Assignment on Difference between Brand and Product
Example of Product and Brand
=> Service
Example: Hotel
=> Convenience product
Example: Salt, Brand- ACI PURE
=> Shopping product
Example: Furniture
=> Specialty product
Example: High price photographic
=> Unsought product
Example: Life insurance
=> Privet Brand
Example: POND’S
=> National Brand
Example: Sony
=> Industrial Brand
Example: Cock brand = Soft drink is a product
Shampoo is a brand = Head & Shoulder is a product
Difference between Brand and Product
So let’s talk about what is the difference between a product and a brand. This is a quote from Steven King from the WPP Group, a big international advertising agency. A product is something that is made in a factory. A brand is something that is bought by a consumer. A product can be copied by a competitor. A brand is unique. A product can be quickly outdated. And successful brands are timeless. And keep that in mind. Because it is all about differentiating. Here is a great example. I mean Coca Cola is probably the premiere brand in the world. And the product on the left is probably a good product. It’s from Safeway. But it’s just a product. There is no brand there. Let’s talk more about what is a brand. A brand is what differentiates a product from other competitive products in the marketplace. And it’s grounded in positioning. Remember that word positioning because it’s what that brand is in the mind of the consumer. How they think of it. It’s the personality of that brand. And ultimately the consumer positions the brand. I mean we will try as brand managers to position it. But ultimately it is the perception of the people who buy it. And what makes a company strong is not the product or the service, it is the position that it owns in the mind. So why is that positioning important? To consumers, it gives them meaningful reason to choose your brand over the competition. It differentiates you in a very meaningful way. And often times it will allow you to charge a premium for your product. To marketers, it is really a blueprint for how you grow that business. Remember, you are in charge of the profit and loss statement. You are running that brand like your own small business. So it’s really the blueprint on how you go forward. How you do your strategies. It’s the road map. And all elements of the positioning statement should be integrated to fit together to capture the consumer insight.
