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Summary business branding
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Branding M1 and D1, advantages, disadvantages and impactBranding can give many benefits to a business if done correctly but at the same time
it can also negatively affect your business that could probably affect your sales or
customer relations. The perfect business example to all about this would be Dyson
and here is why.
Benefits of branding towards Dyson:
Dyson brand has a very strong and identifiable brand that anyone can recognise
while at the same time other business that has a similar business model has very
different brands then what Dyson has. This would mean that Dyson would probably
get an increase sale since they have a brand that is recognisable by the public and is
very trusted by many people.
Another benefit Dyson would get by branding is that through Dyson brands, they
would a lot of their new customer into their loyalty ladder while they are progressing
and retaining the older customer through their loyalty ladder as well.
Customer are also less likely to question or reject the prices that Dyson put out for
their product which also comes as a good advantage for having a good brand for your
business.
Another benefits that would come if your business has a good brand like Dyson is
that you would probably get an increased profit for shareholders via a very successful
brand value chain.
If you create a successful advertising campaign on an already well-established brand
like Dyson, then the chances of you getting an increase of customer and sales would
improve massively which could also be considered another benefit of having a good
brand for your business.
You can also launch more products much more easily when it is already to business
that has a very successful branding since you already established a good relationship
with the customer meaning that they can trust you more with the newer products
you are launching .
And the last benefit that comes with a good branding is that customer is more able
to differentiate your product that you are releasing and from your competitors like
how Dyson does theirs.
Disadvantages of branding:
The big disadvantages that comes with having a successful branding is that it would
involve huge sums of costs because they are not easy to establish and advertising
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