ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Creating and managing strong product Brands

Updated on July 1, 2017

Brands are more than just names and symbols.  Brands represent consumers’ perceptions and feelings about a product and its performance. Brands exist in the minds of consumers.  Therefore, the real value of a strong brand is its power to capture consumer preference and loyalty.  A strong brand is a valuable asset to the business who owns the brand. Some brands maintain their power in the market for years, even generations. Brands like Disney, Coca-Cola, Tide and many more,  succeed the competitive battles in the market because they forge a deep connection with the culture and not just because they provide good benefits, reliable service or innovative technologies to the customer.

Branding presents challenging decisions to the business manager. He should select a good brand name to his product. He needs to develop the brand and position the brand name well in the minds of the target customers.

A good name can add greatly to a product’s success. Finding the best brand name is a difficult task which has to begin with a careful review of the product and its benefits, the intended market and marketing strategies.

Good qualities of a brand name may include the following. (1) The name should suggest something about the benefits and qualities of the product. Take examples such as Craftsman, Snuggles. (2) It should be easy to pronounce, recognize and remember the name and therefore, short names may help. E.g. Tide, Crest etc. (3) It should be distinctive. E.g. Kodak, Lexus (4) It should be extendable in the future. The great example is Amazon.com who began as an online bookseller. (5) The name should translate easily into foreign languages. (6) It should not infringe on existing brand names so that the registration of the name and legal protection will be possible.

Once the brand name is chosen it must be protected. But still, the very success of a brand name may threaten the owner’s rights to the name. Many originally protected brand names such as linoleum, thermos, nylon, cellophane have now become generic names which can be used by any seller.

Companies must manage their brands carefully. The brand’s positioning must be communicated to the customers continuously. Large companies often spend huge amounts of money on advertising to create brand awareness. Today, customers come to know a brand through a wide range of contacts including advertising but also personal experience with the brand, word of mouth, company web pages and many others. Therefore just like spending large amounts of money on advertising, companies must carefully manage these other contacts and touchpoints.

Customers are willing to pay more for the brand and this is called brand equity. A powerful brand has high brand equity. A brand with strong brand equity is a very valuable asset to a company. High brand equity provides a company with many competitive advantages. A powerful brand enjoys a high level of consumer brand awareness and loyalty. A powerful brand forms the basis for building strong and profitable customer relationships. Thus, brands are powerful assets that must be carefully developed and managed.

© 2010 Lasantha Wijesekera

Comments

    0 of 8192 characters used
    Post Comment

    • LasanthaW profile imageAUTHOR

      Lasantha Wijesekera 

      8 years ago from Sri Lanka

      Yeah Mighty Mom, that's why companies should manage their brands very carefully. Customers are willing to pay more for the brand.

      Thanks for your comments.

    • LasanthaW profile imageAUTHOR

      Lasantha Wijesekera 

      8 years ago from Sri Lanka

      Thanks Rpastorcarlotta for stopping by and making some encouraging comments.

    • Mighty Mom profile image

      Susan Reid 

      8 years ago from Where Left is Right, CA

      Very true! Every business has a brand. Some don't even realize they have one or the power it has to connect them with their customers. Or that it is really their customers, and not them, who define the brand!

      I find branding a fascinating business.

      Great hub. Glad I followed my new friend drpastorcarlotta over here! MM

    • drpastorcarlotta profile image

      Pastor Dr. Carlotta Boles 

      8 years ago from BREAKOUT MINISTRIES, INC. KC

      Very, very informational, thank you. I lijke this Hub!!When you get a chance, stop by and visit me. Blessings!!

    • LasanthaW profile imageAUTHOR

      Lasantha Wijesekera 

      8 years ago from Sri Lanka

      Thanks Fowler and Mary for your visit and encouraging comments.

    • LasanthaW profile imageAUTHOR

      Lasantha Wijesekera 

      8 years ago from Sri Lanka

      Yeah, Springboard, you are correct. A powerful brand is a great asset to a marketing oriented company. They must be preserved and protected.

      Thanks for your comments.

    • profile image

      MaryRenee 

      8 years ago

      Cool hub! Thanks for sharing! :)

    • Springboard profile image

      Springboard 

      8 years ago from Wisconsin

      There's a saying that used to be on the wall in the breakroom at the Kraft plant I once worked at that read, "It takes years to build a loyal customer, but only seconds to lose one." When you are a company your brand is the entire business. It's all important. Great hub.

    • M.s Fowler profile image

      M.s Fowler 

      8 years ago from United states

      cool hub!

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)