1. Describe the relationship between branding and marketing.
The relationship between branding and marketing is an essential relationship. Although the two go hand in hand, they are different concepts. Branding is about giving the product value and basically a personality. Marketing are the stages of communicating the brand to the its audience. "Marketing supports the development of brands in all of its stages."
2. How does the decision-making process differ between that of luxury brands and mass-market brands?
The decision making process can differ between luxury and mass-markets because the value and quality of the products are different. Luxury brands with make decisions on how to keep their brand luxurious and high quality. Mass-market brands will concentrate on how to inexpensively and efficiently sell their merchandise and keep up with trends.
3. Explain the meaning of “brand identity” and highlight its role in the positioning strategy.
A product is given a brand identity which reflects the brands values. The identity helps the brand become distinguished and communicate its benefits to customers. Brand identity is the "meaning of the brand."
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