Question

Write short notes on the following.

Branding

Answer 1

Branding implies giving a unique name, sign, symbol or term for the identification of a product. Branding is one of the most important elements of marketing. Through branding, firms differentiate their products from other similar products. If instead of branding, the firms opt for a generic name for their products, they would not be able to distinguish their products from those of their competitors. This is because a generic name would represent an entire class of the same product.