Title: Describe the importance of branding in marketing.
Course: Marketing (12164) > Section: Developing Product/Service Planning Skills

Description should include the definition of branding and the role a brand promise plays in an organization's marketing strategy:

- Builds product recognition
- Creates customer loyalty
- Guides business decisions
- Establishes an image
- Offers a standard of quality
- Differentiates products from their competitors
- Capitalizes on brand exposure
- Adds value to the product

Process/Skill Questions:

- What is a brand promise?
- How are events branded differently from physical products?
- What are the characteristics of effective brand names?
- What circumstances might make an organization change its brand?
- What are the benefits of common branding strategies such as brand extension, brand licensing, mixed brands, and co-branding?
- How does the picture of a brand change in the customer’s mind over time?
- How do successful companies keep up with the ever-changing landscape of brands?
- What can a company do to add value to a brand?