What is a Brand?•“A Brand is a name, term, sign, symbol, ordesign which is intended to identify the goodsor services”.
Brand name•Brand name is one of the brand elements whichhelps the customers to identify and differentiateone product from another.
What is Brand management? Brand management includes managing thetangible and intangible characteristics of brand.In case of product brands, the tangibles include theproduct itself, price, packaging, etc. While in case ofservice brands, the tangibles include the customers’experience. The intangibles include emotionalconnections with the product / service.
How Brands Work ?BRAND PERSONALITIESBRANDINGTRUSTBRAND IMAGEBRAND RELATIONSHIPSBRAND EQUITY
Alternatives use in brand promotion Media Advertising (TV, radio, newspaper, magazines) . Interactive (on-line) Advertising & Web Sites. Exhibitions, Trade Shows, Conventions. Publicity or Public Relations.
WHAT IS CO-BRANDING:•Co-branding is the utilization of two or more brands toname a new product. The ingredient brands help eachother to achieve their aims. The overall synchronizationbetween the brand pair and the new product has to bekept in mind.
WHAT IS BRAND AWARENESS ?•Brand awareness is the probability that consumers arefamiliar about the life and availability of the product. It is thedegree to which consumers precisely associate the brand withthe specific product. It is measured as ratio of niche marketthat has former knowledge of brand.
CHARACTERISTICS OF GOODBRAND:•It should be unique.•It should be easy to pronounce.•Identified and memorized.•It should give an idea about product’s quality and benefits.•It should be easily convertible into foreign language.
Conclusion An understanding of brand management is an importantfeature of our business culture and brand position because itconfirms our reputation which in turn, drives our contractstability and security. Brand Image is fluid and subject toinfluential factors, both external and internal, and these mustbe understood and managed in clear business process.