When the question – “What is a brand in UK” is asked, several thoughts comes into the mind of people.
Well, be rest assured that Educareguide will break it down for your understand. So what really is a brand? Let’s look a brief background.
Nature Of Business Brand
A brand is defined as a name, term, sign, symbol or design or a combination of these intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors (Kotler and Armstrong).
This means that, your brand makes you stand out in mist of the crowd. It is therefore necessary for individuals and businesses to brand themselves to look unique.
Let’s take the English Premier League (EPL) for instance. It is a brand that has been developed to assume a global stature.
The EPL is the richest football league in the world as far is TV right is concerned. The feet couldn’t have been achieve by neglecting branding. What then is branding?
What Is Branding?
Branding means the use of a name, term, symbol or design or a combination of all these to identify a product (McCarthy).
Therefore branding is a process of using a name, term symbol, design or combination of these to identify and distinguish an enterprise or product from that of competitors.
Most producers see branding as a method of exercising total control over their products. Also, find the meaning of a brand name below.
What Is A Brand Name?
A brand name is a word, letter or a group of words or letters. It is that part of a brand that can be vocalized/spoken.
The utter-able examples include Avon, IBM, Chevrolet, Key Soap, Ideal Milk, Milo, etc. How is brand different from a trade mark?
What Is A Trade Mark
A trademark includes only those words, symbols, or trademarks that are legally registered/protected for use by a single company.
A trademark need not be attached to the product. It need not be a word-it can be a symbol. A trademark protects the sellers’ exclusive rights to use the brand name or brand mark.
What Are The Benefits Of Branding?
The following are the advantages that an enterprise will enjoy for practicing branding:
- Branding helps you to introduce your new product much easier.
- If you are a wholesale or a retail organisation, branding helps you to gain competitive advantage. Middlemen who deal with branded goods may gain a competitive advantage over those who do not handle branded goods.
- Product Identification: Branding helps in giving an identification mark to a products. This enables consumers to make the correct choice.
- Easier Shopping: Shopping becomes easier since brands may suggest something about quality of the product.
- It protects manufacturers from competition by making a separate identity for its products.
Furthermore, several examining bodies, including WAEC has asked questions on this subject matter. WAEC is the examining body that conducts the WASSCE examination.
Therefore, educareguide is here to assist you in to fully understand this topic very well.
There are all kinds of brands in the would. In fact, without a brand, your company will very ordinary just as any other enterprise in the world.
Brand Awareness By Customers
Customers must be aware of the existence of your brand. For you to create an improve on your brand awareness, you must embark on vigorous advertising campaign.
Advertising helps you to inform, persuade, educate and remind potential and existing customers about the existence of your product. Find more about advertising on our site by using the search section.
Branding is always a process and not an event. Business Organisations should continue to work on their brand to make it stand out from other brand.
Thus, you will need to gain some fair knowledge about how the whole concept works. That’s why Educareguide has dedicated to teaching the ordinary person some business principles for their benefit.
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