Brand management begins with having a thorough knowledge of the term brand.

It includes developing a promise, making that promise and maintaining it. It means defining the brand, positioning the brand, and delivering the brand. Brand management is nothing but an art of creating and sustaining the brand. Branding makes customers committed to your business. A strong brand differentiates your products from the competitors. It gives a quality image to your business. Brand management includes managing characteristics of brand. In case of product product itself, price, packaging, etc. While tangibles include the customers experience. connections !ith the product " service. the tangible and intangible brands, the tangibles include the in case of service brands, the he intangibles include emotional

Branding is assembling of various marketing mix medium into a !hole so as to give you an identity. It is nothing but capturing your customers mind !ith your brand name. It gives an image of an experienced, huge and reliable business. It is all about capturing the niche market for your product " service and about creating a confidence in the current and prospective customers minds that you are the unique solution to their problem. he aim of branding is to convey brand message vividly, create customer loyalty, persuade the buyer for the product, and establish an emotional connectivity !ith the customers. Branding forms customer perceptions about the product. It should raise customer expectations about the product. he primary aim of branding is to create differentiation. #trong brands reduce customers perceived monetary, social and safety risks in buying goods"services. he customers can better imagine the intangible goods !ith the help of brand name. #trong brand organi$ations have a high market share. he brand should be given good support so that it can sustain itself in long run. It is essential to manage all brands and build brand equity over a period of time. %ere comes importance and usefulness of brand management. Brand management helps in building a corporate image. A brand manager has to oversee overall brand performance. A successful brand can only be created if the brand management system is competent

&ollo!ing are the important concepts of brand management: Understanding Brand - What is a Brand ? Brands are different from products in a !ay that brands are '!hat the consumers buy(, !hile products are '!hat concern"companies make(. Brand is an accumulation of emotional and functional associations. Brand is a promise that the product !ill perform as per customers expectations. It shapes customers expectations about the product. Brands usually have a trademark !hich protects them from use by others. A brand gives particular information about the organi$ation, good or service, differentiating it from others in marketplace. Brand carries an assurance about the characteristics that make the product or service unique. A strong brand is a means of making people a!are of !hat the company represents and !hat are its offerings. To a consumer brand means and signifies:

#ource of product )elegating responsibility to the manufacturer of product *o!er risk *ess search cost +uality symbol )eal or pact !ith the product manufacturer #ymbolic device

Brands simplify consumers purchase decision. ,ver a period of time, consumers discover the brands !hich satisfy their need. If the consumers recogni$e a particular brand and have kno!ledge about it, they make quick purchase decision and save lot of time. Also, they save search costs for product. -onsumers remain committed and loyal to a brand as long as they believe and have an implicit understanding that the brand !ill continue meeting their expectations and perform in the desired manner consistently. As long as the consumers get benefits and satisfaction from consumption of the product, they !ill more likely continue to buy that brand. Brands also play a crucial role in signifying certain product features to consumers. To a seller brand means and signifies:

Basis of competitive advantage Way of besto!ing products !ith unique associations Way of identification to easy handling Way of legal protection of products unique traits"features #ign of quality to satisfied customer .eans of financial returns

A brand, in short, can be defined as a sellers promise to provide consistently a unique set of characteristics, advantages, and services to the buyers"consumers. It is a name, term, sign, symbol or a combination of all these planned to differentiate the goods"services of one seller or group of sellers from those of competitors. !ome e"amples of well known brands are #c $onald%s% #ercedes-Ben& !on' (oca (ola )ingfisher etc* A brand connects the four crucial elements of an enterprise/ customers, employees, management and shareholders. Brand is nothing but an assortment of memories in customers mind. Brand represents values, ideas and even personality. It is a set of functional, emotional and rational associations and benefits !hich have occupied target markets mind. Associations are nothing but the images and symbols associated !ith the brand or brand benefits, such as, he 0ike #!oosh, he 0okia sound, etc. Benefits are the basis for purchase decision.

Brand name is one of the brand elements !hich helps the customers to identify and differentiate one product from another. It should be chosen very carefully as it captures the key theme of a product in an efficient and economical manner. It can easily be noticed and its meaning can be stored and triggered in the memory instantly. -hoice of a brand name requires a lot of research. Brand names are not necessarily associated !ith the product. &or instance, brand names can be based on places 1Air India, British Air!ays2, animals or birds 1)ove soap, 3uma2, people 1*ouise 3hillips, Allen #olly2. In some instances, the company name is used for all products 14eneral 5lectric, *42. +eatures of a ,ood Brand -ame

