Chapter 31 Branding, Packaging, and Labeling 1

Marketing EssentialsMarketing Essentials UNIT Branding, Packaging, and Labeling

Branding Elementsand Strategies

Chapter 31 Branding, Packaging, and Labeling 2

Branding UnitBranding UnitWhat You'll LearnWhat You'll Learn

Branding Elements and StrategiesBranding Elements and Strategies

The nature, scope, and importance of branding in product planning

The various branding elements

The different types of brands

How to classify branding strategies

Chapter 31 Branding, Packaging, and Labeling 3

Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and StrategiesWhy It's ImportantWhy It's Important

The right name is an important part of every successful business. The _____ and ______ of a business or a product reflect the personality of the company, product, or service.

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

A ______ is a name, term, design, or symbol (or combinations of them) that identifies a _________ or organization and the products that they offer. Brands are divided into two categories:

_______ brands

product brands

Branding

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

Branding

Corporate brands identify the business and reflect _______, value, and reliability.

Product brands show quality and reliability for a particular _______.

Slide 2 of 6

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

BrandingA brand name is the ______, group of words, letters, or numbers of a brand that can be _______.

A brand mark is a _______, design, or distinctive coloring or lettering that identifies a brand.

Slide 3 of 6

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

Branding

A trade character is a brand mark with ______ form or characteristics.

A trademark is a brand name, brand mark, trade name, trade character, or a combination of these given _____ __________ by the federal government and noted by the trademark symbol ().

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

Brand names, brand marks, trade names, trade characters, and trademarks are often combined to form a firm'scorporate ______ or name.

Branding

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Chapter 31 Branding, Packaging, and Labeling

TOP BRANDS

• GO TO BRANDZ 2014 TOP 100 PDF9

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and StrategiesTop Ten Brands

• Brands are often a company’s most valuable asset. • What amounts of advertising spending do you think

companies spend on their brand?• Do you think these brands would continue to be valuable if the

companies reduced or eliminated their advertising?

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

Importance of Brands in Product PlanningThe use of brands is important

in product planning for several

reasons. Branding:

builds customer _________

assures customers that products carrying the same brand are of a consistent ___________

addresses new _____ markets

establishes an image for a product or company

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Branding UnitBranding UnitBranding Elements & StrategiesBranding Elements & Strategies

Generating Brands___________ percent of

companies introduce a ________

product name each year. Brand names are generated by:

company ________ specialized computer software programs _________ agencies, naming consultants,

and public relations agencies

________ of all corporate name changes occur because of company mergers and acquisitions.

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

Three classifications of brands are:

National Brands

Private Brands

Generic Brands

Types of Brands

Slide 1 of 3

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

National Brands, also called ___________ brands, are owned and initiated by manufacturers.

Example: General Electric, Heinz, Motorola

Private Brands, also called _________ brands or dealer brands, are owned and initiated by wholesalers and retailers.

Example: Radio Shack, Kmart

Types of Brands

Slide 2 of 3

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

Generic brands represent a __________ product category and do not carry a company or brand name. The packaging carries only a description of the product, such as “pancake mix” or “paper towels.” They are usually much cheaper than _________-name products.

Types of Brands

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Branding Graphic OrganizerGraphic Organizer

Types of Brands

TYPES OF BRANDSTYPES OF BRANDS

NationalNationalBrandsBrands

PrivatePrivateBrandsBrands

GenericGenericBrandsBrands

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

Branding _________ are the ways companies use brands to meet sales and company objectives. Strategies include: 1. Brand Extensions 2. Brand Licensing 3. Mixed branding

co-branding

Brand Strategies

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

Brand extension is a branding strategy that uses an _________ brand name for an improved or new product in the product line.

Example: Ocean Spray Cranberry Juice extended to Cran-Apple, Cran-Raspberry, etc.

Advantages: Reduces risk of new product _____________

Disadvantages: ____ - ________ a product line can cause brand dilution

Brand Extension

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LicensingLicensing Basics A ________ is a grant of permission to allowanother to make use of intellectual propertyrights. The intellectual property right maybe for a patent, trademark, trade secret, or copyright. The license may even be fortechnical or business "know-how."

In the Sports World…License—the legal right to ____________ a team’s logo in exchange for payment.Protect the use of the name and symbols

Advantages of LicensingIn order to be successful, a licensing agreement should: Be ___________ beneficial to both parties One of the benefits to the licensor may be maximizing income by expanding market opportunities without large capital expenses. A benefit to the licensee may include rapid entry into a market using technology developed and tested by others. The licensor wants to maximize income from the license

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

Brand licensing is the legal _____________ by a trademarked brand owner to allow another company (the licensee) to use its brand, brand mark, or ______ character for a fee.

Advantages: Enhance company image, sell more products

Brand Licensing

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

A mixed-brand strategy involves simultaneously offering a _____________ of National, Private, and Generic brands.

Example: Union Carbide sells Glad

brand garbage bags and generic brand

garbage bags.

Mixed Brands

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Branding UnitBranding Unit Branding Elements and StrategiesBranding Elements and Strategies

A co-branding strategy combines one or more brands to increase customer ________ and sales for each individual brand.

Example: Kellogg’s Pop-Tarts are made only with Smucker’s fruit filling. ________ Coffee Co. opens coffee shops inside Barnes & Noble bookstores.

Co-Branding

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Branding ASSESSMENTASSESSMENT

Reviewing Key Terms and Concepts

1. What is the difference between a brand name and a brand mark?

2. Why is branding important to product planning?

3. Name three types of brands.

4. List four different branding strategies.