Brand for A Company is Reputation
Introduction: Before looking into Brand Management, let’s construct our structure of knowledge from the basic ideology of what a Brand is. According to the American Marketing Association (AMA), brand is a “name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.” To better explain the same, let’s put it this way, “A Brand is A Promise”

Brand and its Role: Alike people in a community, there are numerous goods and services in any given market. And the funniest part is that, there are products in the market which have the same features but from different houses and celebrities endorsing different products of different houses. For example, ShahRukh Khan endorses the telecommunication brand Airtel and DishTv of Zee. But Airtel also has a DTH service which is being endorsed by other celebrities. But then we all have our own choices; be it a pencil or a car.
Scope of Branding: Branding is endowing products and services with the power of a brand. It’s all about creating differences between products and offering instant recognition and identification. For branding strategies to be successful and brand value to be created, consumers must be convinced there are meaningful differences among brands in the product or service category. This very much depends up on the advertising campaign of the product..
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