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American Marketing Association defined brand as a name, term, sign,
symbol, or design, or a combination of them, intended to identify the
goods and services of one seller or group of sellers and to differentiate
them from those of competition.
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A brand markrefers to that part of brand which is not made up of words, but
can be a symbol or design such as swoosh mark of Nike, or Golden Arches of
McDonalds. A trademarkis a legal registration indicating the owners exclusive
right to use a brand or some part of brand. A trade name is the full and legal
name of a firm, such as Maruti Udyog Ltd., and not the specific name of a
product.
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Brand IdentityA unique set of brand associations that the brand strategist aspires to create or
maintain. These associations represent what the brand stands for and imply a
promise to customers from the organisation members. Brand identityand brand
image are sometimes used interchangeably in different texts. Brand identityrefers to an insiders concept reflecting brand managers decisions of what the
brand is all about. Brand image reflects the perceptions of outsiders, that is
customers, about the brand.
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According to Jean-Noel Kepferer, a brand is complex symbol and capable of
conveying up to six dimensions or meanings:
Physique
Personality
Culture
Relationship
Reflection
Self-Image
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Brand Equity
Kevin Lane Keller defines brand equity:
Brand equity is defined in terms of marketing effects uniquely attributed to
the brands for example, when certain outcomes result from the marketing
of a product or service because of its brand name that would not occur if the
same product or service did not have the name.
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Components of Brand Equity
Brand name
awareness
Brand
loyalty
Perceived
quality
Brand
associations
Brand
Equity
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Walfried Lasser. Banwari Mittal, and Arun Sharma identified five dimensions
of customer-based brand equity:
Performance
Social image
Value
Trustworthiness
Identification
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Brand Image
Brand image is the key concept intervening between the brand and its equity.
It is the driver of brand equity.
Types of brand associations can be hardand softand brand sub-images
consist of three elements:
image of provider,
image of product, and
image of user.
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Brand image management requires determining brand concept. This concept
embodies the central meaning of the brand that the company chooses and is
derived from basic consumer needs. The more strongly the brand satisfies
these needs, the more differentiated and strong the brand image customers
carry. These needs can be put under three broad groups.
Functional needs
Symbolic needs
Experiential needs
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Types of Brand
There are several brand options that include manufacturer brand (also called
national brand), private brand (also called distributor, reseller, store, or house
brand), or a licensed brand.
Manufacturer brands are initiated by manufacturers and identify the
producer.
Private brands is that they are resellers initiated brands.
Licensed brand is a relatively new trend and involves licensing of trademarks.
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Brand Name Selection
Companies have four strategic options in choosing a brand name:
Company Name
Individual Names
Separate Brand Family Names
Combination of Company Name and Product Name
Desirable Qualities of Brand Names
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Branding Strategies
Different companies adopt different strategies, and since there is no best
strategy for all types of products, a company may adopt different branding
strategies across its product mix.
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Product Branding Strategy
This strategy focuses on promoting the brand exclusively so that it reflects
its own personality, identity, associations, and image. The brand does not
take on company associations and any benefits from its name.
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Line Branding Strategy
The term line branding is altogether different than what product line refers to
in the context of product mix. In line branding, products share a common
concept. Line brands start with a single product conveying a concept and
later the brand name extends to other complementary products.
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Range Branding StrategyThis strategy seems to resemble line branding but is significantly different. It is
also called brand extension. Product categories are different but brand name is
the same, such as carrying the brand name Maggi is a range of different
products: noodles, sauce, soup, Dosa mixes, etc.
In case of range branding, it is not the product concept but the area of
expertise. This strategy permits expanding into products that do not complement
each other.
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Umbrella Branding StrategyThe approach is driven by economic considerations. The company name itself is
the brand name for all products across diverse categories. Investment in
building one brand proves far more economical than investing in building
several brands.
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Double Branding StrategyThis approach combines umbrella branding and product branding. Along
with the product brand name, the company name is associated to create
double branding, such as Tata Indica and, Bajaj Pulsar.
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Endorsement Branding Strategy
This is a minor variation of double branding strategy. The product brand name
gains a dominant position, while the company name merits a lower profile.
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Factors Influencing Branding Strategies Market Size
Competitive Situation
Company Resources
Product Newness
Innovativeness and Technology
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Packaging & Labelling
Packaging includes all activities that focus on the development of a container
and a graphic design for a product. A package may have three levels; the
primary package is the container of the product such as a bottle, jar, or tube,
the secondary package is the box of cardboard or some other materialcontaining the primary package; and the last is shipping package that
contains more units of secondary package.
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LabellingA label may be a part of package or it may be a tag attached to the product.
The labels perform a descriptive function relating to a products source, its
contents, important features and benefits, use instructions, cautions or
warnings, storage instructions, batch number, date of manufacture, and date of
expiry.