What Do Brand Names Mean?
Brand names refer to the specific names of various products and services. For example, while cola is a general type of drink, Coke is a unique brand of cola.
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Significance
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Consumers tend to identify more with certain brands as they are more familiar with them. This is mainly due to the advertising and promotions that are executed to build what is called brand awareness.
Types of Brands
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A brand name may pertain to a particular product or represent a certain company, according to Davedolak.com. For example, the company P&G sells laundry detergent brands such as Tide and Cheer. Hertz uses the name of their company as a brand name for renting cars.
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Other Types of Brands
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A brand name may also describe a particular purpose or aspect of a product. For example, Off is the brand name for a product designed to get rid of fleas. Surge is a drink that helps increase people's energy level.
Effects of Brand Names
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Brand names may have a positive or negative effect on a person. If someone has a bad experience with a certain brand (i.e., taste, customer service problems), they may not purchase that brand again. At the same time, those who buy nothing but a specific brand are called brand loyalists.
Size
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Some companies such as P&G have brands such as Tide and Charmin that are worth over $1 billion.
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References
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- Photo Credit Image by Flickr.com, courtesy of Mike Licht
