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Submitted to: PROF.VAISHALI

Compiled by (SYBMS)

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ACKNOWLEDGEMENT

This project has been a result of the hard

work of many people. We would like toappreciate them for the valuable support

they have offered.

First, We would also like to thank the coordinator

of the BMS departmen Mrs. Angira.N

And we would sincerely like to thank Prof.

VAISHALI , our project guide for making this project

a great learning experience and for her continuous

guidance, which has brought the best out of us and

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enriched this project.

We are thankful to all the faculty members of

our college for their guidance and support. Last but

not the least we would like to thank our family and

friends for their patience, support and

perseverance.

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INDEX

SR.NO TOPICS PAGE NO.

1 EXECUTIVE SUMMARY

2 INTRODUCTION

3 VARIOUS STAGES OF PLANNING

4 CHARACTERISTICS OF GOODBRAND NAME

5 ADVANTAGE TO MARKETERAND CUSTOMER

6 CLASSIC BRAND CONCEPT

7 BRAND VALUATION

8 CREATING POWERFUL BRANDWEBSITES

9 BRAND PERSONALITY

10 CONCLUSION

11 BIBLIOGRAPHY

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EXECUTIVE SUMMARYIn this project we are dealing with the topic of

branding which is of utmost importance in marketing

and advantageous to the organizations as to

differentiate their products from that of competitors

and for which branding is very most important

component.

It not only helps the organizations but also the

customers as they become loyal to a particular brandand branding brings satisfaction in them towards a

particular product.

In our project we have covered various topics and

keeping into consideration various aspects of branding

as to how important it is to have good brand name for

the product and the ways it is advantageous to the

marketers and consumer.

We have also included different stages involved forplanning for a product and then concepts like brand

valuation, brand personality, brand equity, and brand

concept are also included.

Nowadays as online marketing is becoming popular, we

have also included a topic as to create powerful

websites that can benefit the organizations to attract

customers online.

As such in short we have covered all topics related to

branding and ways it get benefit in different areas to

organizations and consumers.

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INTRODUCTION

A brand is a construct and not a living and breathing

organism. Brands are created, stimulated and applied by

people working in organization seeking to create worthwhile

experiences for their customers that will induce behavior

beneficial to the organization.

One of the most important decisions that a marketer has to

take in the area of 'product' is in respect of branding.

The process of giving name, symbol or sign to a product is

branding. It is creating a corporate brand identity for

consumer and getting that brand identity imprinted on the

minds of the consumer and this brand positioning and brand

management as per the view of different authors it has

different meaning such as follows

Your brands power lies in dominance. It is better to have 50%

of one market, instead of 10% of five markets.

Your brand image is primarily an emotional construct. Emotion

is probably always more powerful in swaying people than

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reason. But people like to be able to rationalize their choices.

THE VARIOUS STAGES OF

STRATEGIC PLANNING FOR ABRAND

1)Business strategy

The strategic planning for a brand starts with an

understanding of an organizations business strategy. The

business strategizing is not only meant for business world but

also for not profit organizations specially those who depend ondonations business strategy is aimed at achieving particular

consumer behavior. Brands are designed to persuade

consumers to exhibit the behavior that will make these

objectives come true for organization. Thus the influence of

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business strategy upon brand strategy is direct and

compelling.

2)Brand expression

It is task of brand management to translate the business

strategy into a business expression. It contains the materials

with which brand managers are able to shape their brand. It is

imperative to obtain a good understanding of ones

ammunition to get complete view of all the elements of the

brand expression, then choosing which to use and emphasize

the brand manifestations and important to realize that these

manifestations do not consist odd advertising and promotionbut encompass full experience that consumers have of the

brand.

3)Marketing mix

It in turn aims to translate the brand expression into actual

products or services with a specific price to be sold at specific

outlets to be promoted through specific communication

activities and channels and to be supported by a specificservice. Marketing implementation eventually determines

whether consumers experience what brand strategy sets out

to provide and this implementation may make or break a

brand at the moment that is of importance to consumers.

4)Strategies for global brands

It is aimed at influencing peoples perception of a brand in

such a way that they are persuaded to act in such a way that

they are persuaded to act in a certain manner e.g.-buy and

use the products and services offered by the brand, donate to

a cause. Global brand needs to provide relevant meaning and

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experience to people across multiple societies answer as

branding is typically an activity that is undertaken in a

competitive environment the aim is also to persuade people

to prefer the brand to competition.

5) Brand recognition

The brand recognition specialist distinguishes themselves

from competition by raising their profiles among consumers.

they either convinces consumers that it is somehow different

from competitors as in the case of niche brands or rise higher

among consumers than competitors. They have to create high

level of awareness among consumers of their product and

convince them that they are unique.

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CHARACTERISTIC OF A GOODBRAND NAMEChoosing the right brand name is very important and not an easy

decision as once a brand name is chosen and product is launched in

the market then it is very difficult to change. So getting it right at

first time is very essential and following are some of

considerations:-

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Brand name should be short, easy to pronounce, spell,

recognize and remember

Brand should suggest products benefits and qualities

Brand name should be distinctive

Brand name should be adaptable to packing or labeling

requirements

It should be adaptable to different advertising media and

languages

Chosen name should have staying power and not get out of

date

Advantages to the marketers

1) Enables marking product differentiation

Branding helps the firm to distinguish its products from that of

competitors and enables to secure and control market for its

product.

2) Helps in advertising and displayprogramme

Brand helps in advertising and display programme which is

not possible without a brand name and advertiser could

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create awareness of only generic product and not be sure of

the sale of his product.

