products vs brands

Products Vs BrandsProf. Deepak Pore

Companies Make Products and Consumers Make Brands

Products Can Be Copied and Replaced but

Brands Are Unique and hard/impossible to copy

Products Can Become Obsolete but Brands Can Be Timeless

(Products can be replaced by other products because it becomes obsolete over time. In contrast to this, brands are forever.)

Products Are Instantly Meaningful but Brands Become Meaningful over Time.

Products perform a function. Brands offer an emotion/value.

(A product performs its general functions, but a brand offers value to the customers.)

A product is tangible or intangible in nature. However, a

brand is intangible it can only be experienced.

Product marketing differentiates your products from other products. Brand marketing differentiates your customers from other customers.

Consumers may need a product,

Consumers will want a brand.

Example Next Slide Please;)

Example I may need a cup of coffee,

but I personally want to get it at CCD.

Branding is a marketing term that refers to a company's efforts to build and maintain an image or brand identity.

Product marketing occurs when a company delivers marketing messages and campaigns to promote a particular product.

BASIS PRODUCT BRANDMeaning An item which is ready for sale

in the market.Something which distinguishes a product from other products in the market.

What is it? A product is What you need? A brand is What you want?

Uniqueness A product can be easily copied. A brand has a distinguished identity, that cannot be copied.

Created by Manufacturers CustomersCan it be replaced?

Yes No

What they do? It performs the functions. A brand offers value.

Appearance May be tangible or intangible in nature.

A brand is intangible.

Time Horizon Can be outdated after some time.

Brand remains forever.

References

https://aytm.com/blog/research-junction/brand-product-differenc/

http://www.entrepreneur.com/article/245569

http://smallbusiness.chron.com/branding-vs-product-marketing-22583.html

http://keydifferences.com/difference-between-product-and-brand.html

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