Branding
Upcoming SlideShare
Loading in...5
×
 

Branding

on

  • 269 views

 

Statistics

Views

Total Views
269
Views on SlideShare
269
Embed Views
0

Actions

Likes
1
Downloads
6
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Branding Branding Presentation Transcript

  • BRANDS
  • Brands • The word "brand" is often used as a metonym, referring to the company that is strongly identified with a brand. • Brand is the "name, term, design, symbol, or any other feature that identifies one seller's product distinct from those of other sellers. • A brand is often the most valuable asset of a Corporation. • A modern example of a brand is Coca Cola which belongs to the Coca-Cola Company.
  • Types of Brand Names Initialism: A name made of initials such, as UPS or IBM Descriptive: Names that describe a product benefit or function, such as Whole Foods or Airbus Alliteration and rhyme: Names that are fun to say and stick in the mind, such as Reese's Pieces or Dunkin' Donuts Evocative: Names that evoke a relevant vivid image, such as Amazon or Crest Neologisms: Completely made-up words, such as Wii or Kodak Foreign word: Adoption of a word from another language, such as Volvo or Samsung Founders' names: Using the names of real people, (especially a founder's name), such as Hewlett-Packard, Dell or Disney Geography: Many brands are named for regions and landmarks, such as Cisco and Fuji Film •
  • Brand Equity • Brand equity is a what the brand is worth to a customer. • Brand equity consists of all the thoughts, feelings, images, experiences, beliefs, a nd so on that become associated with the brand. Brands must create strong, favourable and unique brand associations with customers, as has been the case with Volvo (safety), hallmark (caring), and Harley-Davidson (adventure).
  • • The differential response by consumers that makes up the brand equity is reflected in perceptions, preferences, and behaviour related to all aspects of the marketing of a brand.
  • BENEFITS OF BRAND EQUITY • Strong brand names simplify the decision process and reduce risk. • Brand names are used to maintain higher awareness of products. • Company’s use brand equity to gain leverage when introducing new products. • The brand name is often interpreted as an indicator of quality. • Strong brand equity insures that your products are considered by most buyers.. • Higher brand name equity leads to greater loyalty from customers. • Strong brand equity is the best defence against new products and new competitors. • Improvements in brand equity lead to higher rates of product trial and repeat purchasing due to buyers' awareness of your brand, approval of its image/reputation and trust in its quality.
  • BUILDING BRAND EQUITY • The initial choices for the brand elements or identities making up the brand. • The product and service and all accompanying marketing activities and supporting marketing programs. • Other associations indirectly transferred to the brand by linking it to some other entity (e.g., a person, place, or thing).
  • E.g.. Apple Computers • “To create great things that change people’s lives” “Open iPod DJ Parties” • Apple spent $293 million to create 73 retail stores to fuel excitement for the brand. ....14 million visitors in 2003 .....more people can see and touch Apple products—and see what Apple can do for them—the more likely Apple is to increase its market share, which is still a tiny slice of the PC market.
  • Brand Name • Branding is a process that allows an individual or a group of individuals the ability to provide a brand image and lettering to an idea. • A very important step in marketing a brand is to identify the target audience .
  • Brand Sponsorship • Brand Sponsorship is a business association between the contributor of funds and an organization/individual so that the partnership can be used for commercial advantage. A good example is the Indian cricket team. Sponsors like SAHARA, Coke pay for their kit and equipment and have their logos all over their dress from the helmet to the bat. This is a form of advertising which works really well because we would be more convinced with our cricketers sporting these logos.
  • Eg : Brand Sponsorship The Global Innovation Series is supported by BMW i, a new concept dedicated to providing mobility solutions for the urban environment. It delivers more than purpose-built electric vehicles — it delivers smart mobility services.
  • 2. Buy Some Clothing — This Shirt Helps The good folks at This Shirt Helps have come up with a way for you to stay warm and support a good cause. The company sells just the basics — different t-shirts in different colors — with a social good spin. A percentage of every shirt goes to a charity and cause of choice. For example, buyers can choose to donate to disaster relief which supports Waves for Water, a program that pairs surfing tourists with low-cost water filters they can set up in the developing countries they visit.
  • 3. Purify It - SteriPen Once a community has access to water, how do you make sure it is safe to drink? Cheap, efficient water purifiers are in high-demand. There are a variety of highgrade purifiers on the market — SteriPen, for example, has options for camping, emergency and military use.
