What is brand, and how does branding work?

Brand A brand is a name, term, sign, symbol, design, or

some combination of these elements, intended to identify the goods and

services of one seller or group of sellers and to

differentiate them from those of competitors.

Different components of a brand are:Brand namesLogos Symbols Package design

Brand Elements

Role of Brands

Brand for a Consumer Brand for a Firm Brand for a Product

Role of Brands

Brands identify the source or maker of a product and allow consumers to assign responsibility for its performance to a particular manufacturer or distributor.

Brand for a Consumer

They simplify product handling.

Help to organize inventory and accounting records.

Offers legal protection for unique features or aspects of the product.

Brand for a Firm

Signifies a certain level of quality which convinces buyers to choose the product again and again hence winning the trust of consumers and barring the entrance of any other competitive firm.

Brand for a Product

Scope of Branding

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

Scope of Branding

Shreya Shwetima From – IITB

Thank You