Brands have four major functions and meanings for enterprises:

1. It is the function of safeguarding rights. By registering patents and trademarks, brands can be protected by law to prevent others from damaging the reputation of brands or illegally stealing brands.

2. A brand with value-added function is an intangible asset of an enterprise, and its characteristics such as value, personality and quality can bring important value to products. Even if the same product is labeled with different brand logos, it will produce a disparity in price.

3. It is the image-building function brand that is the cornerstone for enterprises to build their image, popularity and reputation. Today, with the homogenization of products, it gives enterprises and products many special meanings such as individuality and culture.

4. It is the function of reducing costs. On average, the cost of winning a new customer is six times that of keeping an existing customer, while brands can effectively reduce the cost of publicity and new product development by establishing brand preferences with customers.

Extended information:

A brand generally includes two parts: a brand name and a brand logo.

1. General definition: A brand is a name, noun, symbol or design, or a combination of them. Its purpose is to identify the products or services of a seller or a group of sellers and distinguish them from those of competitors.

2. As the definition of brand strategy development: brand is a kind of image cognition, feeling and quality cognition formed by the above elements and the results of a series of market activities;

3, and the customer loyalty shown through these, generally speaking, it belongs to an intangible asset, so the brand appears as an intangible asset at this time.

4. Brand building is a systematic project, which requires passion, wisdom and faith. Brand strength depends on brand leadership, in which Position is the direction and Balance is the general plan; Balance contains positioning, and positioning makes balance powerful. This is the essence of IBF brand "balance force" theory.

5. A brand is a business name and its logo used to identify a seller or a group of sellers' products or services and distinguish them from competitors' products or services. It is usually composed of words, marks, symbols, patterns, colors and other elements or a combination of these elements.

Baidu encyclopedia: brand