Understanding The Power of Brand

The brand is often cited as one of the most important factors of successful businesses. But what exactly is a brand? Brand is defined as a name, symbol, association or other feature that distinguishes companies’ products and services.

Nowadays consumers have more access to information and more choices than ever before. Therefore businesses need an eye-catching, unusual and special brand that can capture customer’s awareness; moreover they need to create a positive emotional attachment to the brand. In fact, marketing studies indicate that people attribute a “personality” and build up emotional attachments to certain brands; in this way the trademark also act as a guarantee of quality into their consciousness. To some extent this is true, but without maintain the brand up-to-date and in line with customers’ needs and preferences, even the most famous and popular company can slowly lose its importance. To illustrate with a specific example Coca-Cola brand has been invented in 1885 and in more than a century the company has changed logo, graphics, slogan and advertising million of times and is still changing to matches customers’ expectation. This is the reviewing process: it consists in regular reviews of the brand that can cause the decision of re-branding the company. This essay will first of all talk about how can companies modify their brand. Then why and when should they do that and finally which are the risks of this process.

There are different ways in which companies can re-brand their self. As mentioned above, in the Coca-Cola example, businesses can decide to create a different logo, advertising, graphics and slogan; moreover their images can change simply modify company packaging, livery or uniforms, but also via new products or services. All of these modifications can help a company to be always up-to-date and maintain a number of affectionate consumers and a good reputation in a very competitive market.