Definitions of a brand…
There are so many definitions of a brand. Here are some of many:
A brand is a promise
A brand is the emotional and psychological relationship you have with your customers
A brand is a name, symbol or logo
A brand must mean something to customers
A brand sells an experience and tries to fulfil a promise
In agreeance with the notion of promises, a brand is a promise, representing value to a customer. It is both tangible and intangible. It is not only a name, symbol or logo that sums up the different characteristics to identify products, services, people or ideas – but it is also a collection of perceptions in the mind of a consumer.
From a consumer perspective
A brand is a combination of unique, tangible and intangible components that differentiate a product, service, person or idea from another. In addition, a brand delivers value to the customer. The amount or type of value delivered is differentiated and perceived differently, as brands mean different things to different people.
From an organisational perspective
A brand offers legal protection for unique aspects of a firm and its products, services and employees. A brand not only identifies the firm however, but it also provides intellectual property rights, ensuring the company (including business partners) can safely invest in the brand and potentially reap financial, physical, social and functional rewards. If a brand is trusted in the marketplace, and is known for producing quality products or services, it is much more likely to gain and sustain a competitive advantage than other companies.
Example of a Brand
An example of a brand is L’Oréal. L’Oréal is a corporate brand – a trusted, worldwide healthy and beauty company known for its vast strong, unique and favourable brand portfolio such as Garnier, Maybelline and L’Oréal Professionnel (professional hair care products). It is suffice to say that L’Oréal’s reputation is second to none; its intellectual property rights are vast, which ensures that other businesses (e.g. groceries, pharmacies, hairsalons, agencies) can safely invest in the reputable brand given that its consumers hold the L’Oréal brand in high regard and remains profitable. There are, of course, consumers who will not use L’Oréal products for their own reasons. They may be influenced by opinion leaders, have had a poor past experience with the brand, or may perceive it to have high brand superiority (or alternatively cheap if produced for mass markets) and therefore will opt to negotiate with a competitor. It is therefore L’Oréal’s mission to acquire these customers, reward loyal customers to continue to “aspire to beauty”.
Super Quick Summary of A Brand
Overall, a brand is a symbolic device that will aim to create awareness, reputation, prominence and reposition consumers’ perceptions and societal values. It provide a source of identification for its goods, services, people and ideas and provides both tangible and intangible value to consumers.
What is your definition of a brand? What does a brand mean to you?
"This groundbreaking film is a cinematic wonder, but its vivid world is nearly void of brands", says brandchannel. But brands aren't only symbols and logos. The image above already depicts many forms of branding that differentiates humans between avatars as well as social classes among avatars.
