This book aims to dispel the cloud of these peripheral issues and clarify the foundations on which strong brands are built, with a distinct focus on the higher-order connect between the prospects and the brands. With the help of India-based examples and illustrations, the book analyzes why brands have become indispensable in our lives. It communicates the key concepts of branding and branding strategy with an optimum degree of lucidity.
Chapter 2: What is a Brand?
What is a Brand?
Understanding what brands stand for is important for managers. However the question as to what is the import of the term ‘brand’ is of less consequence for consumers. Brands are created and managed by managers. Brands are important because they are primary instruments of value creation. Brand is ‘the’ asset that makes the crucial difference between the sterling performing companies and the also ran ones. For the customers brands are valuable for the value addition that they bring to the market entity. With effective branding a product can be pushed into a higher value orbit by transforming its value content and connection with the prospects. On the one hand a branded product or service experience can provide higher ...