If a person would steal the animals, anyone could detect the symbol and deduce the actual owner. Over time, the practice of branding objects extended to a broader range of packaging and goods offered for sale including oil, wine, cosmetics and fish sauce. As markets become increasingly dynamic and fluctuating, brand equity is a marketing technique to increase customer satisfaction and customer loyalty, with side effects like reduced price sensitivity. A brand is in essence a promise to its customers of they can expect from their products, as brand book sample pdf as emotional benefits.
When a customer is familiar with a brand, or favours it incomparably to its competitors, this is when a corporation has reached a high level of brand equity. Although only acquired brands appear on a company’s balance sheet, the notion of putting a value on a brand forces marketing leaders to be focused on long term stewardship of the brand and managing for value. It is a reference to the practice of using branding irons to burn a mark into the hides of livestock, and may also refer to the practice of craftsmen engraving brand names into products, tools or personal belongings. In pre-literate society, the distinctive shape of amphorae was used to provide consumers with information about goods and quality. Branding and labelling have a very ancient history. Branding probably began with the practice of branding livestock in order to deter theft. Images of branding oxen and cattle have been found in ancient Egyptian tombs, dating to around 2,700 BCE.
Over time, branding was adapted to other types of goods. Identity marks, such as stamps on ceramics, were also used in ancient Egypt. She has shown that amphoras used in Mediterranean trade between 1500 and 500 BCE exhibited a wide variety of shapes and markings, which consumers used to glean information about the type of goods and the quality. Systematic use of stamped labels dates from around the fourth century BCE. In a largely pre-literate society, the shape of the amphora and its pictorial markings conveyed information about the contents, region of origin and even the identity of the producer which were understood to convey information about product quality. David Wengrow has argued that branding became necessary following the urban revolution in ancient Mesopotamia in the 4th century BCE, when large-scale economies started mass-producing commodities such as alcoholic drinks, cosmetics and textiles.