Nepoleon Prabakaran Uncategorized

Major Branding Decisions

Brand or not to Brand

The company must first decide whether it should put a brand name on its product. Branding has become so strong that today hardly anything goes unbranded.

Branding helps buyers in many ways:

  • Brand names tell the buyer something about product quality. Buyers who always buy the same brand know that they will get the same quality each time they buy.
  • Brand names also increase the shopper’s efficiency. Imagine a buyer going into a supermarket and finding thousands of generic products.

Branding also gives the supplier several advantages:

  • The brand name makes it easier for the supplier to process orders and track down problems.
  • The supplier’s brand name and trademark provide legal protection for unique production features that otherwise might be copied by competitors.
  • Branding enables the supplier to attract a loyal and profitable set of customers.

Branding also adds value to consumers and society:

  • Those who favor branding suggest that it leads to higher and more consistent product quality.
  • Branding also increases innovation by giving producers an incentive to look for new features that can be protected against imitating competitors. Thus, branding results in more product variety and choice for consumers

Brand Name Selection

Selecting the right name is a crucial part of the marketing process. The brand name should be carefully chosen. A good name can add greatly to a product’s success

Desirable Qualities of Brand Name

  • It should suggest something about the product’s benefits and qualities. Examples: Oasis (a still fruit drink), Kleenex (tissue paper), Frisp (a light savory snack).
  • It should be easy to pronounce, recognize and remember. Short names help. Examples: Dove (soap), Yale (security products). But longer ones are sometimes effective. Examples: “Love My Carpet’ carpet cleaner
  • The brand name should be distinctive. Examples: Shell, Kodak, Virgin.
  • The name should translate easily (and meaningfully) into foreign languages. For example, in Chinese Ferrari is pronounced as ‘fa li li’, the Chinese symbols for which mean ‘magic, weapon, pull, power’, which flatter the brand.
  • It should be capable of registration and legal protection, A brand name cannot be registered if it infringes on existing brand names. Also, brand names that are merely descriptive or suggestive may be unprotectable.

Brand Sponsors

manufacturers brand

Manufacturer’s brand (national brand) A brand created and owned by the producer of a product or service.

private brand

Private brand (middleman, distributor or store brand) A brand created and owned by a reseller of a product or service

licensed brand

A product or service using a brand name offered by the brand owner to the licensee for an agreed fee or royalty.

Co-branding

The practice of using cite established brand names of two different companies on the same product

Brand Strategy

line extension

Using a successful brand name to introduce additional items in a given product category under the same brand name, such as name, flavors, forms, colors, added ingredients or package sizes.

Brand extension

Using u successful brand name to launch a new or modified produce in a new category.

Multi branding

A strategy under a seller develops two or more brands in the same product category.

range branding

A brand strategy whereby the firm develops separate product range names far different families of product.

Corporate branding

A brand strategy whereby the firm makes its company name the dominant brand identity across alt of its products.

Brand Repositioning

However well a brand is initially positioned in a market, the company may have to reposition it later, A competitor may launch a brand position next to the company’s brand and cut into its market share. Or customer wants may shift, leaving the company’s brand with less demand. Marketers should consider repositioning existing brands before introducing new ones. In this way, they can build on existing brand recognition and consumer loyalty.

Nepoleon Prabakaran Education, Management, marketing, mba

Branding

What is Branding?

Branding is the process of building and shaping a brand in the minds of consumers to give a meaning to a specific organization, company, products, or services.

What is a Brand?

A name, term, sign, symbol or design, or a combination of these, used to identify the goods or services of one seller or group of sellers and to differentiate them from chose of competitors.

branding

Four levels of Branding

attributes

A brand first brings to mind certain product attributes. For example, Mercedes suggests such attributes as ‘well engineered’, ‘well built’, ‘durable’, ‘high prestige’, ‘fast’, ‘expensive’ and ‘high resale value’.

Benefits

Customers do not buy attributes, they buy benefits. Therefore, attributes must be translated into functional and emotional benefits. For example, the attribute ‘durable’ could translate into the functional benefit, ‘I won’t have to buy a new car every few years.’ The attribute ‘expensive’ might translate into the emotional benefit, ‘The car makes me feel important and admired.’

values

A brand also says something about the buyers’ values. Thus Mercedes buyers value high performance, safety and prestige. A brand marketer must identify the specific groups of car buyers whose values coincide with the delivered benefit package.

personality

A brand also projects a personality. Motivation researchers sometimes ask, ‘If this brand were a person, what kind of person would it be?’ Consumers might visualize a Mercedes automobile as being a wealthy, middle-aged business executive. The brand will attract people whose actual or desired self-images match the brand’s image.

Brand Equity

The value of a brand, based on the extent to which it has high brand loyalty, name awareness, perceived quality, strong brand associations, and other assets such as patents, trademarks and channel relationships.

Brand Equity