GCSE Business Studies

• Unit 1• Introduction to Small Businesses

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1.4 Making the Start- Up Effective

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Lesson Objectives

• To understand the importance of customers

• To appreciate

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What’s the FIRST BRAND you think of when you see this colour?

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What’s the FIRST BRAND you think of when you see this colour?

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What’s the FIRST BRAND you think of when you see these colours?

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What’s the FIRST BRAND you think of when you see this colour?

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What’s the FIRST BRAND you think of when you see this colour?

What’s the FIRST BRAND you think of when you see this colour?

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Starter

• Circle the correct logos in your booklets

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Which is the right logo?

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Which is the right logo?

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Which is the right logo?

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Which is the right logo?

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Branding

• Definition: A brand is a product with unique character, for instance in design or image. It is consistent and well recognised.

Think: How many brands have you used today? (Breakfast, lunch, clothes etc)

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Consumers have choices between branded products and own brand productsWhich product would use choose?

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Brands vs Own Brand

• http://www.bbc.co.uk/learningzone/clips/branding-building-the-value/12269.html

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Why is branding important?Advantages:• Inspires customer loyalty leading to repeat sales

and word-of mouth recommendation• The brand owner can usually charge higher prices,

especially if the brand is the market leader• Retailers or service sellers want to stock top selling

brands. With limited shelf space it is more likely the top brands will be on the shelf than less well-known brands.

• Adds value• Successful brand names CAN link to product (e.g. a

“Hoover”)• Can Launch complimentary products in same brand

name – e.g. shampoo; conditioner; hairspray.

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effec

tiveDisadvantages:

• It costs a Lot of money in advertising and promotion to establish a brand image

• A brand image can be copied (or almost copied) and exploited by other companies

• If the brand gets bad publicity it has much larger impliations