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What is a Brand?

In Principles of Marketing,  by Philip Kotler and Gary Armstrong a brand is defined as ‘a name, term, sign symbol or a combination of these, that identifies the maker or seller of the product’

Why brand?
A brand name helps an organization differentiate itself from its competitors. In today’s competitive world no product can go without a brand. Customers often build up a relationship with a brand that they trust and will often go back to time and time again. For example,  some people may only purchase a Sony TV although there are acceptable alternatives on the market,  because of a past positive history with this brand.

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