To the owners and stakeholders of any product, a brand and the branding process means different things but at the bottom line lies a common factor, to prove their product the best among many of the same kind. Branding nonetheless is often motivated by such things as:
- Knowing what and who the commodity is
Consumers, though with insatiable wants, tend to be very rational. They need to know the commodity they are buying and how it fits into their income constraint. Though at some point the consumer becomes oblivious to pricing, the consumer is often very keen on how much anything costs. Branding involves taking the commodity into the market and giving it a chance against other commodities. Popularity of a commodity often comes from such-allowing the consumers to choose from a wide variety of goods. Safaricom, one of the top brands in Kenya with a gross rating of $387 million is a brand that everyone knows of. That is to say, whether they venture into other industries, they will carry their popularity with them.
- Bringing clarity
Having a clear cut purpose is necessary in any brand strategy, as we have already noted previously. Moreover, branding in itself maintains clarity of the same. It reminds all stakeholders the reasons and principles by which the commodity is sold. East Africa Breweries, a top brand as well, has been in the market for so long and has kept to brewing alcoholic drinks. Branding essentially brings out a commodity and grows it.
Over and above, branding is done to increase and maintain standards and quality of a commodity-be it service or a good. Kenya Bureau of Standards (KEBS) is tasked with measuring and releasing products into the market. Branding ensures that a commodity has been made of good standards, standards that of an appealing nature both to the owners and the consumers at large.
Branding is a process, not a one day event and continues over time as it is upheld to it strategy. Its purpose, however, revolves on the product itself and its reception into the market.