A good brand name should have follo!ing characteristics6 7. It should be unique " distinctive 1for instance/ 8odak, .ustang2 9. It should be extendable. :. It should be easy to pronounce, identified and memori$ed. 1&or instance/ ide2 ;. It should give an idea about products qualities and benefits 1&or instance/ #!ift, +uickfix, *ipguard2. <. It should be easily convertible into foreign languages. =. It should be capable of legal protection and registration. >. It should suggest product"service category 1&or instance 0e!s!eek2. ?. It should indicate concrete qualities 1&or instance &irebird2. @. It should not portray bad"!rong meanings in other categories. 1&or instance 0,AA is a poor name for a car to be sold in #panish country, because in #panish it means 'doesnt go(2. .rocess of !electing a renowned and successful Brand -ame 7. )efine the obBectives of branding in terms of six criterions / descriptive, suggestive, compound, classical, arbitrary and fanciful. It Is essential to recogni$e the role of brand !ithin the corporate branding strategy and the relation of brand to other brand and products. It is also essential to understand the role of brand !ithin entire marketing program as !ell as a detailed description of niche market must be considered. 9. 4eneration of multiple names / Any potential source of names can be usedC organi$ation, management and employees, current or potential customers, agencies and professional consultants. :. #creening of names on the basis of branding obBectives and marketing considerations so as to have a more synchroni$ed list / he brand names must not have connotations, should be easily pronounceable, should meet the legal requirements etc. ;. 4athering more extensive details on each of the finali$ed names / here should be extensive international legal search done. hese searches are at times done on a sequential basis because of the expense involved. <. -onducting consumer research / -onsumer research is often conducted

so as to confirm management expectations as to the remembrance and meaningfulness of the brand names. he features of the product, its price and promotion may be sho!n to the consumers so that they understand the purpose of the brand name and the manner in !hich it !ill be used. -onsumers can be sho!n actual :/) packages as !ell as animated advertising or boards. #everal samples of consumers must be surveyed depending on the niche market involved. =. ,n the basis of the above steps, management can finali$e the brand name that maximi$es the organi$ations branding and marketing obBectives and then formally register the brand name. Brand Attributes portray a companys brand characteristics. hey signify the basic nature of brand. Brand attributes are a bundle of features that highlight the physical and personality aspects of the brand. Attributes are developed through images, actions, or presumptions. Brand attributes help in creating brand identity. A strong brand must have follo!ing attributes6 7. /elevanc'- A strong brand must be relevant. It must meet peoples expectations and should perform the !ay they !ant it to. A good Bob must be done to persuade consumers to buy the productC else inspite of your product being unique, people !ill not buy it. 9. (onsistenc'- A consistent brand signifies !hat the brand stands for and builds customers trust in brand. A consistent brand is !here the company communicates message in a !ay that does not deviate from the core brand proposition. :. .roper positioning- A strong brand should be positioned so that it makes a place in target audience mind and they prefer it over other brands. ;. !ustainable- A strong brand makes a business competitive. A sustainable brand drives an organi$ation to!ards innovation and success. 5xample of sustainable brand is .arks and #pencers. <. (redibilit'- A strong brand should do !hat it promises. he !ay you communicate your brand to the audience" customers should be realistic. It should not fail to deliver !hat it promises. )o not exaggerate as customers !ant to believe in the promises you make to them. =. 0nspirational- A strong brand should transcend" inspire the category it is famous for. &or example/ 0ike transcendent Dersey 3olo #hirt.

>. Uni1ueness- A strong brand should be different and unique. It should set you apart from other competitors in market. ?. 2ppealing- A strong brand should be attractive. -ustomers should be attracted by the promise you make and by the value you deliver. Brand positioning refers to target consumer%s reason to bu' 'our brand in preference to others. It is ensures that all brand activity has a common aimC is guided, directed and delivered by the brands benefits"reasons to buyC and it focusses at all points of contact !ith the consumer. Brand positioning must make sure that6

Is it unique"distinctive vs. competitors E Is it significant and encouraging to the niche market E Is it appropriate to all maBor geographic markets and businesses E Is the proposition validated !ith unique, appropriate and original products E Is it sustainable / can it be delivered constantly across all points of contact !ith the consumer E Is it helpful for organi$ation to achieve its financial goals E

Is it able to support and boost up the organi$ation E In order to create a distinctive place in the market, a niche market has to be carefully chosen and a differential advantage must be created in their mind. Brand positioning is a medium through !hich an organi$ation can portray its customers !hat it !ants to achieve for them and !hat it !ants to mean to them. Brand positioning forms customers vie!s and opinions. Brand 3ositioning can be defined as an activity of creating a brand offer in such a manner that it occupies a distinctive place and value in the target customers mind. &or instance/8otak .ahindra positions itself in the customers mind as one entity/ '8otak (/ !hich can provide customi$ed and one/stop solution for all their financial services needs. It has an unaided top of mind recall. It intends to stay !ith the proposition of ' hink Investments, hink 8otak(. he positioning you choose for your brand !ill be influenced by the competitive stance you !ant to adopt.

