Marketing analysis is all about discovering a market, assessing it and creating a product to fulfill the requirement of the market as well as to make profit. However, a product is only a physical entity or service.
At the same time, a brand is a product that is reliable, and has emotional and functional benefits affixed to it. Products are exchangeable when a brand generates value.
Following are the attributes of a brand:
Products which are continuously varying their strategies as well as market positions will never ever grasp a reliable position in the consumer's mind. To win a customer's mind, turn a product into a brand. When you think of shoes, you now think of Nike, as Nike is a booming brand.
Your brand should have consistent appearance. People think visually when they think about a brand. Everyone knows that the logo of Adidas is very stylish.
Excellent brands need to place themselves differently against their competitors. Volvo cars are known for their safety. At the same time, Corvettes are famous for their sporty look and speed. Saturn's brand is known for good value and customer service.
Connection with targeted consumer:
A good brand constructs an emotional connection with the consumers who use their product. The consumer should think that this is the only product available in the market and there are no substitutes.