MARKETING MANAGEMENT

UNIT 3
DEFINITION OF BRAND AND ITS SELECTION

Brand may be defined as a name, symbol, design, logo, words,

slogan that is used to create the image of the products in the
minds of customers in order to identify from competitors.
With the passage of time this image becomes associated with
the minds of the customers .It is associated with a level of
quality, satisfaction, credibility in the customer’s mind. It is an
emotional association.
Branding helps to identify a product and distinguish it from
other products .Branding is important as it not only makes
memorable impressions on consumers but allows to know what
they expect from the company.
IMPORTANCE OF BRANDING
A brand is a promise, either fulfilled or unfulfilled. It not only
exists on the web site or signboards but exists in the minds of
the customers.
In modern time customers have innumerable choices of
products. Customers are spoiled for choices. This clutter creates
a kind of confusion in the minds of customers. Amidst the
clutter of products with similar quality and benefits , branding
helps a customer find the right product. The unique benefits
and value that a brand provides distinctly separate one brand
from other brands in the customer’s minds.
It helps in building a bond between the customer and the
product and services. In the long run , this helps in creating a
huge loyal customer base.
Branding helps the customer in making comparative analysis of
the products and services on offers, reducing the risk of making
wrong choice .
Branding increases business value. A strongly established brand
can increase a business’s value by giving the company more
leverage in the industry. This makes it a more appealing
investment opportunity because of its more firmly established
place in the marketplace.
It improves employee pride and satisfaction.—When an
employee works for a strongly branded company and truly
stands behind the brand , they will be more satisfied with their
job and have a higher degree of pride in the work they do .
Creates trust within the marketplace—A professional
appearance and well- strategized branding will help the
company build trust with customers , potential clients ,and
customers.
Branding supports advertising—outstanding branding make it
easy to create a cohesive and appealing advertising strategy .

SELECTION OF BRAND NAME---selecting a brand name is one of

the most important product decisions a seller makes. A brand
name reflects the overall brand image, positioning and its
benefits. A successful brand name can enable a product to be
meaningfully advertised and distinguished from competitors ,
tracked down by customers and given legal protection .
Brand provides the carryover effect of the products also in the
minds of the customers, it is associated with the quality of the
products, so the naming should be done carefully. The name
must correspond to the features and attributes of the products.
Legally protectable brand names are mandatory . In order to
avoid the risks and potential expenses associated with the legal
challenges to a brand name , a systematic approach must be
followed.
This is one of key decisions when bringing a new product to
market .There are two approaches to brand name selection.
A) The first approach is to have a name that is reflective of
the attributes of the products or its benefits.This is quite
effective in case of the new brand as it gives a clear view
 regarding the products feature in the minds of the
customers.
For example—
Pizza Hut
Vitamin Water
Pepsi-cola
Kentucky Fried Chicken
Spray and wipe
B) DISTINCTIVE OR UNUSUAL BRAND NAME—This is a
common approach to stand in the marketplace,
particularly on the internet, and is often pursued a larger
companies who have the capacity and resources to build a
strong clear brands .One of the more advantages with this
approach is that it catches the attention of the buyers by
its unusual name.
For ex—
McDonnald’s
Apple
Walmart
J.P.Morgan
PRINCIPLES OF BRAND NAME SELECTION—
1) Distinctive—It must be clear and different to other
brands on the markets and must be recognizable as a
brand name.
2) Easy to recall—Brand name should be quite simple and
easy to remember
3) Avoid confusion—The name must be such that there is

no confusion in its features.