Rank Brand Value of Brand (US$m) 1 Coca Cola 71,861 2 IBM 69,905 3 Microsoft 59,987 4 Google 55,317 5 GE 42,808 6 McDonalds 35,593 7 Intel 35,217 8 Apple 33,492 9 Disney 29,018 10 Hewlett-Packard 28,479 Source Interbrand Branding is important for creating customer loyalty. Distinctive and attractive brands vital for companies to maintain profitability, market share or loyalty of their customers. Customer loyalty plus a prominent position in market are key ingredients for commercial success. As a result, brands greet us from morning tonight they are part of our daily routine. Branded products comfort and reassure us with their presence. Like good friends we instantly recognise them. They remind us of our childhood. A brand is the name, term, design, symbol or colour that identifies a seller’s good or service. Branding is used to establish market share by convincing buyers that branded product offers a level of satisfaction not provided by generic product. Creativity is key to developing strong, appealing brand image. Trademarks, trade secrets, copyright and patents protect brands The product’s name Product logo
91 • Slogan/strap line Design of the product and/or packaging Distinctive colours of the product or packaging Advertisement copy/script of commercial Look and feel of retail location or point of sale Distinctive sounds & smells associated with product Music that accompanies the ad campaign Related content created on a website. Brand positioning involves the creation of desirable, distinctive image fora brand that has strong appeal for customers in a target market segment. It includes bespoke marketing mix programmes needed for target markets, and the type of promotional mix used, packaging & design. Brand protection can apply to names, short verbal descriptions, visual symbols. A tangible product’s name and/or symbol is a trademark. This includes the words, designs, numerals, colours, smells, shape of goods or packaging. A business name is a word mark. You establish and protect rights to exclusive use of any unique trademark by registering and using it. Branding more common in food processing sector, because it is more concentrated than the fresh produce sector. Branded fresh fruits include bananas, pineapple and citrus owned by Chiquita, Dole and Sunquist. Vegetables such as tomatoes, mini vegetables. Successful branding emphasises qualitative attributes, particularly taste or nutritive characteristics.