Concept of Brand and its importance in Marketing Management.

 Brand is an important concept of Marketing because it gives a separate identification of organization in the market so consumers eager to purchase product or service that is produced by such type of organization so every organization wants to become brand in the market.

Definition of Brand-

Brand is a name that is obtained by organization according to their feature,function perform in the market.

The process in which we produce our product in the market with separate name,logo,symbol or combination of all these things and consumers identify us this process is called brand.

Nature of Brand-

1.It is intangible.

2,It has some special value.

3.It has a separate image.

4.It possess a special logo.

5.It has a special symbol.

6.It has a unique name.

7.It has a trade mark.

8.It may a separate design.

9.It is external.

10.It belongs modern marketing.

Importance-

1.It helps to increase the sale volume of organization.

2.It increases the profit of organization.

3.It increases the reputation of organization in the market.

4.It helps to crush competition.

5.It supports in recession or crisis.

6.It builds the loyalty of customers towards organization.

7.It helps to generate new customers.

8.It inspires human resource force in working hour.

9.It increases the financial value in the share market,banking and insurance sector.

10.It also helps in advertising.

11.It provides trust of distribution channel.

12.It improves the recognition process of customers.