NATURE OF BRAND | CHARACTERISTICS OF BRAND NAME | NATURE OF A BRAND IN MARKETING
A brand is a symbol, a mark, a name that acts as a means of communication. It brings about an identity of a given product. In other words, a brand helps a customer in instant recall differentiating it thereby from the competing products of a similar nature.
CHARACTERISTICS OF BRANDING
- A brand is simply a logo e.g Apple’s sign.
- A brand is a legal instrument. In simple words, it existing in a similar way to a patent or copyright.
- The brand is describing the name of a company like Nike, Apple.
- A brand is a confidence. Here a brand that thinks as having benefits in the mind of customers. It recognized and acts as a shortcut to providing a large chunk of information. So, when searching for a product or service less familiar surrounding, we will conduct an information search. E.g. l’Oreal etc.
- The brand is a risk reducer. Because of the brand explain to you when in an unfamiliar area or territory.
- A brand name is a positioning. It is situated in relation to other brands in the mind of the customer as better, worse, quicker etc.
- A brand is an added value or a personality, beyond function. For example, Mercedes over Maruti Suzuki, and Apple’s iPod versus just any mp3 player.
- A brand is a group or cluster of values. For example, Google or Bing is reliable, ethical, innovative and so on.
- A brand is a vision. Here managers aspire to see a brand with the group of values. In this context, vision is similar to goal or mission.
- A brand is an image where the customer perceives a brand as representing particular reality.
- A brand is a relationship where the customer reflects upon him or herself through the experience of consuming a product or service.
- The brand is an identity that includes all sorts of components depending on a brand.
ADVANTAGES OF BRAND NAME |MERITS OF BRAND NAME | PROS OF BRAND