Branding: a trend for today and tomorrow
| Date | 01 October 1995 |
| DOI | https://doi.org/10.1108/10610429510097690 |
| Published date | 01 October 1995 |
| Pages | 48-55 |
| Author | Joseph Arthur Rooney |
| Subject Matter | Marketing |
48 JOURNAL OF PRODUCT & BRAND MANAGEMENT VOL. 4 NO. 4 1995 pp. 48-55 © MCB UNIVERSITY PRESS 1061-0421
Introduction
Organizations are using branding as a strategy tool in today’s business
environment with increasing regularity. Although brands and branding are
not new ideas, firms are applying them to more diverse settings where the
role of branding is becoming increasingly important (Wentz and Suchard,
1993). The traditional role for brands is also experiencing rejuvenated
interest. Market analysts generally agree that this trend will continue and be
part of a formula for successful firms in the future (Norris, 1992).
One definition for a brand has been offered in the Journal of Marketing
Management by Professor Peter Doyle of Warwick University: “A name,
symbol, design, or some combination which identifies the product of a
particular organization as having a substantial, differentiated advantage”
(O’Malley, 1991, p. 107). To many, a brand suggests the best choice
(Ginden, 1993), while others see a brand as something the customer knows
and will react to (The Economist, 1988). Despite the formal definition, the
purpose of branding is essentially to build the product’s image (Cleary,
1981). This image will influence the perceived worth of the product and will
increase the brand’s value to the customer, leading to brand loyalty (The
Economist, 1988).
Organizations develop brands as a way to attract and keep customers by
promoting value, image, prestige, or lifestyle. By using a particular brand, a
consumer can cement a positive image (Ginden, 1993). Brands can also
reduce the risk consumers face when buying something that they know little
about (Montgomery and Wernerfelt, 1992). Branding is a technique to build
a sustainable, differential advantage by playing on the nature of human
beings. Only humans can attach meaning and feeling to inanimate objects
and a random collection of symbols, which suggests the appeal of branding
is not entirely rational (O’Malley, 1991). Once consumers become
accustomed to a certain brand, they do not readily accept substitutes
(Ginden, 1993). Organizations seek ways to take full advantage of this
human trait – thus the popularity of branding.
Branding is not the answer to all the problems facing businesses today.
There are substantial negatives to branding that must be considered.
However, if branding is carried out correctly, the advantages outweigh the
problems (Lorenzini and McCarthy, 1992). A good brand will give the
customer value for the dollar and give employees the satisfaction and
confidence in their products (O’Malley, 1991). Strong branding can also
accelerate market awareness and acceptance (Berry et al., 1988) of new
products entering the market.
Background
As previously mentioned, the use of branding by big business is not a new
idea. Business historians agree that branding itself is over 100 years old,
Branding: a trend for today and
tomorrow
Joseph Arthur Rooney
Brand definition
Market awareness and
acceptance
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