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Difference between Brands, Private Labels and Licensed produ
Transcript of Difference between Brands, Private Labels and Licensed produ
Defined as an arrangement between two parties, where one party has proprietary rights over some information, process, or technology protected by a patent, trademark, or copyright.
A name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers.
Designating a product manufactured or packaged for sale under the name of the retailer rather than that of the manufacturer.
Walmart: Great Value
Brands are often expressed in the form of logos , graphic representations of the brand
A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another.
Brands can be recognized easily by their brand identity.
Target: Up & Up
Private label products also known as store brands or retailer brands.
They are often designed to compete against branded products, offering customers a cheaper alternative to national brands.
Licensing is used by brand owners to extend a trademark or character onto products of a completely different nature.
The performance of private label products is now more a function of price and consumer confidence
Licensing has significant value as a marketing strategy to grow their business in new markets when they lack resources or experience in those markets