what is brand? Brand is the name, term, design, symbol, or any other feature that identifies one sellers product distinct from those of other sellers.[1] Brands are used in business, marketing, and advertising. Initially, livestock branding was adopted to differentiate one persons cattle from anothers by means of a distinctive symbol burned into the animals skin with a hot branding iron. A modern example of a brand is Coca Cola which belongs to the Coca-Cola Company. In accounting, a brand defined as an intangible asset is often the most valuable asset on a corporations balance sheet. Brand owners manage their brands carefully to create shareholder value, and brand valuation is an important management technique that ascribes a money 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 companys 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. The word brand is often used as a metonym referring to the company that is strongly identified with a brand. Marque or make are often used to denote a brand of motor vehicle, which may be distinguished from a car model. A concept brand is a brand that is associated with an abstract concept, like breast cancer awareness or environmentalism, rather than a specific product, service, or business. A commodity brand is a brand associated with a commodity. Got milk? is an example of a commodity brand.
Posted on: Sat, 15 Mar 2014 05:44:06 +0000
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