Branding <ul><li>Refers to the use of an exclusive name, symbol or design to identify a specific product or business. It is used to differentiate itself from similar products offered by rival firms. </li></ul><ul><li>Brand development : Is a long term product strategy that involves strengthening the name and image of a brand in order to boost its sales. Spending more on product promotional activities such as advertising, sales offer, free samples. </li></ul>
Branding <ul><li>Brand Extension : Refers to the use of an existing brand name that is successful to launch a new or modified product. </li></ul><ul><li>Generic Brand: These are trade marks that have become synonymous with the name of the product itself. Ex: Coke, Pepsi, Xerox. </li></ul><ul><li>Brand Loyalty : Customer buy the same brand of product time and time again. Ex: Apple company products, where customers buying i-pod and computer etc. </li></ul>
TOK <ul><li>Discuss how business communicate with consumers or potential customers. Is language the only way business get their message across? </li></ul>
Family branding <ul><li>This refers to marketing a range of products under a single brand name. Ex: Sony, General Electric GE, Hewlett-Packard, Cadbury’s and Kellogg’s. </li></ul><ul><li>Businesses that use family branding as marketing strategy can benefit from economics of scale. </li></ul><ul><li>By this they can also survey in market place by using brand extension strategy. Ex: Virgin Group uses this name for airlines, mobiles, car sales, books, drinks etc. </li></ul>
Family branding <ul><li>Certain issues with family branding are: </li></ul><ul><li>Bad publicity of one product or business itself can lead to huge problem for all products under the family brand. </li></ul><ul><li>Consistency in quality across all the products under the family brand is a big challenge. </li></ul><ul><li>At the same time good name for one product will promote all the products under it. </li></ul>
Product branding <ul><li>Within a family brand, there may be individual brands, also known as product branding. </li></ul><ul><li>This gives a brand a separate identity that is distinct from the family brand name. </li></ul><ul><li>Ex: Toyota was able to use Lexus to reposition itself to cater more affluent customers. </li></ul>
Company brand (Corporate branding) <ul><li>Company branding is a type of family branding. It refers to the use of business’s name as the brand name. McDonald’s, Nike, Disney and Virgin are examples. It uses the company name as a strategy to create brand recognition and loyalty. </li></ul><ul><li>Benefit by this is economics of large scale. </li></ul><ul><li>Demerit by this is company brand might be ‘too’ successful that the name becomes synonymous with the actual product. Ex: Band-Aid – Brand name / Johnson & Johnson – Company / Adhesive bandage </li></ul>
Own label brand <ul><li>Own label brands are the brands created and owned by distributors, such as warehouse and retailers. Ex: Super markets tend to have their own label brands for many of their products, such as Wal-Mart wines. </li></ul><ul><li>Own label brands are also know as private label brands. </li></ul><ul><li>These products are low price because of home production with a benefit of economics of scale. </li></ul><ul><li>Demerit of using own brand is that private labels tend to be seen by the public as low quality products that are catered for price-sensitive consumers. </li></ul>
Manufacturer’s brand <ul><li>These are brands created by the producers rather than the distributors of a brand. Ex: Levis Strauss & co. </li></ul><ul><li>Control supply chains strictly to ensure the only designated supplies through official channels reach distributors. </li></ul><ul><li>Levis Strauss &co created a strong brand as this can ensure that the business is resistant to buyers trying to force the price down. </li></ul><ul><li>This creates credibility for the stores selling these by this price will be more than the rival products. </li></ul>
Global brand <ul><li>As the world is getting smaller with wide range of technology facilities and improve in transport links international trade made easy. </li></ul><ul><li>MNC established brands across globe, this made ADS campaign with global appeal and made economies of scale. </li></ul><ul><li>Nokia is one of many MNC brand where the ADS campaign applicable for all the countries. Another example is McDonalds with a catchy caption attracts all the countries. </li></ul><ul><li>At the same time MNC should not go for generalized publicity that does not appeal strongly local or regional taste and trends. </li></ul>
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