What Is A Brand And 4 Types of Brands You Should Know

 

What is a Brand in Business

The Definition Of A Brand: What Makes a Brand Successful

What is a Brand?

A brand is helps people identify a specific company or product and refers to the concept of business and marketing. It is intangible and cannot be touched or seen. It is the product's identity, brand, quality and privileges within the market that will distinguish it from others.


How do we understand the brand:

People often confuse logos and trademarks, and these terms are used interchangeably, but they are characterized by:

  • They are marketing tools that companies often use to promote and market their products and services.
  • These tools create a brand identity with which companies will compete and differentiate themselves.

The brand is considered one of the most valuable and important assets for companies, as any company is known from its brand.

And often they are separate and become one company such as Pepsi, until most of the famous soft drinks become synonymous with the same company because of its control over the market and that it carries a huge financial value.


Types of Brands

Below I will mention to you the types of brand that companies have:

Corporate Brands

Corporate branding is a way for companies to market themselves in order to give themselves an advantage against their competitors. Such as: pricing, and target market.


Personal brands

No longer just corporate branding, people use tools like social media to build their personalities and enhance their brand like social media posts, photo and video sharing, and meetups.


Product brands

This is called the merchandise brand, which markets for one specific product and targets customers for the product and does market research and testing.


Service brands

This type applies to services that require creativity, showing services in a distinctive way to customers, and marketing for them.



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