This paper investigates short-run and long-run impact of product branding on sales revenues of Unilever (Ghana) Limited. The paper focused on Unilever (Ghana) Limited because it is one of the distribution companies listed on Ghana Stock Exchange with more strategic focus on product branding. Time series regression was used to investigate the impacts of product branding on sales revenue and data covered 1984-2014 financial years. The paper adopted VECM for impact estimation. The results indicate that product branding has long-run positive impact on sales revenue but did not have significant short-run impact on sales revenue. The paper recommends a continuous product branding to ensure sustainable growth in sales volumes and higher profits.
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The end result of this for marketers and firms is to create more product differentiation to avoid their products being seen as commodities. To cope with this increasing demand, firms and marketers have intensified the branding of their products to be unique from their competitors (Mitchell et al, 2001). One of the strategies is product branding. Product branding involves the process of creating unique name and image for a product in the minds of customers. This makes a product unique from other products, thereby differentiating products in monopolistic market. Product branding comprises of design, logo and messaging. The idea of product branding is to trigger an emotional connection in consumers and this connection will last throughout the whole life of the product (Xie and Boggs, 2006). It makes product have unique image and identity and this makes firms to position all their products differently. Blair (2013) added that product branding helps in market segmentation, customer franchising and faciltates purchasing of …show more content…
It involves the process of distinguishing a firm’s product from competing products offered for sale. Harris and de Chernatony (2001) have identified six elements of product branding as brand domain, brand value, brand heritage, brand assets, brand reflection, brand personality and Other brand elements include logos and symbols, packaging and slogan. Brand name properties have been extensively studied by scholars like Klink (2000), Yorkston and Menon (2004), Zhang and Schmitt (2001) and Tavassoli & Han (2002). However, logo design and other visual properties have not been thoroughly reviewed in academic research. In recent times, Packaging is receiving greater academic research attention (Folkes and Matta,
The end result of this for marketers and firms is to create more product differentiation to avoid their products being seen as commodities. To cope with this increasing demand, firms and marketers have intensified the branding of their products to be unique from their competitors (Mitchell et al, 2001). One of the strategies is product branding. Product branding involves the process of creating unique name and image for a product in the minds of customers. This makes a product unique from other products, thereby differentiating products in monopolistic market. Product branding comprises of design, logo and messaging. The idea of product branding is to trigger an emotional connection in consumers and this connection will last throughout the whole life of the product (Xie and Boggs, 2006). It makes product have unique image and identity and this makes firms to position all their products differently. Blair (2013) added that product branding helps in market segmentation, customer franchising and faciltates purchasing of …show more content…
It involves the process of distinguishing a firm’s product from competing products offered for sale. Harris and de Chernatony (2001) have identified six elements of product branding as brand domain, brand value, brand heritage, brand assets, brand reflection, brand personality and Other brand elements include logos and symbols, packaging and slogan. Brand name properties have been extensively studied by scholars like Klink (2000), Yorkston and Menon (2004), Zhang and Schmitt (2001) and Tavassoli & Han (2002). However, logo design and other visual properties have not been thoroughly reviewed in academic research. In recent times, Packaging is receiving greater academic research attention (Folkes and Matta,