Branding, Packaging, and Labeling
- A brand is a name, term, design, or symbol (or a combination of these elements) that identifies a product or service. A brand is one of a company’s most important assets and a powerful tool in the marketing and selling process.
- Brands can include a trade name, brand name, brand mark, trade character, and trademark.
- The three types of brands are national, private distributor, and generic.
- Branding strategies include brand extensions, brand licensing, mixed branding, and co-branding. Effective use of different brand strategies can increase sales of branded products and maximize company profits.
- The functions of packaging include promoting and selling the product, defining product identity, providing information, expressing benefits and features to customers, ensuring safe use, and protecting the product.
- The main functions of a label are to inform customers about a product's contents and give directions for use. Labels can also protect businesses from legal liability if a consumer misuses the product.