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A brand is more than just a logo or a name; it is the way people perceive your business. It is the feeling or idea that comes to mind when customers think about your product or service.
A brand name may include words, phrases, signs, symbols, designs, or any combination of these elements. For consumers, a brand name is a "memory heuristic": a convenient way to remember preferred product choices. A brand name is not to be confused with a trademark which refers to the brand name or part of a brand that is legally protected. [68]
Umbrella branding (also known as family branding) is a marketing practice involving the use of a single brand name for the sale of two or more related products. [ 1 ] [ 2 ] Umbrella branding is mainly used by companies with a positive brand equity (value of a brand in a certain marketplace). [ 3 ]
If you want to start a business but are unsure what type of business is best, check out this list of 20 good small business ideas to help you decide. 1. Virtual assistant
The process involved in product naming can take months or years to complete. Some key steps include specifying the objectives of the branding, developing the product name itself, evaluating names through target market testing and focus groups, choosing a final product name, and finally identifying it as a trademark for protection. [1]
This article originally appeared on GOBankingRates.com: Kidtrepreneurs: 5 Kids Who Started Small Businesses. Show comments. Advertisement. Advertisement. In Other News. Entertainment.
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