A brand (also known as a trademark) is a name, term, sign, symbol, design or a combination of these that is assigned to a product (or service) in order to identify it and distinguish it from other products that exist in the market.
The brand is such an important component for a product. Today, there is practically no product that does not have a brand nor a consumer who does not pay attention to the brand when deciding to buy such a product.
Your brand allows your consumers to identify your product and distinguish it from other products in the market, convey your identity to them, make them notice the quality of your product, and persuade them to buy it.
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In addition, over time, a decent brand generates positive experiences, perceptions and feelings in consumers. This gives them the will to pay the price you ask for your product even when it is much higher than that of the products of the competing brands.
Famous brands such as Coca-Cola and Nike are examples of brands that fully benefit from this premise. Even when they cost more, they are considered more valuable.
As such, in the field of marketing, branding is a very important part. It gives your customers the capacity to transmit the identity of your product, to assist its quality to become noticeable and then in promoting it.
This helps the positioning of your products in the minds of your consumers and plays a very important role in the recognition of your company. The brand is the base on which the image of a company is built.
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Many companies use the name of their brands to launch product lines, that is, several products, with different characteristics. They make use of their already positioned brand to improve the product’s acceptability and make profits. For example, a lot of people will say ‘If it’s Nike’s product, it’s good.’
Generally, branding aims to publicize the concept of what the company is and its importance in the industry as an instrument for the competitiveness of commercial sectors.
Through branding, the consumers recognize the importance of your brand while advertising the products. It helps to publicize how your brand is made of and the advantages of having the brand positioned in the market. It also helps to identify and show the composition of your brand’s structure.
Branding constitutes the specific purpose of advertising, which is to propose and promote your qualified products. It also provides identity and differences to products or services, thus increasing their value compared to those without a brand.
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In most countries, a trademark must meet two requirements to be registered and validated. It must be distinctive and capable of graphic representation; that is, the brand must be unique and accept an illustration of it, in order to generate greater remembrance in the consumer’s mind.
However, it is impossible to start the positioning of a brand by simply changing the name of a product, its colour, its size, its packaging, or maybe its price. Proper branding is a large and complex system involving lots of analysis that depends on a good marketing study and the future of the product in the market.
THE IMPORTANCE OF BRANDING
The brand is very important as it represents the company. It is about building a company that gives confidence to the consumer. It is the promise to the client intended to make the client believe in the brand and continually associate with it.
The brand is created through a combination of traditional media such as TV, radio, newspaper, panoramic, and of course the Internet.
It is a market in formation, which means that there are no established players or leaders. Everyone has the opportunity to create something important, to take a position and develop their market.
TYPES OF TRADEMARKS
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There are three fundamental divisions: Nominative Brands, Figurative Brands, and Mixed Brands.
Registered trademarks are made up only of nominative elements, letters, numbers, and some signs and characters of the alphabet, without taking into consideration their shape or drawing. These can be letters, numbers, a combination of letters and numbers, words with or without meaning, advertising phrases etc.
Figurative Brands are made up of figures, drawings, graphic representations, letters or words made from their shapes or colours.
Mixed trademarks are made up of a word element (one or more words) and a graphic element (one or more images), always having a predominant element, or “the characteristic dimension” of the mixed trademark.
They consist of the identification of one of the component elements of the brand as the main one. This means that between the graphic and the word elements, there is always one more important than the other, the most striking.
STRUCTURE OF A BRAND
To form a brand we need to make use of the following elements:
NAME: Made up of the part of the mark that can be pronounced. It’s the brand’s verbal identity. An example includes Coca-cola, 7up, Pepsi etc.
LOGO: It is the graphic representation of the name, the proper spelling with which it is written.
ISOTYPE: It is the graphic representation of an object, which is a sign-icon. Examples include the representative isotypes of Pepsi and Coca Cola
CHROMATIC RANGE or CHROMATISM: It is the use and distribution of colours in depicting the brand.
GRAPHIC DESIGN OR GRAPHISM: They are the drawings, illustrations, not pronounced, that is part of the brand’s visual identity
Perhaps the name of the brand is the most important part of it all since it is the name that the consumer is going to ask at the time of purchase.
FUNCTIONS OF BRANDING
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A trademark allows mainly to identify a product and distinguish it from other products on the market. But in addition to fulfilling this function, it also fulfils several other functions. Here are the main functions of a brand;
- Distinguishing function
The brand allows consumers to identify a product and distinguish it from other competing products and thus, for example, highlight the product from among many products that exist on the market today.
The distinctive force is the essential function of a brand that allows the consumer to choose the product or the service they want, and by choosing it, it rewards the efforts of the brand owner who builds a clientele and increases their profits.
- The function of indication of origin and business identity
A trademark allows consumers to know the origin of a product; that is, the company that produces or markets it; but also, it serves as a means of transmitting the concept, style, personality or essence of the company or product (it transmits an identity).
The product is related to the manufacturer, that is, the one that gave rise to that brand, that is why we say this product brand is from that company and then decide if we want to acquire it or not.
- Quality indication function
A brand allows consumers to notice the quality of a product and help ascertain that a new product of the same brand that is launched on the market has a good quality. For example, if the product is of good quality, consumers who try it will not only buy it again but are also willing to try other products of the same brand (which helps to build customer loyalty).
Consistent quality is important. The customer expects to find the same or better quality than the first time he purchased it because companies concentrate on keeping their clientele through the characteristics of the product.
- Advertising function
Finally, a brand allows advertising to be enhanced, since it serves as a means to convey some important attribute, benefit or characteristic of the product. It helps to persuade its acquisition and facilitates the familiarization or positioning of this in the minds of consumers.
The brand then accumulates fame in itself. That acquired prestige remains in the brand, and this benefit can be used for other products within the same line or to expand the product line. This will then generate greater brand recognition for the company and therefore a better degree of positioning in the market generating higher profitability.
In general, we could say that a brand has the function of persuading consumers to buy a product, and then to buy it again, but also to buy other products of the same brand.
Brands can be classified in very different ways. In general, we will classify them as follows;
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- Trademarks: These are signs or set of signs that distinguish the products of a company from the competition.
- Service marks: These includes any sign or set of signs that serve to distinguish the services offered by an institution from its competition, for example, universities, hospitals etc.
- Certification marks: Any sign or set of signs that certify the common characteristics, in particular the quality, the components and the origin of the products or services produced or distributed by authorized persons.
- Collective trademarks: Any sign or set of signs that associations of producers, manufacturers, traders or service providers use to distinguish in the market the products or services of their members from the products or services of members who are not part of these associations.
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