Product branding, Marketing Management

Product branding:

Meaning & definition: a brand is a "name, term, symbol or design to identify the goods or services and to different them from those of the companies". A brand identifies the product for a buyer. Marketers see a brand as an implied promise that the level of the quality people have come to expect from a brand is determined by the amount of the profit it generates for the manufacturer. This results from a combination of increased sales and increased price. According to the William J. Stanton, "all trademarks are brands and thus include the word, letters or numbers which may be pronounced they may also include a pictorial design". The American marketing association defines a brand as "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 the group of sellers and to differentiate them for those of competitions". Branding is the practise of giving a specified name to a product or group of product of one seller. Branding is the process of finding and fixing the means of definition. In other words, naming a product, like naming a baby, is known as branding. Parents have children and manufactures too have children, products. As parents, the manufactures also are eager to know the character and capacity of their products on their birth, but not on their names. Thus branding, a management process by which a product is named, branded. A brand name when registered is called trademark. In essence, a brand identifies the seller or market. It can be a name, trademark, logo or other symbol. Under trademark law, the seller is granted exclusive rights to the use of the brand name in the perpetuity. Brands differ from the other assets such as patents and copyrights which expiration dates. 

Posted Date: 9/19/2012 6:19:27 AM | Location : United States

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