1.3.2 Branding and promotion & 1.3.5 Marketing strategy GapFill

There are two main types of branding. There is the branding of companies, which is known as  corporate collective incorporated shareholder branding and might be to persuade customers that all products from that brand name can be trusted, e.g. Heinz and Kellogg's.The second type is product or service branding, which is branding of the goods, e.g. Heinz  Apple SauceMustard Vinegar Ketchup or Salad Cream and Kellogg's Corn Flakes.Once a product has reached the   decline growth withdrawal maturity phase of the product life cycle, to prevent it going into decline and withdrawal the business may seek to   responsible rebrand review reorganise  the product to reposition it in the market or to persuade customers to buy it again. Methods of rebranding include a new name, a new  symbol letter honour banner , or a new design of the product. For example, Cadbury's Dairy Milk packaging has seen many changes since its invention in 1905.The benefits of having a strong brand are that it adds value to the product, which means that the business can charge   bonus premium award value prices for the goods.Many brands have had such successful campaigns that they have become   trade names  brandnomers marks trademarks , where the product is known by the brand name.  Examples of this are Chapstick, Velcro, Bubble wrap, Sellotape and Hoover. Brands can be built by huge national TV advertising campaigns, by social media influencers    defending sanctioning supporting endorsing products and by sponsorship.  For example, Chevrolet signed a deal with Manchester United to appear on their kit; the deal is worth £450m over 7 years.