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Promoting and Branding in Retail Business - Branding: meaning; reasons for; benefits achieved from successful branding;
Transcript of Promoting and Branding in Retail Business - Branding: meaning; reasons for; benefits achieved from successful branding;
Understand the meaning of branding
Understand the reasons for branding
Explain the benefits of branding to particular businesses Everyone write down 4 questions from the topic so far
In your pairs take it in turns to ask each other questions.
Anything you do not understand, make a note it and we will revisit at the end of the lesson What is meant by the word branding? entire process involved in creating a unique name and image for a product in the consumers' minds, through advertising campaigns with a consistent theme
What might a brand consist of? brand name logo slogan In pairs create a poster that identifies a brand name, it's logo and slogan for different retail businesses Just do it Beacaue you're worth it I'm loving it Why would retail businesses use branding? What is the point? Association, emotion, idenitity, uniqueness, differentiation What do you think the benefits of branding are? Branding can exert a considerable influence over buyer behaviour. They will generate high revenue, promotion and repeat purchase. Sometimes they can be sold at a high price Brands enable organisations to create and maintain a distinctive and advantageous image for its products. Once a brand builds strength , it can help a business either enter new markets or sell into existing markets with less risk of failure Recognition and Loyalty Image of Size Image of Quality Image of Experience and Reliability Multiple Products Every little helps Reassuringly expensive Your local bank Is branding always positive? What do you think of when you see these logos? What affect would negative perception have on a retail business? Summary
Everyone write down a question from this lesson you don't know the answer to.
Before next lesson endevour find the answer to the question.
Everyone tell me one thing they have learnt from todays lesson Retail branding lesson 2 Identify gaps from yesterday's learning
Set own SMART objectives for todays learning
Understand why, how and when a retail business might review or update its brand In your groups try to come up with the
Best possible definition of branding
as many reasons for branding
as many different benefits of branding to businesses you are aware of What questions did you answer for this lesson? Why might a retail business want to review it's brand? Customers changing Needs changing What is working/not working Customer perception (good/bad) Is it still addressing target customers? Customer demand Do the new customers fit the market segment they want to target? What options do you have? Stay the same or update the brand? Keep it fresh and up to date Change a slogan Rebrand to overcome negative perception Change logo 1956 1986 2004 Rename Create a new perception of value So - as a recap - why might a retailer review its brand? How might it update its brand? Objectives change When?