Product & Brand - 16th & 18th Jan 13

Brand
Unique design, sign, symbol, words, or a combination of these, employed in creating an image that identifies a product and differentiates it from its competitors. Over time, this image becomes associated with a level of credibility, quality, and satisfaction in the consumer's mind (see positioning). Thus brands help harried consumers in crowded and complex marketplace, by standing for certain benefits and value. Legal name for a brand is trademark and, when it identifies or represents a firm, it is called a brand name.
A name becomes a brand when consumers associate it with a set of tangible and intangible benefits that they obtain from the product or service It is the sellers promise to deliver the same bundle of benefits/services consistently to buyers
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Brand Decisions
The AMA definition of a brand:
A name, term, sign, symbol, or design, or a combination of these, intended to identify the goods or services of one seller or group of sellers and to differentiate them from the competition.
From Products to Brands

Understanding Branding Brand Building
Prod ucts to bran ds
Attributes
Manage ment
Architectur e
Exercise

Brand v/s. Product

Manage ment Architectur e
Exercise
Attributes
A brand is more distinctive than a product
It is first of all a name, a means of identification Secondly it s a set of added values offering both functional and psychological benefits
Above all a brand is a promise

Attributes
Manage ment
Architectur e
Exercise
A Brand is a Promise
A sellers promise to deliver consistently a specific set of features, benefits and services to buyers.
.a short-hand that communicates powerfully & reduces uncertainty

Brand as an Asset
If Coca Cola lost everything except for the formula and its brand name , it could walk into any bank in the world and get $100 billion loan to start from the scratch
Fortune Magazine
Naming the Brand

Product benefits Product qualities Easy to pronounce Should be distinctive Should not have poor meanings in other languages and countries
Advantages of branding
Entire process involved in creating a unique name and image for a product (good or service) in the consumers' mind, through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts & retains loyal customers
Easy for the seller to track down problems and process orders Provide legal protection of unique product features Branding gives an opportunity to attract loyal and profitable set of customers It helps to give a product category at different segments, having separate bundle of benefits It helps build corporate image It minimizes harm to company reputation if the DO NOT CIRCULATE W/OUT PERMISSION | brand fails SURAJIT
What is the Territory of the Brand?
Brand Decisions
Brands can convey six levels of meaning:
Attributes Benefits Values Culture Personality User
Brand Decisions
Brand identity decisions include:
Name Logo Colors Tagline Symbol
Consumer experiences create brand bonding, brand advertising does not.

Brand Decisions
Marketers should attempt to create or facilitate awareness, acceptability, preference, and loyalty among consumers. Valuable and powerful brands enjoy high levels of brand loyalty.
Brand Decisions
Aaker identified five levels of customer attitudes toward brands:
Will change brands, especially for price. No brand loyalty. Satisfied -- has no reason to change. Satisfied -- switching would incur costs. Values brand, sees it as a friend. Devoted to the brand.
Brand Decisions
Brand equity refers to the positive differential effect that a brand name has on customers. Brand equity:
is related to many factors. allows for reduced marketing costs. is a major contributor to customer equity.
Brand Decisions
Key Challenges
To brand or not Brand sponsor Brand name Brand strategy Brand repositioning
Advantages of branding:
Facilitates order processing Trademark protection Aids in segmentation Enhances corporate image Branded goods are desired by retailers and distributors
Brand Decisions
Key Challenges
Options include:
Manufacturer (national) brand Distributor (reseller, store, house, private) brand Licensing the brand name
Brand Decisions
Key Challenges
Strong brand names:
Suggest benefits Suggest product qualities Are easy to say, recognize, and remember Are distinctive Should not carry poor meanings in other languages
Brand Decisions
Key Challenges
Varies by type of brand
Functional brands Image brands Experiential brands
Line extensions Brand extensions Multibrands New brands Co-branding
Brand Decisions
Key Challenges
A brand report card can be used to audit a brands strengths and weaknesses. Changes in preferences or the presence of a new competitor may indicate a need for brand repositioning.
Criteria For Chooses Brand Elements

Memorability Meaningfulness Likability Transferability Adaptability Protectabilty
Brand Names
Simplicity and ease of pronunciation and spelling Familiarity and meaningfulness Differentiated, distinctive and unique Descriptive brand names
Naming Procedures
Define objectives Generate ideas Screen initial candidates Study candidates Research final candidates Select the final name
URLS
Domain names Location of page on the web Memorable
Options And Tactics For Brand Elements

Logos and symbols

Characters

Slogans

Jingles

Packaging
Brand Equity Brand's power derived from the goodwill and name recognition it has earned over time, and which translates into higher sales volume and higher profit & margins against competing brands
When a commodity becomes a brand, it is said to have equity. The premium a brand can command in the market The difference between the perceived value
Customer's opinion of a product's value to him or her. It may have little or nothing to do with the product's market price, and depends on the product's ability to satisfy his or her needs or requirements.
and the intrinsic value Underlying, essential, inherent value.

Brand Equity
Brand's power derived from the goodwill and name recognition it has earned over time, and which translates into higher sales volume and higher profit margins against competing brands
Competitive advantage Reduced marketing costs Trade leverage Can charge a higher price Can easily launch brand extensions Can take some price competition
Managing Brand Equity

Brand Equity needs to be nourished and replenished. We must not flog the brand for equity to be diluted or dissipated Store brands
Brand Repositioning
This may be required after a few years to face new competition and changing customer preferences
Brand Power
Customer will change brands for price reasons Customer is satisfied. No reason to change. Customer is satisfied and would take pains to get the brand Customer values the brand and sees it as a friend Customer is devoted to the brand
Brand strategy Long-term marketing support for

a brand, based on the definition of the characteristics of the target consumers. It includes understanding of their preferences, and expectations from the brand.
Line extension existing brand name extended to new sizes in the existing product category Brand extension brand name extended to new product categories Multibrands new brands in the same product category New brands new product in a different product category Co-branding brands bearing two or more well known brand names
Brand parity Equality or essential equivalence.

