The Branding is a marketing process wherein the firm tries to create a unique image of the product in the minds of the customer and establish a differentiated presence in the market with the intent to retain the customer loyalty.
A brand is the name, symbol, icon, image or the combination of these which is intended to identify the goods and services of a particular seller or group of sellers and to differentiate them from those of the competitors.
The branding is a comprehensive term and includes the following:
Brand Name: The brand name consists of a word, letter or the combination of words that are vocalized or can be pronounced easily. The brand name gives a unique identity to the goods and services of a particular seller and can be easily differentiated from the other brands available in the market. Such as Tata Salt, Usha Fans, Nike shoes, etc.
Brand Mark: A brand mark is the part of the brand that appears in the form of a symbol, logo, design, shape or distinctive coloring which can be recognized only through the site and cannot be pronounced. The brand mark increases the recognition of the brand. Such as, a symbol of Swoosh of Nike, Amul Girl of Amul Butter, Maharaja of Air India, etc.
Trade Mark: When the brand name and the brand mark are given the legalized protection such that no other firm can use it for its product then it becomes a trademark. Thus, the trademark is the protection given to the seller to use the brand name and the brand mark and prohibiting others from using it.
Trade Name: The trade name is frequently used as a synonym for either the brand name or a brand mark, but actually it is the name of the business, preferably the name of the organization itself. Most often, the trade name is used as a brand name, but it serves two purposes, give the identity of both the manufacturer as well as the product. Such as Godrej and Tata are both the trade names and are also the brand names for most of their products.
Patents: The Patents are the legal protection given to the new inventions pioneered by any business. Any firm can get its inventions such as new process, new product or the new machine patented so that an exclusive right to use it is obtained solely by the inventor. The patent confers the right to the inventor to use the new technology while prohibits the unauthorized persons for a fixed number of years from making the commercial use of the technological invention.
Copyright: The copyright is applicable in the case of books, dramatic, musical and artistic work and carries the similar meaning as that of the patents. The copyright provides protection to the work of an author so that no other person can copy it.
Categories: Business, Entrepreneurship, marketing
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