Brand Definition:An identifying symbol, words, or mark that distinguishes a product or company from its competitors.

Usually brands are registered (trademarked) with a regulatory authority and so cannot be used freely by other parties. For many products and companies, branding is an essential part of marketing. The American Marketing Association defines a brand as a "name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers. The legal term for brand is trademark. A brand may identify one item, a family of items, or all items of that seller. If used for the firm as a whole, the preferred term is trade name."

Types of brand:Family/Umbrella brand:Main (most well established) brand under which several new products are introduced to take advantage of its credibility, identity, and name-recognition. When a group of products are given the same brand name, it becomes a case of family brand/umbrella brand. In this case, different products of the company are marketed under one brand name. The examples given below are details of some family brands. Family branding/umbrella do not mean that entire product mix of the company should go under single brand name. A company may resort to different branding approaches for different product lines. Amul is an example of family/umbrella brand. Amul is the common brand name for the companys milk powder, butter, ghee and milk chocolates.

Videocon is a family brand name for a variety of products of Videocon Corporation. Its TVs, VCRs, refrigerators, washing machines and air conditioners go under the Videocon brand name.

Private Brand:Brand owned not by a manufacturer or producer but by a retailer or supplier who gets its goods made by a contract manufacturer under its own label. Also called private brand. Individual brand:(Individual branding) Individual branding, also called individual product branding or multibranding, is the marketing strategy of giving each product in a portfolio its own unique brand name. (Individual Branding) Each brand has a separate name (such as Seven-Up or Nivea Sun (Beiersdorf), which may even compete against other brands from the same company (for example, Persil, Omo, Surf and Lynx are all owned by Unilever). Examples of individual product branding include Procter & Gamble, which markets multiple brands such as Pampers, and Unilever, which markets individual brands such as Dove.

Function of brand:-

A brand fulfills key functions for consumers and companies alike. The functions of a brand for consumers:Brands play a role in terms of communication and identification. They offer guidance, convey an expectation of quality and so offer help and support to those making purchase decisions. Brands make it easier for consumers to interpret and digest information on products. The perceived purchasing risk is thus minimized, which in turn helps cultivate a trust-based relationship. A brand can also serve as a social business card, expressing membership in a certain group. Premium brands, for instance, can even engender a sense of distinction and prestige. Consuming certain brands is also a means of communicating certain values. By opting for particular brands, a consumer demonstrates that he or she embraces particular values; the brand becomes a tool of identity formation. The functions of brands from a companys perspective:A brand fosters brand and customer loyalty. Particularly strong brands can establish the prevalence of premium prices on the market and soften consumer reactions to price changes. Specifically brand-oriented buyers who are more concerned with brands than prices are more resilient when it comes to changes in the competitive scenario. This decreased sensitivity to price changes makes them more valuable as customers. The reduction in perceived purchasing risk lays the groundwork for a relationship of trust, giving brands a role to play in lashing customers to a company. Brands can counter the swelling ranks of trade because dealers stock their shelves and fill their order lists with products explicitly requested by consumers. Strong brands in particular keep sales levels and market share constant and considerably lessen dependence on short-term special promotions. A brand unlocks great potential in terms of licensing opportunities as well, helping companies achieve plans for international expansion. Finally, brands also offer companies potential for honing a clear profile and overshadowing the competition. Strong brands in particular can reduce the risk that new product launches will flop and can be used as platforms for successful brand stretching (also in terms of launches in completely new product segments and sectors)

Definition for brand vision:An organizations clear view of what its brand is now and what it would like it to become in the future. The Brand Vision is a simple statement on one page suitable for circulation to all employees and business partners. In turn, it drives the LEAP, the long term equity action plan. This is a 5 year plan to achieve the vision. It breaks the goal down into a small number of imperatives (the short list of things the business must do to fulfill the vision) and initiatives (specific actions to achieve the imperatives), each of which has a detailed set of metrics. Well write more about this 5 year planning tool in a subsequent posting.

What Does Brand Equity Mean?

