Hi, need to submit a 250 words essay on the topic What is Branding.
It can therefore be used as a strategy to maintain customers as well as attract others.
A strong brand is imperative for the intended purpose to be achieved. If it is a statement or slogan, it should as precise and short as possible. This should be something that target customers can remember at ease. Before branding is done especially for existing companies, it is vital to involve the customers. Constant communication with such people allows the companies know what kind of information or graphics to include.
However, branding does not work at all times. In some companies, the introduction of new brands has culminated into loss of customers. For instance, one of the leading on-demand streams faced challenges when a number of its subscribers withdrew. This was caused by the effort of the management to change the logo. Companies which have already become established in the market do not need to have new brands. Some of these companies are price leaders in the market and therefore do not need such branding. Apart from being wastage of time and money, this development may also lead lose of customers. However, in the event a given company would want to develop a new brand, discussing with clients would be