BRANDS: DEFINITION AND IMPORTANCE

VIETNAM UNIVERSITY OF COMMERCE
FINANCE AND BANKING

GROUP DISCUSSION
ENGLISH 4

TOPIC:
BRANDS: DEFINITION AND IMPORTANCE

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Group: 4 Class: 1575ENTI2411
Teacher:
Presentation assessment: List of student ( in the order of presenting)
No. Name (for student)
1
2
3
4
5

Comments (for teacher
only)

Đỗ Hải Hưng
Hoàng Phi Khanh
Lê Ngọc Kỳ
Tống Thu Hương
Lê Trần Huy

PRESENTATION
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Mark


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Greeting
Good morning everyone, welcome to our presentation of group 4. Today
our group is here talk about BRANDS: DEFINITION AND

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IMPORTANCE.
Introducing the group’s members: There are 5 members in our group
Introducing the group’s topic: The topic includes 3 parts. The first is
definition in many aspect, the main part mentions importance of brands
with both of business and customers. The final part deals with example

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of top 10 famous brands – most valuable brands in the world.
Introduction about the meaning of brands:
What is a brands?
According to Phillip Kotler’s opinion – father of modern marketing,
brands is defined as a "name, term, sign, symbol, design or a
combination of them, intended to identify the goods and services person
seller or group of sellers and to differentiate them from those of the

competitor. In other side Association of Marketing USA to claim: A
brand is name, term, design, symbol, or any other feature that identifies
one seller’s good or service as distinct from those of other sellers. The
legal term for brand is trademark. A brand may identify one item, a
family of items, or all items of that seller. If used for the firm as a whole,
the preferred term is trade name. In my opinion, I think a brand name
helps an organisation differentiate itself from its competitors and brands
equal product plus trademark. If product is limited, brands is unlimited.
The brand’s meaning of Marketer may be different but clearly shows the
importance of brands ( which represent the design of brand identity ) as
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a competitive amost effectively , maintaining the power of the surviving
company and create the basis for long-term development of the company
.

THE IMPORTANCE
They usually associate the term ‘brand’ with a product that has a unique,
consistent and well-recognised character. These brands conjure up
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images in the minds of consumers. Large organisations work hard to
raise the power and status of their brands and guard them carefully
against unlicensed use or unfair imitation. Developing a corporate brand
is important because a positive brand image will give consumers, and
other interested stakeholders, confidence about the full range of products
and activities associated with a particular company.
1. Business

1.1. Branding promotes and improves recognition
If your branding is consistent and easy to recognize, it can help people
feel more at ease purchasing your products or services.
1.2. Your brand helps set you apart from the competition
In today’s global market, it is critical to stand apart from the crowd. You
are no longer competing on a local stage, your organization now
competes in the global economy. How do you stand out from the
thousands or millions of similar organizations around the world?
1.3. Your brand tells people about your business
Your full brand experience, from the visual elements like the logo to the
way that your phones are answered, tell your customer about the kind of
company that you are. Are all of these points of entry telling the right
story?
1.4. Your brand provides motivation and direction for your staff

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A clear brand strategy provides the clarity that your staff needs to be
successful. It tells them how to act, how to win, and how to meet the
organization's goals.
1.5. A strong brand generates referrals
People love to tell others about the brands they like. A strong brand is
critical to generating referrals or viral traffic. People wear brands, eat
brands, listen to brands, and they’re constantly telling others about the
brands they love. On the flip side, you can’t tell someone about a brand
you can’t remember.
1.6. A strong brands helps customers know what to expect
A brand that is consistent and clear puts the customer at ease, because
they know exactly what to expect each and every time they experience

the brand.
1.7. Your brand represents you and your promise to your customer
It is important to remember that your brand represents you…you are the
brand, your staff is the brand, your marketing materials are the brand.
What do they say about you, and what do they say about what you’re
going to deliver (promise) to the customer?
1.8. Your brand helps you create clarity and stay focused
It’s very easy to wander around from idea to idea with nothing to guide
you…it doesn't take long to be a long way from your original goals or
plans. A clear brand strategy helps you stay focused on your mission and
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vision as an organization. Your brand can help you be strategic and will
guide your marketing efforts saving time and money.
1.9. Your brand helps you connect with your customers emotionally
A good brand connects with people at an emotional level, they feel good
when they buy the brand. Purchasing is an emotional experience and
having a strong brand helps people feel good at an emotional level when
they engage with the company.
1.10. A strong brand provides your business value
A strong brand will provide value to your organization well beyond your
physical assets. Think about the brands that you purchase from (CocaCola, Wrangler, Apple, Ford, Chick-Fil-A, QuikTrip)… are these
companies really worth their equipment, their products, their
warehouses, or factories? No, these companies are worth much more
than their physical assets…their brand has created a value that far
exceeds their physical value.
1.11. Branding Creates Trust
A professional appearance builds credibility and trust. People are more
likely to purchase from a business that appears polished and legitimate.

Emotional reactions are hardwired into our brains, and those reactions
are very real influencers.
1.12. Branding Supports Advertising
Advertising is another component of your brand. Both the medium
chosen and demographic targeted for advertisements builds a brand. Too
narrow an advertising focus, and a company risks being “pigeon holed”
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and losing their ability to expand into new markets. Too broad a focus,
and the company fails to create a definable impression of the company
in the minds of would be customers.
1.13. Branding Builds Financial Value
Companies who publicly trade on a stock exchange are valued at many
times the actual hard assets of the company. Much of this value is due to
the branding of the company. A strong brand usually guarantees future
business. Whether a company is in the position to borrow funds for
expansion or rolling out to an IPO, being perceived as more valuable
will make the process advantageous for the owner of the company. The
greater a company’s devotion to build its brand value, the better the
financial return from its efforts.
1.14. Branding Inspires Employees
Many employees need more than just work— they need something to
work toward. When employees understand your mission and reason for
being, they are more likely to feel that same pride and work in the same
direction to achieve the goals you have set. Having a strong brand is like
turning the company logo into a flag the rest of the company can rally
around.
1.15. Branding Generates New Customers
Branding enables your company to get referral business. Would it be

possible for you to tell a friend about the new shoes you love if you
couldn’t remember the brand? A large reason ‘brand’ is the word used
for this concept is that the goal is an indelible impression. As the most
profitable advertising source, word of mouth referrals are only possible
in a situation where your company has delivered a memorable
experience with your customer.
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2. Customers
In simple words a brand helps them in identifying the seller or the
maker.
A brand is primarily important to the consumer as it conveys up to six
levels of meaning, namely it brings to mind certain 'attributes' of the
product, these attributes must be translated into 'benefits'. The brand
signifies the 'value' of the product, it may represent a culture of the
organization, it projects a certain personality of the organization and
most importantly a brand suggests the kind of consumer who buys or
uses the product. Brands provide consumers with important functions.
They identify the source of the product and allow consumers to look at
specific manufacturers more responsibly. Most importantly brands take
special meaning to consumers. From an economic perspective brands
help consumers in lowering their search costs for products. "Consumers
offer their trust and loyalty with the implicit understanding that the
brand will behave in certain ways and provide them utility through
consistent product performance and appropriate pricing, promotion and
distribution programs and actions" . Brands provide a number of
functions to firms. Fundamentally they serve the purpose of
identification. They help in organizing a firm's inventory and also help
with the company accounts.

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To sum it all up to an organization brands represent valuable legal
property which can influence consumer behavior and buying patterns.

CONCLUSION
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Reviewing all main points
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We have just talked about the definition and the importance of
brands
2. Ending the presentation
We have finished our presentation. Do you have any questions for
my group?
All comments are welcome.

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