Brand 3ositioning involves identifying and determining points of similarity and difference to ascertain the right brand identity and to create a proper brand image. Brand 3ositioning is the key of marketing strategy. A strong brand positioning directs marketing strategy by explaining the brand details, the uniqueness of brand and its similarity !ith the competitive brands, as !ell as the reasons for buying and using that specific brand. 3ositioning is the base for developing and increasing the required kno!ledge and perceptions of the customers. It is the single feature that sets your service apart from your competitors. &or instance/ 8ingfisher stands for youth and excitement. It represents brand in full flight. here are various positioning errors, such as/ 7. Under positioning- his is a scenario in !hich the customers have a blurred and unclear idea of the brand. 9. 3ver positioning- his is a scenario in !hich the customers have too limited a a!areness of the brand. :. (onfused positioning- his is a scenario in !hich the customers have a confused opinion of the brand. ;. $ouble .ositioning- his is a scenario in !hich customers do not accept the claims of a brand. Brand identit' stems from an organi$ation, i.e., an organi$ation is responsible for creating a distinguished product !ith unique characteristics. It is ho! an organi$ation seeks to identify itself. It represents ho! an organi$ation !ants to be perceived in the market. An organi$ation communicates its identity to the consumers through its branding and marketing strategies. A brand is unique due to its identity. Brand identity includes follo!ing elements / Brand vision, brand culture, positioning, personality, relationships, and presentations. Brand identity is a bundle of mental and functional associations !ith the brand. Associations are not 'reasons/to/buy( but provide familiarity and differentiation thats not replicable getting it. hese associations can include signature tune1for example / Britannia 'ting/ting/ta/ding(2, trademark colours 1for example / Blue colour !ith 3epsi2, logo 1for example / 0ike2, tagline 1for example / Apples tagline is ' hink different(2,etc. <. Brand identity is the total proposal"promise that an organi$ation makes to consumers. he brand can be perceived as a product, a personality, a set of

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values, and a position it occupies in consumers minds. Brand identity is all that an organi$ation !ants the brand to be considered as. It is a feature linked !ith a specific company, product, service or individual. It is a !ay of externally expressing a brand to the !orld. Brand identity is the noticeable elements of a brand 1for instance / rademark colour, logo, name, symbol2 that identify and differentiates a brand in target audience mind. It is a crucial means to gro! your companys brand. Brand identit' is the aggregation of what all 'ou 4i*e* an organi&ation5 do* 0t is an organi&ations mission personalit' promise to the consumers and competitive advantages. It includes the thinking, feelings and expectations of the target market"consumers. It is a means of identifying and distinguishing an organi$ation from another. An organi$ation having unique brand identity have improved brand a!areness, motivated team of employees !ho feel proud !orking in a !ell branded organi$ation, active buyers, and corporate style. Brand identity leads to brand loyalty, brand preference, high credibility, good prices and good financial returns. It helps the organi$ation to express to the customers and the target market the kind of organi$ation it is. It assures the customers again that you are !ho you say you are. It establishes an immediate connection bet!een the organi$ation and consumers. Brand identity should be sustainable. It is crucial so that the consumers instantly correlate !ith your product"service. Brand identity should be futuristic, i.e, it should reveal the associations aspired for the brand. It should reflect the durable qualities of a brand. Brand identity is a basic means of consumer recognition and represents the brands distinction from its competitors. !6#B37!- #ymbols help customers memori$e organi$ations products and services. hey help us correlate positive attributes that bring us closer and make it convenient for us to purchase those products and services. #ymbols emphasi$e our brand expectations and shape corporate images. #ymbols become a key component of brand equity and help in differentiating the brand characteristics. #ymbols are easier to memori$e than the brand names as they are visual images. hese can include logos, people, geometric shapes, cartoon images, anything. +or instance, .arlboro has its famous co!boy, 3illsbury has its 3oppin &resh doughboy, )uracell has its bunny rabbit, .c )onald has Fonald, &ed 5x has an arro!, and 0ikes s!oosh. All these symbols help us remember the brands associated !ith them.

