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What is 'Brands'
Definition: A brand is a name given to a product and/or service such that it takes on an identity by itself.
Description: In today's marketplace teeming with thousands of products and services, all of which are being rapidly commoditized, a brand stands out from the clutter and attracts attention.
A brand name can create and stand for loyalty, trust, faith, premium ness or mass-market appeal, depending on how the brand is marketed, advertised and promoted.
A brand differentiates a product from similar other products and enables it to charge a higher premium, in return for a clear identity and greater faith in its function. A brand is also likely to survive longer than just an undifferentiated product.
A brand is akin to a living being: it has an identity and personality, name, culture, vision, emotion and intelligence. All these are conferred by the owner of the brand and needs to be continuously looked at to keep the brand relevant to the target it intends to sell to.
Description: In today's marketplace teeming with thousands of products and services, all of which are being rapidly commoditized, a brand stands out from the clutter and attracts attention.
A brand name can create and stand for loyalty, trust, faith, premium ness or mass-market appeal, depending on how the brand is marketed, advertised and promoted.
A brand differentiates a product from similar other products and enables it to charge a higher premium, in return for a clear identity and greater faith in its function. A brand is also likely to survive longer than just an undifferentiated product.
A brand is akin to a living being: it has an identity and personality, name, culture, vision, emotion and intelligence. All these are conferred by the owner of the brand and needs to be continuously looked at to keep the brand relevant to the target it intends to sell to.
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