Product identification is the process of branding products. The branding is an important aspect of product planning. It involves the assignment of a brand name to the product being offered to the customers. The word "brand" is a comprehensive term. According to the American Marketing Association, a brand is a name, term, symbol or design – or a combination of them – which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
A brand identifies the product for a buyer and gives the seller a chance to earn goodwill and reiterated patronage. Branding is the practice of giving a specified name to a product or group of products from one seller. The specified name creates individuality in the product. Here, the product can be easily recognized or recognized in the market from rival products. The sole purpose of branding is to distinguish your branded product from those of competitors. A well-promoted brand name which has earned a reputation in the market is very difficult to compete with.
"Trademark" is a legal term. It is a brand duly registered under the Trade Names and Trade Marks Acts. It is a brand enjoyed only by the seller. Others can not use it and legal action can be taken if they adopt it. The letter "R" in a circle on each package indicates that the brand is duly registered. The term "brand" is broadly applicable to all identifying marks, such as trade names, trade marks, trade symbols, pictures, package designs, distinctive coloring or lettering, slogans, and more. The holder of a registered brand personally stands behind the branded products and personally guarantees the quality and standard of the product as per advertisements issued by holder or his company.