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Branding

In: Business and Management

Submitted By lmdh
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“A brand is a name, term, sign, symbol, design, or some combination of these elements, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors. The different components of a brand—brand names, logos, symbols, package designs, and so on—are brand elements.” Kotler & Keller, pg. 268)

My perception of branding has always been how a company advertises or markets it product, either through a logo, symbol or a slogan. Nike – the “swoosh” symbol, Starbucks has their coffee logo and KFC “It’s Finger lickin’ good!”

After reading the chapters on branding; listening and viewing Duane Knapp’s videos I can understand that branding is more than advertising for companies. Branding involves understanding your target market and hopefully bringing consumers to see your brand as the only product or service verses the competition. Knapp describes branding as a science, almost a formula that marketers must follow to draw consumers in.

Duane Knapp noted that brands really started to come about in the 50s and 60s when company’s needed to make their products or services genuine. This would make sense since there was more competition for products coming into the market. Branding is a way for companies to stand out from its competitors and a way to stick in consumer’s minds.

A strong brand inspires trust, loyalty and a connection to a company. It is a way of effectively communicating what a company does and has to offer its consumers. Knapp talks about in his videos about creating an emotional connection. (Knapp, 2013) An emotional connection will keep consumers coming back to by these brand name products and services.

References:

Knapp, D. (2013). Duaneknapp.com. Retrieved from Introduction To Brand Strategy: http://www.duaneeknapp.com/videos/

Knapp, D. (2013). DuaneKnapp.com. Retrieved from

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