PRESENTED BY: Javeria 11-arid-3303 MIT-2 University Institute of Information Technology , Rawalpindi(UIIT,UAAR) Pakistan
BRAND "Name, term, design, symbol, or any other feature that identifies one sellers good or service as distinct from those of other sellers." Some popular brands:
Branding Advantages Help consumer identify products Help seller to segment markets Brand represent the quality and consistency of product Brand name provides legal protection to seller by refraining copying of the product and its features by competitors
PACKAGING “Packaging is the art, science, and technology of enclosing or protecting products for distribution, storage, sale, and use.”
Packaging Advantages Hold the product Attract attention of consumers Describe the product features Product safety
LABELING “Labels range from simple tags attached to products to complex graphics that are part of the package.”LABELING IMPORTANCE: Identify the product Describe product features Promotion of brand
Essentials of Labeling (of an edible product) Price per unit of standard measure Nutritional values in the product Manufacture and Expiry Date of product
PRODUCT SUPPORT SERVICESIt includes: Surveying customers to assess the value of current services On the basis of survey reports, fix the problems and add new services Many companies are providing support services to their customers through phone, e-mail, fax, internet.
PRODUCT LINE “Group of products manufactured by a firm that are closely related in use and in production and marketing requirements.”e.g., product line of LU:
Product Line DecisionsIt include deciding about: Product Line Length - The number of items in a product line Product Line Filling - adding more items within the present range of items. Product Line Stretching - increasing the product line beyond its current range (either downward or upward or both ways).
PRODUCT MIX “A range of associated products that yields larger sales revenue when marketed together than if they were marketed individually.” Pepsico Product Mix
Product Mix Dimensions Width - no. of product lines Length - total no. of items in product lines Depth - no. of versions of each product Consistency - how closely related the product lines are
BRAND EQUITY “A measure of the brand’s ability to capture consumer preference and loyalty.” Brand valuation is the process of estimating the total financial value of a brand. Customer equity is the value of customer relationships that the brand creates.
Consumer Perception Dimension of Brand Strength (according to an ad agency Young & Rubicam’s) Differentiation - what makes the brand stand out Relevance - how consumer feel it meet their needs Knowledge - how much consumer know about brand Esteem - how highly consumer regard and respect the brand
BUILDING STRONG BRANDS Major Brand Strategy Decisions: Brand Brand Brand Brand Name Sponsor-Positioning Development Selection ship
1. BRAND POSITIONING “The act of designing the company’s offering and image in such a way that it occupies a distinctive place in the minds of customers.”A brand can be positioned on the basis of: Product attributes Benefits Beliefs and values
2. BRAND NAME SELECTION Desirable Qualities of a brand name: Suggest the product’s benefits and qualities Easy to pronounce, remember and recognize Capable of registration and legal protection Distinctive Extendable Easily translatable
National Brand (Manufacturer’s Brand)“A brand sold out under its own uniquebrand name.” Example: Lay’s Chips
Private Brand (Store brand or Distributor brand)“A brand created and owned by areseller of a product or service.” Example: atwood’s coffee
Licensed Brand“A brand name or symbol licensed witha name which was previously created byother manufacturers, or the names ofcelebrities, or characters from popularmovies and books.” Example: Kellogg’s (Character Logo) “Tony the
Co-branding“Using the established brand names of two different companies on the same product.” Example: Motorola Ferrari co-branding
4. BRAND DEVELOPMENT STRATEGY Product category Existing New Line Brand Existing Extension Extension Brand Name New Multi- New brands Brands
Line Extension Existing brand name Existing product category Example: Servis shoes has different range of shoes for different people. This strategy is called line extension.
Brand Extension Existing brand name New product category Example: Servis shoes have extend their brand by adding a new product category of Servis Tyres & Tubes.
Multi-brands New brand name Existing product categoryExample:Unilever has multi-brands in the same product categoryof shampoosSuch as Dove, Sunsilk, Lux etc.
New Brands New brand name New product category Example: Olper’s milk introduced a new product category of juices with a new brand name of Olfrute
MANAGING BRANDS Continuously communicate brand positioning to the consumers. Everyone in the company should live the brand. Periodically audit the brand’s strengths and weaknesses. Brands are not maintained by advertising but by the brand experience.