Meaning of Brand
Branding has some different meanings that around for centuries as a means to distinguish the goods of one producer from those of another. Elaborately, the word brand derived from the Old word brand , which indicating “to burn”, as brands were and still showing the meaning by which owners of livestock mark their animals for identifying their animals. Firms could not succeed in developing and managing products without effectively identifying their products and services. Organizations identify their offerings by branding. Brand is a name, sign, symbol or combination of these used to identify a product and distinguish it from competitors’ offering. Meaning of Brand can also be clarified through AMA’s definition, According to American Marketing Association , ” A brand is a name, term, sign, symbol or design or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition. “
According to AMA, ” The key for creating a brand may be able to choose a name, logo, sign and symbol, package design or other attributes that identifies a product and distinguish it from others.” Meaning of brand also can be high lighten in this way A brand is a complex symbol that can convey up to six level of meaning. Now briefing below –
Attributes: a brand brings to mind certain attributes. Mercedes suggest expensive, well-built, well-engineered, durable, high-prestige automobiles.
Beliefs: attributes must be translated into functional and emotional benefits. The attribute durability could have translated into the functional benefits, “ I would not have to buy or buy another car for several years”, the expensive translate into the emotional benefits. The car makes us feel important and admired in the society.
Values: Brand may also focus the producer’s values. Mercedes stands for high performance, safety and prestige.
Culture: Certain culture may also be focused as Brand in the modern era. The Mercedes represents culture of German nation, organized efficient and high quality.
Personality: the brand can project a certain personality. Mercedes may suggest no-nonsense boss ( person).
User: the brand suggests the kind of user or consumer who buys or uses the brand. We would expect for seeing a 50 years old top level executive behind the wheel of Mercedes, not a 15 years old secretary.
There are four types of brand designations such as are
i)A brand name: it is a word, letter( number), group of words or letters that can be spoken. For example, windows 2000, Lipton tea.
ii)A brand mark: A brand mark is a symbol, design or distinctive coloring or lettering that can not be spoken. For example, Lexus stylized L crest.
iii)Trademark: Firms usually want exclusive use of their brands and take steps to prevent others from using them. A brand registered with the patent and trademark office is called a trademark. A trademark legally protected can be used only by its owner. Brand names, brand mark or trade characters do not offer legal protection against use by competitors unless registered as trademarks. When used a registered trademark is followed by ®. Such as Scotch Brand ® Tape.
iv)A trade character: a trade character is a brand mark that is personified. For example, McDonald’s Ronald McDonald.
There are varieties of brand name strategies that exist in the world. In some cases –
- Company name is used essentially for all products. Such as General electric, Hewlett Packard (HP)
- In other cases, manufactures assign individual brand names to new products that are unrelated to the company name such as P&G, their Tide, Pampers, Pantene and Head & Shoulders etc.
- Retailers create their owner brands based on their store name or some other means. For example, Wal-Mart, Sears, Agora and Nandan etc.
- There are many names based on people (Estee Lauder Cosmetic, Porshe Automobiles and Orville Redenbacher popcorn.
- Brand based on places ( British Airways, Chrysler’s New Yorker automobiles)
- Brand based on animals or birds ( Dove soap, Mustang Automobiles )
- Brand based on things or objects ( Apple computer, shell gasoline)
- Use words with inherent product meaning ( lean cuisine, Just juice and Ticketron)
- Important benefits or attributes ( Beatyrest mattresses, Diehard auto batteries)
- Scientific natural or prestigious ( Intel microprocessors, Lexus Automobiles or Compaq Computers)
In sum, in creating a brand, marketers have many choices over the member and nature of the brand elements they choose to identify their products.