A brand is a name, term, design, symbol or any other feature that identifies one seller's good or service as distinct from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. 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 livestock 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 branding iron. If a person stole any of the cattle, anyone else who saw the symbol could deduce the actual owner. The term has been extended to mean a strategic personality for a product or company, so that "brand" now suggests the values and promises that a consumer may perceive and buy into. Over time the practice of branding objects extended to a broader range of packaging and goods offered for sale including oil, wine, cosmetics, and fish sauce and, in the 21st century, extends even further into services (such as legal, financial and medical), political parties and people (e.g. Lady Gaga and Katy Perry). Branding in terms of painting a cow with symbols or colors at flea markets was considered to be one of the oldest forms of the practice.
In the modern era, the concept of branding has expanded to include deployment by a manager of the marketing and communication techniques and tools that help to distinguish a company or products from competitors, aiming to create a lasting impression in the minds of customers. The key components that form a brand's toolbox include a brand's identity, personality, product design, brand communication (such as by logos and trademarks), brand awareness, brand loyalty, and various branding (brand management) strategies. Many companies believe that there is often little to differentiate between several types of products in the 21st century, hence branding is among a few remaining forms of product differentiation.
Brand equity is the measurable totality of a brand's worth and is validated by observing the effectiveness of these branding components. As markets become increasingly dynamic and fluctuating, brand equity is built by the deployment of marketing techniques to increase customer satisfaction and customer loyalty, with side effects like reduced price sensitivity.A brand is, in essence, a promise to its customers of what they can expect from products and may include emotional as well as functional benefits. When a customer is familiar with a brand or favors it incomparably to its competitors, a corporation has reached a high level of brand equity. Special accounting standards have been devised to assess brand equity. In accounting, a brand defined as an intangible asset, is often the most valuable asset on a corporation's balance sheet. Brand owners manage their brands carefully to create shareholder value. Brand valuation is a management technique that ascribes a monetary value to a brand, and allows marketing investment to be managed (e.g.: prioritized across a portfolio of brands) to maximize shareholder value. Although only acquired brands appear on a company's balance sheet, the notion of putting a value on a brand forces marketing leaders to be focused on long term stewardship of the brand and managing for value.
A corporate identity or corporate image is the manner in which a corporation, firm or business enterprise presents itself to the public (such as customers and investors as well as employees). The corporate identity is typically visualized by branding and with the use of trademarks,but it can also include things like product design, advertising, public relations etc. Corporate identity is a primary goal of the corporate communications, in order to maintain and build the identity to accord with and facilitate the corporate business objectives.
In general, this amounts to a corporate title, logo (logotype and/or logogram) and supporting devices commonly assembled within a set of corporate guidelines. These guidelines govern how the identity is applied and usually include approved colour palettes, typefaces, page layouts, fonts, and others.
Doni Brand reserves the right of final decision and interpretation
in the case of any dispute.
Doni Brand - Since 2019 - Hong Kong
Copyright © Doni Brand 2020. All Rights Reserved.