The process involved in creating a unique name and image for a product in the consumers' mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.
Brand Positioning is importantly needed in Market Research as it differentiates the advantages strategies. Every brand has somehow a sort of position, positions are built through consumer’s desires. They are built and placed through communication which would be used through advertisement, brand names and the packages. You can’t define a good position until you have divided the market into unique segments and selected your target segments.
“Positioning is not what you do to a product; positioning is what you do to the mind of the prospect." http://www.s-m-a-r-t.com/Exp_brandpos.htm Brand Extension:
Brand extension in marketing extends the product’s appearance and functions. In other words it adds more to the product to make improvement.
The Image above shows the coca cola brand from when it was first invented until recent. The chemicals and fizziness has increased since made but with better taste. Which has extended the product into a higher standard.
The decision making whilst considering buying a product is basically the meaning of “buyer…