We all have once in our life experience this situation where we had to choice which product to purchase. The products are similar in all aspect such as features and quality but you decided to purchase this particular one. Why’s that? I’m pretty sure you never thought about it.
Well, allow me tell you, why this happen. This is the Power of Branding. Brand can be name, sign, logo, symbol, event or a mixture of all these features. The main purpose of Brand is there to help to differentiates itself and its product from other companies (especially from competitors). If I put it on word, if the people cannot differentiate the brand from the competitors then it is no more than a commodity. For a Marketer such as myself, a powerful brand’s image can be used to gain competitive advantage. There are many big companies that have already well differentiate themselves with their major competitor. One example would be Coco Cola and Pepsi as they even use their branding marketing technique to forge their differences. One example of their advertisement is their marketing program for Halloween. Pepsi and Coca Cola’s brand image is so powerful that even if they put their major competitors image in their ads, their customers would easily differentiate them.
Therefore, it is important to note that branding is not something simple such as choosing a good brand name or a nice logo. It consists of all the components of the marketing mix and Promotions is the most important Ps when it comes to advertise the brand image and their product to the people. One of the strategy to improve one brand is called Participation Branding. It is about making the customers to directly engage in the evolution of the brand. One of the big example for this is Yoplait “save lids to save lives” strategy. It is a program to increase funding for a breast cancer foundation. That it, for every pink foil yogurt lid that is mailed to the company, a donation of $0.10 will be made.