Brand Management

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What is a Brand ?
Brands were originally developed as labels of ownership: name, term, design, and symbol. However, today it is what they do for people that matters much more, how they reflect and engage them, how they define their aspiration and enable them to do more. Powerful brands can drive success in competitive and financial markets, and indeed become the organization's most valuable assets. A brand is name, term, sign, symbol, design, or a combination of the above to identify the goods or service of a seller and differentiate it from the rest of the competitors. Marketers engaged in branding seek to develop or align the expectations behind the brand experience, creating the impression that a brand associated with a product or service has certain qualities or characteristics that make it special or unique. A brand image may be developed by attributing a "personality" to or associating an "image" with a product or service, whereby the personality or image is "branded" into the consciousness of consumers. A brand is therefore one of the most valuable elements in an advertising theme. The art of creating and maintaining a brand is called brand management. A brand which is widely known in the marketplace acquires brand recognition. When brand recognition builds up to a point where a brand enjoys a critical mass of positive sentiment in the marketplace, it is said to have achieved brand franchise. One goal in brand recognition is the identification of a brand without the name of the company present. History of Brands

In the field of marketing, brands originated in the nineteenth century with the advent of packaged goods. According to Unilever records, Pears Soap was the world's first registered commercial brand. Industrialization moved the production of household items, such as soap, from local communities to centralized factories. When shipping their items, the factories would brand their logotype insignia on the shipping barrels. These factories, generating mass-produced goods, needed to sell their products to a wider range of customers, to a customer base familiar only with local goods, and it turned out that a generic package of soap had difficulty competing with familiar, local products. The fortunes of many of that era's brands, such as Uncle Ben's rice and Kellogg's breakfast cereal, illustrate the problem. The packaged goods manufacturers needed to convince buyers that they could trust in the non-local, factory product. Campbell soup, Coca-Cola, Juicy Fruit gum, Aunt Jemima, and Quaker Oats, were the first American products to be branded to increase the customer's familiarity with the products. Around 1900, James Walter Thompson published a house advert explaining trademark advertising, in an early commercial description of what now is known as 'branding'. Soon, companies adopted slogans, mascots, and jingles that were heard on radio and seen in early television. By the 1940s, Mildred Pierce manufacturers recognized how customers were developing relationships with their brands in the social, psychological, and anthropological senses. From that, manufacturers quickly learned to associate other kinds of brand values, such as youthfulness, fun, and luxury, with their products. Thus began the practice of 'branding', wherein the customer buys the brand rather than the product. This trend arose in the 1980s 'brand equity mania'. In 1988, Phillip Morris bought Kraft for six times its paper worth. It is believed the purchase was made because the Phillip Morris Company actually wanted the Kraft brand rather than the company and its products. April 2, 1993, labeled Marlboro Friday, is described by Klein (2000) as the death day of the brand. On that day, Phillip Morris declared a 20 per cent price cut of Marlboro cigarettes in order to compete with cheaper price cigarettes. At the time, Marlboro cigarettes were notorious for their heavy advertising campaigns, and nuanced brand image. On that day, the prices of many...
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