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American Marketing Association defined brand as a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.
What is a Brand?
A brand is a name, term, sign, symbol, or design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
What is a Brand?
A slogan? A typeface? A sound? An image? A logo? A personality? A jingle?
What is a Brand?
A brand is a promise.
It is both functional and emotional. It is the art and science of creating mind space and shelf space.
What is a product?
A product is any offering by a company to a market that serves to satisfy customer needs and wants. It can be an object, service, idea,etc.
A brand is therefore more than a product, as it can have dimensions that differentiate it in some way from other products designed to satisfy the same need.
Brand name: part of a brand consisting of words or letters that form a name that identifies and distinguishes a firms offering from those of its competitors Brand mark: symbol or pictorial design that identifies a product eg.swoosh mark of
Nike, or Golden Arches of McDonalds.
Product Identification
Generic name: branded name that has become a generically descriptive term for a class of products
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Trademark: legal protection which confers the exclusive right to user brand name, trade mark, and any slogan or product name abbreviation A trade name is the full and legal name of a firm, such as Maruti Udyog Ltd., and not the specific name of a product. Trade Dress: visual cues used in branding to create an overall look
The distinctive shape of Philips light bulbs provide an example of trade dress
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Branding Challenges & Opportunities Knowledgeable consumers. Brand Proliferation Increased competition Increased costs of introducing new product or supporting existing product. Greater accountability
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Brand Elements
A variety of brand elements can be chosen that inherently enhance brand awareness or facilitate the formation of strong, favorable, and unique brand associations: Brand Name Logo Symbol Character Packaging Slogan
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Brand name
The brand name is central to all brand elements. It should be easily remembered, highly suggestive, interesting, compact. Has the least response time of all informational elements. Contain all the factors of a proper brand element
Easy to pronounce
Familiarity
Familiarity helps to tap existing knowledge structure having a concrete or abstract meaning
Types of Brand
There are several brand options that include manufacturer brand (also called national brand), private brand (also called distributor, reseller, store, or house brand), or a licensed brand.
Manufacturer brands are initiated by manufacturers and identify the
producer.
Private brands is that they are resellers initiated brands. Licensed brand is a relatively new trend and involves licensing of trademarks.
Brand equity: added value that a respected, well-known brand name gives to a product in the marketplace.
Brand equity increases the likelihood that consumers will recognize the firms product when they make purchase decisions A strong brand equity can contribute to buyers perceptions of product quality Branding can also reinforce customer loyalty and repeat purchases
Brand loyalty
Brand Equity
Perceived quality
Brand associations
Brand Awareness
The level of familiarity consumers have with a brand name. The ability to link a brand name with a particular product.
Brand Loyalty
The tendency of customers to continue to use the same product over time Resistance to switching Based on:
Simple habit Preference Switching costs
Brand Associations
Brand name used to reinforce perceptions about the product
Metaphors and imagery used to enhance brand association with product
Addiction Perfume, CloseUp Toothpaste
Brand Extension
A Brand Extension occurs when a firm uses an established brand name to introduce a new product Tommy hillfiger perfume , watch , home accessories.
An existing brand that gives birth to a brand extension is the parent brand If the parent brand is already associated with multiple products through brand extensions, then it may also be called a family brand.
Product extension
It is the different/new version of same parent product They serve a different segment of the target market and increase the variety of offering product. Examples: (i) coke extend itself to diet coke in the same product category of soft drinks:
Amul butter extend itself to amul reduced salt butter, amul cheese and cheese slices in its core area of milk product derivatives.
II. Extended to items in a related product line Maggi initially was a brand of noodles. Later the brand name was extended to other product lines in the related category food Maggi ketchup, Maggi soup etc., It is a case of related brand extension. Dettol Soap antiseptic soap Dettol Plaster - antiseptic bandage Dettol Handwash antiseptic wash
Brand extension
It could be across different product categories Examples: Harley davidson motorcycle extend itself into harley davidson accessories.
Land rover extend itself from tough off road vehicle too a line of stylish yet functional outdoor clothing, shoes etc.
CATEGORY EXTENSION
The parent brand is used to enter a different product category from that currently served by the parent brand.
LINE EXTENSIONS
The product line is now far more representative of customers varying quantity needs. It suggests the presence of usage segmentation. Customers differs in terms of their usage quantities. The brand has to fill the whole spectrum with products as per the needs of various segments.
Example
Bisleri is the pioneering brand in the mineral water category. Originally, Bisleri used to come in a one liter bottle. But recently, Bisleri has exhibited a spate of innovations. The brand launched bottles of different sizes and quantities. The Bisleri portfolio now includes one liter, 1.2 liter, 1.5 liter and 5 liter bottles.
Product Sizes
Bisleri .5 ltr
Bisleri 5 ltr
Colour
Pantene White
Pantene Black
Pantene Pink
Etc.,
Flavours
Rasna Orange
Rasna Mango
Ingredient
Colgate gel
Colgate Herbal
Form
Brand rejuvenation
Brand rejuvenation involves adding value to an existing brand by improving product attributes and enhancing its overall appeal. It is intended to re-focus the attention of consumers on an existing brand. Brand rejuvenation helps overcome the consumers boredom in seeing the same product on the shelves year after year
New Burnol: Burnol became New and appeared in a new pack. New Horlicks : Horlicks to the New Horlicks claimed more nourishment through additional protein and calcium, eight essential vitamins and iron. New Nescafe: Nestle rejuvenated Nescafe and brought in the New Nescafe. New Nescafe was made using the new agglomeration coffee process, instead of the fine powder form and the coffee now came in small round goblets. New Bournvita: To give a push Bournvita, Cadburys came out with New Bournvita, with extra glucose in a new packing.
Relaunch Vs Rejuvenation
Relaunch: This could be through packaging changes, product upgrades, a new positioning, or any combination of several changes in the fundamentals of the brand. Brand Rejuvenation: When marketers identifies that the decline stage for a brand has come and the concern brand is going to die marketer injects new life in brand by adding new product features, packaging or by changing STP strategies. this activity in whole is called Brand Rejuvenation. example: To Brand Rejuvenation Herohonda Splendor company launched HeroHonda Splendor NXG
Brand Cannibalism: When two brand in the same product line, offered by same player target same market segment and compete with each other by eating away the market share without adding any value to the marketer. Example: Hero Honda Glamour and Herohonda Splendor
Brand proliferation: when one company introduce new brands in the same product lines and hence try to cover each and every market segment for that product line. example: HUL has different brands in shampoo product line offering a wide range of choice for customer of every segment.
Co-Branding
Co-branding, also called brand partnership, is when two companies form an alliance to work together, creating marketing synergy. As described in Co-Branding: ingredient co-branding same-company co-branding Joint venture co-branding multiple sponsor co-branding
Another P?
Packaging, sometimes called the another P, is all the activities of designing and producing the container for a product.
Packaging
Packaging is the activity of designing and producing containers or wrappers for a product It should be both aesthetic as well as functional
Aesthetic: It conveys the size, shape, colour and material of the package Functional: It conveys structural designs of the package, thus it becomes more convenient to use