The first important factor when creating a logo is the inpact it creates first off, and if the audience immediately recognise it. It must also be easily copiable, in the sense that it still looks good if its in a leaflet or enlarged on a billboard. Another characteristic of an effective logo is if it portrays the company/organisation in a positive way, for example the 'Save the children' looks positive because it has a character reaching up in a cheerful manner. Also good logo's do not change regularly if they are effective as they are, if they did, people wouldn't be as familiar with the organisation.
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