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kev10 \l 1033 ]. The American Marketing Association (AMA) defines brand as a “name,
sign, term, sign, symbol or design or combination of them intended to identify the
goods and services of one seller or group of sellers and to differentiate them from
those of other sellers”. Therefore, branding is not about choosing target markets for
competition, but it’s a method to make your product as an only solution to satisfy
consumer needs[ CITATION Lau10 \l 1033 ]. Consumers always look for brand which
make them feel unique and memorable, that’s why brand experience comes in
famous phrase by Walter Landor,’ Products are produced in factory, but brands are
Brand is complex symbol that consist of six levels of meaning [ CITATION KOT \l 1033 ]:
1. Attributes: A brand brings some attributes in mind of people. Nokia, for well
emotional benefits. Like, Durability, people won’t have to buy another mobile
for years. The attribute reliability, people knows Nokia is reliable, because its
3. Values: The brand also says something about the producer’s values. The
reason for buying BMW is reliability, speed, safety etc. The customer
identifies above mentioned values with BMW brand which helps him in
German culture.
class vehicle.
6. User: Brands defines kind of user who buy and uses like, BMW resembles,
important role in consumer buying behaviour, and made them feel good, like, Calvin
Klein, Armani, Gucci etc, consumer feel luxurious after purchasing these brands, a
Brands value for the companies more than their tangible assets. “Amazon.com will
sell its fixed assets to focus on managing its brand, becoming the ‘Coca-Cola’ of the
web” (Jeff Bezos, CEO, Amazon.com). Tangible assets like plants, equipment and
marketing, financial and operations and most important brands. “When choices
become vast, the only things that matter are brand names”(Michael Eisner, CEO,
Disney). John Stuart, CEO of Quaker Oats (1952-1956), said, “ If this company were
to split up I would give you the property, plant and equipment and I would take the
brands and the trademarks and I would fare better than you” [ CITATION Kel93 \l 1033 ].
The below mention table shows top ten brands in 2010 [ CITATION Bes10 \l 1033 ]:
TOP TEN BRANDS IN 2010
World is dynamic in nature which keeps on changing according to time, that’s why
follows:
Advantages of branding:
Brand provides distinct benefits, promise, and delivers high level assurance to
customer. Powerful brand has high brand equity, one of its measures extend to
which customer willing to pay more for the brand. For example, if we compare
specification between Dell Inspiron 15R and Apple MacBook Pro, both have have
same specification, however, Dell Inspiron is more value for money but pricewise,
Dell laptop cost’s between $429-$450 and Apple MacBook $880-1100, [ CITATION
Lap10 \l 1033 ] that’s huge price difference, that’s difference is called premium, which
choice and social class of person and its value orientation. So the customer has to
make choice between different brand on laptop, he chooses Apple MacBook for
speed, design, reliability, durability , class and experience, although speed he can
get in Dell but Apple MacBook has its own class and customer experience with a
Customer choose BMW car can be speed, safety, reliability, and driving pleasure,
the customer finds above mentioned values in BMW which helps customer to choose
standards. A brand helps companies in building strong customer base like e.g.
Quaker Oats, McDonalds, Harley Davidson and Kellogg’s. Customers are ready to
accept line extensions like Apple and Microsoft. A brand provide customer and
employees who works for them a feeling of pride, if someone is working with Infosys
and Microsoft, company brand name motivates employees that they are working with
some branded institution. Technology never remains same, its keep on changing,
reinventing and remain on its promise is the quality of brand which customer
appreciate. Loyal set of customer base helps brand to enjoy monopolistic advantage
over a period of time. Customer enjoys quality of products and services because
consumers. For example, Gillette, Coca-cola, Brooke Bond Tea, Colgate toothpaste
and other are leaders in their product categories, due to continuous innovation
1 Apple
2 Google
3 Toyota Motor
4 General Electric
5 Microsoft
6 Tata Group
7 Nitendo
9 Sony
10 Nokia
Brands are very important for consumers as well as marketers but, nowadays, brand
management is becoming more and more difficult for both. Consumer need to pay
high prices as premium for brands, as well as for marketers, they need do lots of
brand in current competitive world. Brand building and managing is very costly
process and consumer has to bear the cost with companies of no surety of
successful positioning of brand in market. Consumers trust brand blindly that’s why
expectations are always high for brands and they expect the same positive response
from company side. If customers get negative response from the companies brand
dilution occurs where customers starts losing their interest in brand. None of the
company affords brand dilution that’s why concept of internal branding with
employees occurs in order to make them understand the values of brand and
Living in a global world, nowadays key business will India, China, Brazil and Russia.
concentration of west and focus on world as a global village [ CITATION Dav10 \l 1033 ].
Making global is not easy, it requires large investment both on advertising and
promotions which indirectly going to increase the product price. Investment on Brand
promotion is consider social waste which increase cost of production and making
brand price higher. For example, Nike, Adidas and Puma, these brands are
expensive than Slazenger, Umbro and Converse. All these brands make sporting
cloths for youth and Nike, Adidas and Puma make huge investment on
advertisement and other promotional activities but Slazenger, Umbro and Converse
does not invest much on promotional activities that’s why they are cheap and in
perceived in a one way then it is difficult to change it an alternative way, even though
due to change in dynamic environment. Coca-cola made this same mistake; Coca-
Cola is a very strong and 124 year old brand. They made mistake by making their
faced huge criticism from consumers. After 3 months launch of New Coke,
Pendergrast, “Coca-Cola was really a symbol of something that was seemingly solid
and it represents something that wasn’t changing” [ CITATION Bla08 \l 1033 ]. Coca-Cola
took a risk and they suffer, they forget that people need Coca-Cola not because of
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