|English and Hebrew Coke labels in an Israeli supermarket (photo: Yoninah/Wikipedia)|
Every company wants to create a unique name of itself or of an image for a product in the consumers' mind. Branding is the marketing practice of doing the same including creating symbol or design that identifies and differentiates a product from other products. An effective brand strategy attracts and retains loyal customers and gives a company a major edge in increasingly competitive markets. In marketing, brand management is the analysis and planning on how that brand is perceived in the market. Brand management aims to create an emotional connection between products, companies and their customers and constituents. Branding is the idea of advertising to call public’s attention to one's business, usually for the purpose of selling products or services, through various forms of media, such as print or broadcast notices. Companies have now experienced a new challenge with the introduction of social media. Social media is known for having a long term affect on consumers as branded social campaigns create thoughts, perceptions, images, feelings and experiences to consumers, which make the brand memorable and stand out. Below are 12 facts about branding or promotion.
1. A brand name that is well known to the great majority of households is also called a household name.
2. The origin of branding can be traced to ancient times, when specialists often put individual trademarks on hand-crafted goods. The branding of farm animals in Egypt in 2700 BC to avoid theft may be considered the earliest form of branding
3. By 1266, English bakers were required by law to put a specific symbol on each product they sold.
4. The modern discipline of brand management is considered to have been started by a famous memo at Procter & Gamble by Neil H. McElroy.
5. The first known promotional products in the United States are commemorative buttons dating back to the election of George Washington in 1789.
6. The 'Xerox' Company continues to fight heavily in media whenever a reporter or other writer uses 'xerox' as simply a synonym for 'photocopy'.
7. Among the most highly visible and recognizable brands is the red Coca-Cola can. Coca-Cola's history is so replete with uncertainty that a folklore has sprung up around the brand, including the (refuted) myth that Coca-Cola invented the red-dressed Santa-Claus which is used to gain market entry in less capitalistic regions in the world such as the former Soviet Union and China.
8. By Appointment to His Royal Majesty" was a registered and limited list of approved brands suitable for supply to the Royal British family.
9. Bass & Company, the British brewery, claims their red-triangle brand as the world's first trademark.
10. The word "brand" derives from the Old Norse "brandr" meaning "to burn" - recalling the practice of producers burning their mark (or brand) onto their products.
11. The oldest generic brand, in continuous use in India since the Vedic period (ca. 1100 B.C.E to 500 B.C.E), is the herbal paste known as Chyawanprash, consumed for its purported health benefits and attributed to a revered rishi (or seer) named Chyawan. This product was developed at Dhosi Hill, an extinct volcano in northern India.
12. Ferrari is the world's most powerful brand according to Brand Finance
Brand awareness can be separated into two different categories, brand recall and brand recognition. The four different levels of measuring brand awareness can be identified as Brand Recognition, Brand Recall, Top-of-mind, Brand name dominance. If you are interested to know more about branding, contact us.