Branding Strategy in Marketing
•Download as PPTX, PDF•
0 likes•3,348 views
This document discusses branding and building strong brands. It defines what a brand is and outlines key aspects of brand equity, including brand loyalty, awareness, perceived quality, and associations. It also discusses strategies for building strong brands such as brand positioning, name selection, sponsorship, and development through line extensions, brand extensions, multi-branding, and new brands. The conclusion emphasizes that branding is about building consumer trust and that globalization has increased the importance of marketing to boost brand value and equity.
Recommended
More Related Content
What's hot
What's hot (20)
Similar to Branding Strategy in Marketing
Similar to Branding Strategy in Marketing (20)
More from Ismail Hussain
Recently uploaded
Recently uploaded (20)
Branding Strategy in Marketing
- 3. What is Brand? Brand Equity Brand Loyalty Brand Awareness Perceived Quality Brand Association Building Strong Brand Brand Positioning Brand Name Selection Brand Sponsorship Brand Development
- 11. Brand represents the consumer’s perceptions and feelings about a product and its performance. It is the company’s promise to deliver a specific set of features, benefits, services, and experiences consistently to the buyers.
- 13. Brand loyalty: Is a pattern of consumer behavior through which consumers tend to get committed to a specific brand or product and make repeat purchases over time. Brand Awareness: Is the ability of a potential buyer to recognize or recall that a brand is a member of a certain product category.
- 14. Perceived Quality: The customers perception of the overall quality or superiority of the product or service with respect to its intended purpose, relative to its alternatives. Perceived quality is a perception by its customers. Brand Association: Is a key to building strong brands since they represent what the brand stands for in the customer’s mind (Aaker, 1996).
- 18. Brand Name Selection cont…
- 22. Breaking Down Brand Sponsorship
- 23. Breaking Down Brand Sponsorship
- 24. Breaking Down Brand Sponsorship
- 25. Brand Development A company has four choices when it comes to brand development. [5]
- 26. Brand Development Line Extension: Line extension occur when a company introduces additional items in a given product category under the same brand name, such as new flavours, forms, colours, ingredients or package sizes. The vast majority of new-product activity consists of line extensions.
- 27. Brand Development Brand Extension: A brand-extension (or brand-stretching) strategy is any effort to use a successful brand name to launch new or modified products in a new category. Honda stretched its company name to cover such different products as its cars, motorcycles, marine engines and snowmobiles etc.
- 28. Brand Development Multi Brand: A Multi Brand strategy is defined as the approach of the company to market several similar and competitive brands of the same company under the guise of different brand names. Unilever – Is the biggest manufacturer of ice- cream and a multinational consumer goods company, that also produces several worldwide brands. For example, Sunsilk, Dove, Lipton and more. [6]
- 29. Brand Development New Brand: Firms that favour a multiband approach are likely to create a new brand to differentiate a new product, whether it is introduced into an existing or a new- product category. However, for some companies, a new brand may be created because it is entering a new-product category for which none of the company's current brands seems appropriate.
- 30. Brand Development New Brand: Firms that favour a multiband approach are likely to create a new brand to differentiate a new product, whether it is introduced into an existing or a new- product category. However, for some companies, a new brand may be created because it is entering a new-product category for which none of the company's current brands seems appropriate.
- 31. Conclusion Branding is about building consumer trust in an organization's products. Globalization and communication mediums are making a wider target audience possible. As a result, companies are investing heavily into marketing campaigns that can boost the value of their brand. Brand equity is durable and sustainable, and a product with strong brand equity is a valuable asset to a firm.
- 32. REFRENCES
Editor's Notes
- A brand is a promise a company makes to the customer, of what this product is going to deliver. That is, how the brand is going to fit into the business of the customer. The brand promise is a commitment by the organization, as making a promise to the customer is something that has to be followed. The creation of a strong brand is something the company is going to have to commit to, in order to make it work.
- Example; Surf Excel, mouth of word Brand Equity is the value that a consumer attaches to a certain brand. Although brand equity can be measured tangibly (wazaih) by way of certain indicators, a large component of the concept is intangible, i.e. what perceptions and associations people have of a certain brand, and the familiarity of those brands in the mind of the consumer.
