BRANDING – Necessity for

MSME

Presented by

M.SIVASUBRAMANIAN

Meaning of Branding

Brands are a means of differentiating a company’s products and services from those of its competitors.

A brand is not:

• a product• a company• a logo

:

A Brand is

• a promise • an

experience• a

relationship

Definition of Branding “A brand is a name, term, sign,

symbol, or design, or a combination of these that identifies the maker or seller of a product or services.”

-Phillip Kotler

Need for BRANDINGTo convey that you are established.To attract more clients.To increase your credibility.To be more memorable.To stand out in your field.To give clients a sense of stability.

Benefits of BrandingMemorability Loyalty. Familiarity. Premium price. Creation of Goodwill Lower marketing expenses. For consumers, less risk.

An Effective Brand Name

Is easy to pronounce

Is easy to recognize and remember

Is short, distinctive, and unique

Has a positive connotation

Reinforces the product image

Is legally protectable

Types of Brand There are two main types of brand – manufacturer brands and own-label brands.Manufacturer brands

Private label brand

Examples

ColgateColgate ProtectionProtection

LuxLux GlamourGlamour

AxeAxe Sexual AttractionSexual Attraction

GilletteGillette QualityQuality

Why Is It Necessary?

CompetitionDifferentiationEnables decision-making by prospective consumerPricing

MSMEMicro Medium Small Enterprise

Why Branding is Necessity for MSME

For a business to flourish, it is more than necessary to have a reputation in the market Reputation calls for publicity and a BRAND is one of the most critical tools for this purpose

Why Branding is Necessity for MSME

Besides your product or services, it is your BRAND that leaves an imprint on people’s minds and touches their heartsAn expressive BRAND makes people turn their heads and open their eyes.

MSME A small business, even a sole proprietorship, cannot survive without branding. The idea that the brand must be just a website or logo is incorrect. The brand can be the business name, or, in the case of a sole proprietor, even the name of the owner

MacDonaldHave you ever wondered that the ‘M’ for MacDonald is displayed individually at prominent places and everyone easily identifies it!

MacDonaldPeople relate the big Yellow M with MacDonald’s burgers as soon as they see it anywhere.

ConclusionEffective branding and value creation continue to represent the cornerstone of every successful company. In today’s increasingly competitive marketplace for services, retaining a customer’s loyalty is critical. This puts more emphasis on the need for effective total brand management.

Reference• http://www.businesslink.gov.uk• http://www.powerbandgraphics.com• www.authorstream.com• Marketing management – Philip

Kotler