Brand
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers.[2][3][4][5] Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders.[6] Brand names are sometimes distinguished from generic or store brands.
For other uses, see Brand (disambiguation).
The practice of branding—in the original literal sense of marking by burning—is thought to have begun with the ancient Egyptians, who are known to have engaged in livestock branding and branded slaves as early as 2,700 BCE.[7][8] Branding was used to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot branding iron. If a person stole any of the cattle, anyone else who saw the symbol could deduce the actual owner. The term has been extended to mean a strategic personality for a product or company, so that "brand" now suggests the values and promises that a consumer may perceive and buy into. It includes the voice and the tonality of the business. Over time, the practice of branding objects extended to a broader range of packaging and goods offered for sale including oil, wine, cosmetics, and fish sauce and, in the 21st century, extends even further into services (such as legal, financial and medical), political parties and people (e.g. Lady Gaga and Katy Perry). Branding in terms of painting a cow with symbols or colors at flea markets was considered to be one of the oldest forms of the practice.
In the modern era, the concept of branding has expanded to include deployment by a manager of the marketing and communication techniques and tools that help to distinguish a company or products from competitors, aiming to create a lasting impression in the minds of customers. The key components that form a brand's toolbox include a brand's identity, personality, product design, brand communication (such as by logos and trademarks), brand awareness, brand loyalty, and various branding (brand management) strategies.[9] Many companies believe that there is often little to differentiate between several types of products in the 21st century, hence branding is among a few remaining forms of product differentiation.[10]
Brand equity is the measurable totality of a brand's worth and is validated by observing the effectiveness of these branding components.[11] As markets become increasingly dynamic and fluctuating, brand equity is built by the deployment of marketing techniques to increase customer satisfaction and customer loyalty, with side effects like reduced price sensitivity.[9] A brand is, in essence, a promise to its customers of what they can expect from products and may include emotional as well as functional benefits.[9] When a customer is familiar with a brand or favors it incomparably to its competitors, a corporation has reached a high level of brand equity.[11] Special accounting standards have been devised to assess brand equity. In accounting, a brand, defined as an intangible asset, is most often the most valuable asset on a corporation's balance sheet. Brand owners manage their brands carefully to create shareholder value. Brand valuation is a management technique that ascribes a monetary 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 company's 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.[12] 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.
Etymology[edit]
The word brand, originally meaning a burning piece of wood, comes from Middle English brand, meaning "torch",[13][14] from Old English brand.[15] It became to also mean the mark from burning with a branding iron.[13]
Expanding role of brands[edit]
The original aim of branding was to simplify the process of identifying and differentiating products. Over time, manufacturers began to use branded messages to give the brand a unique personality. Brands came to embrace a performance or benefit promise, for the product, certainly, but eventually also for the company behind the brand.
Today, brands play a much bigger role. The power of brands to communicate a complex message quickly, with emotional impact and with the ability of brands to attract media attention, makes them ideal tools in the hands of activists.[115] Cultural conflict over a brand's meaning has also influences the diffusion of an innovation.[116]
During the COVID-19 pandemic, 75% of US customers tried different stores, websites or brands, and 60% of those expect to integrate new brands or stores into their post-pandemic lives. If brands can find ways to help people feel empowered and regain a sense of control in uncertain times, they can help people reconnect and heal (and be appreciated for it).[117]
A doppelgänger brand image or "DBI" is a disparaging image or story about a brand that it circulated in popular culture. DBI targets tend to be widely known and recognizable brands. The purpose of DBIs is to undermine the positive brand meanings the brand owners are trying to instill through their marketing activities.[145]
The term stems from the combination of the German words doppel ('double') and gänger ('walker').
Doppelgänger brands are typically created by individuals or groups to express criticism of a brand and its perceived values, through a form of parody, and are typically unflattering in nature.
Due to the ability of doppelgänger brands to rapidly propagate virally through digital media channels, they can represent a real threat to the equity of the target brand. Sometimes the target organization is forced to address the root concern or to re-position the brand in a way that defuses the criticism.
Examples include:
In the 2006 article "Emotional Branding and the Strategic Value of the Doppelgänger Brand Image", Thompson, Rindfleisch, and Arsel suggest that a doppelgänger brand image can be a benefit to a brand if taken as an early warning sign that the brand is losing emotional authenticity with its market.[145]
The ISO branding standards developed by the Committee ISO/TC 289 are:
Two other ISO standards are being developed by ISO/TC 289: