Definition and Meaning of Branding - Literature review Example

95 INTRODUCTION Brands communicate important information to the by authenticating themselves with the connected worth, value of the company and the brand image. Brand is a complexity with multiple facets with both concrete and intangible attributes. It is a name, symbol, word, sign, design that distinguishes it from others through its functionality. Brand can establish an attachment and a continuous association in the minds of customers who get equally attached to the brand to the extent of being upset deprived of it.

BRAND IDENTITY Its core identity renders it a personality and through it, to the company it represents. Successful brands have clarity of their own and the connected equity focuses on the measurement of brand value by comparing the brand assets with brand liabilities and maintaining a strong brand valuation. Brand identity is the main energy that gets created by the brand name and the degree of identity is connected with the brand management, quality and awareness that is being constantly created and recreated by the organisation.

BRAND AWARENESS Brand loyalty comes from the perceived quality for which brands should never be associated with incompatible products because as an important breakthrough, it should have significant entity and should not be placed in a conflicting situation. Brand architecture should place the brand in isolated splendour, though co-branding works with detailed strategies. STRATEGIC BRAND MANAGEMENT This needs brand efficiency, profitability and cost structure through continuous leveraging and consolidation.

High-road brand, hitchhiker brand should be differentiated from low-road brands and dead-end brands for management purposes. Compatibility fit, market volatility, financing co-branding and commitment reliability should be assessed from a highly strategic point of view. MARKETING It is better to combine traditional and non-traditional marketing communication and promotion of the brands. New brand valuation mechanisms should include advertising with high-efficiency brand enhancing techniques combined with low-efficiency brand enhancers which will cut down the marketing cost.

Brand future could deteriorate if consumer perceptions and sustainable competitive advantage were neglected. There are customers who feel certain affinity for the brand, which is connected with the familiarity and reliability. But if brand personality has altered in any way, it might deter the target audience. Marketing should be able to resurrect the band with revitalisation and perceptual reinforcement at regular intervals. For this work, frequent brand audit is necessary to assess the present and future performances of the brand.

BRAND THINKING It is the work of the organisation to promote and induce brand thinking in the public mind by constantly keeping the brand on the public eye. It is important to forge an emotional bond between the brand and its appreciators, so that the customer pines for it, and loves it with a certain emotional attachment. CONCLUSION Brand is firmly connected to strategic management without which the brand might not flourish and retain its image and value. The company that perennially keeps improving the brand equity will be able to keep its brand relevant and well-known in the market.

People, managers and organisations treat their brands as great assets owned by them and find different ways and methods of nurturing their brands keeping an eye on the competition posed by other brands. BIBLIOGRAPHY: West, Douglas, John Fort and Essam Ibrahim (2006), Strategic Marketing, Oxford University Press.