Brand Management Week 3

Brand Elements

• Logo, name, slogan, packaging, and characters are examples of brand elements
• The main purpose of brand elements is to create brand identity and differentiate the brand from competitors

Counterfeiting

• The estimated market size for counterfeits is approximately 3.2% of global trade according to the International Chamber of Commerce
• Counterfeit goods can be products such as clothing, accessories, and electronics
• Counterfeiting can have a negative impact on original brands, including financial losses and erosion of brand reputation
• However, counterfeiting can also have a positive effect on original brands, as it can be an indicator of a brand's popularity and success

Intellectual Property Protection

• Copyrights are typically given to novels, music, movies, software code, photographs, and paintings
• Fashion designs are typically protected by trade dress, a type of trademark protection
• Patents are granted for inventions and can be controversial, as they can stifle innovation and limit access to proprietary technology

Brand Knowledge and Equity

• Brand knowledge refers to the thoughts, feelings, and experiences that consumers associate with a brand
• Brand equity refers to the value that a brand generates for its customers and the company
• The components of brand knowledge include brand awareness and brand image

Test your knowledge on the importance of characters in branding with this quiz! Discover why characters are so memorable and easily liked, and learn about their meaning and transferability. Find out if they are adaptable across cultures and categories.