B R A N D I N G O F S E R V I C E SPresentation Transcript
BRANDING OF SERVICES DR K V PRABHAKAR
Brands and Brand Symbols
Powerful brands such as these have brand equity :
Coca-Cola brand - $69 billion
IBM brand - $53 billion
Offers defense against fierce price competition.
Major Branding Decisions
Four Brand Strategies Line Extension Dannon Yogurt Flavors Multibrands Seiko Lasalle & Pulsar Brand Extension Barbie Electronics New Brands Windex (by acquisition) Brand Name Existing New Product Category Existing New
Existing brand names extended to new forms, sizes, and flavors of an existing product category.
Existing brand names extended to new or modified product categories.
New brand names introduced in the same product category.
New brand names in new product categories.
Who Does the Branding? Brand Choices ? ? ? ? Manufacturer
Who Does the Branding? Brand Choices Manufacturer ? ? ? ? Dealer
Who Does the Branding? Brand Choices Manufacturer Dealer ? ? ? ? Generic
Type of Brand Brand Choices ? ? ? ? Family Brand
Brand Choices Family Brand ? ? ? ? Type of Brand Individual Brand
Brand Choices ? ? ? ? Type of Brand Family Brand Individual Brand Licensed
Characteristics of a Good Brand Name
Short and simple
Suggestive of product benefits
Timeless rather than timely
No negative imagery
Easy to spell, read, and pronounce
Adaptable for international markets
Adaptable to packaging/labeling needs
Adaptable to any advertising medium
A Good Brand Name Is...
TOP GLOBAL BRANDS
The ten most valuable brand names in the world market are:
The biggest gainer in terms of brand value is the Starbucks which has 4434 stores on three different continents. A big reason for Starbuck’s success is that they put money into their employees rather than spend on advertising.
Starbucks is one of the first companies to ever offer part-time employees stock options and health benefits
According to the CEO of the Starbucks, the brand has to start with the culture and naturally extend to the customers
By creating a culture caring for their employees, the employees, in turn, care for the Starbucks customers.
Because of the large number of choices customers have in the market place, having an established, trusted, brand name is important
With the rise in popularity of the Internet, customers do not have to rely on traditional retailers for their brand select
They can purchase almost any brand they desire from the Internet
In addition, in most service categories, customers see little differences in the quality of various brands
With unlimited options and brand parity almost a norm, developing a top global brand presence is even more critical for success
Conditions Favorable to Building Brand Familiarity Seven Conditions Favorable to Successful Branding
Conditions Favorable to Building Brand Familiarity 1. Easy to identify by brand or trademark 2. Quality is best value for the price 3. Dependable and wide-spread availability 4. Demand for general product class is large 5. Demand supports price needed to support brand Seven Conditions Favorable to Successful Branding 6. Economies of scale possible 7. Favorable shelf locations possible
Levels of Brand Familiarity Rejection Non-recognition Recognition Preference Change Position Increase Awareness Continue Education Maintain Availability Focus: Focus: Focus: Focus : Insistence Develop High Brand Equity Focus :