Macro Environment of Sony

7795 WordsSep 10, 200832 Pages
HISTORY OF BRANDING: Brands were originally developed as labels of ownership: name, term, design, and symbol. However, today it is what they do for people that matters much more, how they reflect and engage them, how they define their aspiration and enable them to do more. Powerful brands can drive success in competitive and financial markets, and indeed become the organization 's most valuable assets. In the field of marketing, brands originated in the nineteenth century with the advent of packaged goods. The first registered brand was the red triangle registered by Bass beer, as the British were the first to introduce a law for trade mark registration. Industrialization moved the production of household items, such as soap, from…show more content…
ROLES OF BRAND: Brands identify the source of maker of a product and allow consumers- either individuals or organizations- to assign responsibility to a particular manufacture or distributor. Consumers may evaluate the identical product differently depending on how it is branded. Consumers learn about brands from past experiences with the product and its marketing program. They find out which brands satisfy their needs and which ones do not. As consumers’ lives become more complicated, rushed, and time-starved, the ability of a brand to simplify decision making and reduce risks is invaluable. Brands also perform valuable functions for firms. First, they simplify product handling or tracing. Brands help to organize inventory and accounting records. A brand also offers the firm legal protection for unique features or aspects of the products. The brand also offers them firm legal protection for unique features or aspects of the product. The brand name can be protected through registered trademarks; manufacturing processes can be processes cane be protected through patents; and packaging can be protected through copyrights and designs. These intellectual property rights ensure that the firms can safely invest in the brand and reap benefits of a valuable asset. Brands can signal a certain level of quality so that satisfied buyers can easily choose the product again. Brand loyalty provides predictability and securities of demand for the firm and
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