A brand is grounded in its fundamental elements – name, trademark, trade dress, taglines, slogans and so on and is the rightful property of the organization or person who own it.
Well known brands generally are priced at a premium, resulting in higher margins to the companies that sell them.
Strong brands create value for their shareholders by yielding higher returns than the overall market.
A powerful brands has a strong reputation in consumers’ minds, which acts as a barrier, protecting the brand against competitors.
Brand producers benefit from brands because they provide legal protection against imitators. A brand, properly registered and trademark, has a legal defense against another organization copying or infringing on its name, design, trade dress or other identifying elements.
Consumers value brands because they make personality statements about themselves. For conspicuous branded goods, for example cars and clothing, consumers value brands because they help project either an actual or an inspirational aspect of their personality.
A strong retail brand can make consumers life easier. It offers the consumer trust and reassures customers that they will get what they are looking for.
Benefits of brands
