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Category: Business and Industry

Date Submitted: 02/11/2013 03:41 AM

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What is a brand ?

A brand is a name, term, sign, symbol, or design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.

Products and services have become so alike that they fail to distinguish themselves by their quality, efficacy, reliability, assurance and care. Brands add emotion and trust to these products and services, thus providing clues that simplify consumers’ choice.

These added emotions and trust help create a relationship between brands and consumers, which ensures consumers’ loyalty to the brands. Brands create aspirational lifestyles based on these consumer relationships. Associating oneself with a brand transfers these lifestyles onto consumers.

The branded lifestyles extol values over and above the brands’ product or service category that allow the brands to be extended into other product and service categories. Thus saving companies the trouble and costs of developing new brands, while entering new lucrative markets.The combination of emotions, relationships, lifestyles and values allows brand owners to charge a price premium for their products and services, which otherwise are barely distinguishable from generics.

The Key To Branding

• For branding strategies to be successful, consumers must be convinced that there are meaningful differences among brands in the product or service category.

• Consumer must not think that all brands in the category are the same.


Brand Wars

What’s brand wars? Why are companies fighting each other? The main reason for it is that the companies are trying to get more customers and to increase their market. The aim of the battle is to get the customer to buy your product and not the product of the competitor. There are two types of customers: Active and Passive.

Active customers know what they want. And passive ones, on the contrary, have no idea of what they want and think...