Brand Awareness Definition

BRAND:

Definition of brand:

According to American Marketing Association a brand is a name, term, design, symbol, or any other feature that identifies one sellers good or service as distinct from those of other sellers

According to consumers point of view brand plays a vital role and it is one of the integral part of the product which also adds value component to the product. Brand equity is value of a brand for both consumers and companies human attitude and perception regarding brand and product is unique from one another to find out various influence consumers brand many study have been conducted.

Elements of brand

Brand mainly consist of various aspects like,

v Name: a word or a name used to recognize the company concept or product v Logo:

Brand awareness is nothing but consumer’s skill or ability to recall or identify the brand within the group of product available which helps in making necessary buying decision.

Levels of brand awareness

1. Brand recognition; this is the first stage in brand awareness level here consumers can recognize the brand among other brand here set of branded product is given and trying to recall the product because brand recognition play important role while buying any product.

2. Brand recall: the role of brand recall is very much essential for daily buying items like tea, coffee, toiletries etc because consumer before buying product will make the decision .

3. Top of mind: it states that which product have high brand value people will tend to remember its name and will buy that product within given product class.

Achieving brand awareness

When product is new and unfamiliar various strategies to be used so that people will try to remember the

4. Well-balanced communication

It is very much important for the company to introduce their brand to the general public, so company should focus on communicating about the product to its target audience very effectively so well balanced communication is very much important company often should go for mass advertisement, sponsorship of nay event etc. should be made.

5. Being first

Before any other competitors enters in to market company should position its product in the minds of customers, so for that company need to update itself for the current trend and company should change product based on needs and preference of customers. 6. Long term perspective

Generating brand awareness creating loyal customer takes long time so there should be consist in the approach of the company slowly and steadily company should try to gain customer confidence by rendering proper service to the customers.

7. Internal