Branding

Branding is used To create emotional attachment to products and companies. To create a feeling of involvement To have a sense of higher quality To have an aura of intangible qualities that surround the brand name, mark, or symbol

Brand
It is a name, term, sign, symbol, design, or some combination that identifies the products of a firm The Meaning of Brands Means of differentiating a companys products and services from those of its competitors. Customers will pay a substantial price premium for a good brand and remain loyal to that brand. It is important, therefore, to understand what brands are and why they are important.

A Brand is a ..
Name, Term, Sign, Symbol, or Design intended to distinguish the goods and services from one another

What is Branding?
Branding is the business process of managing the trademark portfolio so as to maximize the value of the experiences associated with it, to the benefit of the key stakeholders

key stakeholders
employees customers stock/share holders suppliers intermediaries opinion leaders local communities purchasers and licensees

Brand consisting of four levels

Generic (Car Transportation) Expected (Customer satisfaction) Augmented (Reinforcement) Potential (Nestle, software for retailers)

Brand The three Cs

The three Cs are: Clarity, Consistency, and Constancy. Does the brand pass the Three C Test?

Clarity
Strong brands are clear about what they are and what they are not. They understand their unique promise of value. This promise of value sets them apart from their competitors. Volvo, for example, They are clear about their commitment to safety and security. They build cars for families. Cars that are safe. They clearly focus their communication activities on this differentiation.

Consistency
In addition to being clear about who they are, strong brands are also consistent. They are always what they say they are. For example Volvo They are always about safety. They dont change their focus from model to model. When new editions come out each year, they are safe too. Volvo consistently communicates that.

Constancy
It is not enough to be clear and consistent if you are not always visible to your target audience. Strong brands are constant; They are always there for their customers and prospects. They dont go into hiding. For Coke, the world is the target market. That is why we cant make it through a day without being exposed to their bright red colour or familiar script logo. Coke is a constant in our lives. And Coke is one of the worlds strongest brand

The Concept of Perception

Sony the brand name could usher in images of quality and innovation in the mind of a person who has never used any product of the brand. Raymond is the fabric for the complete man Allen Solly is the designer wear for corporate executives who prefer an aura of casualness in their corporate setting. Pepsi could be associated with the fun and frolic moments of the younger generation.

Perception
Perception: A major psychological factor that influences consumer behavior is perception. Perception can be described as how we see the world around us. All the time we are receiving messages through our five organs viz.., eyes, ears, nose, mouth and skin. The different sights, sounds, smells, tastes and sensations that we feel are known as stimuli. Each person recognizes, selects, organizes and interprets these stimuli in his own individual manner based in his needs, values and expectations and this is known as perception. Since each individuals needs, motive and expectations are unique therefore each individuals perception is unique.

Three Aspects Of Perception

Selective exposure: People are more likely to notice stimuli, which relate to their immediate needs. Selective Distortion: When one attempt to fit information to suit ones ideas or personal meaning, the process is known as selective distortion. Selective retention: People forget much of the stimuli which they receive and only retain that information which reinforces their clause and decision.

Learning
Learning refers to the skill and knowledge gained from past experience that we apply to evaluate future decisions and situations. A marketer can build up demand for his brand by associating it with strong motives, using the appropriate stimuli and cues and providing positive reinforcement. Thus making the consumer learn that the brand is good and worth patronizing.

Principles of Proximity
The principle of proximity could be used as a part of a brand image development. This involves associating visuals which are appropriate to t he positioning of the brand with the brand name. ITCs Classic brand of cigarette, a brand positioned to the upper strata of smoker, is associated with the game polo, which has an upmarket image. The product form (sachets) and the display of these sachets in millions of small outlets (including rural areas) have radically altered the perception of consumers of the product category

Brand - Customer Relationship

It is critical to be consistent across the entire company and convey the same brand message and experience. The Brand-Customer Relationship becomes - if properly done - part of the goodwill and core competency that a brand can leverage in gaining and maintaining customer trust and business Customer service, and the relationship a company has with a customer, is indeed part of the brand

Activity
Name any Five BRANDS A.Toothpaste B.Car C.Watch D.Hotel

Successful Brand-Customer Relationship

Develop a compelling brand identity and customer value proposition Rely on customer perspective, and have the ability to listen and respond appropriately to evolve companys offerings to meet customers needs and desires. The organization must be aligned in ways that anticipate and fulfill customers emotional expectations at every touch point to create meaningful relationships and lasting competitive advantage.

Steps in Building A Strong Brand

1. Start with a Quality Product. 2. Identify Brands Singular Distinction, Define the Message, and Position the Brand Properly in the Market. Own a Word or Phrase (Nike owns Just do it.) 3. Tap into Emotion.

Steps in Building A Strong Brand

4. Build the image. 5. Market the image

6. Live the message.

7. Measure the Brand Equity Against the Competition and Continue to Build and Refine the Brand.

1st Real Fruit Juice Mixology workshop

Advertising does help in building brand recall, but advertising alone does not sustain a brand

Brand Name Decisions

Individual Brand Names (Coca Cola, Fanta) A blanket family Name for all products (Tata) Separate family name for all Products (SEARS)
Kenmore for Appliance Craftsman for Tools Homeart for Home Installations

Company Name with Individual Brand Names (Wills)

Wills Filter Wills Menthol

Brand Name - Qualities

Suggest product benefits Suggest product features Easy to recognise It should be distinctive Should not carry a poor meaning (NOVA)

Brand Extension
Existing successful brand name to launch another product Honda
Automobile Snow blowers Lawn movers Marine Engines

Brand Equity
Assets associated with a Brand
It adds to value provided to the customers It is the aggregate of customer beliefs that the product will deliver the promise

Assets of the Brand

1.Brand Awareness
2.Brand Loyalty 3.Brand Associations 4.Perceived Quality