If a person would steal the animals, anyone could detect the symbol and deduce the actual owner. Over time, the practice of branding objects extended to a broader range of packaging and goods offered for sale including the brand gap pdf download, wine, cosmetics and fish sauce. As markets become increasingly dynamic and fluctuating, brand equity is a marketing technique to increase customer satisfaction and customer loyalty, with side effects like reduced price sensitivity. A brand is in essence a promise to its customers of they can expect from their products, as well as emotional benefits.
When a customer is familiar with a brand, or favours it incomparably to its competitors, this is when a corporation has reached a high level of brand equity. Although only acquired brands appear on a company’s balance sheet, the notion of putting a value on a brand forces marketing leaders to be focused on long term stewardship of the brand and managing for value. It is a reference to the practice of using branding irons to burn a mark into the hides of livestock, and may also refer to the practice of craftsmen engraving brand names into products, tools or personal belongings. In pre-literate society, the distinctive shape of amphorae was used to provide consumers with information about goods and quality. Branding and labelling have a very ancient history. Branding probably began with the practice of branding livestock in order to deter theft.