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Brand (What is a Brand? (Definition (A name, term, design, symbol or other…

- - - - The name should: be easy to say, spell, and recall; indicate the product's major benefits; suggest the product's major uses and special characteristics; be distinctive, setting it apart from competing brands and be compatible with all products in line; be designed for use and recognition in all types of media; consider cultural interpretations; be capable of registration and legal protection
  - - - Manufacturer brands: brands initiated by producers; producers are identified with their products at the point of purchase
      - House brands: brands initiated and owned by resellers; also called store brands or generic brands; manufacturers are not identified in the product
      - Co-branding: using two or more brands on one product; the brands can be owned by the same company or different companies
      - Brand licensing: an agreement whereby a company permits another organization to use its brand on other products for a licensing fee; the brand licensee is responsible for all manufacturing, selling and advertising functions
  - - - Individual branding: naming each of a firm;s product differently
      - Family branding: branding all of a firm's products with the same name
      - Line extension: using an existing brand on a new product in the same product category
      - Branding extension: using an existing brand to brand a new product in a different product category
- - - - Facilitates the promotion of all same-brand products.
      - Helps in the introduction of new products.
    - - Leading to more stable market share, and less reliance on price-cutting to attract customers.