A successful brand require 6 essential component, including Brand Name; URLs; Logos and symbols; Characters; Slogans; and Jingles/Sounds. Out of the 6 component, I believe the Slogans is the most important component for a company to establish and market to the customers, because a good slogan can represent the culture of the company and is easy for the customers to memorize. For example, the sleeping country slogans “why buy a mattress anywhere else” has really sink into consumer’s mind and give them a significant comparative advantage over its competitors and I can not think of think of anywhere else to buy a mattress.

Once the brand name is established, the logos and symbols becomes more important, for example, anyone can recognize the logo of Coca-cola, but only the targeted consumers will be able to recognize the logo of Mountain Dew. This is because Mountain Dew is still not a well established brand as Coca-cola yet, therefore, the brand name of Mountain Dew and the logo and symbols of Mountain Dew does not have the same value as the logo and symbols of Coca-cola.

Without a doubt, the translation of brand-name into the world market is very important. The example of Coca-Cola first go into the Chinese market was called 蝌蚪啃蜡 (tadpole eating wax), the the market respond very slow to it because the literal meaning of the brand is not attractive. Coca-Cola then changed their name to 可口可乐(Happiness of the mouth) which attracted consumers to the product much easier.

Therefore, in order to have a successful brand, the company need not only have a good product, but also need to develop the brand name in order for the customers to remember your product. The most important component of branding is to create a easy to remember Slogan and a meaningful brand name. This will create a comparative advantage in the long run to out compete your competitors.