The value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. Companies can create brand equity for their products by making them memorable, easily recognizable and superior in quality and reliability. Mass marketing campaigns can also help to create brand equity. If consumers are willing to pay more for a generic product than for a branded one, however, the brand is said to have negative brand equity. This might happen if a company had a major product recall or caused a widely publicized environmental disaster. Value perceived by consumers over time; the value built-up in a brand; accumulated a mass of positive sentiment; the positive differential effect that knowing the brand name has on customer response to the product or service.
Brand equity is the marketing effects and outcomes that accrue to a product with its brand name compared with those that would accrue if the same product did not have the brand name. Fact of the well-known brand name is that, the company can sometimes charge premium prices from the consumer. And, at the root of these marketing effects is consumers' knowledge. In other words, consumers' knowledge about a brand makes manufacturers and advertisers respond differently or adopt appropriately adept measures for the marketing of the brand. The study of brand equity is increasingly popular as some marketing researchers have concluded that brands are one of the most valuable assets a company has. Brand equity is one of the factors which can increase the financial value of a brand to the brand owner, although not the only one. Elements that can be included in the valuation of brand equity include (but not limited to): changing market share, profit margins, consumer recognition of logos and other visual elements, brand language associations made by consumers, consumers' perceptions of quality and other relevant brand values. Brand equity is strategically crucial, but famously difficult to quantify. Many experts have developed tools to analyze this asset, but there is no universally accepted way to measure it. In a survey of nearly

200 senior marketing managers, only 26 percent responded that they found the "brand equity" metric very useful.

Brand ambassador:Brand Ambassadors serve as the face of their client company at promotional events. They offer the company a chance to make a good impression on prospects. An effective brand ambassador is one who is interested in the product they are promoting, who can easily connect with the product. A Brand Ambassador is a person employed by a company to be the sales rep and physical representative of the company with respect to sales and marketing. The Brand Ambassador is meant to embody the corporate image in appearance, demeanor, values, and ethics. a person hired to drive consumer demand for a product, service, brand, or concept by directly interacting with potential consumers. A promotional model can be female or male, and typically is intended to be attractive in physical appearance. They serve to provide information about the product or service and make it appealing to consumers.

Brand Personality:The feeling that people have about a brand as distinct from what the product can actually do. The image or psychological profile the manufacturer intends to convey to the public as opposed to the "brand image," which refers to the consumer's perception and the image the consumer has of a brand.
Brand is the personality that identifies a product, service or company (name, term, sign, symbol, or design, or combination of them) and how it relates to key constituencies: customers, staff, partners, investors etc. Some people distinguish the psychological aspect, brand associations like thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand, of a brand from the experiential aspect. The experiential aspect consists of the sum of all points of contact with the brand and is known as the brand experience. The brand experience is a brand's action perceived by a person. The psychological aspect, sometimes referred to as the brand image, is a symbolic construct created within the minds of people, consisting of all the information and expectations associated with a product, service or the company(ies) providing them.

What Does Brand Extension Mean?

A common method of launching a new product by using an existing brand name on a new product in a different category. A company using brand extension hopes to leverage its existing customer base and brand loyalty to increase its profits with a new product offering. Starbucks coffee company creating Starbucks ice cream, to be sold not at Starbucks retail stores but in grocery stores. The ice cream flavors were based on the flavors of frappucinos Starbucks sold in its coffee shops. Brand- A name, term, sign, symbol, or design, or a combination that identifies the maker or seller of a product or service. Brand Extension- Using a successful brand name to launch a new or modified product in a new category. Brand Identity- Name, term, symbol or design intended to signify the goods or services of seller(s) to differentiate them from similar offerings. Brand Positioning- Understanding what a brand stands for, its associations, assets, personality and in what competitive context it exists. Branding- Creating, maintaining, protecting, and enhancing the identity of products and services. Business portfolio- The collection of businesses and products that make up the company.

What is the difference between Brand and Trademark?

A brand is developed over a course of time with consistent quality that is appreciated by customers. A trademark is granted by trademark and patent office, and is a legal device that protects the owner in case of unlawful use of the trademark. Brand helps in identification of the product and the company, while trademark helps in preventing others from copying. If a brand has not been registered, anyone can copy it, and there is no provision of any penalty, while in case of trademark violation, there is severe penalty. Although the term 'brand' is sometimes used synonymously with 'trade mark', in commercial circles the term 'brand' is used in a much wider sense. A company's brand refers to a combination of tangible and intangible elements such as the trade mark, design, logo and also the concept, image and reputation associated with that business.

For example the Disney brand is a very strong example which conjures up the whole ethos and experience that Disney is known to offer, not just their actual trade mark or logo. A brand may have a trademark, which is a symbol or indicator, letting you know what brand a product is. The two terms are sometimes used interchangibly because of the different meanings they can have.

