Brand

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Brand

A brand is a name, term, design, symbol, or other feature that distinguishes one product or service from another.

A brand is a name, term, design, symbol, or other feature that distinguishes one product or service from another. Brands are used in business to create differentiating value for a company's products and services.

When a customer is familiar with a brand or favours it incomparably to its competitors, a corporation has reached a high level of brand equity. Brand owners manage their brands carefully to create shareholder value.

The history of branding can be traced back to the ancient world. In the ancient Egyptian, Babylonian, and Chinese civilizations, traders would wrap their wares in colourful cloth and often attach tags or labels to them.

In Ancient Greece, merchants would put their names on clay pots. During the Roman Empire, manufacturers started putting their names on goods as a way to distinguish them from competitors.

The use of trademarks and brand names became more widespread during the Industrial Revolution. In the late 19th century, manufacturers began using advertising to create brands.

Brands are used in the modern world in order to create differentiating value for a company's products and services.

When a customer is familiar with a brand or favours it incomparably to its competitors, a corporation has reached a high level of brand equity. Brand owners manage their brands carefully to create shareholder value.

There are three types of brands:

1. Product Brands

A product brand is a type of brand that is associated with a specific product or service. Product brands are often distinguished from the companies that produce them, and may include emotional as well as functional benefits.

2. Company or Corporate Brands

A company or corporate brand is a type of brand that is associated with a specific company or corporation. Corporate brands are often distinguished from the products and services that they produce, and may include emotional as well as functional benefits.

3. Concept Brands

A concept brand is a type of brand that is associated with an abstract concept, like breast-cancer awareness or environmentalism, rather than a specific product, service, or business.

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