Brand is the "name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers.
Initially, Branding was adopted to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin
with a hot iron stamp, and was subsequently used in business, marketing and advertising. A modern example of a brand is Coca Cola which
belongs to the Coca-Cola Company. A brand is the most valuable fixed asset of a Corporation.
Marque or make are often used to denote a brand of motor vehicle, which may be distinguished from a car model. A concept brand is a brand
that is associated with an abstract concept, like breast cancer awareness or environmentalism, rather than a specific product, service, or business.
A commodity brand is a brand associated with a commodity.
To understand branding, it is important to know what brands are. A brand is the idea or image of a specific product or service that consumers
connect with, by identifying the name, logo, slogan, or design of the company who owns the idea or image. Branding is when that idea or image
is marketed so that it is recognizable by more and more people, and identified with a certain service or product when there are many other
companies offering the same service or product. Advertising professionals work on branding not only to build brand recognition, but also to build
good reputations and a set of standards to which the company should strive to maintain or surpass. Branding is an important part of Internet commerce,
as branding allows companies to build their reputations as well as expand beyond the original product and service, and add to the revenue generated
by the original brand.
When working on branding, or building a brand, companies that are using web pages and search engine optimization have a few details to work out
before being able to build a successful brand. Coordinating domain names and brand names are an important part of finding and keeping visitors and
clients, as well as branding a new company. Coordination of a domain name and brand names lends identification to the idea or image of a specific
product or service, which in turn lets visitors easily discovery the new brand.
Co Branding
Co branding is the utilization of two or more brands to name a new product. The ingredient brands help each other to achieve their aims.
The overall synchronization between the brand pair and the new product has to be kept in mind. Example of co-branding - Citibank co-branded
with MTV to launch a co-branded debit card. This card is beneficial to customers who can avail benefits at specific outlets called MTV Citibank club.
Co-branding, also called brand partnership, is when two companies form an alliance to work together, creating marketing synergy. As described in
Co-Branding: The Science of Alliance
“ "the term 'co-branding' is relatively new to the business vocabulary and is used to encompass a wide range of marketing activity involving
the use of two (and sometimes more) brands. Thus co-branding could be considered to include sponsorships, where Marlboro lends it name to
Ferrari or accountants Ernst and Young support the Monet exhibition." ”
Co-branding is an arrangement that associates a single product or service with more than one brand name, or otherwise associates a product with
someone other than the principal producer. The typical co-branding agreement involves two or more companies acting in cooperation to associate any
of various logos, color schemes, or brand identifiers to a specific product that is contractually designated for this purpose. The object for this is to combine
the strength of two brands, in order to increase the premium consumers are willing to pay, make the product or service more resistant to copying by private
label manufacturers, or to combine the different perceived properties associated with these brands with a single product.
Once you have a product and you've figured out precisely the role it would play in a consumer's life, it's time to share that with the public. In order to inspire
potential customers to think outside the box, the Oona created a video showing their smartphone stand serving as many purposes in as many places as possible
in under three minutes. Finding the perfect words to describe an innovative product through video or more traditional forms of branding can be time consuming.
Make sure to allocate enough time before a product launch to allow for a thorough thought process, remembering that you have to build consumer understanding
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