Definition And Understand The Brand Value Of Maurya And Mishra Essay

A brand is what can either attract people to you or make people avoid you; people would identify you by the brand you portray. One can communicate their brand through actions and words. “It is essential to understand that wherever we are, in whatever we do, we are all building our brand”.

A brand is a portfolio of qualities associated with a name, which in turn invokes certain images to individuals and hold values beyond the benefits of a product (Iacobucci, 2018). Brand association occurs when customers make a cognitive or emotional association with a particular brand. For instance, when a customer sees a certain color, symbol, logo, or name they automatically can make a connection to a particular brand. Brands start with a name that conveys information, suggest their benefits, or can even be named after their founders (Iacobucci, 2018). In the marketing perspective marketers can control the brand which they are marketing by using catching logos, colors, slogans, or even the products shape and appearance. In marketing a marketer can control the message they are trying to convey but cannot really have control over an individual’s association with that particular brand. Once a customer has an association with a particular brand they may favor the brand based on a past experience or even that individual’s sense of style or they may dislike a brand because of an association they

According to Holt (2004), a brand can be defined as a term, name or a design that distinguishes product or service of one manufacturer from others. Brands are normally utilized in advertising, business and marketing. In accounting terms, brand is an intangible asset which is present within every organization. It is most valuable asset that is outlined in the balance sheet of a company. Brands owners need to effectively manage their brands in order to enhance shareholder value. Brand valuation is an important technique that associates money with a brand. Effective branding often results into high sales volumes of a particular product. A customer who prefers a brand is more likely to choose other products which are offered by the same brand. Brand can be stated as a personality that facilitates identification of a company, product or service. It even encompasses relation with other constituents like customers, partners, investors, staff, etc. Individuals distinguish psychological aspect of a brand from experimental

A brand is an organisation, product or service which has created an emotional connection with their consumers in order for them to favour their brand over their competitors. It is incredibly important for brands to keep up their image and one little thing could change the global perception of a business. It takes a lot to maintain a brand image that has been built up over a long period of time and even more to regain it if that reputation is lost. Brands are created through various different aspects such as their visuals, tone of voice, advertising, actions and reputation. The combination of these will leave their consumers with long lasting emotions and perceptions of a particular brand and will effect whether they support a business or not and whether they would favour or avoid it. When a brand looses their image it can cost a lot of money and time to rebrand to prevent complete failure of the product or service.

According to the American Marketing Association (AMA), a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition”. However, as Keller highlights, a brand is also “something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace”. Therefore, a brand is an identity created to differentiate itself from the competitors and to be remembered in consumer’s mind.

Since an increasing number of people focus on brand names instead of product, brands become important elements for customers to choose products (Carroll, 2008). When customers trust the brand, the benefits for the manufactures are generated. In the first place, brands can be used by products as the tool to identify and differentiate themselves from various products. Secondly, brands are helpful for companies to build a competitive advantage (Bick, 2009). Therefore, organisations take more attention to branding.

A brand is defined as “a collection of symbols, such as name, logo, slogan and design that are intended to create an image in the customer’s mind that differentiates a product from competitors’ products” (Elliot, Rundle-Thiele & Waller, 2010, p.219). This makes the process of branding integral to the success of any given product in a market place

Many consumers swear their allegiance to brand names. Branding is the marketing tool many companies invest in to become an in-demand product or service on the market. According to Ogden & Ogden (2014) “The use of branding has become more important because customers relate to a brand on an emotional and personal level” (p. 305). Marketers understand the relationship between consumers and an emotional bond with their organization’s product. Marketers use the relationship to drive their brand to gain recognition and acceptance. Recognition and

According to Kapferer (2004), brands penetrate almost every aspect of life: social, economic, sporting, cultural and even religion. Brands are direct strategy of market segmentation and product differentiation and it means more than just giving names and signalling to the world. Branding consist of transforming the product category and requires a corporate long-term involvement and a high level of resource and

One brand consultant, from the case, says when times are tough, people are looking are looking for brands they know and the comforts they bring out, not only functionally but also emotionally. On page 233, there is a section about brands. Nowadays branding is so strong that almost anything goes unbranded. The textbook author says consumers view a brand as an important part of a product, and branding can add value to a consumer’s

Just like any branding process, the basic understanding of the product is extremely important, as this will allow the differentiation of that product with any potential competitor. Similarly, in term of individual human, the talent, interest, goals, experience and resource can be the parameters for understanding the product itself. Hence, the next section will explore the parameters in the form of bullet points.

Throughout the years there has been a rise on advertisement from being basic to extremely extravagant. Companies have been trying to keep up their brand reputation up for years. I wanted to find out why so many people worldwide are putting their trust in a product by just hearing the name brand name.

One’s personal brand emerges from the search for identity and meaning, out of which comes an awareness of personal strengths and talents. Personal branding is not applying an attractive mask, it understands what ones values are, and learning to make these values relevant to other people. Much of developing a personal brand centres on identifying personal values. Just like it is true for products and services, good personal brands stand apart from others and create strong favourable and unique associations. The aim of every personal brand is to be clear, distinctive, and be easily understood, and to expresses a unique, compelling benefit that people believe in. The personal brand must establish a place of trust and relevance in the prospects minds. The more it is believed by people, the more it will spread throughout the market without pushing. To evaluate how is brand “you” doing it is necessary to obtain honest, helpful feedback on the brand performance, growth and value. The next step is to work to close the gap between what the brand is today and how it wants to be perceived by others. A great personal brand evokes an emotional response in its audience .But in the end; the deciding factor in the personal brand’s effectiveness comes down to which of the two responses it generates “good” or “bad”. A Personal brand makes each person exposed to it

In order to discuss the term value and what it represents in relation to brands and the consumer, one must first try to define it, and understand its underlying message. In the early 2000s, many researchers tried to create holistic conceptualisations, such as Khalifa (2004) and Woodall (2003). These abstractions attempted to conceptualise in on an individual level (Holbrook 1994, 1999). However, recent definitions have tried to encapsulate a more rounded and pragmatic perspective which recognises value in the environment of consumer experiences (Edvardsson et al 2011). Further, Grönroos and Helle (2010) placed further emphasis on economic improvements created communally or by business partners. This, of course, is the definititions of value in a brand-oriented point of view. One of the more general definitions of value derives from Grönroos (2008) where he summarised value

In recent times, branding has played a pivotal role in some brands’ success. This has been made possible through the ability of some marketers to capture the essence and minds of people (consumers), and put the trends and characteristics into the personality of a brand. Customers have always found ways to identify themselves with certain products, and on several occasions, branding campaigns