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Imagine a hypothetical idea – what would happen if all the people in the world had the same appearance. How would we recognize each other? But we know that’s not the case. Each of us has our own unique and unrepeatable identity that differentiates us from other people. It is the same with the products on the market.
We are looking for a specific product that brings with it a certain quality and characteristics that interest us and, most importantly, satisfies our specific need.
The huge growth of wealth and cultural influence of transnational companies, in the last forty years, began with the development of the idea of management theorists that companies should primarily produce brands, not goods.
A brand is a name, expression, sign, symbol or design, or a combination thereof whose purpose is to identify the goods or services of one or a group of producers and to differentiate them from the goods or services of competitors.
One of the key aspects of business success today is contained in creating and maintaining brand strength. A brand or trademark is a mixture of tangible and intangible features that symbolize a trademark, which, if used properly, creates value and impact.
In the 1980s, the world was gripped by a mania for branding and recognizing the value of commercial product names. A brand begins to be valued as capital. The seemingly innocuous idea developed by management theorists in the mid-1980s, that successful companies must primarily produce brands, not produce, grew into an obsession with branding and advertising.