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 ...view middle of the document...
When we talk about brand, it is all about some unique signs, symbols, words, or a combination of these, employed in creating an image that identifies a product and differentiates it from its competitors. Over time, this image becomes associated with a level of credibility, quality, and satisfaction in the consumer's mind. Thus brands help harried consumers in crowded and complex marketplace, by standing for certain benefits and value.
However, not all the products can be brandable or it is very difficult to make them brandable. In the case of fishery products, we deal probably with commodity brand. Commodity brand is connected with a common product that is difficult to make different from its competitors. If a company wants to create a brand for fish products, it is necessary to first identify or devise ways to create unique attributes and unique promises of value offered solely by this company and its product offering. Despite the fact that Al Marsa has managed to build up a reputation of a company supplying exceptionally fresh products of a wide diversity, it is still difficult to speak about the brand. The important factors are that first not all the fish the company sells is processed and second that Al Marsa works with different species of fish. We suppose that if Al Marsa wants to make its products really brandable, it is important to create added value to the raw products like fish and maybe focus on a narrow number of fish species.
There is a question if branding is appropriate for a B to B business. We suppose that in most business to business markets, the B2B brand of any value is most often the name of the company itself and the product labels that try to pass as brands could just as easily be numbers or codes. This way it is first of all the company name that is the brand and that customers think of....