Brand.

American Marketing Association

• A name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers.

What Is a Brand?

• Philip Kotler and Gary Armstrong:• A brand is defined as ‘a name, term, sign symbol

or a combination of these, that identifies the maker or seller of the product’

David Ogilvy:

• “the intangible sum of a product’s attributes: its name, packaging, and price, its history, its reputation, and the way it’s advertised.”

BRAND• A brand is any label that carries meaning and

associations. A great brand does more: It lends coloration and resonance to a product or service.

Brand management

• Tangible elements• Intangible elements

Why Brand?

• To differentiate itself from its competitors. • Customers often build up a relationship with a

brand that they trust and will regularly purchase products from that brand.

• To evaluate the identical products differently• To organize inventory and accounting records• Offers the firm legal protection

Possible to brand:• A physical good• A service• A store• A person • A place• An organisation

A brand is a complex symbol. It can convey up to six levels of meaning.

• Attributes: The brand and the product for which it is the symbol that have attributes. A brand has to convey its attributes.

• Benefits: Customers buy a brand or product for benefits and not for its attributes. A brand has convey meaning in terms of benefits.

• Values: The brand also says something about the producer's values.

• Culture: The brand may represent a certain culture.• Personality: The brand can also project a certain personality.• User: The brand suggests the kind of consumer who buys or

uses the product

Brand management

• Brand management is a communication function that includes analysis and planning on how that brand is positioned in the market, which target public the brand is targeted at, and maintaining a desired reputation of the brand.

Brand Equity

• Added value endowed on products and services• Does not develop instantaneously

Brand Equity

• The value of a brand. • Carefully nurtured and marketed

consumers feel real value and trust towards that brand.

Brand elements• Trade mark able devices that identify and

differentiate the brand• Provide positive contribution to brand equity

Brand Elements Choice Criteria• Memorable • Meaningful• Likable• Transferable• Adaptable • Protectable

DEVISING A BRANDING STRATEGY• While introducing a new product:Develop new brand elements for the new productsApply some of its existing brand elementsUse a combination of new and existing brand

elements

• Brand Extension : when a firm uses an established brand to introduce a new product.

• MARUTHI SWIFT AUTOMOBILE, ICICI PRUDENTIAL LIFE INSURANCE

• Line extension: parent brand covers a new product within a product category it currently serves with new flavors ,colors ,forms etc

• LIFEBUOY CARE,LIFEBUOY NATURE ,LIFEBUOY TOTAL• Category extension: the parent brand is used to

enter a different product category from the one it currently serves

• HONDA AUTOMOBILES ,MOTOR CYCLES,LAWN MOVERS,MARINE ENGINES

BRANDING DECISIONS• Individual names• Blanket family names• Separate family names for all products• Corporate name combined with individual product

names.

Individual names

• Several individual brands in several product categories

EG : PROCTER & GAMBLE

Blanket family names

• Companies use blanket family names in diverse product categories.

• Lower development costs

Separate family names for all products

• Separate family names for various products of the company

Corporate name combined with individual product names.

• Combination of corporate name and individual name

Marketing Advantages Of Strong Brands• Improved perception of product performance• Greater loyalty• Less vulnerability to competitive marketing actions• Less vulnerability to marketing crisis• Larger margins• More inelastic consumer responses to price decreases• More inelastic consumer responses to price increases• Greater trade cooperation and support• Possible licensing opportunities• Additional brand extension opportunities• Increased marketing communication effectiveness