“The brand is a name, a term, a symbol, a design or a combination of these elements that identify the goods or services of a seller and differentiates them from those of competitors”.
The brand became a central component in the structure and in social relations starting from the Eighties when, especially in the USA and in New York in particular, the elite of yuppies began to flaunt lifestyle and wealth through dispassionate consumption that put in the foreground the designer brand.
Until recently, the attention of companies was focused almost exclusively on the product and the brand was “little more than a name”.
Never as in those years, however, did men define (almost obsessively) themselves through the branded items they wear or surround themselves with.
The new visibility that the brand has assumed since the 1980s is also favored by the privatization of public space, the media and public institutions that favor the omnipresence of brands throughout the urban landscape.
Today more than ever, individuals are aware of the intrinsic meaning that each brand embodies and a particular brand in place of another is often what defines “who we are” through the expression of a set of values and attributes encoded over time.
Each brand is the expression of a way of life, of a value: Nike, Just do it; Nokia, Connecting people; Saab, moove your life; etc…
The symbolic value of the brand assumes for the consumer the function of guide and orientation in the purchasing process; brands are important “cultural resources” to which people refer. The ability of a brand to generate economic value is defined as brand equity; it is an intangible asset of the company that is based on what consumers know and think about the brand.
The brand equity is composed of five elements: awareness, associations, image, perceived quality and loyalty.
Some of these elements are inherently linked to aspects of communication, in particular notoriety, brand associations and, in part, brand image.
Perceived quality, on the other hand, is the company’s ability to give its products adequate levels of quality that are perceived by consumers; finally, loyalty indicates the level of consumer satisfaction.
Since the brand plays a central role in people’s minds, it is essential for a company to strategically manage the brand , which has become one of the most important competitive assets.
Like? Differentiating products, providing them with the power of a brand (process branding) and informing and communicating to consumers the qualities that the brand embodies, motivating the reasons why the product requires a higher purchase price. Brand
management strategies are the foundation of contemporary brand management and involve the use of advertising and other media techniques aimed at consumers.