Brand

What is Brand?

Brand is the "name, term, design, symbol, or any other feature that identifies one seller's product distinct from those of other sellers. A brand – an intangible asset – is often the most valuable asset of a corporation. Brand owners manage their brands carefully to create shareholder value, and brand valuation is an important management technique that ascribes a money value to a brand, and allows marketing investment to be managed to maximize shareholder value. 

History

The word "brand" is derived from the Old Norse brandr meaning "to burn." It refers to the practice of producers burning their mark (or brand) onto their products.

The oldest generic brand, which is in continuous use in India since the Vedic period (ca. 1100 B.C.E to 500 B.C.E), is known as 'Chyawanprash', an herbal paste consumed for its purported health benefits and attributed to a revered rishi (or seer) named Chyawan. This brand was developed at Dhosi Hill, an extinct volcano in northern India.

The Italians were among the first to use brands, in the form of watermarks on paper in the 1200s. Blind Stamps, hallmarks and silver maker's marks are all types of brand.

Brand Elements

Brands typically are made up of various elements, such as:

• Name: The word or words used to identify a company, product, service, or concept.
• Logo: The visual trademark that identifies the brand.
• Tagline or Catchphrase: "The Quicker Picker Upper" is associated with Bounty paper towels. "Can you hear me now" is an important part of the Verizon brand.
• Graphics: The dynamic ribbon is a trademarked part of Coca-Cola's brand.
• Shapes: The distinctive shapes of the Coca-Cola bottle and of the Volkswagen Beetle are trademarked elements of those brands.
• Colors: Owens-Corning is the only brand of fiberglass insulation that can be pink.
• Sounds: A unique tune or set of notes can denote a brand. NBC's chimes are a famous example.
• Scents: The rose-jasmine-musk scent of Chanel No. 5 is trademarked.
• Tastes: Kentucky Fried Chicken has trademarked its special recipe of eleven herbs and spices for fried chicken.
• Movements: Lamborghini has trademarked the upward motion of its car doors.
• Customer relationship management