International Marketing

What is the differences between product and brand ?

There are several fundamental differences between a brand and a product (or a service). If you can make the distinction between the following differences, you’re on your way to understanding brands vs. products.

Of course, it’s important to understand that popular products can become brands unto themselves and brand names can be used to refer to products. While it can get a bit confusing, the fundamental differences between products and brands identified below should help you clear up some of that confusion.

A product is made by a company and can be purchased by a consumer in exchange for money while brands are built through consumer perceptions, expectations, and experiences with all products or services under a brand umbrella. For example, Toyota’s product is cars. Its umbrella brand is Toyota and each product has its own more specific brand name to distinguish the various Toyota-manufactured product lines from one another. Without a product, there is no need for a brand.

When you launch a new product, it’s easy to make that product instantly meaningful and useful to consumers because it serves a specific function for them. However, a brand is meaningless until consumers have a chance to experience it, build trust with it, and believe in it. That’s why the 3 steps to brand building include consistency, persistence, and restraint. It takes time and effort to convince consumers to believe in your brand.

How do local,international,and global products differ ?

A local product or brand is perceived to have potential in a single national or regional market. Coca-Cola’s Georgia-brand canned coffee is an example cited in the text. Vegemite is a vegetable food spread popular only in Australia. I

International products or brands are those originally intended for a single home-country market or a specific geographic region; however, marketers are aware of extension possibilities. For example, GE recently experienced...