A brand is the identity of a specific product or service. A brand can take many forms, including a name, sign, symbol or slogan. It is a trademark and registered under copyright.
Nike is a brand and the famous Nike swoosh is their logo. The slogan 'just do it' is also synonomous with Nike.
Brands attempt to create a positive image in the minds of customers. Levi's jeans claim they are of higher quality than their rivals even though this is disputed. Levi sells their higher priced jeans on the image of being cool and being aspirational - their advertising has long traded on Levi being rebellious yet cool.
Brands can charge premium prices and aim for customer loyalty. If Brands provide quality products and services over time then customers will come back again and again. It aslo makes it easier for Brands to launch similar products creating a family of products.
Brands take time to create and develop, and are fragile. If bad press affects a product it can damage the whole product range and the company (in the same way one franchisee's behaviour can ruin the reputation of the entire franchise).
Own Brands are sold by retailers such as the large supermarkets Tesco, Asda and Sainsbury's. Own Brands often imitate the colours and shapes of the more expensive Brand.
Dorito's Salsa dip is roughly £1.38. Whereas Tesco's own dip is 96p.
Sometimes the Brand sell their goods to the retailer who repackage the product as their own brand in order to maximise profits.
Normally customers view own brands as cheaper and of lower quality.
In the USA own brands are called Private Label Brands. The generic term is Store Brands, however in the UK we call them Own Brands.
Examples of Own Brands
Asda (Smart Price, George)
Tesco (Florence & Fred)
Morrison's (The Best, Eat Smart, Wholefoods)
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