A brand is a name, term, sign, symbol, or design, or a combination of them intended to
Question:
A brand is a name, term, sign, symbol, or design, or a combination of them intended to identify the goods or services of one seller from among a group of sellers and to differentiate the from those of the competitors. Thus, a brand identifies the seller or manufacturer. Under trademark law the seller is granted exclusive rights to the use of the brand name in perpetuity. This differs from other assets such as patents and copyrights that have expiration dates. If a company treats a brand only as a name, it misses the point of branding. The challenge in branding is to develop a deep set of meanings for the brand. Perhaps the most distinctive skill of professional marketers is their ability to create, maintain, protect, and enhance brands.
Brands vary in the amount of power and value they have in the marketplace. Brands are complex entities, but ultimately they reside in consumers’ minds. Consumers are not passive recipients of marketing activity and consequently branding is not something done to consumers, but rather something customers do things with. Brands can be seen developing through evolutionary stages.
The following are the five dimensions of the brand which are as follows:
a. Sincerity
b. Excitement
c. Competence
d. Sophistication
e. Ruggedness