3) Differential pricing

It helps to charge different price than that of competitors and

its possible that if customers like the product and get in habit

they dont mind paying higher for the product.

Advantages to customer

1) Helps in product identification

It helps the customers to identify the product and once

consumer is satisfied then he may not keep close

inspection every time buys the product

2) Ensures quality

Branding ensures particular level of quality of the product and

any deviation can recourse to the manufacturer and thisbuilds up confidence of customers and level of satisfaction.

3) Status symbol

Some brands become status symbol because of their quality andconsumers of that product feel proud of using them and add tolevel of satisfaction of the customers.

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CLASSIC BRAND CONCEPT

Brand extension

Brand extension strategies are widely employed because of

beliefs that they built and communicate strong brand

positioning, enhance awareness and increase profitability.

Brands are often extended beyond their original categories to

reduce their cost and risk of entering new product category

and research has proved that success of brand extension

depends on the transfer of parent brand awareness and

association to the extension. Brand extension can comprise of

following areas that is new product, customer, format,

channel, business, migration and recycling.

Horizontal extension

These apply or extend the existing product's name to a new

product in the same product class or to a product categorynew to the company and there are two types of horizontal

brand extension and that is line and franchise. line extension

involve current brand name that is used to enter new market

segment in its product class and franchise extension uses the

current brand name to enter a product category new to the

company.

Vertical extension

In this case a related brand is introduced in the same category

but with different price and quality balance. The new products

can extend vertically in two directions upscale and downward.

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Upscale involves high price and quality characteristics than

original and carries lesser risk and seems more appealing to

the management and functional products are ruled out in this

case.

Downscale is more successful in functional products such as

stripped down version of computer software at a lower price

and new product is inferior to the earlier product but the

quality price is appropriate.

BRAND VALUATION

Recognition of the economic value of brands has increased.

The demand for effective management of the brand asset as

traditional purely research based measurements proved

insufficient for understanding and managing the economic

value of brands. Companies have adopted brand valuation as

a brand management tool. Brand management helps them

establish value based systems for brand management.

Economic value creation becomes the focus of brand

management and all brand management related decisions.

Companies as diverse as - IBM AMERICAN EXPRESS AND

SAMSUNG ELECTRONICS ACCENTURE UNITED WAY OF

AMERICA AND FUJITSU AND DUKE ENERGY.

Have used brand valuation to help them refocus their

business on their brands and to create an economic rationale

for branding decisions and investments. Many companies

have made brand value creation part of the remuneration

criteria for senior marketing executives for making decisions

on business investments for e.g. capital allocation and return

requirements.

Making decisions on brand investments, turning the marketing

department from a cost center into a profit center by

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connecting brand investments and brand returns.

Allocating marketing expenditures according to the benefit

each business unit derives from the brand asset.

Organizing and optimizing the use of different brands in the

business for e.g. corporate, product and subsidiary brands

accordingly to their respective economic value contribution,

deciding the appropriate branding after a merger accordingly

to a clear economic rational.

Establishing brand value scorecards based on the

understanding of the drivers of brand value that provide

focused and actionable measures for optimal brand

performance. Communicating where appropriate the

economic value creation of the brand to the capital markets in

order to support share prices and obtain funding.

CREATING POWERFUL BRAND

WEBSITES1) CONTENT FIRST AND TECH NEXT

It is not always not necessary to have a high tech effect on

site visitors as many users are not technology friendly and

may not be very happy about the online brand experience and

they would consider using internet with normal basics more

easily than hi tech level versions.

2) Emphasize differentiations

Brands website need to drive this differentiation home to build

on this which is the basis of consumer brand relationship. it is

integral to the brands DNA that everything it represents

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should has to reflect him different from the other brand

whether price or image.

3) Ensure that the site reflects the brandsvalues

Every brand has a unique set of values that form its very

essence. Knowing the brands value and direction of its

character is important to anyone who wants to maintain

relationship with the brand and website gives an opportunity

to visitors to understand the brand.

4) Information about the brand

Many site visitors visit brand sites to know about the brand, its

antecedents, vision .It is also very important to have an about

us section as it indicates transparency. It provides with detail

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information to visitors and help to gain confidence regarding

the brand.

5) Education on brand selection

Consumers visit sites to get information in order to

understand whether the product is relevant or not and

consumers need to be educated on the different categories of

the product that can serve their needs in the context in which

they are planning to use the brand . Brand can lose out in sale

by providing all information about the requirements but can

gain appreciation and in time bring more sales.

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BRAND PERSONALITY

BRAND PERSONALITY

Advertisers and marketing practitioners have been the first one

to coin the term brand personality. Later on research side the

brand identity frameworks always quoted brand personality as a

dimension or a facet of brand identity namely those traits of

human personality that can be attributed to the brand.

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Among other dimensions are the brand inner values .the brand

relationship facet and the brand reflected consumer facet and

brand physical facet. In the process of building a scale for

measurement purposes defines brand personality not as a partbut as the whole the set of human characteristics associated to a

brand however inner values, physical traits ad picture of the

typical users are also human characteristics that can be

associated with a brand.

CONCLUSION

Hence, branding is very important to be known because it

brings identity to a product.

It helps organizations to differentiate their product andcustomers to be loyal to a brand with confidence and

satisfaction. It also develops understanding, trust, and

satisfaction in relation of organization and consumer.

Branding plays a very important role in marketing as product

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can be only known when it is given its name, an identity

proving to be unique.

Hence, the conclusion to the topic is that branding is verymost important in marketing helping organizations and

customers and to have a reputed brand name have also

become desire of the organizations. So, branding has to be

given very much importance in world of marketing.

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BIBLIOGRAPHY