Brand – A name, logo, image, trust, product, and much more.

Brand - Definition and Scope

A brand showcases various characteristics of a business. It is more than a word, name, image, sign, product or service. And it differentiates a company in its field / market. There are different views in the mind of different buyers regarding a brand. But trust is the very factor that makes a company a brand. Awareness of public for a brand is a way to evaluate an organization.  

“Branding is a marketing and communication term that helps an organization to be distinguished in the marketplace.”

Marque, concept, product or service can be a brand. And name of the distinctive marque, concept, product or service is the brand name. Brands are very often secured – they are secure from use by others with a trademark. They are usually stated in the form of graphics and logos etc. Also, a brand may incorporate constructs like design, packaging, its repute, establishment, and the way of advertising.

Brand and Product - Difference

There is a difference between Brand and Product. Brands are what the consumers expect, while the products are what companies make. Simply put, a Brand is a mix functional and emotional associations. It's a commitment that the product will perform as per consumer's expectations. Further, it gives specific information about the good, service or organization. A brand shows an assurance of constructive characteristics that make the product or service unparalleled. If people are aware of what the company stand for and what it is offerings, then the organization is a strong brand.  

To a buyer brand means:

A product source
Responsibility to the product manufacture
Assurance of quality
Symbol of trust, and more.

Conclusion

In simple, brands simplify purchase decision of consumers. Users can discover the brands which fulfill their need. Benefits and satisfaction from use of the product ensure that the consumers will continue to buy that brand. In short, a brand is a representation of a specific set of characteristics, advantages and services to the consumers/buyers. It is a name, sign, symbol, term, or a blend of all these – designed to distinguish the products or services from competitors. A brand associates four important elements of an organization: customers, employees, management and investors. It is nothing but mental representations in customers' mind. A few examples of well-known brands are: Royal Enfield, Coca Cola, Motorola and Numero Uno.