Assignment on,

BRAND AWARENESS

Date:

Lakshmi sj

3rd sem ,MFM

IIFT

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The American Marketing Association defines a Brand as a “Name, Term, Design, Symbol, Identity or any other
feature that identifies one Seller's Good or Service as distinct from those of other Sellers. The legal term for
Brand is Trademark Authority.

A Brand may identify One Item, A Family of Items, or all Items of that Seller. If used for the Firm as a Whole,
the Preferred Term is Trade Name.

The ultimate goal of most businesses is to increase sales and income. Ideally, want to attract new customers to your
products and encourage repeat purchases. Brand awareness refers the degree to which the customers and potential
customers are aware of the brand and its products. For example, within a week after its introduction, surveys found
that more than 90% of US consumers had heard about the iPhone as a result of advertising and news reports. This is
exceptionally high brand awareness. Ultimately, achieving successful brand awareness means that the brand is well
known and is easily recognizable. Brand awareness is crucial to differentiating your product from other similar
products of competitors.

Brand awareness

Brand awareness refers to customers' ability to recall and recognize the brand under different conditions and link
to the brand name, logo, and symbols and so on to certain associations in memory. It helps the customers to
understand to which product or service category the particular brand belongs and what products and services are
sold under the brand name. It also ensures that customers know which of their needs are satisfied by the brand
through its products. Brand awareness is of critical importance since customers will not consider your brand if
they are not aware of it.

The popularity or the recognition of the brand among potential customers is called brand awareness. Brand
awareness includes both brand recognition as well as brand recall. Brand recognitions the ability of consumer to
recognize prior knowledge of brand when they are asked questions about that brand or when they are shown that
specific brand, i.e., the consumers can clearly differentiate the brand as having being earlier noticed or heard.
While brand recall is the potential of customer to recover a brand from his memory when given the product
class/category, needs satisfied by that category or buying scenario as a signal. In other words, it refers that
consumers should correctly recover brand from the memory when given a clue or he can recall the specific brand
when the product category is mentioned. It is generally easier to recognize a brand rather than recall it from the
memory.

Types of Brand Awareness

Aided Awareness- This type of awareness is generated in a consumer. When asked about a product category, if
the consumer is aided with a list of company names and he recognises the company from the given set it is
categorized as aided awareness.

Top of the mind Awareness- When the name of the company is automatically recollected because the consumer
very promptly associates the brand with the product category, it is called a top of the mind awareness of the
product.[3]

IMPORTANCE

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 The more aware consumers are of your product and your brand, the more likely they are to buy from
you
 Brand awareness plays a major role in a consumer’s buying decision process. The knowledge of an
acquaintance or friend having used the product in the past or a high recognition of the product through constant
advertisements and associations coaxes the person to make his decision in the favor of the brand.
 The eventual goal of most businesses is to make profits and increase sales. Businesses intend to increase their
consumer pool and encourage repeat purchases.
 High brand awareness about a product suggests that the brand is easily recognizable and accepted by the market
in a way that the brand is differentiated from similar products and other competitors.
 Brand awareness also helps in improving brand loyalty.
 Building brand awareness is essential for building brand equity. It includes use of various renowned
channels of promotion such as advertising, word of mouth publicity, social media like blogs, sponsorships,
launching events, etc. To create brand awareness, it is important to create reliable brand image, slogans and
taglines. The brand message to be communicated should also be consistent. Strong brand awareness leads to
high sales and high market share. Brand awareness can be regarded as a means through which consumers
become acquainted and familiar with a brand and recognize that brand.

Tools for brand awareness

1. Advertising:-

Obviously advertising is an important way to have your brand and products become known to
consumers.

Advertising is defined as any form of paid communication or promotion for product, service and idea.

Advertising development involves a decision across five Ms Mission, Money, Message, Media and
Measurement.

Mission looks at setting objectives for advertising. The objectives could be to inform, persuade, remind or
reinforce. Objective has to follow the marketing strategy set by the company.

Money or budget decision for advertising should look at stage of product life cycle, market share and consumer
base, competition, advertising frequency and product substitutability.

Message’s development further is divided into four steps, message generation, message evaluation and
selection, message execution, and social responsibility review.

Once the message is decided the next step is finalizing the media for delivering the message. The choice of
depends on reach of media, frequency of transmission and potential impact on customer. Based on this choice
of media types are made from newspaper, television, direct mail, radio, magazine and the internet. After which
timing of broadcast of the message is essential as to grab attention of the target audience.

2. Public/press relation:-

Companies cannot survive in isolation they need to have a constant interaction with customers, employees and
different stakeholders. This servicing of relation is done by the public relation office. The major function of the

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public relation office is to handle press releases, support product publicity, create and maintain the corporate
image, handle matters with lawmakers, guide management with respect to public issues.

Companies are looking at ways to converge with functions of marketing and public relation in marketing public
relation. The direct responsibility of marketing public relation (MPR) is to support corporate and product
branding activities.

MPR is an efficient tool in building awareness by generating stories in media. Once the story is in circulation
MPR can establish credibility and create a sense of enigma among sales people as well as dealers to boost
enthusiasm. MPR is much more cost effective tool than other promotional activities.

3. Clubs/consumer communities

Trade shows

Event marketing

Public facilities

Social cause marketing

Sponsorships

Challenges

Maintaining Brand Awareness is a very important aspect in marketing a company. It is imperative and very
helpful to analyze the response of customers towards the change in packaging, advertising, products and
messages sent across through various means. Working towards creating an image in the minds of the consumers
is not the last thing a company should aim to do. Inviting consumer feedback and maintaining a constant
presence in the market is equally essential. Availability of the product to the consumer is one such way of doing
this. The consumer should not have to come looking for you when he is in need of making a second purchase of
the product, dealerships and outlets at convenient places should make the consumer think of the brand as the
most convenient and best solution to his need fulfillment.

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