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Brand Image for Marketing : a Critical Analysis
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People pay more for brand-name products than they do for essentially identical products lacking brand identity. Sometimes this pertains to brand as a signal of quality. However, brand-name markups are particularly pronounced in the fashion industry where functionality is less important than the brands signal of style and exclusivity. The American Marketing Association defines a brand as a "name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers. The legal term for brand is trademark. A brand may identify one item, a family of items, or all items of that seller. If used for the firm as a whole, the preferred term is trade name. A Brand is a product or service made distinctive by its positioning relative to the competition and by its personality in the context of the target market". A brand is a name or trademark connected with a product or producer. Brands have become increasingly important components of culture and the economy, now being described as "cultural accessories and personal philosophies. Strong brands help a company to maintain market share in the fact of a changing competitive environment. Most markets are dominated by two or three well known brands. It has been shown that, in turn, a strong market share is associated with above average profits. This paper makes an attempt to analyse the importance of brand image in the field of marketing.
Keywords
Brand, Brand Name, Brand Image
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