Consumers buy from a set of acceptable/ preferred brands
Packaging and Labeling

Packaging includes:
The primary package The secondary package The shipping package
Many factors have influenced the increased use of packaging as a marketing tool.

Developing an effective package:
Determine the packaging concept Determine key package elements Testing:
Engineering tests Visual tests Dealer tests Consumer tests

Labeling functions:
Identifies the product or brand May identify product grade May describe the product May promote the product
Legal restrictions impact packaging for many products.
Packaging Continued
Has numerous benefits Packaging at point of purchase Packaging innovations Package design Package changes
POSITIONING : The Battle for Your Mind
A concept so simple, people have difficulty in understanding how powerful it is! DO NOT CIRCULATE W/OUT PERMISSION |
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What is Positioning ?
Positioning is owning a piece of consumers mind Positioning is not what you do to a product Its what you do to the mind of the prospect
You position the product in the prospects mind To position a product/service in the minds of consumers relative to competitors
Ries and Trout

Examples
Colgate is Protection
LUX is Glamour
Ponds is Confidence
AXE is Attraction
Gillette is quality
Positioning
Brand Identity and Brand Image

Brand Positioning
To position a product/service in the minds of consumers relative to competitors

Ries and Trout
A reason to be
The brand has to be distinctive, relevant and appealing to its target audience
Positioning
Positioning refers to how organizations want their consumers to see their product
Positioning = Segmentation + Differentiation Slotting your product in the consumers mind. Who am I? Why buy me? Positioning starts with the product.But Positioning is not what you do to the product. Positioning is what you do to the mind of the prospect - Ries and Trout
The assault on our mind The media explosion The product explosion The advertising explosion
So little message gets through that you ignore the sender and concentrate on the receiver Consumers only accept what is consistent with prior knowledge or experience Very difficult to change the perception once formed
The easy way to get into a persons mind is to be first

Xerox, Kodak, Polaroid, Sun TV, The Hindu
If you didnt get into the mind of your prospect first, then you have a positioning problem
Better to be first than be best
Even if you are not first, be the first to claim a unique position in the mind of the consumer
Miller Lite first lite beer and Becks Beer first beer popular in Germany
In the positioning era, you must, however, be first to get into the prospects mind
How it is done
The basic approach is not to create something new or different, but manipulate whats already in the mind To find a unique position, you must ignore conventional logic Conventional logic says you find concept inside product Not true; look inside prospects mind
You wont find an un-cola idea inside 7-up. You find it inside cola drinkers head
Brand Positioning : Complan

Complan for what? Enriched with 23 vital nutrients in right quantity and proportion essential for healthy growth Complan for whom? A brand for growing children Complan for when? Higher nutrition needs Packaging Complan Boy/Complan Girl
Brand Positioning : Complan
Complete planned food

Brand Positioning : Boost

Boost for what? For fitness and health Boost for whom? For the young and the sporty Kapil Dev, Sachin Tendulkar and Virender Sehwag Boost for when? Whenever and wherever energy is needed Packaging Tall cylindrical straight jar that symbolizes athleticism and fitness
Brand Positioning : Boost
Boost is the secret of myenergy

Brand Positioning : Bournvita

Bournvita for what? For nutrition and health Bournvita for whom? For a growing kid who is healthy, intelligent, energetic and glowing Bournvita for when? Everyday to ensure you are energetic throughout the day Packaging A tall cylindrical straight jar that reflect energy, enthusiasm and vigor
Brand Positioning : Bournvita
Poshan bhi swaad bhi

Do not boast of being number 1, implies insecurity about leadership (Coke the real thing) Single Position Strategy Each brand occupying a single unchanging position in the mind of the customer Cheaper to introduce new brands Introduce new brands instead of changing existing Safari and Sumo Change is inevitable and leader must be willing to embrace change.
It is always better to be first and establish leadership If the product is not first, then it must find an unoccupied position Munch ka crunch Mahaan Chocolate with a crunch Avis is only No. 2 in rent-a-car, so why go with us? We try harder.
A product that seeks to be everything to everyone will end being nothing to everyone
You concentrate on the perceptions of the prospect, not the reality of the product - Al Ries & Jack Trout

Product &amp; Brand - 16th &amp; 18th Jan 13

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Product &amp; Brand - 16th &amp; 18th Jan 13

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Brand

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From Products to Brands

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From Products to Brands

Brand v/s. Product

Prod ucts to bran ds

A brand is more distinctive than a product

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From Products to Brands

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From Products to Brands

.a short-hand that communicates powerfully & reduces uncertainty

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Naming the Brand

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What is the Territory of the Brand?

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Consumer experiences create brand bonding, brand advertising does not.

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Line extensions Brand extensions Multibrands New brands Co-branding

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Criteria For Chooses Brand Elements

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Options And Tactics For Brand Elements

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Options And Tactics For Brand Elements

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Options And Tactics For Brand Elements

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Options And Tactics For Brand Elements

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Options And Tactics For Brand Elements

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and the intrinsic value Underlying, essential, inherent value.

Managing Brand Equity

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Brand strategy Long-term marketing support for

Brand parity Equality or essential equivalence.

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Packaging and Labeling

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Packaging and Labeling

Packaging and Labeling

Legal restrictions impact packaging for many products.

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POSITIONING : The Battle for Your Mind

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Ries and Trout

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Brand Identity and Brand Image

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To position a product/service in the minds of consumers relative to competitors

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Product & Brand - 16th & 18th Jan 13

Product & Brand - 16th & 18th Jan 13