a product.sign.MEANING A brand is the identity of a specific product. service. Brands exist in the consciousness of individuals and of the public. James R. or business. color combination or slogan. Leveraging the Corporate Brand . including a name. a company or an organization. A brand does not exist in the physical world it is a mental construct. DEFINITIONS A brand is not a thing. Gregory. A brand can best be described as the sum total of all human experiences. The word brand began simply as a way to tell one person's cattle from another by means of a hot iron stamp. A legally protected brand name is called a trademark. product or organization.symbol. A brand can take many forms. perceptions and feelings about a particular thing.

especially a competing product. y An adjunct is brand development. is the process of making products and companies into brands. then. In other words. the process of identifying and establishing the brand s essence and identity. It is used to distinguish one product. from another. . vendors. y Branding is the consistent and disciplined way we communicate a brand s essence to the public employees. customers. y Today's brand name works basically the same way.BRANDING y Branding. it is a mark used to show ownership. What is a Brand Name? y The practice of using a brand name is the evolution of the ancient custom of branding one's belongings. shareholders. pottery or livestock. it was designed to make it obvious which person or family owned specific items. Whether this meant making one's mark on clothing.

(For instance NOVA is a poor name for a car to be sold in Spanish country. because in Spanish it means doesn t go ).Swift. . (For instance-Tide) y It should give an idea about product s qualities and benefits (For instance. y It should not portray bad/wrong meanings in other categories. identified and memorized.Features of a Good Brand Name y It should be easy to pronounce. Lipguard). y It should be capable of legal protection and registration. Quickfix. y It should suggest product/service category (For instance Newsweek).

Process of Selecting a renowned and successful Brand Name Define the objectives finalize the brand name Generation of multiple names extensive international legal search Screening of names .

Benefits of a Branding ‡ Merits to manufactures : Merits to wholesalers and retailers ‡ Merits to consumers Merits to Manufacturers y Products get Individuality y Control of product prices y Increases Bargaining power y Reduces the advertising cost y Ever increasing demand y Powerful weapon of Product differentiation .

Merits to Wholesalers and retailers y Quicker sales y Easier advertisement and display of products y Increases Market share and control over market y Introduction of the new products rendered easier y Branded products have more stabilised prices y Economical ways of doing business Merits to the consumers y Brands stand for quality y Consumer Protection against cheating y Branded Products reflect their life styles y Steady and regular Supply of products .

. and they were high priced as compared to the HMT watches .Brand Success Brand success is the ability to retain a reasonable market redefinition Market redefinition consists of three categories: y Segment Redefinition y Product Redefinition y Category Redinition Segment redefinition Segment Redefinition is shifting of people from high price segment to low price segment and vice.versa Example: Titan watches were launched decades after the HMT watches. Large number of customers shifted to Titan watches because of better product quality.

Product Redefinition Product Redefinition is presenting the existing product in a changed version may be it s package or its form where some qualities are maintained but products become more appealing. Example HLL introduced Close up gel with ad masala . as a result Colgate lost its ground. Example: The scope of fixed and cordless telephone market is redefined by cellphones. when category gets redefined a product that was till now put to different uses becomes a competitor. Category Redefinition Category Redefinition is of product categories . .

y It can also be defined as the differential impact of brand knowledge on consumers response to the Brand Marketing.Brand Equity Meaning y Brand Equity is the value and strength of the Brand that decides its worth. It occurs when the consumer is familiar with the brand and holds some favourable positive strong and distinctive brand associations in the memory Measuring Brand Equity Cost based methods y Historical cost y Replacement cost y Market value method y Inter brand method . Brand Equity exists as a function of consumer choice in the market place. y The concept of Brand Equity comes into existence when consumer makes a choice of a product or a service.

Price based y Price premium y Equalisation price y Indifferent price Consumer based y Brand knowledge y Attribute rating y Blind test .

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