BRANDING OF SERVICES
A brand can be defined as ‘a name, term, symbol or design or a combination of them which is intended to identify the goods and services of one seller and to differentiate them from those of competitors. In case of services, branding is still in its infancy. The importance of branding is expected to rise due to the following reasons:
i)Â Â Â Â Â Services itself does not offer unique tangible benefits, brand development tangibilises the service.
ii)Â Â Â Â It is cheaper to retain customers than to attract new ones.
iii)Â Â Â The new service development assumes greater importance.
Brand Awareness
Brand awareness is the ability of the consumer to recognize and recall that a service brand is an intrinsic part of the offer category. Service brands fall into the five categories according, to how much (or less) the consumer is aware of them. Some brands are not known at all by the customers, while brand awareness exists for some. At a higher plane, there are offers that have brand acceptability and those that enjoy a high degree of brand preference.
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