Branding In The Future

TERM PAPER

What are the emerging trends being practiced by some far-sighted and well-advised companies globally that will define branding in the future?

This paper discusses the various factors in the branding process and what strategies can define well established brands. It also discusses the past, present and the future of branding.

Branding is an intangible concept which has evolved over time: from the days when sheep of one herd started to be branded to distinguish them from another herd, to the current era when everything, from water and flowers to clothes and food, is branded (Lindberg-Repo 2011). Brands have become ubiquitous in global popular culture. Branding has emerged as a top management priority in the last decade due to

A brand is supported by key marketing principles and brand positioning. A brand's positioning is a key concept in its management. It is based on the fundamental principle of comparative choices. A strong brand position means the brand has a unique, credible, sustainable, and valued place in the customer's mind. It revolves around a benefit that helps a product or service stand apart from the competition. Positioning of a brand is a competitive strategy, customers make a choice, after comparing. The aim of the positioning is to identify and take possession of a strong purchasing rationale that gives us a real or perceived advantage. It may change through time as one grows by expanding the

play a play a major role in establishment of the brand. The customers remember the brand the way it is rendered to them. Naming a brand should be pure encapsulation of the brand idea and its ability to stand out in the market to build powerful positive associations. It requires enormous amount of creativity with considerable amount of practicality, as most of the names created will not be legally available. Some brands also create their own naming device, for example : Apple’s products are named as iMac, iPhone, iTunes etc. It’s also advisable to make sure that the name is legally protected and has no negative connotations in any other languages. A logo is the only strong visual symbol of the brand for the customers which allows them to relate to the brand. Logos can be either symbols, word marks or a combination of the two. Creating stories with the brand symbol is not only a visual analogy for the brand but is also a word of mouth communication strategy. Therefore it is important to have a strong visual identity to convey everything about the product, service, or company and the visual identity should have the ability to communicate at least one or two important concepts of the