What is a brand and how does branding works?

What is a brand?

‘ BRAND ’ is a product or service whose dimensions differentiate it from other products designed to satisfy the same needs.

HOW DOES IT WORK ?

Jaguar and Land Rover are both automobile brands of same parent company.

Jaguar leaves an impression of sleek , exquisitely designed luxury car.

Land Rover is an off roader having a long history of use as a multi-utility vehicle.

Branding creates mental structure that helps consumers organize their knowledge about products and clarifies their decision making.

JAGUAR LAND ROVER

Luxurious, sleek Rough, Off-roader

FUNCTIONS

SIMPLIFY PRODUCT HANDLING

PREDICTABILITY AND SECURITY OF DEMAND

LEGAL PROTECTION FOR UNIQUE FEATURES

ORGANIZE INVENTORY

Branding can be applied anywhere where customer has a choice.• Physical good• Services• Person• Place• Idea

Physical goods like noodles

Services like airlines

Person like Aamir khan

Ideas like universal human rights

Branding is endowing products with power of ‘BRAND’ . It is basically creating differences between products.

DISCLAIMER

Created by ADITYA KUMAR, MNNIT ALLAHABAD , during an internship by Prof. Sameer Mathur , IIM Lucknow. www.IIMInternship.com