Game with a Brand Name

(Written by Dr. Gourav Malik,  M.com, M.B.A, Ph.D)

It’s all in a Brand Name
Introduction
Brand is the name, terms sign, symbol or design or combination of which identify the goods and differentiation them from the competitors. Branding is all about creating “differentiation”. In the rapid growth of the global market place, companies should choose brand name that work globally. These names should be meaningful and pronounceable in other language. Companies also should not change name owned by someone in another country. Brands are assets of a company, it also convey a warranty of quality and must be communicative. Strong brand help a company to maintain the market share and develop brand equity. To build a strong brand for their product, personnel refer to, as brand or product managers are responsible for management decision such as long-term business strategy, pricing, product development, direction and in some case, profit and loss responsibility. Brand is considered to be the promise of the value one receives. Brand once create and sustained guide the fortune of its promoters and all others who are directly or indirectly responsible for rupturing a particular brand. Success of brand lies in its “appeal” or “connectivity”. Its an identity of a business and establish a customer relationship. Branding is the art and cornerstone of marketing. Brands identify goods and services of sellers and differentiate them from those of the competitors. Some of the leading brands are:  Godrej FMCG* products, Home Appliances.  Britannia FMCG* products.  Nike T-shirts, shoes.  Coca-cola FMCG* product (Thumsup, Limca, etc.).  Pepsi FMCG* product (Miranda, Pepsi, etc.)  Tata FMCG* product, Home Appliances, Automobiles.  Titan Watches  Sony Computers, Electronic product  IBM Computers  Maruti Home Appliances, Automobiles  Vide cone Home Appliances, Electronic Product  Etc. * (FMCG  Fast moving consumable goods)
Dr Gourav Malik , 0- 9810835104

It is not just confined to a product; a nation can be a brand too Example

France
That is identify with

Wine,
And

Switzerland
That is identify with

Watch
In the recent market sanerio, service sector industry plays a key role. Some of the well knows service sector are        Bank Insurance Agencies Advertising Agencies Security Agencies Television channels News Paper Etc. (I.C.I.C.I, H.D.F.C, P.N.B, B.O.B, S.B.I, etc.) (LIC, GIC, etc.) (Group 4, etc.) (Sony, zee, star plus, etc.) (Times of India, Economics Times, Hindustan Times)

One of the leading service sectors which are growing now a days in a very raid way is mobile services. The major leading companies are             Modicom Spice Escotel Tata RPG Idea Airtel Siemens Essar BPL HUTCH Etc.

They all are operators have a similar product with a different brand name but have almost same tariffs, same value added service. The firms need people with knowledge in a area of branding, marketing research, continues relationship marketing, pricing strategy and business to business marketing.

Dr Gourav Malik , 0- 9810835104

Importance of a brand
Later years the business survives on the basis of strength of its product not on brand based. Product is directly depending upon the customers most product were unbranded. Brands have risen in the ranking system ordered according to status of value generating assets. Differentiates an excellent performer from others i.e. former have brands, while other may simply be good products. Today, branding is such a strong force that hardly anything goes unbranded. Now a days financial services companies are spending millions on their brand name in order to attract customers. The company are increasing their advertisement budget for strengthen their brand equity. Therefore price of branded product are on the higher side. A retail store brand is a name of chain that is used as the exclusive label on most of the items in stores. Distributors and retailers want brand names because brands make the product easier to handle, hold production to certain quality standards, strengthen buyer preferences and make it easier to identify suppliers. Different types of brand have different impact on profit.

Brand Management
It’s an organization system where personnel are responsible for all marketing strategies, activities associated with a brand or products. It also revolves creating and encourage the development of a successful brand or set of brand with a view to improve the quality of its image competitive environment / nonenvironmental variables. The brand name needs to be carefully managed or improve the brand awareness. This requires continuous R & D investment to bring out new brands, line extension, features, quality improvement, multi-brands, skillful advertisement, excellent network and consumer service. Brand manager category is found in a variety of industries that produce different goods, which include foods items. Soaps Soft drinks Tobacco Drugs Cosmetics Liquor Etc.

      

Moreover the well-known service sector organizations also require brand managers.

Dr Gourav Malik , 0- 9810835104

Forecasting of Brand
It is not keeping track of sales trend of one’s product, but anticipating responses to marketing campaigns and product, but be aware of and take action in response to marketing campaigns and product launches or charges. It is also used to determine production levels. Therefore managers decide how to increase the market share, market and the study of the structure of human populations using group wise statistics relating to birth, death, wealth, disease, etc to be targeted and the type of advertising and special promotion to use.

Brand Manager
Brand managers are building blocks on which business is based. Brand manager is the one who has a mission to transform customers live. Brand managers must combine both soft and hard skills combination of left and right brain. Branding grapes a part of the “mind share” of the customer. It develops into customer’s emotional depth within the boundary of rationality. Now a day every company have a brand managers, their responsibility is toward brand establishment of the company. Even brand manager, product manager, marketing manager, manager publicity are often used to describe the some function. Marketing is an evergreen option. It is usually the brand managers who go on a head organization. The options available in the field are advertising, Public relations, Market research companies are corporate. Public relation executives write a public releases to local and national publications and develop ideas that increase their brand recognition. Brand manager are concerned with market research, market development, packaging, manufacturing, sales, distribution, communication, business analysis and forecasting.

A GOOD BRANDS IS GOOD PRODUCT A GOOD PRODUCT MAY NOT BE A GOOD BRAND. MAKING A PRODUCT IS EASIER MAKING A BRAND IS NOT EASIER
Marketing Management, The Millennium Edition, Publisher prentice Hall of India Private Limited, New Delhi. (Edition 2001) by Philip Kotler. Management organization, “ Function of Management” by Ahuja, Chapter 2
Dr Gourav Malik , 0- 9810835104


References: 1. 2.

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