1. What is brand
1.1. Elements of Brand
1.2. Benefits of branding
1.3. Significance Of Adopting Proper Branding Strategy 2. Service brand:
2.1. Features Of Service Brand
2.2. Role Of Employers In Success Of Service Brand
2.3. Role Of Consumer In Success Of Service Brand
2.4. Challenges Service Branding Is Facing
3. Product Brand:
3.1. Features Of Product Branding
3.2. Role Of Manufacturers In Success Of Product Brand
3.3. Role Of Consumers In Success Of Product Brand 3.4. Challenges Product Branding Is Facing
4.1. Brand Positioning
4.2. Brand Equity
4.3. Brand Identity And Personality
4.4. Brand Image
4.5. Brand Audit
The current era is considered the age of competition and the branding is one of the most convenient ways to establish a positive image in the mind of the consumers. However, it is rather difficult task to formulate an image without pondering upon each element that is indulged in the promulgation of some brand. Nevertheless, the brand can be promulgated if proper strategy is applied after selecting the best brand type.
This paper throws light upon the significance of brand and two types of brands. The first section is the clear cut mouthpiece of what the brand actually is and what the benefits of using this term. Furthermore, this section also throws light upon two types of brand, ie service brand and product brand. The essential features of both these types are promulgated keeping the definition of different scholars under consideration.
However, the main purpose of this paper is to present a comparison of the product brand and service brand. Both these types of brands have their own significance but a brand gets familiarity by passing through different stages, encountering several elements. The second section focuses on all those elements that contribute in the success of some product or service. The deep down comparison of both these types of brands is also presented side by side as well. However, different recommendations are also given to cope with the challenges aroused by the current competitive age for these two fields.
1. What is brand?
Before throwing light upon the product branding and service branding and making a comparison between both of them, it is essential to know what the brand actually is because the comprehensive definition of brand will aid to understand the entire concept.
Kotler et al (p.549,2005) gave a vivid description what the brand actually is. According to him, a brand is regarded as the combination of name, sign, symbol, or set of names that dissimilate some specific service or product from each other. Kapferer (2004) indicated that a brand is the source to drive consumer behavior and has capability to form decisions of consumers as well. A specific brand represents almost all the qualities and traits a specific product possesses. It has power of differentiating a product or service from each other and cause reliability from the part of consumer as well. In simple words, a brand is term, symbol, name, design, sign or a specific combination that is formulated to identify a specific service of good by the consumer due to its uniqueness.
1.1. Elements of Brand:
Either the brand is categorized as service brand or product brand, in each case; there are four elements that cause the fundamental recognition of the product. these four elements involve brand named that indicate a word that cause recognition of some product, trade name that indicate recognition through organization’s name, brand mark that indicates the logo of some brand and trade mark that indicates the symbol of the brand. In each case, the brand causes financial and social benefits not only to organization but also to consumers as well. Brands not only guarantee the...