what is brand

 

what is brand Meaning and definition of brand

A name that gives a special identity to any product is called a brand. The identity of any business is considered. Brand is considered to be a very broad term. It refers to a name, mark or picture by which a producer distinguishes his produced goods from those of other producers. Under this, the name of the product and any letter, symbol or word can be included which gives information about the product and through this the product is identified. This is the reason that today the interest towards the brand is increasing among the customers. Not only this, every product considers it necessary to use a brand to fulfill its long-term marketing interests.

According to Copeland, “Brand may be defined by any sign, mark, symbol, letter or letters that indicate the origin or ownership of an article and distinguish the article by its quality and for the same purpose.” does not confer the same right to its use as others."

William J. According to Stanton (William S. Stanton), "All trademarks are brands and thus include words, text and numbers that may be pronounced. This includes the design of the picture."

According to the American Marketing Association, "A brand is a name, designation, symbol, or design, or a combination thereof, by which a seller and a seller are identified." Group products or services are identified and differentiated from the competition

It is thus clear that while planning to sell its product in the domestic and foreign market by an organization, it should be seen whether its product has a distinct identity from the products of other competitors. This identification can be given by giving a name, mark, mark or design to its product, this action is called branding; For example, Bajaj fans, Apple phones, Tesla cars or Tata products are known by their names.

trademark

A logo can be a unique identification of your goods. A trademark can be any word, phrase, symbol, design or combination of these things that identifies your goods or services. This is how customers recognize you in the market and differentiate you from your competitors. It is easy to advertise your product. You trade mark is the identity of your brand

Your trademark entitles you to a right that you legally own a particular word or phrase and to prevent others from using it. However, you do not have the right to the word or phrase in general. You only have the right to use the word or phrase that is associated with your specific goods or services. And you have a legal right to that.

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difference between brand and trademark

The following differences are found between a brand and a trademark: (1) Brand is used in a broad sense because a name, designation, symbol or any specific design is used under it. In contrast, the nature of a trademark is narrow. A trade mark or trademark is that part of a brand which is duly registered. It is part of the brand.

difference between brand and trademark

The following differences are found between a brand and a trademark:

 (1) Brand is used in a broad sense because a name, designation, symbol or any specific design is used under it. In contrast, the nature of a trademark is narrow. A trade mark or trademark is that part of a brand which is duly registered. It is part of the brand.

(2) Designation, name, picture and mark are included in a brand whereas in trademark there is only name and picture.

(3) Brand refers to the qualities of the goods produced by the company whereas trademark is only the identification mark of the company in which that article is made. Thus, the trademark represents the name while the brand represents the qualities.

(4) It is not necessary to register the entire brand as a whole, but it is mandatory to do so for a trademark because the trademark is the registered part of the brand itself.

             importance of brand

Brand selection plays an important role in international marketing. Once a good brand is replaced with an effective and aggressive advertising strategy, the exporter can harness the brand loyalty generated by it for a long time. When brand loyalty arises, the exporter plans his sales efforts in such a way that he does not get involved in price competition. A well-branded product provides a satisfaction to the customer. This makes him feel proud to use that product. From the point of view of convenience, the benefits of a brand can be divided into two parts.

choosing a good brand
From the point of view of the international market, great care is required while choosing a brand because in future this brand or mark can prove to be a boon or a curse for the organization. If the management pays attention to various things, then it can choose a good brand for its products.
(i) The brand name should be short and simple.
(ii) It can be easily remembered.
(iii) It can be easily pronounced by the customer.
(iv) Beauty is supposed to awaken the feeling or the feeling of happiness.
(v) the sentiments of any particular part of the export markets are not adversely affected.
(vi) Indicates any important feature of the product.
(vii) The brand name does not generate negative feelings from geographical, religious, social and sexual point of view.
(viii) The brand name should be such as to avoid inconvenience to it in seeking legal protection abroad.

   Single Brand vs Multiple Brands

    When a manufacturer makes and markets only one brand. This is a model of a single brand, but on the contrary, when a manufacturer markets several brands, it is called a multiple brand. Now the question arises that why the manufacturer makes many brands. The answer is that when the manufacturer finds that he can satisfy his customers by making different brands by looking at their different wants and needs, then he starts doing so. The aim of the manufacturer behind this is to increase the profits. For example, the manufacturer of Citizen watch found that by dividing the market, they should give a watch from a new brand for the youth. So he presented a new watch for them in the name of Vega. This is a sample of multiple brands

 Brand Protection 
One way to protect a brand is to register it as a 'trademark'. This registration has to be done in all the countries where that manufacturer's brand is being sold. It may not be possible for a manufacturer to register in all countries. It costs a lot. Then registering in countries where very few goods go, it will be such a waste, because it will bring less profit. The first attempt at brand protection was the Paris Convention or in which trademark rights were defined. At present, in the eighth round of GATT negotiations, there was a Trade-Related Intellectual Property Rights Agreement (TRIPS) which now applies to 140 countries with the benefits of the World Trade Organization. This agreement talks about protecting the right to intellectual property of human beings. This includes patent, copyright, trademark, industrial, design, etc. With the implementation of this agreement, it is now expected that an exporter can get his brand registered in those countries, which will no longer be easy to violate.

Brand is an important hallmark of modern business. How much your production will cost determines a lot on your brand value. If you want to differentiate your business, then you have to convert your business into a brand.