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Problem

Evaluate this statement: A brand is much more than a name, and branding is a strategy problem, not a naming problem.

Step-by-step solution

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Step 1/2

A brand is much more than a name which requires marketing strategies to create branding.

A marketing business firm is identified on the basis of the brand and also the products and services the company offers. Brand is a very important intangible asset to the company. Marketing department of a company puts a lot of efforts to create a brand image for its products. It is said that brand is much more than a name. Brand is an identification feature which the customers use before taking a buying decision. The customer’s emotional attachment and the loyalty towards a product can be created through a good brand image. It is highly influential unseen feature for a product and its company. Certain products are treasured by customers.

Step 2/2

A brand is a name, symbol or logo given by a company to identify its products and services among its competitors. To promote the company’s product, branding is essential. In this competitive world branding is a strategy, which requires lot of thinking, planning and coordination. The strategy needs to fit into the market and attract consumers towards the products. Branding is a continuous process, where changes have to be made wherever necessary to meet the customer’s requirements. The company needs to set a proper branding team to promote the company’s products.