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Brand refers to a name, symbol, logo, mark, or sentence that is used to identify and distinguish one product from others.
Product refers to anything with tangible and intangible attributes offered in the market for use, acquisition, and consumption to satisfy a need or a want.
Brand vs. Products - Differences
Meaning
Product is an item for sale like sports shoes whereas the brand is an entity not for sales like NIKE and PUMA.
What is it?
Product is anything that fulfills a need like a handbag whereas the brand is what a person wants like Louis Vuitton.
Uniqueness
Product is something that can be copied like a car whereas the brand is unique and cannot be duplicated like Tesla.
Created by
Product is created by an organization like a motorcycle whereas the brand is created by the customers like Harley Davidson.
What do they do?
The product performs general functions like a retailer whereas the brand offers value to the customers like Walmart.
Appearance
The product can be tangible or intangible whereas the brand is always intangible
Time Horizon
The product can be obsolete and can be replaced like a Coco-Cola bottle whereas the brand remains forever like Coco-Cola brand name.
Emotional appeal
Product is about sales figures whereas the brand is about the emotional appeal.
Attraction for consumers
The product can attract or fail to attract a customer whereas the brand acts as a magnet.
Trustworthiness and reliability
The product can be branded or anonymous whereas the brand name is associated with trust and reliability.
Factors that contribute towards building a Brand
- An authentic and unique idea like Red Bull
- The product must exhibit a distinct personality of its own like Louis Vuitton
- Dependability like FedEx
- A striking presence like tinder
- Customer engagement and consistency like Starbucks
- Competitive value like Nike
This video is on Brand vs Products and it has the following sub-topics.
Time Stamps
0:00 Introduction to Brand vs. Products
00:21 Brand vs. Products - Differences
00:24 Meaning
00:47 What is it?
00:56 Uniqueness
01:08 Created by
01:16 What do they do?
01:27 Appearance
01:35 Time Horizon
01:49 Emotional appeal
02:08 Attraction for consumers
02:26 Trustworthiness and reliability
02:43 Factors that contribute towards building a Brand