Assignment on Difference between Brand and Product
Example of Product and Brand
=> Convenience product
Example: Salt, Brand- ACI PURE
=> Shopping product
=> Specialty product
Example: High price photographic
=> Unsought product
Example: Life insurance
=> Privet Brand
=> National Brand
=> Industrial Brand
Example: Cock brand = Soft drink is a product
Shampoo is a brand = Head & Shoulder is a product
Difference between Brand and Product
So let’s talk about what is the difference between a product and a brand. This is a quote from Steven King from the WPP Group, a big international advertising agency. A product is something that is made in a factory. A brand is something that is bought by a consumer. A product can be copied by a competitor. A brand is unique. A product can be quickly outdated. And successful brands are timeless. And keep that in mind. Because it is all about differentiating. Here is a great example. I mean Coca Cola is probably the premiere brand in the world. And the product on the left is probably a good product. It’s from Safeway. But it’s just a product. There is no brand there. Let’s talk more about what is a brand. A brand is what differentiates a product from other competitive products in the marketplace. And it’s grounded in positioning. Remember that word positioning because it’s what that brand is in the mind of the consumer. How they think of it. It’s the personality of that brand. And ultimately the consumer positions the brand. I mean we will try as brand managers to position it. But ultimately it is the perception of the people who buy it. And what makes a company strong is not the product or the service, it is the position that it owns in the mind. So why is that positioning important? To consumers, it gives them meaningful reason to choose your brand over the competition. It differentiates you in a very meaningful way. And often times it will allow you to charge a premium for your product. To marketers, it is really a blueprint for how you grow that business. Remember, you are in charge of the profit and loss statement. You are running that brand like your own small business. So it’s really the blueprint on how you go forward. How you do your strategies. It’s the road map. And all elements of the positioning statement should be integrated to fit together to capture the consumer insight.
Related Marketing Paper:
Popular Marketing Paper:
1.0 INTRODUCTION Berger is one of the oldest names in the paints industry and the country’s major specially paints business with products and ingredients dating back more than 200 years to 1760. Louis Berger, a German national founded dye and pigment making business in England. Louis Berger and.....
Introduction to the Report 1.1 Problem Statement BIS Shrapnel, leading industry analyst and forecaster, in its Bangladesh Mobile Telecommunication 2005 report, predicted that mobile phone subscribers will reach a whopping 18 million in our country during the Year 2007 . However, by the end of 200.....
Executive Summary We want to market Green Coconut Water. We have prepared this feasibility plan on that basis. We have assigned a name for the product as “Jaul”. Since the raw materials are very much available in our country, we have decided to give the product an indigenous image. Jaul is a .....
Primary objective of this lecture is Analyzing Consumer Behavior. Generally Cultural factors; Social factors and Personal factors are influences Consumer Behavior. Culture is the fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and .....
Brand Equity means the differential effect that brand knowledge has on consumer response to the marketing of that brand. Brand is a name, term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them f.....