Premium Essay

Internet vs Tv Advertising

In: Business and Management

Submitted By RajnishDeo
Words 2427
Pages 10

According to Rita Clifton, CEO of Interbrand Newell and Sorrell - a leading specialist brand consultancy firm - a brand is:
"A mixture of tangible and intangible attributes, symbolized in a trademark, which, if properly managed, creates influence and generates value"
This definition truly captures the essence of a brand, and highlights the importance of brand management. Branding is about creating 'value', both for customers, and for the company.
This value stems from the products and services that companies create and bring to the market, but extends further to encompass added values derived from factors such as the brand-customer relationship, the brand's emotional benefits and its self-expressive benefits.
Other common descriptions of a brand include - a 'relationship', a 'reputation', a 'set of expectations', and a 'promise'. It is a company's promise to consistently deliver a specific set of features, benefits, and services to customers.
Brands are richly endowed entities. They start life as ideas, making their way into planning and strategy documents, yet ultimately reside as consumer perceptions. For some companies, brands are their most valuable asset. The space a brand occupies inside a customer's head can create a 'mental' patent, which grows out of the cumulative memory and the experiences customers have of products or services. As such, brand-building is about creating value through the provision of a compelling and consistent customer experience that satisfies customers and keeps them coming back.

Brands are made up of four layers - the core product or service, the basic brand, the augmented brand and the potential brand -
Product / Service
At the most basic level, customers buy products to...

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