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Essay / Research Paper Abstract
This 7 page paper looks at the benefits that firms gain from branding strategies, how they fit in with corporate strategies and considers the argument that the principle aim of branding is to enable the firm to charge a higher price than for a non branded item or service. The bibliography cites 14 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEbrprice.rtf
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Unformatted sample text from the term paper:
UK is in excess of ?35 million1 (Sweeny, 2007). Although some of this marketing is focused on products a great deal is spent on branding, creating an image that can
be maintained which communicated values and the perception of an experience. McDonalds are very good at attracting customers, but why are they undertaking such a high level of branding? It
may be argued that branding takes place in order to increase the price a firm can charge for its products or services, but does this argument have any merit? It
order to assess this the concept of branding need to be considered along with the way that it is used as a tool so enforce and support sales. The
first consideration is to define what is meant by a brand. It is easy to identify brands, from Coca-Cola, Pepsi and McDonalds to Nike and Reebok, they have identifiable characteristics,
which may include images and specific colors or text styles and the most successful often becoming mythical in their status (Holt, 2003). In some counties there have even been attempts
to trade mark shapes and colors that are associated with brands, some of which have been successful, as seen with the US company Owens-Corning Fiberglas Corp (Zielaznicki, 2001). Aaker
and Lane (1990), sees a brand as a mental box, which can be described as a set of assets, or liabilities which are associated the brand name and/or symbol, which
will add or subtract to the value of the goods or services that are being provided. This demonstrates the ability of a brand to have both positive and negative connotations.
There are examples of this, such as the poor image of Townsend Thorsen after the sinking of the Herald of Free Enterprise at Zebrugger. The news of the sinking, which
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