Hey..first we'l start with brand. A brand is the identity of a specific product, service, or business.A brand can take many forms, including a name, sign, symbol,color combination or slogan.A brand is the personality of a product, service or company and how it relates to key constituencies: Customers, Staff, Partners, Investors etc.
Careful brand management seeks to make the product or services relevant to the target audience. Brands should be seen as more than the difference between the actual cost of a product and its selling price - they represent the sum of all valuable qualities of a product to the consumer.
Brand awareness refers to customers' ability to recall and recognize the brand under different conditions and link to the brand name, logo, jingles and so on to certain associations in memory. It helps the customers to understand to which product or service category the particular brand belongs to and what products and services are sold under the brand name. It also ensures that customers know which of their needs are satisfied by the brand through its products.For eg-today's general men consider wearing branded shirts of Raymonds,Vimal etc and ladies wearing sarees of Parag, Sonica and many more branded sarees and from branded showrooms.
One of the more Common Fan Fallacies that exists is that products that carry brand names are higher in quality, taste better, last longer, and so on than lesser known names or even generic products. Related to this is the idea that, the more expensive something is, the better it will be. Neither of these ideas is necessarily so... it is often proved that the only real difference between High Priced Brand X and Generic Product Y is the name on the label.
Sometimes it is true that the more expensive product might have been made with higher-quality materials, thus justifying the pricetag as opposed to the off-brand, but this isn't always the case, as many store-brand items have the exact same ingredient list. Indeed, this trope is all about how people prefer the name brands, when the difference just isn't there.Hence brand name is better for common people, starting from designer wears,branded shoes,showrooms,cold-drinks,jewellery,food products and the list goes on....
Therefore we people have become more brand-aware these days, trying to match with our modern society and going ahead with its style !!
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