+How it started200 to 300 years ago, Branding came fromthe word Old Norse Brandr meaning to„burn‟owners stamped their cows to distinguish
+ How it started cont‟d19th and 20th Industrial revolution gave theconcept a radical pushSince WWII, there has been an explosionof brands which has come to symbolize theconvergence of the world economies on thedemand-led model rather than thecommand-led model
+ A brand is the differentiator of a product or service from similar offerings
+ Market share is not based on merit, but on the power of the brand in the mind. - Al Ries It involves leveraging on the functional and emotional attributes of a brand in other to build brand equity
+ So why the hype? Value association Pride Differentiated from competition Command premium price Sell more (Substantiate market price) Attract and retain stronger employees Higher consumer followership A practical example: BMW which has the tag line „the ultimate driving machine‟ as this is one thing everyone experiences
+ a trade mark – these are legal properties a mission statement – this is a reminder a logo or a slogan – these are your signatures a product or a service – these are just the tangibles advertising – they deliver your messages
+ Point of view – branding is a strategic point of view, not a select set of marketing activities Customer value – branding is central to creating customer value, not just sound bites and images Competitive advantage – branding is a key tool for creating and sustaining competitive advantage Engineered – brand strategies must be “engineered” into the strategic planning process Meaning – brands get their identity from meanings. Products and services are the blood of a brand. Your organizational culture and standards for action are the heartbeat. Logic and emotion – branding is part science and part art
+ Types of brands Product Brands Service Brands E-brands Cause Brands Nation Brands Government Brands Global Brands Corporate Brands
+ Types of branding cont‟d Corporate brand (umbrella brand ) is the practice of using a companys name as a product brand name. It is an attempt to use corporate brand equity to create product brand recognition. Dangote, for example, the word "Dangote" is included on all products. Product brand involves giving each product in a portfolio its own unique brand name. This contrasts with corporate branding in which the products in a product line are given a single overarching brand name. The advantage of individual branding is that each product has an image and identity that is unique. This facilitates the positioning of each product, by allowing a firm to position its brands differently.
+ Cont‟d Service Brands- Involves delivering service which involves personal contact. E.g. hotels, banks, travel agents, advertising agencies Government brands-Governments and political parties often have strong brands as they are centered on passionately held core values, Branding is important in both securing votes and in international diplomacy. Cause Brands – Attempting to attract customers by associating the company with a cause or purpose that potential customers would find beneficial to their personal goals or in line with their values. This might be a percentage contribution of company sales to charitable organizations or donations to nature and wildlife preservation councils.
+ Types of branding Global Brands – uses single corporate brand name. These brands think global but act local to have relevance E-Brands -.These are brands that are online based. The Internet is a medium that presents new challenges for brand owners. E.g. Amazon.com Nation brands - New ways of thinking lead to countries being positioned as tourist destinations, enhancing status of goods and services produced, and aiding under-developed countries.
+Brand AssessmentInternal and external assessmentConsumer insight to determine the building blocks bythe brandIdentity points of differentiation
+Brand PromiseCrafting the brand essence, brand story and brandpromise drawing on insight from the brandassessment
+Brand BlueprintCreating visual representations (look and feel of thebrand)Creating the physical and visual expressions, logo,colours, by-line i.e. the brand identities
+Brand CulturalizationInternal immersionCreating a corporate culture around the brand byaligning all members of staff with the Brand visionand Essence
+Brand AdvantageLeveraging the brandCreating communication strategies andchannels to engage the Brand‟s audienceand build and maintain and growaffinity, salience and brand equity
+ Types of branding Corporate branding is the practice of using a companys name as a product brand name. It is an attempt to use corporate brand equity to create product brand recognition. It is a type of family branding or umbrella brand. Dangote, for example, includes the word "Dangote" in the name of many of its products. This strategy contrasts with individual product branding, where each product has a unique brand name and the corporate name is not promoted to the consumer. Individual branding, is the marketing strategy of giving each product in a portfolio its own unique brand name. This contrasts with family branding, corporate branding, and umbrella branding in which the products in a product line are given a single overarching brand name. The advantage of individual branding is that each product has an image and identity that is unique. This facilitates the positioning of each product, by allowing a firm to position its brands differently. Examples of individual product branding include Procter & Gamble, which markets multiple brands such as Pampers, and Unilever, which markets individual brands such as Dove. Cause Branding – Attempting to attract customers by associating the company with a cause or purpose that potential customers would find beneficial to their personal goals or in line with their values. This might be a percentage contribution of company sales to charitable organizations or donations to nature and wildlife preservation councils.
+ Types of branding Co-Branding – Becoming more familiar to the consumer all the time. These include, for example, mini- marts attached to gas stations, banking facilities within grocery stores, and Laundromats attached to anything from bowling alleys to family entertainment centers. This branding falls in the “one-stop shopping” category. Rebranding is the creation of a new name, term, symbol, design, or a combination of them for an established brand with the intention of developing a differentiated (new) position in the mind of stakeholders and competitors. Personal branding is, for some people, a description of the process whereby people and their careers are marked as brands. It has been noted that while previous self-help management techniques were about self-improvement, the personal branding concept suggests instead that success comes from self- packaging. Further defined as the creation of an asset that pertains to a particular person or individual; this includes but is not limited to the body, clothing, appearance and knowledge contained within, leading to an indelible impression that is uniquely distinguishable Faith branding is the concept of branding religious organizations, leaders, or media programming, in the hope of penetrating a media-driven, consumer-oriented culture more effectively. Essentially, faith branding treats faith as a product and attempts to apply the principles of marketing in order to "sell" the product. Faith branding is a response to the challenge that religious organizations and leaders face today regarding how to express their faith in a media-dominated culture.