Brand
A brand is a name, term, symbol, sign, pattern, or any combination thereof, combinations of colors, the melody or the combination of all these elements used to differentiate the product from other competing products. It may consist of a part of the verbal (name) and nonverbal (symbol, logo). Composing verbal part of the brand we use words to recall your specific associations, the names of cities, countries and regions, names of animals (Jaguar, Mustang). The names are also derived from the literature, music and history or mythology. Non-verbal part create symbols, geometric figures, the specific shape of letters and numbers or colors.
The functions of the brands are
- identification function - consists in distinguishing the product from goods and services competition
- guarantee function - the proprietor undertake to maintain the quality of the product at a certain level.
- promotion function - as a promotional tool should capture the attention of consumers and get them to purchase
Brand strategies
- Personal Brand Strategy. It occurs when different product types are distinguished by separate brands
- Strategy family of brands. It involves releasing all the products on the market or individual families of products under one brand
- Common brand for product groups. Sets a brand for separate groups of products for the whole family, and even individual lines
- Mixed Strategies. There are, for example in the case of connection the brand name of the company
How to choose a Brand?
Mark, as the word chosen by the company managers to promote their products:
- should suggest the benefits of efficiency, quality of the product and its ability to meet customers needs,
- should be easy to remember, pronounce, recognize,
- should be distinct from the brands of competitors,
- should not mean anything negative in other languages.
Advantages and disadvantages of having a strong brand
Advantages:
- lower marketing costs due to increased customer confidence and higher brand loyalty,
- maintain a higher level of prices, because its quality is seen above,
- ease of expansion of product lines,
- protection at competitive pricing.
Disadvantages:
- high costs of promotion, advertising, commercial service,
- the need of continuous testing and development,
- the need to continuously look for differences between the products.
Examples of Brand
- Apple: Apple is an American technology company that designs, develops, and sells consumer electronics, computer software, and online services. The company’s best-known hardware products include the iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple is also known for its iconic logo, which features an apple with a bite taken out of it.
- Nike: Nike is an American multinational corporation that designs, manufactures, and markets athletic apparel, footwear, and accessories. Founded in 1964, Nike has become a global leader in the production and marketing of sports apparel and equipment. The company’s iconic "swoosh" logo is instantly recognizable and synonymous with quality and performance.
- McDonald's: McDonald's is an American fast-food restaurant chain that is the largest in the world. Founded in 1940, the company is best known for its signature menu items such as hamburgers, French fries, and Happy Meals. McDonald's is also known for its iconic golden arches logo, which has become a symbol of the brand.
A brand is much more than just a name, term, symbol, sign, pattern, or combination of colors. It is an entire experience and identity that a company creates to differentiate its product or service from the competition. The following are some of the other approaches related to brand:
- Brand Storytelling: This approach involves crafting an engaging story that captures the essence of the brand and conveys its values, beliefs, and mission.
- Brand Messaging: This approach involves creating messages that are clear, consistent, and congruent with the brand's identity and purpose.
- Brand Positioning: This approach involves strategically positioning the brand in the market to differentiate it from competitors.
- Brand Activation: This approach involves creating experiences that engage customers and create an emotional connection to the brand.
- Brand Management: This approach involves monitoring and managing the brand to ensure that it remains relevant and competitive in the marketplace.
In summary, a brand is much more than just a name or logo. It encompasses the entire experience, identity, story, message, positioning, activation, and management of the product or service.
| Brand — recommended articles |
| Luxury item — Components of brand — Product line pricing — Prestige pricing — Private label products — Basic product — Product differentiation strategy — Importance of brand — Differential advantage |
References
- Atwal, G., & Williams, A. (2009). Luxury brand marketing-the experience is everything!. Journal of Brand Management, 16(5), 338-346.
- Christodoulides, G. (2009). Branding in the post-internet era. Marketing Theory, 9(1), 141-144.
- Blomqvist, K. H., & Posner, S. (2004). Three strategies for integrating CSR with brand marketing. Market Leader, (Summer), 33-6.
Author: Małgorzata Malada
