What Is A Brand?

Branding is the mix of elements inside and outside an offer that gives it a distinctive brand identity and differentiates it from other brands.

According to Kotler that a brand is a

Name, word or sign symbol (or any combination of these) identifies the item’s creator or seller.

In simple words, a brand is an amalgamation of product characteristics used to establish its identity within the marketplace.

History Of Branding

The concept of branding dates back to around 2700 BCE when the ancient Egyptians utilized burning their logo (or Brand) on their livestock to distinguish their cattle from those of other breeds.

In reality, even the word “brand” comes by Brand, which is an Old Norse word “brand”, meaning “to burn”.

The branding method, however, began in the latter part of 1800 when Coca-Cola decided to distinguish its product from general-purpose products by painting everything with its trademark colour, creating the trademarked bottle design, and printing the logo on corporate-owned products.

Importance Of A Brand

Given that most of the market today is filled with similar products creating the right Brand is crucial to establishing a favourable perception of your product in the marketplace and making it stand out.

Here are some reasons why creating an identity is crucial for your business

  • Creates Identity: A brand is a name that the product is based on. Branding is the process of assigning tangible and inseparable qualities such as name, logo colours, voice and shape. To the product that helps create a brand identity distinctively within the marketplace.
  • Aids in recognition and differentiation: A branded offering is easily recognized and distinguished from other items on the market.
  • Aids in marketing: Marketing requires an identity that needs to be advertised. It is much easier to market an item that is branded rather than a product that is not branded.
  • Enhances Value: Brand becomes an intangible asset with an intrinsic value. The value of this asset, when paired with a generic offering, can increase its overall value, both in terms of Money and non-monetary.
  • Aids in Building Trust: Giving an identity to the product helps it be recognized, which, in turn, aids in gaining the trust of the clients. The Brand can provide the product with an identity that is trusted.

Types Of Brands

Although there is a single definition of the term “brand,” the application is different in different ways. In general, brands are divided into three categories. These are –

  • Offering Brand: When an identity is based around an intangible or tangible offering that is known in the context of an offer brand. The offering could range from service or product to a place, event or cause.
  • Corporate Brands: This is the parent company’s Brand that handles the product. Most often, a single business provides more than one brand product. In these cases, it is necessary to have a corporate branding designed to distinguish the corporate identity from the Brand’s identity.
  • Personal Branding: Famous personalities and other ambitious individuals create an identity of their own, distinguishing them from others. Personal branding refers to how they present themselves.

Characteristics Of A Brand

A brand is an intrinsically important asset with the following attributes:

  • Intangible can be described as an intangible asset that cannot be distinguished from its offer. It’s a sense of the brand identity that the product has, which is utilized to recognize it as distinct from other offerings.
  • Dynamic The brand experience is much more rather than just an image. Every person may experience a different impression of the Brand based on their personal experiences.
  • Unique: The sole purpose of creating a brand is to create a distinct brand with human-like traits like colour, name, personality, etc.
  • Amorphous It isn’t a matter of restrictions. Brands can be branded while brand experiences are developed in almost every interaction point. These interactions and experiences are brimming with possibilities.
  • The emotional aspect of The term “branding” refers to the process where the human-like character is associated with an item. Human-like characters form emotional bonds with customers.
  • Highly Recognisable Brands are easily recognized and distinct. They possess their own characteristics that allow their consumers to recognize and distinguish them from generic options and other brands on the market.
  1. A brand establishes an identity, which is consistent, and develops an impression (perception) that is reflected in the thoughts of customers. Therefore, consistency is an essential aspect of creating the Brand

If a business decides to choose a brand for their public Brand, it should first establish its Brand’s identity, or the way in which it would like to be perceived. For instance, a logo is often a representation of the company’s slogan, message or even a the product. The objective is making the company memorable and attractive to the customer.

The company typically consults an agency, design team or logo design software to brainstorm concepts for the visual aspect of branding, for example, an emblem or logo. A brand that is successful accurately conveys the message or the feeling that the business wants to convey across. This leads to branding awareness or acceptance of the existence of the Brand and the benefits it provides. However an unproductive brand typically is due to the lack of communication.

If a brand can create an uplifting feeling among its intended public, it has been said to have developed brand equity. Companies that have brand equity and highly famous product brands include Microsoft, Coca-Cola, Ferrari, Apple, and Meta (formerly Facebook).

If executed correctly when it is done right, a brand can result in an increase in sales, not only for the particular product as well as for other products that are sold by the same business. A trustworthy brand creates confidence in the customer and, following positive experiences with a product, the buyer tends to buy another item from that same company. This phenomenon is sometimes called brand loyalty.

Apple, Google, Microsoft, Amazon, and Meta were the top brands in 2020, as per Forbes. 5

Benefits of Brands

Branding can bring many advantages, whether it’s an individual or a company. Branding that is successful can result in many impressions. What does this mean? A business that can successfully convey its message is able to provoke and create emotion in its client base. They form unique bonds with these businesses, allowing companies to profit from their loyalty. Businesses also depend on their customers to bring in new customers.

This can help companies gain trust and establish credibility. In the end, consumers are more likely to buy products or products (or brand names) from brands they trust and are familiar with. This gives companies an edge over their rivals. Ensuring that brands are prominent in the mind of customers is more profit.

It also aids companies in introducing new products and services. Since consumers are going to stay loyal to brands they know and trust–and with whom they already have a relationship–they’re more likely to spend when new products are released, even if they’re more expensive. Let’s consider Apple as an

Brand Examples

The world of today is flooded with brands. Everywhere you go, every item that he wears, uses or eats, has been transformed into the Brand. Here are some noteworthy examples of brands that expand on this concept

Coca-Cola

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Coca-Cola is an excellent example of both a corporation brand and an offering. It is an offer, and provides the world-renowned soft drink cola, which is its own

  • Colour– red
  • Emotion “Happiness”
  • Form– bottle with patent
  • Voice Positive, welcoming and down-to-earth, and
  • Equity – 84 billion U.S. dollars.

As a brand owned by a corporation that is a parent brand to hundreds of brands that sell across 200+ countries around the world.

McDonald’s

As the 6th most valuable Brand worldwide, McDonald’s brand value lies at $129 billion.

The company has the same visual identity across the world The company’s visual identity is consistent across the globe

  • Logo – big M
  • Colors Yellow and red
  • Mascot– Ronald McDonald
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