Introduction
A brand is pretty much like a human being. Life of a brandis very much correlated with that of human beings. Brands take birth, havetheir heydays and eventually die. There is therefore a need to nurture brandslike human beings. Managers need to play for long-term stakes becauseshort-term thinking kills brands. Brand-managers often pursue short-termresults, whereas managing brands as assets calls for longer-term strategy.
A brand is a sellers promise to deliver a specific set offeatures, benefits and services consistently to the buyers. The best brand conveysa warranty of quality. A brand is a name, term, sign, symbol, or design, or acombination of them intended to identify the goods or services of one seller orgroup of sellers to differentiate them from those of competitors. Brands differfrom other assets such as patents and copyrights, which have expiration dates.But a brand is an even more complex symbol. A brand brings to mind certainattributes which must be translated into functional and emotional benefits. Thebrand also says something about the producers values, represent a certainculture and project a personality. Ultimately its the brand which suggests thekind of consumer who buys and uses the product. Brands vary in the amount ofpower and value they have in the market place. At one extreme are brands thatare not known by most buyers. Then there are brands for which buyers have afairly high degree of brand awareness. Beyond this are brands with a highdegree of brand acceptability. Then there are brands that enjoy a high degreeof brand preference. Finally there are brands that command high degree of brandloyalty.
About the Author:
Ms.DeepthiSankar
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