Brand

What is a Brand?

What is the meaning of Brand?

A brand is a sign, label, logo, and a word or a phrase that companies used to advertise for something, it could be any product for example; ( Food, Clothes, Jewellery, Shoes, etc). to create a brand to yourself you need to make something called  ‘ Logo’.

Types of Brand

1.Service Brand

When companies move from producing products to offering full services and intangible services a service brand expands. Service brands are identified by the need to keep service quality at a consistently high standard. This category includes:

  • Classic services brand like airlines, hotels,  car rentals, and banks.
  • Agents like travel agents & estate agents.
  • Retail brands like supermarkets, fashion stores, and restaurants.

2. Individual Brands

The most common type of brand is tangible, individual products such as tissue brand (Kleenex ) all varieties of Colgate toothpaste, and many other types of brands.

3.Organization Brands

Organization brands are companies and other entities that deliver products and services. Mercedes and the U.S. Senate each possess strong organization brands, and each has associated qualities that make up their brand. Organizations can also be linked closely with the brand of an individual. For example, the U.S. Democratic Party is closely linked with Bill and Hillary Clinton and Barack Obama.

4.Personal Brands

An individual can be thought of as a label, as in the case of Oprah Winfrey or Mick Jagger, it may consist of one person. Perhaps it may be comprised of a few individuals who associate branding with specific personalities. Since the booming of the Web and social media, the personal branding movement provides nearly everyone with tools and strategies to create a brand around them.

5. Group Brands

Group branding happens when there is a small group of branded entities that have overlapping, interconnected brand equity. For example, the OWN group brand of the Oprah Winfrey Network and the brand of its known members (Oprah and her team) are strongly connected. Similarly, the Rolling Stones represents a group brand that is strongly associated with the personal brands of its members.

6.EBrands

E-brands only exist in the digital world. Some e-brands, such as Amazon.com, have the main focus on delivering a front end to physical goods or services online. Others provide information and services that are intangible to support customers. The concentration on providing a valued service or experience in the virtual world is usually a common denominator among e-brands.

7.Media Brands

Media brands such as newspapers, magazines, and television channels such as CNN.

How to build a brand?

1. Discover the purpose behind your brand: You have to select and consider your message that you want to send it to people from the brand.

2.Research competitor brands within your industry: You have to make research for your competitor from your same product line. 

3.Determine the target of your product:

  • Look at your new group of customers. Who are your actual customers, and why are they buying from you?
  • Analyze your product/service: Write each feature of your product or service you are offering to the costumers and mention their benefits. You have to use a professional approach to convince the consumer to purchase it and thereby increasing the reputation of the product/service amongst your competitors.
  • Select specific demographics you want to target: Try to find out who needs your service/product according to these factors: 1- Age. 2- Male / Female. 3- Education Level. 4- Location. 5- Family status. 6- Occupation.
  • Consider the psychographics of your target: Psychographics is the most important thing including: 1- Character. 2- Mood. 3- Ethnic. 4- Lifestyles. 5- Behavior.
  • Evaluate your decision: You have to be satisfied with your decision to take all the factors and steps to achieve your goal.

4. Outline the benefits for your brand: Try to make a list of the benefits that come to you from your brand.

5.Create a brand logo and tradeline:

a-Enter your company name and describe your business.

b-Describe your style through colors, fonts, and icons.

c-Choose logo according to your product/service style.

The Bottom Line

In conclusion, branding is about creating customer trust in the products of an organization, globalization and communication require a wider target audience. As a result, companies invest heavily in marketing campaigns which can raise the price of their brand.

Companies like Adidas, Inc. understand the impact of the market value on their sales and profits. They also understand that stakeholders need to believe in a brand. Hence, they are recruiting athletes who can help project the ideal picture will not spare any cost.

See Also
Venture Capital Guide
How to Calculate Business Startup Costs?