  • Brand Strategic Decisions A company has five choices when it comes to brand strategy. There are line extensions, brand extensions, multi-brands, new brands and cobrands .1.Line Extension: Line Extensions consist of introducing additional items in the same product category under the same brand name, such as new flavors, forms, colors, added ingredients and package sizes.
  • 2.Brand Extensions: • A company may use its existing brand name to launch new products in other categories. • 3.Multi-Brands: A Company will often introduce additional brands in the same product category. Sometimes the company is trying to establish different features or appeal to different buying motives. • 4.New Brands: When a Company launches products in a new category, it may find that none of its current brand names are appropriate. • • 5.Co-Brands: Co-Brands are also called as dual branding, in which two or more well known brands are combined in an offer. Co-branding takes a variety of forms. One is ingredient cobranding, second one is same company co-branding & third is joint venture co-branding .
  • •Brand Development How….?????
  • • Decide what you’re going to brand. Are you branding a product, a service, a company, or an individual? • Do your research. First, find out everything there is to know about your market. Then, find out everything there is to know about your product or service. • Position your product or service. Find and win a place for your offering in the marketplace and in consumers’ minds by providing unique solutions to problems or needs that aren’t already being addressed by competing products. • Write your brand definition. Your brand definition describes what you offer, why you offer it, how your offering is different and better, what unique benefits your customers can count on, and what promise or set of promises you make to all who work with and buy from your business. face of your brand. Your tagline is the memorable phrase that provides consumers with a quick indication of your product, brand, and market position.
  • • Develop your name, logo, and tagline. Your name is the key that unlocks your brand image in your consumer’s mind. Your logo is the brand mark or symbol that serves as the face of your brand. • Launch your Brand Your brand goes public when you unveil your name, logo, and slogan, and when you begin to tell your market the story of how your brand reflects what you stand for. • Manage, leverage, and protect your brand. This is the “care and feeding” phase of the branding process; it’s the step that leads to a strong, healthy, resilient brand. Just like good parenting, good branding management can be summed up in a single word — consistency. • Realign your brand to keep it current. Occasionally, you can (and should) change how your brand is presented. From time to time, you need to update your brand presentation (the face of your brand) to keep it relevant to the market in which it lives.
  • Co-branding • Co branding is the utilization of two or more brands to name a new product. The ingredient brands help each other to achieve their aims. The overall synchronization between the brand pair and the new product has to be kept in mind. • Example of co-branding - Citibank co-branded with MTV to launch a co-branded debit card. This card is beneficial to customers who can avail benefits at specific outlets called MTV Citibank club.
  • Advantages & Disadvantages • Co-branding has various advantages, • such as - risk-sharing, generation of royalty income, more sales income, greater customer trust on the product, wide scope due to joint advertising, technological benefits, better product image by association with another renowned brand, and greater access to new sources of finance. • But co-branding is not free from limitations. • Co-branding may fail when the two products have different market and are entirely different. If there is difference in visions and missions of the two companies, then also composite branding may fail. Co-branding may affect partner brands in adverse manner. If the customers associate any adverse experience with a constituent brand, then it may damage the total brand equity.
  • Brand Positioning • Brand positioning refers to “target consumer’s” reason to buy your brand in preference to others. • It is ensures that all brand activity has a common aim; is guided, directed and delivered by the brand’s benefits/reasons to buy; and it focusses at all points of contact with the consumer.
  • Brand positioning must make sure that: • Is it unique/distinctive vs. competitors ? • Is it significant and encouraging to the niche market ? • Is it appropriate to all major geographic markets and businesses ? • Is the proposition validated with unique, appropriate and original products ? • Is it sustainable - can it be delivered constantly across all points of contact with the consumer ? • Is it helpful for organization to achieve its financial goals ? • Is it able to support and boost up the organization ?