Brand symbols are strong means to attract attention and enhance brand personalities by making customers like them. It is feasible to learn the relationship bet!een symbol and brand if the symbol is reflective"representative of the brand. &or instance, the symbol of *4 symboli$e the !orld, future, youth, humanity, and technology. Also, it represents *4s efforts to keep close relationships !ith their customers. 7G. 73,3!- A logo is a unique graphic or symbol that represents a company, product, service, or other entity. It represents an organi$ation very !ell and make the customers !ell/acquainted !ith the company. It is due to logo that customers form an image for the product"service in mind. Adidass ' hree #tripes( is a famous brand identified by its corporate logo. +eatures of a good logo are : 7. It should be simple. 9. It should be distinguished"unique. It should differentiate itself. :. It should be functional so that it can be used !idely. ;. It should be effective, i.e., it must have an impact on the intended audience. <. It should be memorable. =. It should be easily identifiable in full colours, limited colour palettes, or in black and !hite. >. It should be a perfect reflection"representation of the organi$ation. ?. It should be easy to correlate by the customers and should develop customers trust in the organi$ation. @. It should not loose its integrity !hen transferred on fabric or any other material. 7G.It should portray companys values, mission and obBectives. The elements of a logo are: 7. *ogotype / It can be a simple or expanded name. 5xamples of logotypes including only the name are 8elloggs, %yatt, etc.

9. Icon / It is a name or visual symbol that communicates a market position. &or example/*I- hands, H I kalash. :. #logan / It is best !ay of conveying companys message to the consumers. &or instance/ 0ikes slogan 'Dust )o It(. 9. T/2$8#2/)!- rademark is a unique symbol, design, or any form of identification that helps people recogni$e a brand. A reno!ned brand has a popular trademark and that helps consumers purchase quality products. he good!ill of the dealer"maker of the product also enhances by use of trademark. rademark totally indicates the commercial source of product"service. rademark contribute in brand equity formation of a brand. rademark name should be original. A trademark is chosen by the follo!ing symbols6 I 1denotes unregistered trademark, that is, a mark used to promote or brand goods2C #. 1denotes unregistered service mark2 J 1denotes registered trademark2. Fegistration of trademark is essential in some countries to give exclusive rights to it. Without adequate trademark protection, brand names can become legally declared generic. 4eneric names are never protectable as !as the case !ith Aaseline, escalator and thermos. !ome guidelines for trademark protection are as follows: 7. 4o for formal trademark registration. 9. 0ever use trademark as a noun or verb. Al!ays use it as an adBective. :. Hse correct trademark spelling. ;. -hallenge each misuse of trademark, specifically by competitors in market. <. -apitali$e first letter of trademark. If a trademark appears in point, ensure that it stands out from surrounding text. Brand image is the current vie! of the customers about a brand. It can be defined as a unique bundle of associations !ithin the minds of target customers. It signifies !hat the brand presently stands for. 0t is a set of beliefs held about a specific brand . In short, it is nothing but the consumers

perception about the product. It is the manner in !hich a specific brand is positioned in the market. Brand image conveys emotional value and not Bust a mental image. Brand image is nothing but an organi$ations character. It is an accumulation of contact and observation by people external to an organi$ation. It should highlight an organi$ations mission and vision to all. he main elements of positive brand image are/ unique logo reflecting organi$ations image, slogan describing organi$ations business in brief and brand identifier supporting the key values. Brand image is the overall impression in consumers mind that is formed from all sources. -onsumers develop various associations !ith the brand. Based on these associations, they form brand image. An image is formed about the brand on the basis of subBective perceptions of associations bundle that the consumers have about the brand. Aolvo is associated !ith safety. oyota is associated !ith reliability. :. he idea behind brand image is that the consumer is not purchasing Bust the product"service but also the image associated !ith that product"service. Brand images should be positive, unique and instant. Brand images can be strengthened using brand communications like advertising, packaging, !ord of mouth publicity, other promotional tools, etc. ;. Brand image develops and conveys the products character in a unique manner different from its competitors image. he brand image consists of various associations in consumers mind / attributes, benefits and attributes. Brand attributes are the functional and mental connections !ith the brand that the customers have. hey can be specific or conceptual. Benefits are the rationale for the purchase decision. here are three types of benefits6 &unctional benefits / !hat do you do better 1than others 2,emotional benefits / ho! do you make me feel better 1than others2, and rational benefits"support / !hy do I believe you1more than others2. Brand attributes are consumers overall assessment of a brand. <. Brand image has not to be created, but is automatically formed. he brand image includes productsK appeal, ease of use, functionality, fame, and overall value. Brand image is actually brand content. When the consumers purchase the product, they are also purchasing its image. Brand image is the obBective and mental feedback of the consumers !hen they purchase a product. 3ositive brand image is exceeding the customers expectations. 3ositive brand image enhances the good!ill and brand value of an organi$ation.

Brand 0dentit'

Brand 0mage

Brand identity develops from the source or the company.

Brand image is perceived by the receiver or the consumer.

Brand message is tied together in terms of brand identity.

