ENTREPRENEURSHIP

Quarter III – Week 7

Develop a Brand Name
I have learned how to establish a brand name and how to come up with one from this
material. If I ever decide to start a business, I will be able to apply all I have learned in this
course. Despite the fact that I am a HUMMS student, this topic fascinates me, prompting me to
search the internet for similar things that will help me comprehend how to establish a brand
name and its relevance to a business. A brand has become something that means a lot to thinking
people in these days of modern existence, and it has now become something that is here to stay.
It is a status symbol for the modern aristocracy.
In today's parlance, the brand of an item utilized has become more essential than the
item's quality. This is because it is widely assumed that the brand must be of high quality. The
prestige and modernity of an individual are reflected in the brand of anything utilized. Whether
the reasoning is true or not is an another thing, but it has come a long way and is certain to
continue. The elite are also giving their elegance to the brand with this approach. The elite are
also giving their elegance to the brand with this approach. As a result of this tendency, the brand
has a clear monopoly in the market. When a monopoly exists, competition enters the arena, and
when competition begins, the 'Duplicates' business begins. This firm thrives because of the brand
name; which people buy without hesitation. Due to the so-called borrowed brand name, this
item, the duplicate, sells as well as the original. It's such a shame that things without a well-
known brand name have no place in the elite's buying programs. Another type of corruption
emerges as a result of this. In this case, brand-name labels are printed or produced in some other
way and adhered on things made by lesser-known manufacturers. This is something the company
performs to aid in its expansion.
Furthermore, this simply serves to demonstrate the elite's near-madness in marketing
brand names. It is only to profit from this brand craze that a variety of lower-quality
commodities and even unknown brands are sold under well-known brand names. It is true that
things from well-known brands are tested and found to be outstanding, but this does not mean
that an item from a lesser-known name is necessarily inferior. However, no matter how hard we
try to persuade the upper crust, the craze for brand names has taken hold, and all firms are
thriving because of it. To counteract large business's high success stories, smaller enterprises rely
on replication - such is the craziness of brand names.