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Branding Strategies Essay

431 words - 2 pages

Our text states,” A brand is a name, a term, symbol, our any other unique
element of a product that identifies one’s firm product(s) and sets it apart
from the competition.” Companies depend on their products being
identified and purchased by consumers by way of these brandings.

When deciding upon a name, brand our symbol the company has to
make sure that it is memorable, easy to say and recognizable to the
consumer. Companies first use the “easy” test; easy on the eye, easy to say,
easy to remember and easy to read.

Prym Consumer USA Inc., (formerly Dritz), a sewing notions and craft company
located in South ...view middle of the document...

In the past fifteen
years or so, crafting along with sewing and quilting has become one of the
most popular hobbies and pastimes outside of paper crafting. As the needs grew,
so did Dritz. Later, they change the name due to the changes, needs and market
of their consumers. They now sell with other brand names, all created by one
company. The strategies used by the company were individual, family, store
and national brand. The Prym/Dritz name is a registered and licensed trademark.

There are several other names/brands under their umbrella. Collins, Sewing
Basket, Quilting Basket, Fons and Porter and many other brands are sold under
Prym. In order the stay above the competition and identify with all those who
would have a need for their products, Prym changed their look in their packaging
to attract particular groups. The Sewing and Quilting Basket brand is exclusive to
Michaels Stores Inc., and Sewology is exclusive to Hobby Lobby. Both products
made by Prym. These items offer the same durable and dependable usefulness
but can be purchased at a cost savings. Also, Prym has adopted the cross brand
strategy. Loops and Threads is a brand name with Michaels, but Prym creates
and manufactures the items that carry the name.

References; Marketing: Real People, Real Choices, Fifth Edition, by Michael R. Solomon, Greg W. Marshall, and Elnora W. Stuart. Published by Prentice Hall.
Prym Consumer USA Inc. North Carolina, Prym.com
Michaels Stores Inc. Irving, Texas Michaels.com

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