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Branding Issues and Strategies


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Branding Issues and Strategies

  1. 1. MAR 3023 – PRINCIPLES OF MARKETING <ul><li>Dr. Jaishankar Ganesh </li></ul><ul><li>BA2 308G </li></ul><ul><li>Branding Issues & Strategies </li></ul><ul><li>October 20, 2003 </li></ul>
  2. 2. Brand A name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products.
  3. 3. Branding Terms <ul><li>Brand – an identifying name, term, or symbol </li></ul><ul><li>Brand Name – part of a brand that can be spoken </li></ul><ul><li>Brand Mark – symbolic-The elements of a brand that </li></ul><ul><li>cannot be spoken. </li></ul><ul><li>Trademark – legal designation of the exclusive use of brand </li></ul><ul><li>Trade Name – Commercial, legal name </li></ul>
  4. 4. Trademarks TM <ul><ul><li>Many parts of a brand and associated symbols qualify for trademark protection </li></ul></ul><ul><ul><li>The mark has to be continuously protected </li></ul></ul><ul><ul><li>Rights continue for as long as it is used </li></ul></ul>A Trademark is the exclusive right to use a brand
  5. 5. Trade Name
  6. 6. Types of Brands <ul><li>Manufacturer Brands </li></ul><ul><li>Private Brand OR Retailer/Store Brands </li></ul><ul><li>Captive Brands </li></ul><ul><li>Generic Brands </li></ul>Battle of the Brands
  7. 7. Four criteria for picking a good brand name Describe product benefits Be memorable, distinctive, and positive Fit the company or product image Have no legal restrictions A good brand name should . . . .
  8. 8. Good Brand Names: Suggest product benefits Become distinctive Are free from poor foreign language meanings Suggest product qualities Are easy to pronounce, recognize, remember
  9. 9. Selecting a Brand Name <ul><li>Easy to Say, Spell, and Recall </li></ul><ul><ul><li>Tide, Crest, Cheer </li></ul></ul><ul><li>Major Benefit(s) Indicated </li></ul><ul><ul><li>Mr. Clean, I Can’t Believe It’s Not Butter </li></ul></ul><ul><li>Suggest Product’s Use(s) and Special Characteristics </li></ul><ul><ul><li>Healthy Choice, Word Perfect </li></ul></ul><ul><li>Avoid Negative/Offensive Connotations </li></ul><ul><ul><li>Nova </li></ul></ul><ul><li>Distinctive </li></ul><ul><ul><li>Nike </li></ul></ul>
  10. 10. Value of Branding <ul><li>To Buyers </li></ul><ul><ul><li>Product Identification </li></ul></ul><ul><ul><li>Quality assurance </li></ul></ul><ul><ul><li>Rewards / Risks </li></ul></ul><ul><li>To Sellers </li></ul><ul><ul><ul><ul><ul><li>Immunity from Counterfeiters </li></ul></ul></ul></ul></ul><ul><li>Loyalty </li></ul>Favorable attitude towards a brand
  11. 11. The World’s Most Valuable Brands
  12. 12. Brand Loyalty <ul><li>Price premiums </li></ul><ul><li>Resistant to competition </li></ul><ul><li>Positive word of mouth </li></ul>
  13. 13. Brand Loyalty Pyramid No brand loyalty (customer will change) Satisfied customer (no reason to change) Satisfied and switching cost Values the brand Devoted to brand
  14. 14. Brand Equity BRAND EQUITY . . . . The added value a given brand provides a product beyond the functional benefits provided.
  15. 15. Brand Equity <ul><li>Name Awareness </li></ul><ul><li>Perceived Quality </li></ul><ul><li>Brand Associations </li></ul><ul><li>Other Brand Assets (logo, slogan, etc.) </li></ul><ul><li>Brand Loyalty </li></ul>
  16. 16. Perceived Brand Quality Brand Name Awareness Brand Loyalty Brand Associations XEROX Other Brand Assets THE 5 ELEMENTS OF BRAND EQUITY
  17. 17. Brand Name Protection <ul><li>Registration </li></ul><ul><li>Guard Against Generic Use – Genericide - Aspirin </li></ul><ul><li>Protect Against Counterfeiting </li></ul>
  18. 18. Branding Strategies Brand No Brand Manufacturer’s Brand Private Brand Individual Brand Family Brand Combi- nation Individual Brand Family Brand Combi- nation
  19. 19. Alternative branding strategies <ul><li>Family/Blanket branding strategy </li></ul><ul><li>Sunbeam makes: </li></ul><ul><ul><li>Sunbeam irons </li></ul></ul><ul><ul><li>Sunbeam toasters </li></ul></ul><ul><ul><li>Sunbeam crockware </li></ul></ul><ul><li>GE makes: </li></ul><ul><ul><li>TV </li></ul></ul><ul><ul><li>VCR </li></ul></ul><ul><ul><li>Microwave </li></ul></ul><ul><ul><li>Washer/Dryer </li></ul></ul><ul><li>Individual/ Multi-brand strategy </li></ul><ul><li>Anheuser-Busch makes: </li></ul><ul><ul><li>Budweiser </li></ul></ul><ul><ul><li>Busch </li></ul></ul><ul><ul><li>Michelob </li></ul></ul><ul><ul><li>Wurtburger </li></ul></ul><ul><ul><li>Hofbrau </li></ul></ul><ul><li>Procter & Gamble makes: </li></ul><ul><ul><li>Tide </li></ul></ul><ul><ul><li>Cheer </li></ul></ul><ul><ul><li>Ivory Snow </li></ul></ul><ul><ul><li>Oxydol </li></ul></ul><ul><li>Private branding </li></ul><ul><li>McClark’s </li></ul><ul><li>Bar-B-Cue Sauce </li></ul><ul><li>Kroger has: </li></ul><ul><ul><li>Store brands for various products </li></ul></ul><ul><li>Sears has: </li></ul><ul><ul><li>Kenmore appliances </li></ul></ul><ul><ul><li>Craftsman tools </li></ul></ul><ul><li>Combination/ Mixed branding strategy </li></ul><ul><li>Honda makes: </li></ul><ul><ul><li>Accord </li></ul></ul><ul><ul><li>Civic </li></ul></ul><ul><ul><li>Prelude </li></ul></ul><ul><ul><li>S-2000 </li></ul></ul><ul><ul><li>Odyssey </li></ul></ul><ul><li>Kellogg’s makes: </li></ul><ul><ul><li>Rice Krispies </li></ul></ul><ul><ul><li>Raisin Bran </li></ul></ul><ul><ul><li>Corn Flakes </li></ul></ul>Generic/No branding strategy Dog food Peanut butter Green beans Paper towels Aspirin Cola Branding strategy Manufacturer branding strategy
  20. 20. Product Extensions Line extension . . . . The use of a current brand to enter a new market segment in its product class Brand extension . . . . The use of a current brand name to enter a completely different product class
  21. 21. Cobranding Ingredient Branding Cooperative Branding Complementary Branding Types of Cobranding
  22. 22. Product Bundling <ul><li>Perception of Value </li></ul><ul><li>Ease of Information Processing </li></ul><ul><li>Reduction in Perceived Risk </li></ul><ul><li>Ability to control & smoothen demand </li></ul>