Brand Rejuvenation with examples Brand rejuvenation involves adding value to an existing brand by improving product attributes
and enhancing its overall appeal. It is intended to re-focus the attention of consumers on an existing brand. Brand rejuvenation helps overcome the consumers boredom in seeing the same product on the shelves year after year. A consumers psychological desire for changing is one key factor behind brand rejuvenation. New Burnol: Burnol became New and appeared in a new pack. * New Horlicks : HMM its New Horlicks the New Horlicks claimed more nourishment through additional protein and calcium, eight essential vitamins and iron. * New Nescafe: Nestle rejuvenated Nescafe and brought in the New Nescafe. New Nescafe was made using the new agglomeration coffee process, instead of the fine powder form and the coffee now came in small round goblets. * New Bournvita: To give a push Bournvita, Cadburys came out with New Bournvita, with extra glucose in a new packing. * New Vicks Vapour: P&Gs 100 year old Vicks Vaporub has almost become a generic name for cold cure. Still P&G does not keep quiet. New packages appear, new promotion campaigns are launched and improvements in product formulation area also made. In late 1990s, the brand received one such facelift and appeared as New Vicks Vaporub. Objectives of Brand Rejuvenation:The main objectives of rejuvenation are: Rejuvenation aims at revival of brand. The intention is to breathe some new life into a brand that may be showing signs of decline. Even healthy, successful brands may need occasional rejuvenation. Because of competition, some re-formulation and refinement become necessary from time to time. The brand has to be updated. It ensures the steady success of the going brand. It helps keep the brand live and in focus. Some companies are constantly playing the rejuvenation game. Cadburys, Procter & Gamble and Hindustan Lever are examples of companies which believe in giving their products the occasional facelift through rejuvenation. They have a strong R&D base and are constantly

striving to improve their existing brands. Hindustan Lever tops the list. It keeps updating most of its brands Surf, Close up, Lux, Rexona, the list in fact is long. Even the 100 year old Lifebuoy got a facelift; it came in new 75 gm rural pack as New Lifebuoy. HLL conducts 15 to 20 rejuvenation programs, spread over its 30 major brands in various product categories every year.

Brand positioning:Brand positioning refers to target consumers reason to buy your brand in preference to others. It is ensures that all brand activity has a common aim; is guided, directed and delivered by the brands benefits/reasons to buy; and it focusses at all points of contact with the consumer.

Brand positioning must make sure that: Is it unique/distinctive vs. competitors? Is it significant and encouraging to the niche market ? Is it appropriate to all major geographic markets and businesses ? Is the proposition validated with unique, appropriate and original products ? Is it sustainable - can it be delivered constantly across all points of contact with the consumer ? Is it helpful for organization to achieve its financial goals ? Is it able to support and boost up the organization ? Brand Positioning can be defined as an activity of creating a brand offer in such a manner that it occupies a distinctive place and value in the target customers mind. For instance-Kotak Mahindra positions itself in the customers mind as one entity- Kotak - which can provide customized and one-stop solution for all their financial services needs. It has an unaided top of mind recall. It intends to stay with the proposition of Think Investments, Think Kotak. The positioning you choose for your brand will be influenced by the competitive stance you want to adopt.

Job responsibility of brand manager:Marketing and brand managers set the strategic direction of their brand and work with many departments to make sure that the strategy is executed. Product development: Brand managers work extensively with research and development (R&D) to develop new products - the beloved babies of the brand. Managers must sift through extensive marketing data. Brand managers work with R&D and market research departments to

determine what functional benefits a product offers. As a marketing or brand manager, you must always have a detailed knowledge of your products' ingredients, what your product is currently capable of performing, and what future developments can make your product even more desirable to your target consumer. Marketers interpret data about every aspect of a prospective product - its color, texture, smell, packaging - in order to make the product as appealing to consumers as possible. During product launches, brand managers meet often with R&D scientists to ensure the scientists are moving in the right direction. (Even at high-tech firms, product development is sometimes led by marketers. Usually known as product managers, these marketers find out what the customers want, and then give specifications to engineers on what to make.) The extension: More common than the new product is the brand extension, which builds on pre-existing products: a new flavor of granola bar; a smaller-sized bottle of ketchup. Brand extensions serve two main functions. They can expand market share into a new market (Frosted Cheerios goes after those who want sweet cereal), and they can help invigorate a sluggish brand. The promise of something new splashed across packages and TV screens opens marketing avenues for the original brand. Then there are product changes. These can be small additions, can serve to revitalize a brand (purple horseshoes in your Lucky Charms), but can also involve a complete overhaul of a product. The latter change is a risky one: Even mountains of market research can't prevent egregious misinterpretations of brand identity. While consumers may have preferred New Coke in a blind taste test, they shunned it when it arrived on the scene in 1985 - and Coke was forced into an embarrassing withdrawal of the newfangled drink just a year before its 100th anniversary.

Strategy development: Once you understand how your product works and to whom it appeals, you (and your brand management team) must develop a communications strategy that conveys the benefits to appropriate consumers. This requires working extensively with market research to understand your consumer needs and how your product can deliver on them. Once you have created the strategy, you will need to work with your ad agency and PR firm to help communicate this plan.

