The Power Of Branding And What They Known For
What Is Branding? The Power of Branding In Marketing
A brand is a name, term, design or symbol that identifies one seller’s good or service as distinct from those of other sellers. Brands are used in business, marketing and advertising. The term often refers to a trademark or brand name.
Brand equity is the value of a brand and can be calculated as the sum of all assets less any liabilities associated with that brand. It is important for businesses to maintain high levels of equity if they want their customers to continue buying their products and services.
Branding definition: A process by which an organization creates value for its product by building distinctive features into it and establishing a strong customer relationship based on those features. Branding can also refer to the act of applying branding techniques to various areas such as the company’s name, logo, product line.
Below are some well-known brands and what they are most known for:
Iphone
Iphones aren’t the most advanced phones out, they’re known as a status symbol.
Starbucks
Starbucks isn’t the best coffee out there, they’re known to make you happy.
Toyota
Toyota isn’t making anybody’s dream car, they’re known as safe and reliable.
McDonald’s
McDonalds isn’t making the best burgers, they’re known as cheap and fast.
Conclusion
Branding isn’t just a logo, it’s what the logo represents. Brands need to be memorable and distinctive, while also being efficient and easily accessible.
