What is brand, and how does branding work

What is brand, and how dose branding work?By Sanket Badhe

What is a Brand ?

Brand is a name, term, sign,

Symbol, or design, or a combination of Them, intended to identify the goods Or services of one seller or group And to differentiate them from those of competitors

The Earliest signs of branding in Europe were the medieval Guild’s requirement that craftspeople put trademark on their Products to protect their customer against inferior quality.

In the fine arts, branding began with artist signing their works.

The Role Of Brands

1. Brand for consumer2. Brand for Firm3. Brand for product

They simplify product handling Or tracing. brands help to organize Inventory and accounting records.A brand also offers the firm legal Protection for unique feature or aspectOf the product .

2. Brand for firm

1. Brand for consumer

Consumer may evaluate the identical product Differently depending how it is branded. TheyLearn about brands through past experiences with the product and its marketing program, finding out which brands satisfy their needs and which do not.

3. Brand for Product

A credible brand signals a certain levels Of quality so that satisfied buyers Can easily choose the product again and again. In this sense, branding can be a powerful means to secure a competitive advantage .

One research study that provoked aboutThe effects of marketing on children showed that preschoolers Felt identical McDonald’s food items-even carrot, Milk, and apple juice –tasted better when wrapped in McDonald’s familiar packaging in unmarked wrappers

The Scope of

For branding strategies to be successful and brand value to be created, Consumer must be convinced there are meaningful differences Among brands in the product or services category service category .

Brand difference often relate to attributes or benefits of the product itself

Others Brands create competitive advantage through nonproduct-related means

“Created by Sanket Badhe, IIT Roorkee, during an internship with Prof. Sameer Mathur, IIMLucknow, www.IIMInternship.com ”