The Economic Significance of Brands as Marketing Resources
The contribution of trademark and the brand they signify to the economic growth can also be analysed in terms of a brand as a marketing resource. When used as a marketing tool, a brand bears some significance and is viewed in different angles by the marketers, who are also the owners. A brand is a trademark, symbol, design, a term, a name or a combination of all whose main intention is to identify the goods or service of a particular seller or a group of sellers and distinguish them from other goods. It attracts value termed as brand equity. Brand equity refers to indirect and the direct worth accumulated to the profit connected with the brand. The value of the brand is appreciated when the consumer gains the knowledge of the same through marketing efforts. Brand knowledge refers to feelings, descriptions, familiarity, discernment’s, and beliefs that are linked to the Continue reading