Brand message is untied by the consumer in the form of brand image.

he general meaning of brand identity is he general meaning of brand '!ho you really areE( image is '%o! market perceives youE(

Its nature is that it is substance oriented or strategic.

Its nature is that it is appearance oriented or tactical.

Brand identity symboli$es firms reality.

Brand image symboli$es perception of consumers

Brand identity represents 'your desire(.

Brand image represents 'others vie!(

It is enduring.

It is superficial.

Identity is looking ahead.

Image is looking back.

Identity is active.

Image is passive.

It signifies '!here you !ant to be(.

It signifies '!hat you have got(.

It is total promise that a company makes to consumers.

It is total consumers perception about the brand.

. Brand awareness is the probability that consumers are familiar about the life and availability of the product. It is the degree to !hich consumers precisely associate the brand !ith the specific product. It is measured as ratio of niche market that has former kno!ledge of brand. Brand a!areness includes both brand recognition as !ell as brand recall. Brand recognition is the ability of consumer to recogni$e prior kno!ledge of brand !hen they are asked questions about that brand or !hen they are sho!n that specific brand, i.e., the consumers can clearly differentiate the brand as having being earlier noticed or heard. While brand recall is the potential of customer to recover a brand from his memory !hen given the product class"category, needs satisfied by that category or buying scenario as a signal. In other !ords, it refers that consumers should correctly recover brand from the memory !hen given a clue or he can recall the specific brand !hen the product category is mentioned. It is generally easier to recogni$e a brand rather than recall it from the memory. Brand a!areness is improved to the extent to !hich brand names are selected that is simple and easy to pronounce or spellC kno!n and expressiveC and unique as !ell as distinct. &or instance / -oca -ola has come to be kno!n as -oke. here are t!o types of brand a!areness6

7. 2ided awareness- his means that on mentioning the product category, the customers recogni$e your brand from the lists of brands sho!n. 9. Top of mind awareness 40mmediate brand recall5- his means that on mentioning the product category, the first brand that customer recalls from his mind is your brand. he relative importance of brand recall and recognition !ill rely on the degree to !hich consumers make product/related decisions !ith the brand present or not. &or instance / In a store, brand recognition is more crucial as the brand !ill be physically present. In a scenario !here brands are not physically present, brand recall is more significant 1as in case of services and online brands2. Building brand awareness is essential for building brand e1uit' . It includes use of various reno!ned channels of promotion such as advertising, !ord of mouth publicity, social media like blogs, sponsorships, launching events, etc. o create brand a!areness, it is important to create reliable brand image, slogans and taglines. he brand message to be communicated should also be consistent. #trong brand a!areness leads to high sales and high market share. Brand a!areness can be regarded as a means through !hich consumers become acquainted and familiar !ith a brand and recogni$e that brand. Brand *oyalty is a scenario !here the consumer fears purchasing and consuming product from another brand !hich he does not trust. It is measured through methods like !ord of mouth publicity, repetitive buying, price sensitivity, commitment, brand trust, customer satisfaction, etc. Brand loyalty is the extent to !hich a consumer constantly buys the same brand !ithin a product category. he consumers remain loyal to a specific brand as long as it is available. hey do not buy from other suppliers !ithin the product category. Brand loyalty exists !hen the consumer feels that the brand consists of right product characteristics and quality at right price. 5ven if the other brands are available at cheaper price or superior quality, the brand loyal consumer !ill stick to his brand. Brand lo'al consumers are the foundation of an organi&ation . 4reater loyalty levels lead to less marketing expenditure because the brand loyal customers promote the brand positively. Also, it acts as a means of launching and introducing more products that are targeted at same customers at less expenditure. It also restrains ne! competitors in the market. Brand loyalty is a key component of brand equity.

