A brand is a name, term, sign, symbol, or design, or some combination of these elements, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors. The different components of a brand — brand names, logos, symbols, package designs, and so on — are brand elements. Nội dung chính Brands offer a number of benefits to customers and firms. Brands are valuable intangible assets that need to be managed carefully. The key to branding is that consumers perceive differences among brands in a product category. Brand equity should be defined in terms of marketing effects uniquely attributable to a brand. That is, brand equity relates to the fact that different outcomes result in the marketing of a product or service because of its brand, as compared to the results if that same product or service was not identified by that brand. Building brand equity depends on three main factors: (1) The initial choices for the brand elements or identities making up the brand; (2) the way the brand is integrated into the supporting marketing program; and (3) the associations indirectly transferred to the brand by linking the brand to some other entity (e.g. the company, country of origin, channel of distribution, or another brand) Brand equity needs to be measured in order to be managed well. Brand audits are in depth examinations of the health of a brand and can be used to set strategic direction for the brand. Tracking studies involve information collected from consumers on a routine basis over time and provide valuable tactical insights into the short-term effectiveness of marketing programs and activities. Brand audits measure “where the brand has been, and tracking studies measure where the brand is nowâ€? and whether marketing programs are having the intended effects. A branding strategy for a firm identifies which brand elements a firm chooses to apply across the various products it sells. In a brand extension, a firm uses an established brand name to introduce a new product. Potential extensions must be judged by how effectively they leverage existing brand equity to a new product, as well as how effectively the extension, in turn, contributes to the equity of the existing parent brand. Brands can play a number of different roles within the brand portfolio. Brands may expand coverage, provide protection, extend an image, or fulfill a variety of other roles for the firm. Each brand name product must have a well defined positioning. In that way, brands can maximize coverage and minimize overlap and thus optimize the portfolio. We noticed that you are using Internet Explorer 11 or older that is not support any longer. Please consider using an alternative such as Microsoft Edge, Chrome, or Firefox. A brand is a name, term, design, symbol or any other feature that identifies one seller’s goods or service as distinct from those of other sellers. What Is a Brand?The term brand refers to a business and marketing concept that helps people identify a particular company, product, or individual. Brands are intangible, which means you can't actually touch or see them. As such, they help shape people's perceptions of companies, their products, or individuals. Brands commonly use identifying markers to help create brand identities within the marketplace. They provide enormous value to the company or individual, giving them a competitive edge over others in the same industry. As such, many entities seek legal protection for their brands by obtaining trademarks. Key Takeaways
Brand EquityUnderstanding BrandsAs mentioned above, a brand is an intangible asset that helps people identify a specific company and its products. This is especially true when companies need to set themselves apart from others who provide similar products on the market, including generic brands. Advil is a common brand of ibuprofen, which the company uses to distinguish itself from generic forms of the drug available in drugstores. This is referred to as brand equity. People often confuse logos, slogans, or other recognizable marks owned by companies with their brands. While these terms are often used interchangeably, they are distinct. The former are marketing tools that companies often use to promote and market their products and services. When used together, these tools create a brand identity. Successful marketing can help keep a company's brand front and center in people's minds. This can spell the difference between someone choosing your brand over your competitor's. A brand is considered to be one of the most valuable and important assets for a company. In fact, many companies are often referred to by their brand, which means they are often inseparable, becoming one and the same. Coca-Cola is a great example, where the popular soft drink became synonymous with the company itself. This means it carries a tremendous monetary value, affecting both the bottom line and, for public companies, shareholder value This is why it's important for companies to protect their brands from a legal standpoint. Trademarks identify exclusive ownership over a brand and/or product, along with any associated marketing tools. Registering trademarks prevent others from using your products or services without obtaining your permission. Special ConsiderationsBrands aren't just for corporate use. In fact, they are now also commonly used by individuals, especially in the age of reality television and social media. For instance, the Kardashian family developed value in its brand after gaining popularity from the reality show. The family has, collectively and as individuals, used its name to successfully launch media and modeling careers, spinoff shows, cosmetics, perfumes, and clothing lines. Experts believe branding will play a key role in the recovery of the corporate world in response to the COVID-19 pandemic. History of BrandsBrands have long been used to set products apart over the course of history. The idea of branding may go as far back as 2000 B.C., where merchants used it to sell their wares in different markets. At that time, it was commonly used as a technique to denote ownership of a product or a piece of property. Branding has been used throughout the ages. In the 13th century, Italians began putting watermarks on their paper as a form of branding. The term brand also refers to the unique marks burned into the hides of cattle to distinguish the animals of one owner from those of another. But one of the most popular uses was in rural America. You've probably heard of the term branding, which was used by cattle ranchers, who used to brand their livestock as a form of identification. Brands started taking off after companies started packaging their goods in the 19th century to distinguish themselves from other companies. Types of BrandsThe type of brand used depends on the particular entity using it. The following are some of the most common forms of brands:
