Published date: October 27, 2022. 20:54
A brand is a name, term, design, symbol, or other feature that distinguishes an organization or product from its rivals in the eyes of the customer. Brands are used in business, marketing, and advertising. Name brands are sometimes distinguished from generic or store brands.
The practice of branding is thought to have begun with the ancient Egyptians who were known to have engaged in cattle branding as early as 2,700 BCE. branding was used to differentiate one person’s cattle from another's by means of a distinctive symbol burned into the animal’s skin with a hot iron. If a person stole the branded cattle, anyone who saw the symbol could deduce the identity of the owner.
The term “brand” derives from the Old Norse word “brandr” which means “to burn.” It is also thought to be related to the Old English word “brand” meaning “sword.”
The concept of branding was further developed in the Middle Ages with the rise of guilds. A blacksmith’s hammer, for example, was often used as a mark of quality. The word “brand” eventually came to be used more generally for any distinctive mark.
In the 19th century, the development of mass production led to the widespread use of trademarks. A trademark is a distinctive sign or indicator used by an individual, business organization, or other legal entity to identify that the products or services to consumers with which the trademark appears originate from a particular source, and to distinguish those products or services from those of other entities.
The first use of the term “branding” in reference to marketing was in a 1925 article in the Harvard Business Review. The author, Frederick E. Levy, described how manufacturers were using increasingly sophisticated techniques to “penetrate” the consumer’s “subconscious mind” and create “mental pictures” of their products.
Today, branding is a strategic tool used to create differentiating value for products and services in the marketplace. A brand is much more than a name or logo. It is the sum total of how a company’s customers, employees, investors, and the general public perceive it.
A strong brand can generate demand for a company’s products and services, create loyalty among its customers, and attract and retain the best employees. It can also increase the value of the company’s stock and provide a buffer against economic downturns.
The most successful brands are built on a foundation of trust. They are authentic, consistent, and relevant to the people they are trying to reach.
The process of creating a brand can be divided into four key steps:
1. Research: Conduct market research to understand the needs and wants of your target audience.
2. Positioning: Develop a unique positioning statement that will serve as the foundation for your brand.
3. Identity: Create a visual identity for your brand that includes a logo, tagline, and other elements.
4. Communications: Develop a communications plan to ensure that your brand message is consistently communicated to your target audience across all channels.
A well-executed branding strategy will differentiate your company from your competitors and make it easier for customers to understand what you offer. It will also make it easier for you to attract and retain the best employees.
The following are some examples of well-known brands that have successfully used branding to create differentiating value in the marketplace:
Apple: Apple is a global technology company that designs, manufactures, and markets consumer electronics, computer software, and online services. The company’s best-known products include the iPhone, iPad, and Mac computers.
Google: Google is a multinational technology company that specializes in internet-related services and products. These include search, cloud computing, software, and advertising technologies.
Nike: Nike is a global sporting goods company that designs, manufactures, and markets a wide range of sports and fitness products. The company’s products include footwear, apparel, equipment, and accessories.
Starbucks: Starbucks is a global coffee company that operates thousands of coffee shops around the world. The company’s coffee, tea, and pastries are available in more than 50 countries.