- Loyalty is a core dimension of brand equity and is a way to gauge the strength of a brand. It represents a barrier to entry, a basis for a price premium, and time to respond to competitive innovations. Brand awareness reflects the salience of the product in the consumer's mind and involves various levels including recognition, recall, brand dominance, and brand knowledge and brand opinion.
- Perceived quality is an overall assessment(tashkheez) based on customer perceptions of what constitutes(tashkeel) quality product and how well the brand rates on those dimensions. According to Keller et al (2008), achieving a satisfactory level of perceived quality has become more difficult as product improvements have led to higher customer expectations regarding the quality of products. Brand associations are a key to building strong brands since they represent what the brand stands for in the customer’s mind (Aaker, 1996). In essence, brand association helps process and retrieves information about the brand and, in the ideal case, creates a positive attitude and feelings about the brand.
- Positioning is not about creating something new or different, but to manipulate the mind set and to retire existing connections (Ries and Trout, 2001). Kotler and Keller (2009) define brand positioning as an “act of designing the company’s offering and image to occupy a distinct place in the mind of the target market. Positioning is in essence(johar) a strategy to position the brand against other brands (Trout and Rivkin, 1996).
- Expandable (tafseelaat k qabil) able be expand or to be expended. Extendable (toseeh) Capable of being lengthened.
- Selecting the right name is a crucial(aham) part of the marketing process. The brand name should be carefully chosen. A good name can add greatly to a product's success. Most large marketing companies have developed a formal, brand-name selection process. Finding the best brand name is a difficult task. It begins with a careful review of the product and its benefits, the target market and proposed marketing strategies.
- It is a form of marketing in which a corporation pays for all or some of the costs associated with a project or program in exchange for recognition(tasleem). Corporations may display their logos and brand names, with specific mention that they have provided funding. Corporate sponsorships(kafalat) are commonly associated with non-profit groups or events in educational institutes, who generally would not be able to fund operations and activities without outside financial assistance(help). Corporate sponsorship is common for social programs, art exhibitions, performance, sports events. The promotion or advertisement can be done through banners, posters, logos on merchandise, announcements, brand promoting events and so on.
- 1) A national brand is the brand of a product that is distributed nationally under a brand name - owned by a producer or distributor 2) Private Brand Generic medicine and health products - pain relievers, cough syrup, bandages, etc. Textiles - towels, washcloths, bed sheets, etc.
- 3) Licensed Brand: the company is renting the use of the product or service from the owner. The licensee will then produce, promote, and distribute the product or service and, in exchange, the licensor will get royalties from the sale. 4) Co-branding is an arrangement that associates a single product or service with more than one brand name, or otherwise associates a product with someone other than the principal producer. The typical co-branding agreement involves two or more companies acting in cooperation to associate any of various logos, color schemes, or brand identifiers to a specific product that is contractually(moahiday) designated for this purpose.
- Coherent(marboot)
- Shriking(gahtna,sokarna) Statistically(adaad do shumar)
- Consequence(natija) exposure(numaish)
- A company might introduce line extensions for any of several reasons. It might want to meet consumers' desires for variety, or it might recognize a consumer want and try to capitalize on it. Excess manufacturing capacity might drive the company to introduce additional items, or the company might want to match a competitor's successful line extension. Some companies introduce line extensions simply to command more shelf space from resellers.
- brand extensions capture greater market share and realize greater advertising efficiency than individual brands. A well-regarded brand name helps the company enter new product categories more easily as it gives a new product instant(fori) recognition and faster acceptance. Sony puts its name on most of its new electronic products, creating an instant perception of high quality for each new product. Thus, brand extensions also save the high advertising cost usually required to familiarize consumers with a new brand name.
- For example, Toyota established a separate family name - the Lexus - for its new luxury executive cars in order to create a distinctive identity for the latter and to position these well away from the traditional mass-market image of the 'Toyota' brand name. Alternatively, a company may be compelled to differentiate its new product, and a new brand is the best route to signal its identity.
- For example, Toyota established a separate family name - the Lexus - for its new luxury executive cars in order to create a distinctive identity for the latter and to position these well away from the traditional mass-market image of the 'Toyota' brand name. Alternatively, a company may be compelled to differentiate its new product, and a new brand is the best route to signal its identity.