Brand loyalty can be developed through various measures such as quick service, ensuring quality products, continuous improvement, !ide distribution net!ork, etc. When consumers are brand loyal they love 'you( for being 'you(, and they !ill minutely consider any other alternative brand as a replacement. 5xamples of brand loyalty can be seen in H# !here true Apple customers have the brandKs logo tattooed onto their bodies. #imilarly in &inland, 0okia customers remained loyal to 0okia because they admired the design of the handsets or because of user/ friendly menu system used by 0okia phones. Brand lo'alt' can be defined as relative possibilit' of customer shifting to another brand in case there is a change in product%s features price or 1ualit' . As brand loyalty increases, customers !ill respond less to competitive moves and actions. Brand loyal customers remain committed to the brand, are !illing to pay higher price for that brand, and !ill promote their brand al!ays. A company having brand loyal customers !ill have greater sales, less marketing and advertising costs, and best pricing. his is because the brand loyal customers are less reluctant to shift to other brands, respond less to price changes and self/ promote the brand as they perceive that their brand have unique value !hich is not provided by other competitive brands. Brand loyalty is al!ays developed post purchase. o develop brand loyalty, an organi$ation should kno! their niche market, target them, support their product, ensure easy access of their product, provide customer satisfaction, bring constant innovation in their product and offer schemes on their product so as to ensure that customers repeatedly purchase the product. Brand Associations are not benefits, but are images and symbols associated !ith a brand or a brand benefit. &or example/ he 0ike #!oosh, 0okia sound, &ilm #tars as !ith '*ux(, signature tune ing/ting/ta/ding !ith Britannia, Blue colour !ith 3epsi, etc. Associations are not 'reasons/to/buy( but provide acquaintance and differentiation thats not replicable. It is relating perceived qualities of a brand to a kno!n entity. &or instance/ %yatt %otel is associated !ith luxury and comfortC B.W is associated !ith sophistication, fun driving, and superior engineering. .ost popular brand associations are !ith the o!ners of brand, such as / Bill 4ates and .icrosoft, Feliance and )hirubhai Ambani. Brand association is an'thing which is deep seated in customer%s mind about the brand. Brand should be associated !ith something positive so that the customers relate your brand to being positive. Brand associations are the attributes of brand !hich come into consumers mind !hen the brand is talked

about. It is related !ith the implicit and explicit meanings !hich a consumer relates"associates !ith a specific brand name. Brand association can also be defined as the degree to !hich a specific product"service is recogni$ed !ithin its product"service class"category. While choosing a brand name, it is essential that the name chosen should reinforce an important attribute or benefit association that forms its product positioning. &or instance / 3o!er book. Brand associations are formed on the following basis: -ustomers contact !ith the organi$ation and its employeesC AdvertisementsC

Word of mouth publicityC 3rice at !hich the brand is soldC -elebrity"big entity associationC +uality of the productC 3roducts and schemes offered by competitorsC 3roduct class"category to !hich the brand belongsC 3,3 1 3oint of purchase2 displaysC etc

3ositive brand associations are developed if the product !hich the brand depicts is durable, marketable and desirable. he customers must be persuaded that the brand possess the features and attributes satisfying their needs. his !ill lead to customers having a positive impression about the product. 3ositive brand association helps an organi$ation to gain good!ill, and obstructs the competitors entry into the market. At times, organi$ations are often inspired by a variety of ideas to create products and services !hich can be offered locally or globally. 4enerally, such products or services require the establishment of a brand or company name. ,ften these brands include both logo and lettering and can do a long !ay in advertising such products or services. herefore, one of the most important steps in building a Brand is decide upon a brand name for the product or service one !ishes to sell. Branding is a process that allows an individual or a group of individuals

the abilit' to provide a brand image and lettering to an idea. Hpon doing so, one has a better chance of selling such items to a broader audience !hether that be on a local or global level. herefore, !hile the old adage 'nothing happens until somebody sells something,( still stands true to some extent, at times almost seems as if the process of advertising and branding has overtaken the desire to sell. Although branding generally identifies the company and philosophies behind same, it can also be representative of those !orking for such a company. his is a good thing as it generates the right type of audience to the product or service being sold based on personal relationships !ith those running the company. herefore, benefiting both the organi$ations selling the branded product or service and the dealers buying same. ,ne of the most important steps in selling any product or service is the belief one holds in relation to the item. herefore, only those !ho strongly believe in the products and services offered by the company are going to be good at selling same. ,ther!ise, one may !ant to !ork from an advertising or graphic artist perspective in relation to advertising rather than sales !hen it comes to time to market same. Another step is to build a brand that maintains lo'alt' !ith its customer base and has a strong customer service department. &or, having such a department in todayKs !orld !here one is both experienced and kno!ledgeable !hen it comes to helping others can be a rare find. #o, companies !ho represent oneself has having a strong customer base and even stronger customer service department are often more successful than those !ho do not. A very important step in marketing a brand is to identif' the target audience before creating the logo and lettering in relation to marketing. his is because different age groups react differently to a variety of logo and lettering especially as so much is misrepresented by a variety of gangs and others using such material inappropriately. herefore, if one can define the brand name, logo and lettering and present same to a marketing research revie! panel or the like, one may be able to gain a better understanding of !hich audience one needs to direct their product or service to in order to create the most sales. #till, if one can communicate the use of their product or service clearly, establish trust within the communit', be that locally or globally, aim marketing at the right audience, build a base of buyers and customer loyalty and offer great customer service, then one is on their !ay to not only creating and advertising an e"cellent brand but selling one as !ell.

