Fundamentals of Business

Brand

A brand is a name, logo, slogan, and/or design scheme associated with a product or service. Brand recognition and other reactions are created by the use of the product or service and through the influence of advertising, design, and media commentary. A brand is a symbolic embodiment of all the information connected to the product and serves to create associations and expectations around it. A brand often includes a logo, fonts, color schemes, symbols, and sound, which may be developed to represent implicit values, ideas, and even personality.

Brands are divided into three main categories:

Consumable products
Food, Pet food, Non Alcoholic beverages, Alcoholic beverages Example of brands in this category: Coca-Cola, Bacardi, Absolut, Evian, Kellogs, Whiskas

Personal Products
Apparel & accessories, cosmetics, fragrances, health & beauty, household cleaning & paper products, Miscellaneous household, Over The Counter medicines, Stationery & Office Supplies. Example of brands in this category: Adidas, Nike, Levi's, Aquafresh, Dove, Nivea, Gillette.

Durable goods
Appliances, Automobiles & related products, Computer, electronics & office equipment, Home furnishings & building supplies, musical instruments, photographic equipment, sporting goods, Toys. Example of brands in this category: Hoover, BMW, Mercedes Benz, IBM, XEROX, Yamaha, Hasbro. Brands, "branding" and brand equity have become increasingly important components of culture and the economy, now being described as "cultural accessories and personal philosophies".

Concepts
Marketers engaged in branding seek to develop or align the expectations behind the brand experience, creating the impression that a brand associated with a product or service has certain qualities or characteristics that make it special or unique. A brand image may be developed by attributing a "personality" to or associating an "image" with a product or service, whereby the personality or image is "branded" into the consciousness of consumers. A brand is therefore one of the most valuable elements in an advertising theme. The art of creating and maintaining a brand is called brand management management.