Explore brand names and their critical value to building brands and the business. Look some case studies and reference clearly using the Harvard referencing system
Businesses nowadays are often seen trying to brand their products. It is by attempting to brand your product/organization that you extend the brand beyond the name of the organization or product to include the characteristics of brands. A successful business is based on an appealing and recognizable brand.
By branding you are essentially showing the promise of what the product will deliver or what the customer will experience. Branding helps develop a personality for an organization or product. The brand image will show how consumers view the organization. By focusing on target markets and focus on the customers wants and needs. The company must rely on customer feedback by doing tests, samples, internal surveys, conduct statistics, and international surveys.
Branding will only work when organizations behave and present themselves in a consistent way. For example McDonalds is a worldwide fast food chain. It is known for it’s famous way of marketing it’s brand. It is consistent, constant, and provide product clarity. By a brand constantly providing consistent products throughout the world while successfully maintaining their identity, then they have raised a very successful international business. McDonald’s has conducted thorough and extensive research before entering the market. They have conducted research in the economic, legal, social, and the technological aspects of the market. These studies and research has helped them establish their grounds and basis of their brand name.
Identifying what the business is and what it is about; is the main idea of branding. By expressing the organization’s views or goals in a graphic logo, slogan and color schemes etc. it identifies or marks what distinguishes their brand from the market and their competitors, by doing that they are gaining their edge. By doing so, the consumer then understands the value and standards of the organization. The organization offers a promise to the community and consumer and this promise, which is the promise of quality and value, sets the organization apart from their competitors in the market. It differentiates them from the others and allows them to attract customers and build a loyal base of customers among the groups of people who can help them achieve their goals.
Another example of brand name is Apple. Apple is now at one of the forefronts as being one of the best companies in the world. They say that Steve Jobs, the founder of Apple, thought of the name Apple Computers while he was at a small community farm in Oregon. The name wasn’t flashy or fancy or even the occasional weird names such as Yahoo! Or Google. The name Apple was simple and concise, thus the characteristics of the name Apple co. is now being mirrored onto it’s products. All of Apple’s products are produced simply, user-friendly, and eco-friendly. Apple was so successful at branding that in 2004 it beat Google as the top brand name of the year.
In conclusion, a brand name helps to identify and recognize the brand. They identiy the brand before they signify product. Branding helps consumers identify the product quicker, maintains a consistent product and a consistent loyal customer base, and it also increases the media outreach.
Bibliography
LeClaire, J., 2005. Apple beats out Google as top brand name 2004. [Online] Available at: http://www.macnewsworld.com/story/40151.html [Viewed on: 12/11/2011]
Management hub, n.d. Power of a brand name and how do you analyze a brand potential. [Online] Available at: http://www.management-hub.com/brand-management-power.html [Viewed on: 14/11/2011]
Ceeq, M., n.d. Why apple is apple, history of the brand name. [Online] Available at:
http://cgull8m.hubpages.com/hub/Why-Apple-is-Apple-History-of-the-brand-name[Viewedon: 14/11/2011]
Mcdonalds, n.d. Marketing at Mcdonalds. [Online] available at:
http://www.mcdonalds.co.uk/static/pdf/aboutus/education/mcd_marketing.pdf[Viewed on:14/11/2011]
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