Package design: It is crucial that the packaging on your product reflects the product strategy you have developed. The packaging must be simple to read, but also stand out amongst the competition on the shelf. What color should the packaging be? Should it be bilingual? Will the package withstand wear and tear? Is the size and location of the handle convenient? Not only is package design concerned with function, but aesthetics can be ultra-important as well, and can

be a strong part of a brand's identity (Coke's contour bottle and the Hershey's aluminum wrapper with inserted paper strip are classic examples of packages that have become synonymous with the product). A particularly appealing package design can often drive product sales. The process of package design is identical to that followed during product launches: research and more research, meetings with R&D scientists, and test trials. Market research: As a marketing manager, you must understand what consumer studies and tracking devices can be used to glean the most information about your product. Whether you conduct focus groups to test the latest product concept, track trial and satisfaction rates for your latest launch, measure market share in a certain market, or assess competitive activity, understanding and executing market research will be a huge part of your job. Sales Force management: Because you know your product's functional and emotional attributes better than anyone else does, it makes sense that you should be the one to educate the salesforce. Attending meetings to explain what your sales goals are, and helping to design promotions that will motivate your salesforce to hit the pavement are also part of the job. Business forecasts: Brand managers determine how much of a product you will sell over a certain time period. By doing extensive research on the state of the market, the intensity of competition and how seasonality affects product sales, you will be able to effectively predict market share and profitability. Financial analysis: Chances are that as a brand manager, you will be given profit and loss responsibility. You will have to create a budget with your team and get it approved by senior management. From this budget, you will determine just how extensive your communications campaign and product development pipeline can be. Promotions: So, you want to encourage kids to eat twice as much Lucky Charms? Or, you want to get more people to buy bottles of Sprite, not cans. Promotions may be the best way to accomplish your goal. For example, you may want to have a coupon made or have a direct mail piece sent to individual consumers' homes. As a brand or marketing manager, you will work with your PR agency and your promotions department to develop a strategy and execute such an event. Advertising: Whether it's print, TV, radio, Internet, or outdoor advertising, the marketers work with advertisers to create a strategy, execute a commercial, and put it on the air. Advertising may be done in-house or through an outside agency. Media: You have an advertising strategy and $15 million to spend on it. What media vehicles do you use and what are your communication goals? You'll work with the internal media department as well as the media planning and buying departments at the ad agency to make sure that you develop a media plan that reaches exactly who you want to reach.

Pricing: If we decide to take a 5 percent price cut on Lysol disinfectant spray to celebrate the spring cleaning season, how will that affect our overall sales and profitability? You have a crucial role in determining the price sensitivity of your consumer target and what price point reinforces your brand's positioning in relation to the competition.

Manufacturing: How many boxes of Pampers can you get out the door in a month? How many cases need to be shipped to what parts of the country? If you wanted to switch to a new plastic bottle, how long would that take manufacturing to implement? As a brand manager, you will handle lots of operational questions like these.

Branding Decisions:Having an appropriate brand has emerged as the most important activity in the area of marketing of products especially consumer products. Several decisions need to be taken, though not simultaneously, with regard to brand selection and its use. These are: 1) Should the product be branded at all? 2) Who should sponsor the brand? 3) What quality should be built into the brand? 4) Should each product be individually or family branded? Should other products be given the same brand name? 5) Should two or more brands be developed in the same product category? 6) Should the established brand be given a new meaning (repositioning)? Let us consider each of these issues:

1) Whether to brand a product or not is a decision which can be taken only after considering
the nature of the product, the type of outlets envisaged for the product, the perceived advantages of branding and the estimated costs of developing the brand. Historically, it is found that brand development is closely correlated with the increase in the disposable income, the sophistication of the distribution system and the increasing size of the national market. The same trend is visible in India now

Even few years back, nobody could have thought of selling branded rice or refined flour and Iodized Salt, but several firms in the recent past have become successful even in such product categories. The basic reason is that a class of consumers is willing to pay more for uniform and better quality product represented by the brand. Irrespective of the location and from which retailer they buy, customers are always buying the same product attributes when they buy a branded product. Many other commodities, such as spices are also now being branded. There is no doubt that this trend will become stronger in the coming years.

2) The question of sponsorship of a brand refers basically to the decision as to whether it

should be a manufacturers' brand, also known as a national brand or a private brand, also known as a middleman's brand. This is a major decision in most developed countries where large chain/departmental stores dominate the retail distribution system. This is, however, largely a hypothetical question in India, where retail distribution system is highly fragmented. Only Super Bazars have started marketing a few products which are specially packed and sold under their names. However, if outlets of Super Bazars, Mother Dairy and National Consumers Cooperative Federation increase in sufficient numbers, it is possible that private brands will also become a reality in future. Some retailers' brand names in the product categories of sarees and car accessories have already been established.

