Assignment 2 Essay Example | Topics and Well Written Essays - 1500 words

Assignment 2 - Essay Example Some of the businesses still have the concepts and practices that date back a hundred years or more, when societies were far less dynamic than they are today. Like every aspect, markets and businesses should also accept the changing time. A brand name is a name given to the business which creates the image and reputation of the business in the market and for the customers. Branding is a major task in marketing, as in marketing a brand name is a major selling tool of the business and is one of the most important components of the total product personality. Brand is the personality that identifies the business. It can be a name, symbol, design or any feature of the business that portrays their good service and differentiates them from other businesses. The concept of branding has been coming form years and has long been one of the major weapons of the business (Franzen and  Moriarty, 2008, p. 360). Once the business starts to be recognized by the brand name or symbol, it can be eithe r modified or changed too. When it is about the changing marketing techniques and customers, businesses have been seen as changing their brands and taking them quite seriously than they ever were, traditionally the concept of brands was different than what it is today and thus the business behaviors towards the concept of brands have also changed. There are many ways in which the determined shift in the branding process has been observed and clued in the past few years. In the modern world, the brand name is how the customers look at the brand, their products and the business. The brands have started to play a unique mind game with the minds of the targeted customers. Unlike the previous era, the brands have now been given immense importance and most of the business products and success is decided by their brand name. Quality and price have become a secondary option for the customers, and brand name is the most important tool. Brand image is nothing but the business’ characte r that conveys emotional value and not just a mental image (Keller, 2008, p. 57). Previously, the brands were not taken to be this important for the businesses. They were considered as merely a positive point for the business through which they can reach to the customers and create a relation with them that lasts for long and serves them with the right product. The market and the customers too, accepted the brand name as an advantage for the business. In the market, the business with the brand name would be prioritized higher than other businesses. And the customers would check out the products of the branded business first. This trend was carried out until the perceptions of the customers started changing and immense transformations were seen in the marketing trends. In the post modern world, the perceptions of customers have changed greatly in many ways which is why the branding techniques have changed too. The customers have created the perception that the brand name of the compa ny delivers its quality of products, efficiency in producing, their pricing strategies and effective service. The customers perceive the brand image to be the tool that defines all the aspects of the business. Today, in the modern world, the brand image is all that the customers seek for. The business knows how they brand name and image play on the minds of the customers