Creating a BrandWhen a company settles on a brand to be its public image, it must first determine its brand identity, or how it wants to be viewed. For instance, a company logo often incorporates a company's message, slogan, or product. The goal is to make the brand memorable and appealing to the consumer. The company usually consults a design firm, team, or logo design software to come up with ideas for the visual aspects of a brand, such as a logo or a symbol. A successful brand accurately portrays the message or feeling the company wants to get across. This results in brand awareness, or the recognition of the brand's existence and what it offers. On the other hand, an ineffective brand often results from miscommunication. Once a brand has created positive sentiment among its target audience, the firm is said to have built brand equity. Some firms with brand equity and very recognizable product brands include Microsoft, Coca-Cola, Ferrari, Apple, and Meta (formerly Facebook). If done right, a brand results in an increase in sales not just for the specific product being sold, but also for other products sold by the same company. A good brand engenders trust in the consumer, and, after having a good experience with one product, the consumer is more likely to try another product related to the same brand. As noted above, this phenomenon is often referred to as brand loyalty. Apple, Google, Microsoft, Amazon, and Meta were the most valuable brands in 2020, according to Forbes. Benefits of BrandsCreating a brand provides numerous benefits, whether that's to a corporation or an individual. Successful branding leads to a lot of impressions. But what does this mean? A company that can get its message across is able to induce and evoke emotion within its customer base. These consumers develop unique relationships with these companies, allowing the latter to capitalize on their loyalty. Companies also rely on these customers to help draw in other, new consumers. This helps companies build trust and credibility. After all, people are more apt to purchase goods and services (or brands) from companies they know and trust. This gives companies a competitive edge against their competition. Keeping brands in the minds of consumers means a bigger bottom line. It also helps corporations introduce newer products and services. Since consumers are going to stay loyal to brands they know and trust—and with whom they already have a relationship—they're more likely to spend when new products are released, even if they're more expensive. Let's use Apple as an example. The company has built a hugely loyal customer base that is willing to overlook the price tag associated with an iMac, MacBook, iPad, or iPhone because of their loyalty to the brand. Many existing customers are completely willing to replace their existing electronics when the company releases new ones. Brand FAQsWhat Does Brand Mean in Marketing?A brand is an intangible concept that helps people (notably consumers) recognize and identify a particular company, product, or individual. What Are 4 Types of Brands?There are numerous types of brands, but the four most common ones include corporate brands, personal brands, product brands, and service brands. What Are Brand Examples?Although brands are generally intangible, we often associate things like products and names with brands. Examples include Apple, Nike, Coca-Cola, Advil, and Tylenol. What Is the Importance of a Brand?Brands are important because they create value for corporations and individuals. They also provide a competitive edge in the market against an entity's competition. Successful branding augments a company's customer base, which creates trust and credibility, leading to brand loyalty—all of which give a company a competitive edge in the market and a bigger bottom line. What Does Brand Equity Mean?Brand equity is a concept that refers to the value generated from a company's product or service when it is compared to a generic equivalent that is available to consumers on the market. Think of Advil compared to its generic ibuprofen counterparts on drugstore shelves. The Bottom LineWhen we hear the word "brand," most of us think of logos, slogans, and other identifiable marks. But that's just one part of the definition. The term brand is actually an intangible marketing concept that helps people recognize and identify a business or person. Brands are one of the most important and valuable assets that a company or person owns. They can make or break a company, so it's important that firms do their research before launching a product or service, or before they open their doors for business. Successful branding can help the company attract and retain a customer base, which can lead to brand loyalty while giving it a leg up on the competition. Is a name Term sign symbol design or a combination of these elements that identifies the products or services?Brand is a name, term, sign, symbol, design, or a combination of these, that identifies that maker or seller of a product or service. Is a name a term a sign a symbol a design or a combination of any or all of them that identify goods services and companies 1 point?A brand is a name, term, sign, symbol, design or some combination of them, used to identify the products of one seller or group of sellers and to differentiate them from those of the competitors. What is the term for names symbols terms and designs that help customers identify and differentiate companies products?brand names, logos, symbols, package designs, etc. —are brand elements. Which of these is a name Term symbol design or combination of that identifies a seller's products and differentiates them from competitors products?A brand is a name, term, symbol, design, or a combination of these that identifies a seller's products and differentiates them from competitor's products. Is a name a term a sign a symbol a design or a combination of any or all of them that identify goods services and companies?According to the American Marketing Association (AMA), a brand is a 'name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition'.
Is a name Term sign symbol or design or a combination of these elements that is intended to identify the goods or services of one seller or a group of sellers?A brand is a name, term, sign, symbol, design, or a combination of these elements that is intended to identify the goods and services of a seller and differentiate them from those of competitors. A brand name is the part of the brand that can be vocalized.
Which of these is a name Term symbol design or combination of that identifies a seller's products and differentiates them from competitors products?A brand is a name, term, symbol, design, or a combination of these that identifies a seller's products and differentiates them from competitor's products.
What is a name sign symbol term or design associated with a company?A brand is the idea or image of a specific product or service that consumers connect with, by identifying the name, logo, slogan, or design of the company which owns the idea or image. This helps the consumer to differentiate the brand from those of competitors.
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Is a name Term sign symbol design or a combination of these elements that identifies the products or services?
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