Brand and brand image - Free Marketing Essay - Essay UK.
If you need to choose a great brand name for your product, service or business, start by considering the importance of the name in your branding efforts. Your name is an extension of your brand, and it can reinforce the value you provide or distance you from it. When you’re developing a name for a business, a product or a service, you have a number of options: Use the founder or inventor’s.
Brand names like these have several advantages: Descriptive names are inexpensive. Descriptive names immediately convey something about the business. You don’t have to spend a lot of money on advertising to establish a brand identity that the public will come to know and recognize for the line of business you are in. With a name like Smith’s Towing, for instance, people will know exactly.
C onsumers pay a higher price for brand-name products than for products that do not carry an established brand name. Because this involves paying extra for what some consider an identical product that merely has been advertised and promoted, brand names may appear to be economically wasteful. This argument was behind the decision to eliminate all brand names on goods produced in the Soviet.
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