Unit IV Assignment

Question 1 According to the Textbook, The American Marketing Association defines a brand as “a name, term, sign, symbol, or design, or combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.” Brands identify the source or maker of a product and allow consumers either individuals or organizations to assign responsibility to for its performance to a particular manufacturer or distributor. Brand equity is the added value endowed on products and services. It may be reflected in the way consumers think, feel, and act with respect to the brand, as well as in the prices, market share, and profitability the brand commands. Your brand is represented by tangible elements that create a visual, auditory, and olfactory brand identity. For Example, your brand logo, color palette, marketing materials, letterhead, signage, messaging, and so on are all tangible representations of your brand that make up its sensory identity. If one element doesn’t fit into the brand identity, it can damage your entire brand. The key is consistency; our brand elements must consistently represent our brand promise as well as consumers perceptions and expectations for our brand. The brand promise, the brand perceptions, the brand expectations, the brand persona, and tangible assets such as Brand logo, messaging, and packaging are all brand elements which should be considered when differentiating our companies brand from competing brands. All of these elements must work together to consistently communicate our brand promise, shape brand perceptions, meet brand expectations, and define our brand persona. If one element is off, our entire brand can suffer. Bottom-line, a brand is clear, reliable, and believable to both the consumers and the employees. However, brands aren’t built