A brand is an identifying symbol, mark, logo, name, word, and/or sentence that companies use to distinguish a company’s product from another company’s product. Brands are used in business, marketing, and advertising for acknowledgement and, importantly, to make and store value as brand equity for the object identified, to the profit of the brand’s customers, its owners and stockholders. Name brands are sometimes eminent from generic or store brands.
Although brand identity is a important asset to a brand’s equity, the value of a brand’s identity would become archaic without ongoing brand statement. Integrated marketing communications (IMC) narrates to how a brand conveys a clear consistent memorandum to its shareholders. Five key components comprise IMC:
- sales promotions
- direct marketing
- personal selling
- public relations