GCSE Business Studies Unit 1 Introduction to Small Businesses GCSE Business Studies Unit 1 Introduction To Small Businesses 1.4 Making the Start- Up Effective
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective Lesson Objectives To understand the importance of customers To appreciate
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective What’s the FIRST BRAND you think of when you see this colour?
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective What’s the FIRST BRAND you think of when you see this colour?
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective What’s the FIRST BRAND you think of when you see these colours?
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective What’s the FIRST BRAND you think of when you see this colour?
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective What’s the FIRST BRAND you think of when you see this colour?
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective Starter Circle the correct logos in your booklets
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective Which is the right logo?
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective Which is the right logo?
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective Which is the right logo?
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective Which is the right logo?
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective 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)
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective Consumers have choices between branded products and own brand products Which product would use choose?
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective Brands vs Own Brand branding-building-the-value/12269.html
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective 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.
GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Making the start-up effective Disadvantages: 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