3) A very crucial decision is with regard to the quality and other attributes to be built into the
product. The matrix of such attributes will decide the product positioning. A marketer has the option to position his product at any segment of the market: top, bottom or the intermediate. Taking an example, Surf is positioned as a premium quality and high priced product. At the other end of the scale, Nirma is positioned as low priced, while products such as Det or Key are somewhere in between.

4) The marketer also has to decide at the outset whether he would like to adopt a family brand
under which all the products of the company would be sold or he would like to brand each product separately. Companies like GE or Philips follow the family name strategy, while GM follows the individual brand strategy. In India, L&T and Kissan are examples of the former, while Hindustan Lever follows the latter.

Brand Repositioning:Over the life cycle of a product, several market parameters might undergo a change such as introduction of a competing product, shifts in consumer preferences, identification of new needs, etc. All and each of such changes call for a relook as to whether the original positioning of the product is still optimal or not. Stagnating or declining sales also point to a need for reassessment of the original product positioning. For example, Thums Up has been repositioned several times in the recent past, from the young to the professionals to the kids and hack to the young.

8 important steps for creating successful corporate brand strategy:1) CEO and Brand Management team: Every branding strategy must start from Board room and led by the CEO with brand management team and senior officials of the company. It would be great if you hire any professional branding agency and involve them in your meeting. 2) Choose perfect business model or build your own : Business Model is the backbone of branding strategy. So, it is important to choose the best model for your business or build your own. Because every business has its own needs and working culture, therefore, it is best to build a business model which perfectly balances your companys need and values. 3) Listen from stakeholders and act possibly : Stakeholders are our Customers, Employees, Shareholders, Trade Partners, Industrial Commentators, Opinion Leaders and Interest Groups. They know the best about the company, so listen them accordingly and act possibly. This will help you to create a transparency within the company and outside the company. 4) Always look for new technology:- World is changing every minute so as the technology. So, its important to keep pace with the changing technology because technology plays a vital role in successful corporate strategy. Keep your companys infrastructure updated with the latest technology which will always give you extra edge above your competitors. 5) Inspire employees to become brand ambassadors: If you give training to your employees about the company brand strategy, e.g., vision, mission , values, work culture. They can be the best brand ambassadors of your company. The only thing is to clear company goals, aims and future plans to make your employees believe. 6) Make lifelong customers: Always make sure to take proper care of customers expectation. The successful corporate branding is when you keep up the promises you made with your customers. So, always ensure to provide them the best product or service. After-sales service is also very important after you are done with product sales. 7) Communication strategy : Communication strategy is very important when it comes to create successful corporate brand image. So, always execute well-planned marketing strategy which is relevant, simple to understand to your target segment.

8 ) Check performance of your brand : Brand equity always play an important in checking performance of the brand. It refers to the marketing effects or outcomes that add to a product with its brand name compared with those that would add if the same product did not have the brand name. The study of brand equity is increasingly popular as some marketing researchers have concluded that brands are one of the most valuable assets that a company has. Brand equity is one of the factors which can increase the financial value of a brand to the brand owner. So always keep track on performance of your brand time to time.

Brand extension
Brand Extension is the use of an established brand name in new product categories. This new category to which the brand is extended can be related or unrelated to the existing product categories. A renowned/successful brand helps an organization to launch products in new categories more easily. For instance, Nikes brand core product is shoes. But it is now extended to sunglasses, soccer balls, basketballs, and golf equipments. An existing brand that gives rise to a brand extension is referred to as parent brand. If the customers of the new business have values and aspirations synchronizing/matching those of the core business, and if these values and aspirations are embodied in the brand, it is likely to be accepted by customers in the new business. Extending a brand outside its core product category can be beneficial in a sense that it helps evaluating product category opportunities, identifies resource requirements, lowers risk, and measures brands relevance and appeal. Instances where brand extension has been a success areWipro which was originally into computers has extended into shampoo, powder, and soap. Mars is no longer a famous bar only, but an ice-cream, chocolate drink and a slab of chocolate. Brand audit:A comprehensive and systematic examination of all collateral (both tangible and intangible) which relates to a brand. Analysis of an organizations brand and its brand management and marketing effectiveness. It assesses a brands strengths, weaknesses, opportunities, and threats. It identifies brand growth opportunities including those achieved by brand repositioning and brand extension.