Question

What is the purpose of a brand name?

Answer 1

A brand name is a word,design,symbol or a combination ,thereof used to identify a product and distinguish it from those of competitors.The purposes of a brand name are as follows:

(i) To create a distinct image of the product and its seller in the market. e.g. Bata shoes.

(ii) To build reputation and goodwill of the manufacturer.

(iii) To secure repeated sales through brand loyalty.