A Level Business - Branding.

Select the 2 advantages of branding

• A business can save money on marketing once the product becomes a household name.

• It means businesses don't have to make new items.

• The business can change its name if it wants to.

• Higher prices can be charged when consumers become loyal to the brand.

Tipp-Ex is...

• The product

• The brand

Brands tend to charge customers

• more for their products

• less for their products

2 disadvantages of branding are..

• The business gains a huge following of loyal customers.

• The business' products can be easily copied and sold for a much cheaper price.

• A poor brand can affect the whole range of products produced by the manufacturer.

• The company cannot release new collections.

In what ways can a brand be easily recognisable?

• By its logo

• By the price

• By the taste

• By its packaging

Customers that buy brands expect the product to be high

• in price

• quality

Hoover is the...

• Product

• Brand

A well known brand might be seen as a guarantee of high quality. With some brands there can be an element of “snob value” in using them.

• True

• False

A mark or design placed on a product to identify it is...

• brand
• brand position
• brand loyalty
• benefit

Shelly will only buy Starbucks coffee is an example of

• brand position
• brand loyalty
• brand identity
• visual symbol