Why Branding Is Important to Consumers Essay

462 Words2 Pages
Briefly discuss why branding is important to consumers and why it is important to manufacturers. In your discussion, please use examples of specific brands, and of product categories. For which brands and product categories are branding most important and why do you feel this is the case? To consumers brands provide important functions. Brands identify the source or marker of a product and allow consumers, brand provide important functions. Customers figure out which products satisfy their needs and which that not. If consumers recognize a brand and have some knowledge about it, then they do not have to engage in a lot of additional thought or processing of information to make a product decision. Thus, from an economic perspective, brands allow consumers to lower the search costs for products both internally (in term of how much they have to think) and externally (in terms of how much they have to look around). Based on what they already know about the brand – its quality, product characteristics, and so forth – consumers can make assumptions and form reasonable expectations about what they may not know about the brand. Brands take on unique, personal meanings to consumers that facilitate their day-to-day activities and enrich their lives. As consumers lives become more complicated, rushed, and time starved the ability of a brand to simplify decisions making and reduce risk is invaluable. Firms: A brand offers the firm legal protection for unique features or aspects of the product. A brand can retain intellectual property rights, giving legal tilte to the brand owner. The brand name can be protected through registered trademarks: manufacturing processes can be protected through patents: and packaging can be protected through copyrights and designs. These intellectual property rights ensure that the firm can safely invest in the brand and reduce the benefits

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