(a) List out and discuss the relevance and rational of branding. Bring out the relationship of the three concepts namely positioning, product differentiation and market segmentation with a suitable example of your choice.

(b) Discuss the concept of Brand equity. Comment on the importance of packaging and labelling.

Word Count : 680

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Product Management: Relevance and Rationale of Branding

(a) Branding, Positioning, Product Differentiation, and Market Segmentation

Branding plays a pivotal role in the realm of product management, acting as the face and personality of a product or service. It involves creating a unique and recognizable identity for a product through the use of symbols, names, and design elements. The relevance and rationale of branding are multifaceted, impacting consumer perceptions, loyalty, and overall market positioning.

Relevance of Branding:

1. Consumer Recognition and Trust: A strong brand creates a visual and emotional connection with consumers. When a brand is well-established and consistent, consumers are more likely to recognize, trust, and choose that brand over competitors.

2. Differentiation and Positioning: Effective branding aids in product differentiation and positioning. It helps a product stand out in a crowded market by communicating ___ ____________ _____ ______ _____ _____________ ___________ _____ ____________ _______ ____ __________.
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Degree : MASTER DEGREE PROGRAMMES
Course Name : Master in Business Administration
Course Code : MBA
Subject Name : Product Management
Subject Code : MS 63
Year : 2022