SCDL MBA PROJECT - Project Report on brand management

SCDL MBA PROJECT -   Project Report on brand management 

1.1 Introduction to Branding

The American Marketing Association defines a brand as “A name, term, sign, symbol or design or a combination of them, intended to identify the goods and services of one seller or group and to differentiate them to those for competitors”. A brand is thus a product or service that’s adds a Dimension that differentiates it in some way from other products or services designed to satisfy the same need. These differences may be functional, rational, or tangible- relate to product performance of the brand.

Branding has been around for centuries as a means to distinguish the goods of one producer to those of another. The earliest signs of branding can be traced to Europe where the medieval guilds required that craftsmen put trademarks on their product to protect themselves and producer against inferior quality substitutes. Also in fine arts branding began with artists signing their works. Brands today play a number of important roles that improve the consumer’s lives and enhance the financial value of firms.

Brands identify the source or maker of the product and allow consumers-either individual or organizations- to assign responsibility to a particular manufacturer or distributor. Consumers may evaluate the identical product differently depending how it is branded. Consumers lean about the brand with its past experience