Branding is creating for corporate brand identify for consumer, and getting that brand identify imprinted on the mind of not only consumers but also competitors as well. For making brand business require brand positioning and brand management. Branding is one of the most important decision that taken by the businesses of their products. In the branding product will marked under a brand name or a generic name. Generic name is refers to the name that is identifying for the whole class of product. For example, books brand, toilet soaps, cameras, etc. we all know cameras made by the lens and plastics or steel from the all side and having different features in the cameras such as flash gun and so on. But all products having these characteristics would be known as generic name such as camera. If the product is sold by generic name then it would be very difficult to differentiate with competitors in the market. So business wants to create their brand for the product that gives different identity to consumer along with separate name. The process of making brand is involves giving name, symbol, and sign, and so on. There are various terms related to branding that is following.
Brand is refers to name, term, sign, symbol, design, and the combination of various these things also. These thing is used for the identifying the product and goods or services. This thing makes a product difference from the other similar products. For example Bata, lifebuoy, Colgate, and many more, these are brand sell by their name and consumers know many different brands also. brand is comprehensives term because it contain two important component that is brand mark and brand mark.
The brand mark refers to logo or design, any symbol that is recognized by the consumers and market also. there are many brands use different symbol, design, or logo used for their brands such as I phone use the apple use as logo, the gattu of the Asian paints, devil of onida, and many other brands are exist with their logos.
Brand name can be spoken by the name particular product that is called brand name. There are various products have their name and they recognized by their name. In simple word it is verbal component of the brand, for example meggie, safola, Bata, rebook, uncle chips, and so on.
A brand name and part of the brand that is given for the legal protection to brand that called trade mark. This protection does not allow to other firms to use brand name without the brand owner’s permission. Business needs to register brand and get exclusive right for its use.
Although, the branding of products increase cost of labeling, packaging, legal protection and promotion. It provides various benefits to sellers as well the consumer. Let us discuss about advantages of the branding.
Advantages of branding to marketers
There are various benefits of branding to marketers that are following.
Advantages to consumers of branding
There are many benefits of brands to consumers also that are listing.
We discussed about the brand, what it includes two component brand name and brand design. I mentioned the how branding is beneficial for the consumers as well market also. I hope this piece of information will help to the importance of branding and how it create a different name in the market also.