(a)Explain branding and give two suitable examples.
(b) In which five ways does branding affect the consumer?
(a) Branding is the act of giving a distinctive name or label to product. It helps in creating, stimulating and maintaining demand for it. It is a form of advertising. Examples of branding includes: 505 ( Peugeot), BMW, Elephant blue deterge Omo, Guider, star, maltex, etc.
(b) Ways in which branding affects the consumer are:
(i) Branded goods are more costly.
(ii) Too many brands may confuse the consumer.
(iii) It encourages standardized pricing.
(iv) Branding informs the consumer about the existence of a particular product.
(v) It simplifies buying and saves time in the selection of goods or it encourage self-service
(vi) It is an assurance that the standard or quality will be maintained by the manufacturer.
(vii) The consumer place order from his home, it therefore encourages self-selection and mail -order business.
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