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The process involved in product naming can take months or years to complete. Some key steps include specifying the objectives of the branding, developing the product name itself, evaluating names through target market testing and focus groups, choosing a final product name, and finally identifying it as a trademark for protection. [1]
Brand dominance occurs when, during brand recall tests, most consumers can name only one brand from a given category. [28] Brand dominance is defined as an individual's selection of only certain brand names in a related category during a brand recall procedure. [28]
A brand name may include words, phrases, signs, symbols, designs, or any combination of these elements. For consumers, a brand name is a "memory heuristic": a convenient way to remember preferred product choices. A brand name is not to be confused with a trademark which refers to the brand name or part of a brand that is legally protected. [68]
“Brand-name products are most popular in the beverage aisle, with around 68% choosing brand names over store brand alternatives — even at a higher price point,” note Balagtas and Bryant.
Name Brands That Last. A wise person once said, "If it ain't broke, don't fix it." They were certainly onto something with that wisdom-soaked sentiment, and it's never rung more true.
Firstly an accounting definition suggests that brand equity is a measure of the financial value of a brand and attempts to measure the net additional inflows as a result of the brand or the value of the intangible asset of the brand. [48] A different definition comes from marketing where brand equity is treated as a measure of the strength of ...
Individual branding, also called individual product branding, flanker brands or multibranding, is "a branding strategy in which products are given brand names that are newly created and generally not connected to names of existing brands offered by the company."
Two brands of aspirin.Left: a national brand made by Bayer.Right: a private-label brand. Note the price difference and similar boxes. A private label, also called a private brand or private-label brand, is a brand owned by a company, offered by that company alongside and competing with brands from other businesses.