Brand is considered as the "trump card" of the business. It is not only the name of the company but also a meaningful message that sticks with the company during the business process while the business still exists in the market. A strong brand can put a business first, helping to achieve business goals efficiently and easily. So what is a brand? Let's find out about them with Giaiphapdonggoi.net!
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1. What is a brand?
A brand is the image and personality of a product or service that a business offers. Product features, such as a logo or tagline, make the product unique and different.
What is the brand?
Trademarks were originally used hundreds of years ago to distinguish cattle. Cattle ranchers used branded irons to burn symbols on their livestock. They label them so slaughterhouses can identify which farm the cattle come from.
Farmers also label their pets so they can be more easily found if they are stolen.
However, branding is now more than just a means to differentiate a product. Today, brands also convey a 'promise'. The promise is that the product you purchase will meet the standards that the manufacturer seeks to deliver.
Brands are intangible reputational assets. In fact, they are the most valuable assets of many corporations. Intangible assets are assets you cannot touch, they have no physical form, but are valuable to the company.
2. Why is branding important?
Quality brands can lead to higher product sales. In fact, even products associated with certain brands benefit from higher sales.
Given the fact that most markets today are saturated with companies offering similar products, it has become imperative to develop a brand name in order to develop a favorable perception of the product offered on the Internet. market and stand out.
Why is branding important?
Here are some reasons why branding is important:
Provide Identity: A brand is the identity that a product provides. Brand assigns tangible and intangible attributes such as name, logo, color, voice, shape, etc. to products that help develop a personality with a distinct identity in the market .
Aids identification and differentiation: A branded product is easily recognizable and distinguishable from other products on the market.
Supportive Marketing: Marketing requires an identity that needs to be promoted. It's easier to promote a branded product than an unbranded product.
Increase value: Brand becomes an intangible asset with its own value. This value, when attached to a generic product, increases its overall monetary and non-monetary value.
Helps build trust: Giving a product identity aids recognition, which in turn helps gain customer trust. Brands offer products with a name that can be trusted.
3. Types of brands
Although there is a definition of a brand, the application of this concept differs in different respects. In general, a brand is classified into three categories of umbrellas. That is:
Touting Brand: When an identity is built around a tangible or intangible product, it is known as a touting brand. This offering can be anything from a product, service, place, event, or cause.
Company Brand: This is the trademark of the parent company dealing with the offering. Often, a company offers more than one branded product. In such cases, a corporate brand is also developed to distinguish the corporate identity from the brand identity.
Personal Brand: Celebrities and other aspiring individuals develop a brand of their own to differentiate them from others. This is a personal brand.
4. Characteristics of a brand
Brand is an inherently valuable asset that has the following characteristics:
Characteristics of a brand
Intangibility: It is an intangible asset that cannot be separated from the gift. It is the perception of identity that a product provides that is often used to recognize it and distinguish it from other products.
Dynamic: A brand is more than an experience, not just an identity. Each customer may have a different perception of the brand depending on their experience with the same brand.
Special: The sole purpose of brand development is to develop a unique identity that has human-like characteristics such as name, color, personality, etc.
Amorphous: Brand has no strings attached. Branded products and branded experiences are created in almost every country
Every touchpoint and such experiences and interactions have limitless possibilities.
Sentiment: Brand is when a human-like personality is attached to an item. Such human-like personalities develop an emotional connection with customers.
Easily recognizable: Brands are easily recognizable and distinct. They have their own attributes that help customers to recognize and differentiate them from regular offerings as well as from other market players.
Consistency: A brand develops an identity that, when consistent, develops an image (perception) in the customer's mind. Therefore, consistency is an important characteristic of a brand.
Refer to the product pp plastic strap for packing goods
5. Brand element
Brand is the sum total of all visual and non-visual elements, tangible and intangible, that promote customer perception and make them believe in what the company wants them to do. These branding elements include:
Brand elements
Visual identity: Brand visual identity includes a recognizable and communicable brand outlook such as names, symbols, colors, slogans, typography, graphics, etc.
Brand associations: These are associations that come to mind when they think of a brand. This can be advertising, brand ambassadors, brand features, class, lifestyle, emotions, etc.
Brand purpose: Brand purpose represents what the company stands for and what its social obligations to society, consumers and the environment are.
Brand Promise: It is the value that customers expect to receive whenever they interact with the brand or purchase its products.
Brand Identity: Brand identity is the set of all branding activities that a company undertakes to be perceived in a particular way by the target audience.
Brand personality: Brand personality is the association of human traits and personalities with a brand that customers can relate to.
Brand Voice: Brand voice is the uniformity of a brand's word choice, attitudes, and values while addressing the target audience or others.
Brand image: Brand image is the sum total of beliefs, ideas and impressions that customers hold about a brand.
Brand Experience: A brand experience is about awakening a holistic sensory experience to build a holistic relationship between the customer and the brand.
Brand equity: Brand equity is the total assets and liabilities associated with the brand name and logo, resulting in a customer's relationship with the brand.
Brand Architecture: Brand architecture is an organized structure of a company's portfolio of brands, subbrands, and other offerings.
6. Brand example
Today's world is saturated with brands. Every place a person goes, everything he uses, wears or eats, is transformed into a brand. Here are some notable examples of brands to build concepts:
Brand example
Coca-Cola
Coca-Cola is a perfect example of both a corporate brand and a supply brand. As a gift, it offers the world famous cola soft drink that has -
Red
Emotions - happiness
Shape - patented bottle
Voice - positive, friendly and gentle, and
Equity - 84 billion US dollars .
As a corporate brand, it is the parent of more than 500 brands sold in more than 200 countries worldwide.
McDonald's
Ranked as the 6th most important brand in the world, McDonald's brand value reaches a whopping $129 billion.
The company follows the same visual identity worldwide:
Logo - big M
Color - red and yellow
Mascot - Ronald McDonald
And operate on the same values. Furthermore, this corporate brand ensures that the names of their supply brands are prefixed with 'Mc' to maintain consistency.
Because the gap in production technology between enterprises is increasingly shortened, it is difficult to make a difference in product quality. Competition on quality is no longer the number one priority, instead it is about brand competition. In order to survive in the increasingly fiercely competitive market, Vietnamese businesses must make efforts to protect, build and develop their brands.
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