I. Match the Russian and the English equivalents in the table below.

1.  to scratch the surface	a.  психологический триггер, механизм, запускающий поведенческие реакции
2.  concoction	b. основной принцип
3.  tremendous	c. образ
4.  mind share	d. воспринимать
5.  psychological trigger	e. уменьшение количества продаж
6.  tangible and intangible	f.  быть далеко от понимания, мыслить поверхностно
7.  imagery	g. в совокупности с
8.  to lose market share	h. громадный
9.  in conjunction with	i. вымысел, небылица
10.  to perceive	j.  количество людей, слышавших о продукте
11.  ultimate touchstone	k. материальный и нематериальный

II. Scan the text and say what its major subject is. Use the following clichés: (for more useful phrases use App2)

As far as I am concerned, ………….

You are free to disagree with me but.................

Frankly speaking I have no idea..........

What Is Brand: Definition, Importance, Elements& Examples

 

Generally, people consider a name, logo, colour, and even sound to be a brand. While they’re partially correct as these do form elements of a brand, they are just scratching the surface.

According to Philip Kotler, a brand is a name, term, sign symbol (or a combination of these) that identifies the maker or seller of the product. In simple terms, a brand is the sum of all the attributes inherent to the offering, used to develop the offering’s identity in the market.

However, Brands are interesting, powerful concoctions of the marketplace that create tremendous value for organizations and for individuals. As brands serve several functions, we can define the term “brand” in the following ways:

1. A brand is an identifier: a name, sign, symbol, design, term, or some combination of these things that identifies an offering and helps simplify the choice for the consumer.

2. A brand is a promise: the promise of what a company or offering will provide to the people who interact with it.

3. A brand is an asset: a reputation in the marketplace that can drive price premiums and customer preference for goods from a particular provider.

4. A brand is a set of perceptions: the sum total of everything individuals believe, think, see, know, feel, hear, and experience about a product, service, or organization.

5. A brand is “mind share”: the unique position a company or offering holds in the customer’s mind, based on their past experiences and what they expect in the future.

A brand consists of all the features that distinguish the goods and services of one seller from another: name, term, design, style, symbols, customer touch points, etc. Together, all elements of the brand work as a psychological trigger or stimulus that causes an association to all other thoughts one has had about this brand.

Brands are a combination of tangible and intangible elements, such as the following:

· Visual design elements (i.e., logo, color, typography, images, tagline, packaging, etc.)

· Distinctive product features (i.e. quality, design sensibility, personality, etc.)

· Intangible aspects of customers’ experience with a product or company (i.e. reputation, customer experience, etc.)

Brands help simplify consumers choice. Brands help create trust, so that a person knows what to expect from a branded company, product, or service. Effective branding enables a consumer to easily identify a desirable company or product because its features and benefits have been communicated effectively. Positive, well-established brand associations increase the likelihood that consumers will select, purchase, and consume the product. Dunkin’ Donuts, for example, has an established logo and imagery familiar to many U.S. consumers. The vivid colors and image of a DD cup are easily recognized and distinguished from competitors, and many associate this brand with tasty donuts, good coffee, and great prices.

For companies and other organizations that produce goods, branding helps create loyalty. It decreases the risk of losing market share to the competition by establishing a competitive advantage customers can count on. Strong brands often command premium pricing from consumers who are willing to pay more for a product they know, trust, and perceive as offering good value. Branding can be a great vehicle for effectively reaching target audiences and positioning a company relative to the competition. Working in conjunction with positioning, brand is the ultimate touchstone to guide choices around messaging, visual design, packaging, marketing, communications, and product strategy.

For example, Starbucks’ loyal fan base values and pays premium prices for its coffee. Starbucks’ choices about beverage products, neighborhood shops, the buying experience, and corporate social responsibility all help build the Starbucks brand and communicate its value to a global customer base.

Retailers such as Target, Safeway, and Wal-Mart create brands of their own to create a loyal base of customers. Branding enables these retailers to differentiate themselves from one another and build customer loyalty around the unique experiences they provide. Retailer brand building may focus around the in-store or online shopping environment, product selection, prices, convenience, personal service, customer promotions, product display, etc.

Retailers also benefit from carrying the branded products customers want. Brand-marketing support from retailers or manufacturers can help attract more customers. For example, a customer who truly values organic brands might decide to visit a Babies R Us to shop for organic household cleaners that are safe to use around babies. This customer might have learned that a company called BabyGanics, which brands itself as making “safe, effective, natural household solutions,” was only available at this particular retailer.

 

https://courses.lumenlearning.com/clinton-marketing/chapter/reading-elements-of-brand/

 

Comprehension

I. Read the text again. Give extensive answers to the questions. Use the following expressions to start your answer. (for more useful phrases use App2)

That goes without saying...............

To my mind....................

I have no doubts that.............

1. Some people consider a company logo or name to be a brand. To what extend are they right or wrong?

2. How does Philip Kotler define a brand?

3. What functions does a brand comprise?

4. What elements does a brand involve?

5. How does a brand work as a psychological trigger?

6. How do strong brands build their target audience?

7. How does branding help outperform competitors?