Btranding Essay Example | Topics and Well Written Essays - 2000 words

Btranding - Essay Example An organization attracts and maintains a base of loyal customers by promoting their prestige, image, value and lifestyle through the efforts of branding. A number of studies have shown that proper branding leads to higher sales of the products and other services associated with the brand (Hill, 2008). For example, if a customer likes Dairy Milk, a brand of Cadbury, he or she is more likely to taste Bourneville as well. A good brand has the ability to deliver the messages of the company to its target audiences, influence and motivate the buyers, confirms the credibility of the firm and emotionally connects with the target population. However, to achieve success by means of proper branding practices, it needs to understand the needs and wants of the customers (Clarke, 2001). It is often argued that a brand resides in the mind and the heart of a consumer and positively influences customer purchase behaviour, but few academicians disagree to this fact and deem that a brand image can infl uence the purchase negatively as well (Knox and Denison, 2000). This report seeks to analyse the opportunities for development of a particular brand. However, prior to the identification of the opportunities of the brand, the study will review and identify the weak points and challenges of the brand. On the basis of the findings and analysis, the study will elucidate the required changes in the brand and rebranding will serve the purpose of the company. The brand chosen for this purpose is Benefit cosmetics. A brief synopsis of the brand is presented below in order to help the reader understand the same. Benefit Cosmetics: A Brief Synopsis Benefit Cosmetics is a brand named after its company, Benefit Cosmetics LLC. The company is presently headquartered in San Francisco, California and was founded in the year 1976 (Benefit Cosmetics, 2013). The company specializes in offering beauty solution to the customers across several parts of the world. One of the key selling points of the com pany is their creative and vibrant packaging. Presently, the company operates in 35 countries and has successfully delivered the required services to the customers. Studies have shown that the brand has been performing well since the last few years and their financial situation reflects the same. One of the essential characteristics of the products of Benefit is that they are manufactured with natural ingredients and as a result of that, the products hardly have any negative skin effects. According to the experts of this industry, it is the quality of Benefit and instant solution capability that has made the brand a household name and a ‘must-have’ beauty product across the consumers of the world. Brand Analysis In this section, analysis of the brand, Benefit Cosmetics, will be carried out in order to identify the possible challenges and weaker areas of the brand (Kautish, 2011). In addition with this analysis, the study also seeks to underpin the opportunities of the b rand. The brand will be analysed by considering certain parameters and factors that lead to higher brand value. Furthermore, brand analysis also has the ability to pin down the current state of a brand. This will help in satisfying both the aforementioned intentions. The factors to be considered in this context are emotional value, brand awareness, brand image, purchase intention, brand loyalty and perceived