A SUCCESSFUL brand allows producers to build customer loyalty, facilitates promotion, and provides an identity for new product development, according to the Minister for Commerce, Science and Technology, Mr Rabbitte.

Speaking at a marketing conference organised by the Trade Board, Mr Rabbitte said relatively modest spending on brand development by small and medium companies can improve competitiveness and sales. This investment will in turn lead to an increase in market share, raise profit margins and create more jobs in the Irish economy, he said.

"Branding is not an isolated part of marketing but a core marketing resource that is essential in developing profitable new business," he said.