Important Aspects of a Company Brand
Dept. of Fashion Design
KCC Women’s College (Affiliated by Khulna University)
Definition of Company Brand:
Branding is personalizing a product to ensure a balance between different economic values. In the fashion industry branding has become the dominant competitive strategy for all successful companies. Distinguishing name or symbol, such as a logo, that identifies the products or services offered by a seller and differentiates those products and services from those offered by competitors. The aim of branding is to make a link between the character of an object and its branded image or form.
Some definitions are given below:
- In a fashion context, brands signal to consumers the quality of a product, the image that it is meant to convey, as well as representing particular current garment styles and trends (McCracken, 1986; Keller, 1993).
- The marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products.
A brand generally consists of the following aspects:
- Apparel with a higher value may signify higher quality to the consumers.
- Limited distribution of the product symbolizes uniqueness to discerning consumers.
- Brand image signifies the quality of the product, thus giving them the satisfaction of buying quality items.
- Brand indicates a status symbol, and satisfies the ego of the consumer that he is wearing a reputed company’s outfit.
- Branding helps in developing a customer commitment. Once the customer develops brand loyalty for the product, he jumps into buying decision without much thinking as his mind set is already melded with a positive opinion about the particular brand.
Types of company brand:
There are two main types of brand-
- Manufacturer Brand.
- Private Label Brand
1. Manufacturer brands:
Manufacturer brands are created by producers and bear their chosen brand name. The producer is responsible for marketing the brand. The brand is owned by the producer. By building their brand names manufacturers can gain widespread distribution and build customers loyalty.
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Advantage of Manufacturers Brands:
- Develop customer loyalty
- Attract new customers
- Enhance prestige
- Ensure dealer loyalty
2. Private Label Brand:
Own-label brands are created and owned by businesses that operate in the distributions channel-often referred to as “distributors”. Often these distributors are retailers, but not exclusively. Sometimes the retailer’s entire product range will be own label. Own label branding – if well carried out can often offer the consumer excellent value for money and provide the distributor with additional bargaining power when it comes to negotiating prices and terms with manufacturer brands.
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Advantage of private label brands:
- Earn higher profits.
- Less pressure to mark down prices.
- Ties customer to wholesaler or retailer.
- Manufacturers Brand versus Private Brands
Manufacturers Brand versus Private Brands:
- important aspects of companies;