 million people in east and southern Africa. Its mission is rooted in the intimate understanding of people’s needs and aspirations. Their brands ensure people feel good, look good and get more out of life. Their brands range among foods, homecare and...
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