What is a BRAND? In order to find a Job, the first thing you do is build a CV. What does the CV represent? It represents an image of you, a perception, a promise that will be fulfilled once you are hired. This is your brand! Abrand is a perception that the customers have about your product or service. Itis an emotional and psychological bonding between your customer and your brand. trademark is a brand name that is legally CCl, differentiated from all the other brands. For Example: Coca Cola is a trademark. STM en rey nan oo@® There are two terms sometimes alternately used to talk about a brand: Brand image and Brand experience. In marketing terms, they have two distinct meanings. Brand Experience is the sum total of all contact points with the brand. For example: Advertisements, Buying, Using, Longevity, etc. Brand Image is a virtual construct of a brand inside the minds of the customer; it is the sum total of all the expectations that a customer has about the brand. DU rrr ma) E YOUDO jOUR PEOPLE AND SAY PRAN® ° FEEL VAP ea esdeB gy Different brand elements that make a brand: amazon —7 v Name ¥ Colour Y Logo Y Sound Y Theme Y Movement Y Shape Y Smell Y Graphics Y Taste Example ‘Amazon has been one of the most valuable brands in the recent years because it has maintained its core brand values - ease of use, speed, agility- even while diversifying. Closer home, Reliance Jio in just 4 years has created an enviable brand image that is rooted deeply in India, celebrating its vibrancy, diversity and happiness, VAP ea esdBRAND VALUE @ Brand value, is the financial worth of the brand. To determine brand value, businesses need to estimate how much the brand is worth inthe market - in other words, how much would someone pay for your brand name. We can also define it as- The difference between what a customer pays for getting the branded product, ie. from the brand point of view, and a similar product without a revered brand name. The main steps for creating brand value are: Identify what is important Know your customers and competitors Decide what you stand for Stay consistent VAP ea esdBrand value vs Brand Equity: There is often a confusion between both these terms. The following table explains the difference between both the term: Basis for Comparison Brand Equity Brand Value Brand Equity is the worth of the brand that a firm earns through consumer, Brand Value is the economic worth of the brand, wherein Meaning corscousessofthenrand te ustomersarereadly wing pay more fora name ofthe specie produ instead of the productitsel, rans. toget the Product ‘tide and Wilingess ofthe Net presentvalue of What ist? consumer towards the brand, forecasted cash flows Pradict and Senice Quay, Chanel lone, Ladi or Availability, Price and Pevormance Advertsing. te Indicates ‘Success of the brand Presa een vals of the brand. VAP ea icraThe Brand Value Chain arktng Value Progam o“ aret Sharebee value Stages I—} rind |) Perfomance |_| Product Awareness Pie Premium Stock Pies Communication | Assoctations Price Bstcties | P/E rato Trade Attitude broitabiy Hashot lastcites Program Quality (Invest Sntinen City Competitive reaction Growth Potent Consistency Customer sie & Channel Markt dynamics Brand value creation begins when the firm targets actual or potential customers by investing in a marketing program to develop the brand, including product research, development, and design; trade or intermediary support; and marketing communications. Based on the initial efforts put in, the firm tries to assess- customers’ mindsets, buying behaviour, and response to price which is subject to change as a result of the marketing program. VAP ea esd