I bet you must be telling your friends that you wear a Gucci or a Parx or that you prefer to go to McDonalds than to Nirulas. What exactly are these names? Why do we distinctly relate to them? Why do we say that I prefer to wear brand ‘X’? So my question but naturally is, what is a brand?
Brand is the proprietary visual, emotional, rational, and cultural image that you associate with a company or a product. When you think Volvo, you might think safety. When you think Nike, you might think of Michael Jordan or “Just Do It.”
When you think IBM, you might think “Big Blue.” The fact that you remember the brand name and have positive associations with that brand makes your product selection easier and enhances the value and satisfaction you get from the product. While Brand X cola or even Pepsi-Cola may win blind taste tests over Coca Cola, the fact is that more people buy Coke than any other cola and, most importantly, they enjoy the experience of buying and drinking Coca Cola.
“A name, term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or group or sellers and to differentiate them from those of competitors”.
The fond memories of childhood and refreshment that people have when they drink Coke is often more important than a little bit better cola taste. It is this emotional relationship with brands that make them so powerful.