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The roles of the brand:
thank you once again Mr. Nadjib for your invitation.
I think Mr. Emmanuel explained very well.
Agree with expert ansewrs above
Any name, term, design, symbol, or feature that distinct and identifies one organization’s goods or services as from others is a Brand and it reflects the personality, values and spirit of the organization, visually appealing to a wide audience.
Thank you for invitation, experts already explained well
Thanks for invitation -
It represents the history and professional experience (professional long) until adulthood to absolute trust by customers !!!
In ancient time, branding was in its infancy. At that time, people still made most of the products that they consumed (such as food, soap, and clothes) or purchased them directly from producers who were their friends and neighbors. People had faith in the quality and safety of the products because they knew the people who made them.
As our economy became more specialized consumers were more removed by both distance and time from producers. The introduction of labor-saving machinery, which increased productivity markedly, also dictated the concentration of producers in a manufacturing area. Thus, the village silversmith or baker or cobbler was replaced by a factory that produced a high quality product at a more competitive price. Consumers valued the potential quality consistency and savings, but they no longer knew the people who made their products. Similarly, as individual consumers became more specialized in their roles as producers, they themselves made even fewer of the products they consumed and relied increasingly on other specialists to meet their material needs.
In a large market, consumers do not care who makes their products. In this sense, the market is the great equalizer, as producers of all races, ethnic origins, religions, and genders unleash their creative energies to meet the needs of consumers. While consumers do not care who makes the products, they care very much how the products perform. They want to know that the product they purchase will meet their expectations.
In this consumer environment, brands play a critical role. When consumers first started purchasing more food and raising less themselves, they purchased items from a bulk bin. They had no information about what ingredients the products contained, how safe they were, and how they would perform. Branding created the protection that consumers demanded. The brand name signified a level of quality and consistency consumers could trust.
Now a day’s where products, markets, and industry boundaries are in flux, a well-managed brand can be a prime source of strategic direction and competitive advantage. Today branding is such a strong force that anything from salt to lemon juice and water is branded.
Therefore, a brand is a product or service which help the organization differentiate their products or services from others.
A brand is a perceptual entity that is rooted in reality but reflects the perceptions and perhaps even the idiosyncrasies of consumers. Ultimately a brand is something that resides in the minds of consumers.
To successfully brand a product it is necessary to teach consumers:
1. Who the product is.
2. What the product does.
3. Why consumers should choose that particular brand.
A branding strategy shall be considered successful only when the consumers have an answer to the above three questions which is strong enough to make them believe that there are significant differences in the products or services provided by a brand than others.
So all the above point we can summarize the Role of Brand which as follows:-
(i) A brand identifies the seller or maker.
(ii) A brand protects both the consumer and the producer from competitors who would attempt to provide products that appear to be identical.
(iii) A brand reduces the primacy of price upon the purchase decision.
(iv) It accentuates the bases of differentiation.
(v) A brand is essentially a sellers promise to consistently deliver a specific set of features, benefits and services to the buyers.
(vi) A brand gives the seller the opportunity to attract a loyal and profitable set of customers. Brand loyalty gives sellers some protection from competition and greater control in planning their marketing programs.
(vii) Strong brands help build the corporate image, making it easier to launch and gain acceptance by distributors and customers.
(viii) Managing a positive brand image creates opportunities to introduce new products that build on brand equity. It helps to attract and retain good employees and it improves the stockholders.
COMPANY
Provides legal protectiom towards unique features or aspects of the product.
Product can be copied but brand can't be copied. once a brand is established, it invaluable asset of the company.
A well established brand adds to the overall value of the company while calculating its worth.
Company can charge a preminium for owning a brand boosting profit on every sale.
Brand loyalty helps company retain the existing customers, attract potential ones when diversifying from one product line to others.
CONSUMERS
It helps them to identify the source of manufacturer of that producr & simultaneously assign a responsibility towards the company for the branded product.
Brands bring with them a certain level of quality assurance in the eyes of the consumers.
Thanx for the invitation
in my opinion-
Unique design, sign, symbol, words, or a combination of these, employed in creating an image that identifies a product and differentiates it from its competitors. Over time, this image becomes associated with a level of credibility, quality, and satisfaction in the consumer's mind (see positioning). Thus brands help harried consumers in crowded and complex marketplace, by standing for certain benefits and value. Legal name for a brand is trademark and, when it identifies or represents a firm, it is called a brand name. See also corporate identity.
so present time cutomer trust on brand without thinking a second .They are thinking brand product is very best quality.
Read more: http://www.businessdictionary.com/definition/brand.html#ixzz4CHiy2MpN
Thanks for the invitation, I agree with all answers