herefore, !hen looking for steps in building a brand, there are many steps !hich one can complete to help make the creation of such brand an easier task. hese include, kno!ing your audience, building your brand, finding a great logo and lettering to represent same, targeting the appropriate audience and placing a number of ads in as many online and offline advertising venues one can find. &or, after doing so, one may Bust find that they are selling even more products and services than one had ever dreamed possible. Brand 5quity is the value and strength of the Brand that decides its !orth. It can also be defined as the differential impact of brand kno!ledge on consumers response to the Brand .arketing. Brand 81uit' e"ists as a function of consumer choice in the market place . he concept of Brand 5quity comes into existence !hen consumer makes a choice of a product or a service. It occurs !hen the consumer is familiar !ith the brand and holds some favourable positive strong and distinctive brand associations in the memory. Brand 81uit' can be determined b' measuring: 9 Feturns to the #hare/%olders. 9 5valuating the Brand Image for various parameters that are considered significant. 9 5valuating the Brands earning potential in long run. 9 By evaluating the increased volume of sales created by the brand compared to other brands in the same class. 9 he price premium charged by the brand over non/branded products. 9 &rom the prices of the shares that an organi$ation commands in the market 1specifically if the brand name is identical to the corporate name or the consumers can easily co/relate the performance of all the individual brands of the organi$ation !ith the organi$ational financial performance. 9 ,F, An amalgamation of all the above methods. +actors contributing to Brand 81uit' 7. Brand A!areness 9. Brand Associations :. Brand *oyalty

;. .erceived :ualit': refers to the customers perception about the total quality of the brand. While evaluating quality the customer takes into account the brands performance on factors that are significant to him and makes a relative analysis about the brands quality by evaluating the competitors brands also. hus quality is a perceptual factor and the consumer analysis about quality varies. %igher perceived quality might be used for brand positioning. 3erceived quality affect the pricing decisions of the organi$ations. #uperior quality products can be charged a price premium. 3erceived quality gives the customers a reason to buy the product. It also captures the channel members interest. &or instance / American 5xpress. <. 3ther .roprietar' Brand 2ssets: 3atents, rademarks and -hannel Inter/ relations are proprietary assets. hese assets prevent competitors attack on the organi$ation. hey also help in maintaining customer loyalty as !ell as organi$ations competitive advantage. =. Brand 5quity is defined as value and strength of the Brand that decides its !orth !hereas -ustomer 5quity is defined in terms of lifetime values of all customers. ;* Brand 81uit' and (ustomer 81uit' have two things in common9 Both stress on significance of customer loyalty to the brand

9 Both stress upon the face that value is created by having as many customers as possible pay high price as possible. ?. But conceptually both brand e1uit' and customer e1uit' differ. 9 While customer equity puts too much emphasis on lo!er line financial value got from the customers, brand equity attempts to put more emphasis on strategic issues in managing brands. 9 -ustomer 5quity is less narro! alternative. It can overlook a brands optional value and their capacity effect revenues and cost beyond the present marketing environment. 9 Dust as customer equity can persist !ithout brand equity, brand equity may also exist !ithout customer equity. &or instance I may have positive attitude to!ards brands / .c)onald and Burger 8ing, but I may only purchase from

.c)onalds brand consistently. @. o conclude, !e can say brands do not exist !ithout consumer and consumer do not exist !ithout brands. Brands serve as a temptation that utili$es other intermediaries to lure the customers from !hom value is extracted. -ustomers serve as a profit/medium for brands to encash their brand value. Both the concepts are highly co/related.

Brand 8"tension is the use of an established brand name in ne! product categories. his ne! category to !hich the brand is extended can be related or unrelated to the existing product categories. A reno!ned"successful brand helps an organi$ation to launch products in ne! categories more easily. &or instance, 0ikes brand core product is shoes. But it is no! extended to sunglasses, soccer balls, basketballs, and golf equipments. An existing brand that gives rise to a brand extension is referred to as parent brand. If the customers of the ne! business have values and aspirations synchroni$ing"matching those of the core business, and if these values and aspirations are embodied in the brand, it is likely to be accepted by customers in the ne! business. 5xtending a brand outside its core product category can be beneficial in a sense that it helps evaluating product category opportunities, identifies resource requirements, lo!ers risk, and measures brands relevance and appeal. Brand extension may be successful or unsuccessful. 0nstances where brand e"tension has been a success are/ i. ii. Wipro !hich !as originally into computers has extended into shampoo, po!der, and soap. #ars is no longer a famous bar only, but an ice/cream, chocolate drink and a slab of chocolate.

