Brand name is a vehicle for marketing a range of products
A brand name is a common name or symbol used by a company or individual to market its products and services. It distinguishes a particular good or service from those of competitors. Typically, a brand name is a registered trademark. A strong brand name is used to market a number of different products and sub-brands.
One strategy for extending a brand name to several products is called product line extension. This strategy involves entering a new market segment under the current brand name and using the name to introduce a new product. This method allows the brand to grow into other product categories and increase its overall brand awareness. For example, the Campbell Soup Company uses a multi-product branding strategy to market its many varieties of canned soup. As a result, consumers will recognize the brand name across these different products.
It conveys heritage and culture
Brand names can convey a sense of heritage and culture to consumers. The key is to balance tradition with innovation, and to convey heritage in a way that is relevant to young global consumers. A great example of this is the way Louis Vuitton communicated its heritage. The brand’s “Voyagez” exhibition, which toured to Paris and New York, showcased iconic pieces dating back to 1854. It also included pieces that had a connection to China. Young global consumers also appreciate knowing a brand’s heritage, because it highlights its uniqueness.
It helps you make a brand identity that draws in customers
The brand identity is an essential part of building your business. It’s the visual expression of your company and the way people experience it. Having a strong brand identity is critical for success and competitiveness. The process of creating a brand identity includes the creation of a style guide that includes guidelines and examples of use cases. A style guide should be comprehensive and easy to follow, and it should contain practical detail so that a designer can recreate the brand identity successfully.