Business in Home Country

In: Business and Management

Submitted By yanaradion
Words 945
Pages 4
2 / Which branding approach would you recommend to Mr Durin?

There are several branding approaches: individual product branding, family branding, co-branding, private or store branding, no-name or generic branding, brand licensing. First of all, individual product branding doesn’t fit because it means that the product has its own brand that differs from other brands of the company. This approach requires a lot of marketing efforts. Family branding supposes placing new products under the umbrella of an existing brand. We can’t choose this approach either because the company has no long history, it was created in 2005. Then co-branding is not a good option for the same reason. As the company Al Marsa hasn’t been existing for a long time it can’t opt for partnership with another firm that has an established brand and then the synergy of two brands and which seems to be more powerful. We can’t suggest choosing no-name or generic branding either as this is a good option when consumers or business consumers purchase basic commodity-type products as low price alternatives to branded products. Brand licensing doesn’t fit as it means that the company owing the brand name allows others to produce and supply products carrying the brand name. As the company in question is engaged in B to B business and isn’t still well-known by the end-consumers, and as it has strong positions thanks to the high demand from the business part, we suggest to M. Durin choosing private or store branding. It will mean that Al Marsa will continue leading B to B activity and the companies which will purchase its products will sell them then under their own brands. Is fish a “brandable” product? If a product is brandable and if the brand works, it is easier to sell it as there is a number of customers who want to buy the product only from this certain company, paying for the…...

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