Product Branding Essay

Submitted By doit4me2012
Words: 937
Pages: 4

1. A brand is defined as a name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers (Kotler & Keller, 2012). To be successful at branding, businesses must understand the needs and wants of their customers and prospects. A strong brand is invaluable to a business. Branding for business-to business (B2B) and business-to-consumer (B2C) are similar, but differ in the process, approach and outcome. A B2B company is any business who sells primarily to other businesses. A B2C company is one who sells primarily to the end customer. B2B businesses are relationship driven while B2C businesses are product driven. B2B businesses have a small, focused target market which results in a multi-step buying process and longer sales cycle. The brand identity is created on a personal relationship. B2C businesses have a large target market resulting in a single step buying process and shorter sales cycle. Their main goal is to convert shoppers into buyers as quickly as possible. The brand identity is created through repetition and imagery (Murphy, 2007). A strong brand is crucial for both B2B and B2C markets for different reasons. In B2B markets, a strong brand will help business be considered, but not chosen. In a B2C market, a strong brand convinces a consumer to buy, as well as stay loyal and potentially pay a higher price in the future (Murphy, 2007). In a B2B market, branding is a more difficult and complex process. Business buyers are already well educated on the product or service being offered and are more rational in their selection process. They are mainly motivated by cost saving and increasing productivity and profitability. In a B2C market, a brand is looked at in the aspect of status. Consumers are strongly motivated by desire, style and prestige and are willing to pay more for the brand. Some examples of these brands are Mercedes, Nike or Rolex (Murphy, 2007). Branding in B2B market and B2C markets have some clear difference in the process, approach and outcome. On one side, B2B brands greatly depend on personal representation. People are constantly interacting together and building relationships. On the other side, B2C brands have difficult expectations. Consumers are mostly only concerned with the product or service needed, not having a personal relationship with the person or persons behind the product. Therefore, it would be in the best interest for the B2B business to focus on creating a brand that shows their target market the value of the product or service offered. B2C businesses should create a brand that builds awareness of the product or service and shows quality and best price.
Kotler, P., & Keller, K. (2012). Marketing management
. (14 ed., pp. 25-26). New York, NY: Prentice Hall.
Murphy, D. (2007, April 06). Marketing for b2b vs. b2c – similar but different
. Retrieved from http://masterful-marketing.com/marketing-b2b-vs-b2c/

2.
Cisco Systems is well known as a leader in supplying networking equipment for the internet. It no longer wants to be known only as a company who manufactures switches and routers. In recent years, Cisco has launched a campaign that reaches out to the consumer. With the acquisition of many companies such as Linksys in recent years into its core business, Cisco has executed a viable plan to reposition its brand into the consumer market. Successfully executing this plan will enable Cisco to enter into new markets such as consumer electronics, business collaboration software and computer servers. This will enable…