Reverse Mortgage – Attractive Brands
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Attractive Brands
A brand name is the name of the distinctive product or service (Hoek & Gendall, 2010). The brand name helps the customer to differentiate many products and services in the market (Hoek & Gendall, 2010; Lencastre & C么rte-Real, 2010; Zaichkowsky, 2010). The attractive brand will get more attention from the customers (Hoek & Gendall, 2010; Lencastre & C么rte-Real, 2010; Zaichkowsky, 2010). Therefore, creating an attractive brand is important for a company (Zaichkowsky, 2010). Three features of an attractive brand are unique brand name, two dominant colors, and unique packaging.
Unique brand name is the first feature of an attractive brand. To create a brand name is necessary to comply with the law (Hoek & Gendall, 2010; Lencastre & C么rte-Real, 2010; Zaichkowsky, 2010). According to Hoek and Gendall (2010), the company usually protects its brand from use by others by registering the brand with a government agency. The authors suggest that before applying for a brand, the company needs to ensure that someone else has not already obtained that brand name. Furthermore, Zaichkowsky (2010) claims that although the company can create its brand name, it commonly hires a consulting firm that specialize in creating brand name and processing the brand registration. The author also said that because of a complicated process of creating brand name, some consulting companies charge hundreds of thousands of dollars for the service of creating the brand name. Moreover, the author describes that the process to create brand name begins with creating the name from the combination of four and five letters by the computer. Next, most of the brand names will be eliminated until a few names are leftover (Zaichkowsky, 2010). Finally, the names will be tested with spoken languages in the world to assure that the name has no negative meaning in any languages (Zaichkowsky, 2010). Moreover, the name should be easy to pronounce and remember (Zaichkowsky, 2010). More importantly, the name should be newly established and has never been used by the others (Hoek & Gendall, 2010; Lencastre & C么rte-Real, 2010; Zaichkowsky, 2010).
Furthermore, combination of two dominant colors is another feature of an attractive brand. One of the key elements of attractive brand is color selection (Hoek & Gendall, 2010; Zaichkowsky, 2010). According to Hoek and Gendall (2010), each color has different feeling and various associations. The authors said that by choosing a color or a combination of colors for the brand, the company will take on those associations. The authors add that because colors will evoke customers feeling and emotion towards brands, it is crucial to choose a color that will represent the brand effectively. The brand color has an influence on the customers recognition of the brand (Hoek & Gendall, 2010; Zaichkowsky, 2010). The customers connect the brand with the distinctive colors on the brand name, logo, or package (Hoek & Gendall, 2010; Zaichkowsky, 2010). Zaichkowsky