The evolution of brands and their importance in globalized markets

Abstract

Brands are a selection factor for consumers, as well as distinctive signs that represent quality, price, origin, reliability and prestige, which influence purchasing behavior, attract and satisfy the public in a predictable and consistent way. Additionally, brands communicate between those who produce a good or service and those who consume it, which creates a bond of trust with consumers, both for large companies and for SMEs. A brand also becomes essential for the long-term survival of the business. In a changing world, where access to technology and information is increasing, the construction of a brand cannot be based on the product or service as such, but on the meaning that it acquires for customers, not being aware That's what it's like to risk anonymity. Initially, the marks allowed to identify the property of a person, in addition to preventing the theft of their goods. Marking goods with a graphic sign to certify their origin and quality, spread as a common practice in ancient times as trade developed and products diversified, over time it evolved giving rise to the creation of laws and agreements formalizing its use.