A Comprehensive Comparison between Service Brand and Product Brand
1. What is brand
1.1. Elements of Brand
1.2. Benefits of branding
1.3. Significance Of Adopting Proper Branding Strategy
2. Service brand:
2.1. Features Of Service Brand
2.2. Role Of Employers In Success Of Service Brand
2.3. Role Of Consumer In Success Of Service Brand
2.4. Challenges Service Branding Is Facing
3. Product Brand:
3.1. Features Of Product Branding
3.2. Role Of Manufacturers In Success Of Product Brand
3.3. Role Of Consumers In Success Of Product Brand
3.4. Challenges Product Branding Is Facing
4.1. Brand Positioning
4.2. Brand Equity
4.3. Brand Identity And ...view middle of the document...
The second section focuses on all those elements that contribute in the success of some product or service. The deep down comparison of both these types of brands is also presented side by side as well. However, different recommendations are also given to cope with the challenges aroused by the current competitive age for these two fields.
1. What is brand?
Before throwing light upon the product branding and service branding and making a comparison between both of them, it is essential to know what the brand actually is because the comprehensive definition of brand will aid to understand the entire concept.
Kotler et al (p.549,2005) gave a vivid description what the brand actually is. According to him, a brand is regarded as the combination of name, sign, symbol, or set of names that dissimilate some specific service or product from each other. Kapferer (2004) indicated that a brand is the source to drive consumer behavior and has capability to form decisions of consumers as well. A specific brand represents almost all the qualities and traits a specific product possesses. It has power of differentiating a product or service from each other and cause reliability from the part of consumer as well. In simple words, a brand is term, symbol, name, design, sign or a specific combination that is formulated to identify a specific service of good by the consumer due to its uniqueness.
1.1. Elements of Brand:
Either the brand is categorized as service brand or product brand, in each case; there are four elements that cause the fundamental recognition of the product. these four elements involve brand named that indicate a word that cause recognition of some product, trade name that indicate recognition through organization’s name, brand mark that indicates the logo of some brand and trade mark that indicates the symbol of the brand. In each case, the brand causes financial and social benefits not only to organization but also to consumers as well. Brands not only guarantee the quality, but also the expression of emotions as well as sophistication at the same time. The example of famous brands is best in this regard. There are many famous brands that are even working today for satisfying the consumers with their services like Rolex that indicates sex and success and Kodak that guarantees great picture quality.
1.2. Benefits Of Branding:
As far as the benefits of branding are concerned, not only consumers and manufacturers get certain advantages from the familiarity of the brand, but the retailers also get benefits as well. As far as the consumer benefit is concerned, the customer easily identifies the brand quality through its name or logo, evaluate the product features, rely on the brand quality that cause less risk and so on. As far as the manufacturer is concerned, branding builds loyalty towards customers, formulates a strong position in the market among competitors, differentiates the products that cause unique...