Branding is the key tool for marketing.
Ramu uncle stays next to my house make sweets and sell them in his shop. People residing in the locality like his sweets , famous as "Ramu Bhaiya ki mithai". He is very assiduous and passionate about his profession but caters only to small part of the locality whereas at about 5 kms of Ramu bhaiya's shop there is very prominent sweet shop "Holirams". The annual turnover of each shop is more than double of Ramu's bhaiya turnover despite the fact that there are four outlets of Holiram in the city . People belonging to higher middle class and sophisticated class prefer to buy sweet from there because of the brand name but as far as I observed Ramu bhaiya's sweets were better than those of Holirams. Here comes the notable difference between both the shops that is "branding" . Branding is the process involved in creating a unique name and image for a product in the consumers mind,by using various branding tools. Holirams was a brand wh...