Branding

Branding is used To create emotional attachment to products and companies. To create a feeling of involvement To have a sense of higher quality To have an aura of intangible qualities that surround the brand name, mark, or symbol

Brand
It is a name, term, sign, symbol, design, or some combination that identifies the products of a firm The Meaning of Brands Means of differentiating a company s products and services from those of its competitors. Customers will pay a substantial price premium for a good brand and remain loyal to that brand. It is important, therefore, to understand what brands are and why they are important.

A Brand is a ..
` Name, ` Term, ` Sign, ` Symbol, or ` Design intended to distinguish the goods and services from one another

What is Branding?
Branding is the business process of managing the trademark portfolio so as to maximize the value of the experiences associated with it, to the benefit of the key stakeholders

key stakeholders
employees customers stock/share holders suppliers intermediaries opinion leaders local communities purchasers and licensees

Brand The three Cs

The three Cs are: Clarity, Consistency, and Constancy. Does the brand pass the Three C Test?

Clarity
` Strong brands are clear about what they are and what they are not. ` They understand their unique promise of value. ` This promise of value sets them apart from their competitors. ` Johnson, for example, ` They are clear about their commitment ` They build products for babies that provide care. ` Products that are safe. ` They clearly focus their communication activities on this differentiation.

Consistency
In addition to being clear about who they are, strong brands are also consistent. They are always what they say they are. For example Toyota They are always about performance. They don t change their focus from model to model. When new editions come out each year, they perform too. Toyota consistently communicates that.

Constancy
It is not enough to be clear and consistent if you are not always visible to your target audience. Strong brands are constant; They are always there for their customers and prospects. They don t go into hiding. For Coke, the world is the target market. That is why we can t make it through a day without being exposed to their bright red colour or familiar script logo. Coke is a constant in our lives. And Coke is one of the world s strongest brand Example : Maruti

ESPN: A Strong Brand

Kerala Tourism has successfully branded the destination with a brand name, logo, and the tagline God s Own Country

The Role of Brands

Identify the maker Simplify product handling Organize accounting Offer legal protection

The Role of Brands

Signify quality Create barriers to entry
Serve as a competitive advantage

Secure price premium

What is Brand Equity?

Brand equity is the added value endowed on products and services, which may be reflected in the way consumers, think, feel, and act with respect to the brand.

Brand Knowledge
Thoughts Knowledge Images Experiences Feelings

Beliefs

Apple is a Strong Brand

What is a Brand Promise?

A brand promise is the marketer s vision of what the brand must be and do for consumers.

Burger King Builds Its Brand with Social Connectivity

Drivers of Brand Equity

Brand Elements
Marketing Activities
Meaning Transference

Brand Elements
Brand names
Slogans
Elements

URLs
Logos

Characters

Symbols

Brand Element Choice Criteria

o o o o o o Memorable Meaningful Likeability Transferable Adaptable Protectible

Devising a Branding Strategy

Develop new brand elements

Apply existing brand elements

Use a combination of old and new

Reasons for Brand Portfolios

o Increasing shelf presence and retailer dependence in the store o Attracting consumers seeking variety o Increasing internal competition within the firm o Yielding economies of scale in advertising, sales, merchandising, and distribution

Brand - Customer Relationship

It is critical to be consistent across the entire company and convey the same brand message and experience. The Brand-Customer Relationship becomes - if properly done - part of the goodwill and core competency that a brand can leverage in gaining and maintaining customer trust and business Customer service, and the relationship a company has with a customer, is indeed part of the brand

Successful Brand-Customer Relationship

` Develop a compelling brand identity and customer value proposition ` Rely on customer perspective, and have the ability to listen and respond appropriately to evolve company s offerings to meet customers needs and desires. ` The organization must be aligned in ways that anticipate and fulfill customers emotional expectations at every touch point to create meaningful relationships and lasting competitive advantage.

Steps in Building A Strong Brand

1. Start with a Quality Product. 2. Identify Brand s Singular Distinction, Define the Message, and Position the Brand Properly in the Market. Own a Word or Phrase (Nike owns Just do it .) 3. Tap into Emotion.

Steps in Building A Strong Brand

4. Build the image. 5. Market the image 6. Live the message. 7. Measure the Brand Equity Against the Competition and Continue to Build and Refine the Brand.
Example : Sony

1st Real Fruit Juice Mixology workshop

Advertising does help in building brand recall, but advertising alone does not sustain a brand

Brand Name Decisions

Individual Brand Names (Coca Cola, Fanta) A blanket family Name for all products Separate family name for all Products (SEARS)
Kenmore for Appliance Craftsman for Tools Homeart for Home Installations

Company Name with Individual Brand Names (Wills)

Wills Filter Wills Menthol

Brand Name - Qualities

Suggest product benefits Suggest product features Easy to recognise It should be distinctive Should not carry a poor meaning (NOVA)

Brand Extension
Existing successful brand name to launch another product Honda
Automobile Snow blowers Lawn movers Marine Engines

Brand Equity
Assets associated with a Brand It adds to value provided to the customers It is the aggregate of customer beliefs that the product will deliver the promise

Assets of the Brand

1.Brand Awareness 2.Brand Loyalty 3.Brand Associations 4.Perceived Quality