Products are made in the factory, but brands are created in the mind. The three key rules of marketing are brand recognition, brand recognition and brand recognition. Brands are experienced by everyone in daily life. A common man looks at it as a simple logo or symbol or sign, but the concept behind a brand is quite sophisticated. Like a living being, brand also has a physical existence. It conveys a unique information about a company's offer to whom it is meant for.
Thus, a brand summarizes an array of messages about a company, its product, history and learning. Though the name seems to be simple, the ideas behind brands and the diverse ways used are both complex and comprehensive. In modern marketing, branding decision plays a crucial role in devising successful product/marketing strategy for products and/or services. A well-known brand not only enables companies to build a brand-loyal market, but also enables them to generate price premium. |