Not many know the difference between a Product and a Brand. Here are some:
- A product is offered for sale in the free market, a tangible entity
- A brand is intangible and distinguishes one product from another
- Some say that a product satisfies a need, while a brand satisfies a want…
- Products can be easily copied in no time, brands are protected entities both legally and in the consumers’ mind.
- Manufacturers creates products, while consumers create the brand in their mind, value it, and stay loyal to it.
- Products can be easily replaced, they can become obsolete and dated in a short time, brands could be eternal (if treated properly) brands are emotionally attached to consumers and are not easily replaced.
- Products offer and perform a variety of functions. While brands offer value.