0nstances where brand e"tension has been a failure are/ i. In case of ne! (oke, -oca -ola has forgotten !hat the core brand !as meant to stand for. It thought that taste !as the only factor that consumer cared about. It !as !rong. he time and money spent on research on ne! -oca -ola could not evaluate the deep emotional attachment to the original -oca/ -ola.

ii.

Fasna *td. / Is among the famous soft drink companies in India. But !hen it tried to move a!ay from its niche, it hasnt had much success. When it experimented !ith fi$$y fruit drink 3ran<olt, the brand bombed even before it could take off. ,ranBolt !as a fruit drink in !hich carbonates !ere used as preservative. It didnt !ork out because it !as out of synchroni$ation !ith retail practices. ,ranBolt need to be refrigerated and it also faced quality problems. It has a shelf life of three/four !eeks, !hile other soft/ drinks assured life of five months.

2dvantages of Brand 8"tension Brand 5xtension has follo!ing advantages6 7. It makes acceptance of new product eas'* a. It increases brand image. b. c. he risk perceived by the customers reduces. he likelihood of gaining distribution and trial increases. An established brand name increases consumer interest and !illingness to try ne! product having the established brand name. he efficiency of promotional expenditure increases. Advertising, selling and promotional costs are reduced. here are economies of scale as advertising for core brand and its extension reinforces each other.

d.

e. -ost of developing ne! brand is saved. f. -onsumers can no! seek for a variety. g. h. 9. here are packaging and labeling efficiencies. he expense of introductory and follo! up marketing programs is reduced.

here are feedback benefits to the parent brand and the organi$ation. a. he image of parent brand is enhanced.

b. It revives the brand. c. It allo!s subsequent extension.

d. Brand meaning is clarified. e. It increases market coverage as it brings ne! customers into brand franchise. f. -ustomers associate original"core brand to ne! product, hence they also have quality associations. $isadvantages of Brand 8"tension 7. Brand extension in unrelated markets may lead to loss of reliabilit' if a brand name is extended too far. An organi$ation must research the product categories in !hich the established brand name !ill !ork. 9. here is a risk that the ne! product may generate implications that damage the image of the core"original brand. :. here are chances of less awareness and trial because the management may not provide enough investment for the introduction of ne! product assuming that the spin/off effects from the original brand name !ill compensate.

;. If the brand extensions have no advantage over competitive brands in the ne! category, then it !ill fail* What is (o-branding -o branding is the utili$ation of t!o or more brands to name a ne! product. he ingredient brands help each other to achieve their aims. he overall synchroni$ation bet!een the brand pair and the ne! product has to be kept in mind. 5xample of co/branding / -itibank co/branded !ith . A to launch a co/ branded debit card. his card is beneficial to customers !ho can avail benefits at specific outlets called . A -itibank club. T'pes of (o-branding -o/branding is of t!o types6 0ngredient co-branding and (omposite cobranding. 7. 0ngredient co-branding implies using a reno!ned brand as an element in the production of another reno!ned brand. his deals !ith creation of brand equity for materials and parts that are contained !ithin other products. he ingredient"constituent brand is subordinate to the primary brand. &or instance / )ell computers has co/branding strategy !ith Intel processors. he brands !hich are ingredients are usually the companys biggest buyers

or present suppliers. he ingredient brand should be unique. It should either be a maBor brand or should be protected by a patent. Ingredient co/branding leads to better quality products, superior promotions, more access to distribution channel and greater profits. he seller of ingredient brand enBoys long/term customer relations. he brand manufacture can benefit by having a competitive advantage and the retailer can benefit by enBoying a promotional help from ingredient brand. 9. (omposite co-branding refers to use of t!o reno!ned brand names in a !ay that they can collectively offer a distinct product" service that could not be possible individually. he success of composite branding depends upon the favourability of the ingredient brands and also upon the extent on complementarities bet!een them. 2dvantages and $isadvantages of (o-branding -o/branding has various advantages, such as / risk/sharing, generation of royalty income, more sales income, greater customer trust on the product, !ide scope due to Boint advertising, technological benefits, better product image by association !ith another reno!ned brand, and greater access to ne! sources of finance. But co/branding is not free from limitations. -o/branding may fail !hen the t!o products have different market and are entirely different. If there is difference in visions and missions of the t!o companies, then also composite branding may fail. -o/branding may affect partner brands in adverse manner. If the customers associate any adverse experience !ith a constituent brand, then it may damage the total brand equity. B/2-$ .8/!3-270T6 Based on the premise that brands can have personalities in much the same !ay as humans, Brand 3ersonality describes brands in terms of human characteristics. Brand personality is seen as a valuable factor in increasing brand engagement and brand attachment, in much the same !ay as people relate and bind to other people. .uch of the !ork in the area of brand personality is based on translated theories of human personality and using similar measures of personality attributes and factors.