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>> Describe marketing uses of branding. A brand is a name, term or symbol that identifies and differentiates a firm's

products. For example, MGM is the brand name of the Metro-Goldwyn-Mayer Movie Studio. Its brand mark is the MGM lion,

which also has a trademark roar.

[ Lion roaring ]

Implementing branding strategies results in several benefits. Successful branding creates equity in the brand.

Think of it like building monetary value from a good reputation. Established brands also encourage customer loyalty

to existing products. Brand recognition can help new products succeed. For example, a new type of iPod, say the shuffle,

will be more successful because it is tied to Apple's highlyrecognized and valuable iPod brand. Branding strategies

require several decisions. First, a marketer must decide whether to produce a generic product, a branded product or a

trademarked product. If the marketer chooses to brand the product, then the marketer chooses between becoming a

manufacturer's brand, like Kraft Mac & Cheese, or a private brand, like Kroger Mac & Cheese. Manufacturers must decide

whether to brand their products individually, as a family or use a combination of the two strategies.

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