Part - I

What is a Brand?

A brand is a combination of several elements:

• A name

• A symbol (logo)

• The company

• A set of attributes and associations, expectations / perceptions (image)

• A statement about the customer

• The actual product/service

• A promise/commitment of some benefit(s)

Branding: A Way of Doing Business

Branding is one of the most scintillating topics in business today. Even the laggards develop an inclination towards the field when the topic arises. It has become the business buzzword. In today's crowded marketplace: the brand defines the unique point of differentiation for the products and services and is, perhaps, the only real opportunity to stand out. The paramount role that brands and branding now play has been accompanied by major shifts in the field of marketing. Brands are seen to be much more than names or logos. The strongest brands tend to be the ones with the most consistent and clearest messages. Brand identities create anticipation in the minds of both consumers who use the brand and the employees who deliver it.

Any brand is clearly more than just its name. Brands are the values, beliefs, and service experiences that underpin them. When put this way, it is easy to see how customer service is a brand in action. Today branding is viewed as interactive communication. It is a dynamic exchange between humans within a defined space that captures, and reflects, the attitudes of the brand. It reinforces, even magnifies, the brand in the hearts and minds of the consumer.

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* Contributed by -
Ashish Bihani & Rahul Sikaria,
I Year, MBA (Global),
Institute of Management Technology, Nagpur.