Advantages of Branding to the Marketers:
(i) Enables Marking Product Differentiation: Branding helps a firm in distinguishing its product from that of its competitors. This enables the firm to safe and manages the market for its products.
(ii) Helps in Advertising and Display Programs: A brand aids a firm in its promotion and display programs. Without a brand name, the promoter can only generate consciousness for the general product and can never be sure of the sale for his product.
(iii) Differential Pricing: Branding enables a firm to accusation dissimilar charge for its products than that charged by its competitors. This is feasible because if consumers like a brand and become customary of it, they do not mind paying a little higher for it.
(iv) Ease in Introduction of New Product: If a latest product is introduced under a recognized brand, it enjoys the reflected magnificence of the brand and is likely to get off to an exceptional begin. Thus, many companies with recognized brand names choose to initiate new products in the similar name. For example, successful brand Maggie (Noodles); it comprehensive this name too many of its latest products introduced such as Tomato Ketchup, Soups, etc.
