MANAGEMENT

Detailed explanation-1: -A brand is a product, service or concept that is publicly distinguished from other products, services or concepts so that it can be easily communicated and usually marketed. Branding is the process of creating and disseminating the brand name, its qualities and personality.

Detailed explanation-2: -In this case, a product name identifies a specific product or service and becomes a brand name when the company starts using it. For example, the Toyota company operates using Toyota as its company name, and its products are cars.

Detailed explanation-3: -Companies Make Products and Consumers Make Brands A product is made by a company and can be purchased by a consumer in exchange for money while brands are built through consumer perceptions, expectations, and experiences with all products or services under a brand umbrella. For example, Toyota’s product is cars.

Detailed explanation-4: -Umbrella branding (also known as family branding) is a marketing practice involving the use of a single brand name for the sale of two or more related products. Umbrella branding is mainly used by companies with a positive brand equity (value of a brand in a certain marketplace).

Detailed explanation-5: -countable noun. A brand-name product is one which is made by a well-known manufacturer and has the manufacturer’s label on it. [business] In buying footwear, 66% prefer brand-name products.