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What is Brand ?
The word brand is derived from the Old Norse word brandr, which means to burn. The legal term for brand is Trademark. In its simplest definition, it is a name, term, symbol, feature or any combination of these. It is used/employed to identify the distinctiveness (special) of an offering (i.e., product, service, brand) from those of competitors.
Contd
Branding simplifies the complexity of the offering via brand elements such as:
Brand names Logos Symbols Package designs These specific characteristics are known as BRAND ELEMENTS Branding helps in the thought processes of consumers when they are considering purchasing or purchasing an offering.
BRAND vs PRODUCTS
A Product is anything we can offer to a market for attention , acquisition use or consumption that might satisfy need or want.eg are Physical good- Automobile , biscuit, mineral water Services- airlines, bank, insurance, internet search engines A person- entertainer, actor, professional An organization-non profit org ,trade org, art group
Product
Physical good A personServicesAutomobile , biscuit, mineral water airlines, bank, insurance, internet search engines Entertainer, Actor, professional
Brand
Toyota ALTIS, Parle G, Bisleri ,Kilney British Airlines , Bank of America, Yahoo, Google Shahrukh Khan, Michel Jackson, Waren Buffet, David Beckham Red Cross,
A person
An organization-
Conclusion
A brand is therefore more than a product because it can have dimensions that differentiate it in a some way from other products designed to satisfy the same need