Branding Strategies:

A brand is a name, term, symbol, special design, or some combination of these elements, that is intended to identify the products, or services of one seller to a group of sellers.

Features of a Products Brand (requirements):

A products brand name should pose the following characteristics:

• it should suggest something about the product's characteristics
• it should be easy to pronounce, recognize, and remember 
• it should be distinctive
• it should be adaptive to new products
• it should be capable of being registered under the law
• it should be suitable for the international market also 

The importance of branding can be seen from three angles:

Importance of branding from the Customer's point of view:

1. Brand may mean 'better'
2. Brand permits freedom of choice
3. Brand assures regular satisfaction
4. Brand may satisfy status need
5. Brand provides adequate information 

Importance of branding from the Marketer's point of view:

1. Brand legally protects the interest of the company.
2. Brand helps in identifying market segments
3. Brand may build the corporate image
4. Brand may help mass production and lower the production cost.

Importance of branding from the Social point of view:

1. Brand as a guide to quality
2. Brand assures social interests through the protection of trademark

Types of Brand:

On the basis of ownership of the products:

1. Manufacturer Brand
2. Distributor Brand

On the basis of production:

1. Individual Brand
2. Family Brand

Brand Equity:

Brand equity is a set of brand assets and liabilities linked to a brand, its name, and symbol, and to or subtract from the value provided by a product or services to a firm and or to that firm's customers