Branding

A brand is a distinguishing name and /or symbol intended to identify the goods or services of either one seller or a group of sellers, and thus to differentiate those goods or services from its competitors.
(Aaker)

Branding Origins

The word brand derives from the Old Norse word brandr meaning to burn, referring to the practice of burning a mark or brand onto products. It is this indelible mark in our mind that makes us prefer certain brands. A brand reaches iconic status when it transcends beyond a product and forms a part of popular culture. Think also of when brands are adopted as verbs and make it into the dictionary - Google and Surf are two such examples.

Brands & Commodities

At its best, a brand sells almost regardless of its price, while a commodity sells because of it. A brand sells for the consumer's perception of what he or she thinks it is worth; a commodity sells only in relation to what it costs to bring it to market.

Brand Name
Is that part of a brand which can be vocalised or uttered

That part of a brand which can be recognized but cannot be uttered (symbols, design, or distinctive colouring or lettering)

Brand Mark

Trademark
A brand or part of a brand that is given legal protection because it is capable of exclusive appropriation

Copyright
The exclusive legal right to reproduce, publish, and sell the matter and form of literary, musical, or artistic work

Brand Names and Slogans

One of the crucial elements in building a brand is to develop a theme that sends a clear brand message to potential recipients. One of the best ways to communicate what you are all about is through the use of brand slogans and brand names. In order to be effective, slogans must be short but also compelling and impactful. A catchy tag line can instantly bring your brand, and what it represent, to mind.

Brand
Sum of how consumers feel about the product

Trust Reliability Confidence A friend Status Shared experience

Branding Aims
Brand Recognition

Brand Preference

Brand Insistence

Branding Aims
also called

Brand Loyalty
Brand recognition: Consumer awareness and identification of a brand. Brand preference: Consumer reliance on previous experiences with a product to choose that product again. Brand insistence: Consumer refusals of alternatives and extensive search for desired merchandise.

BRANDING DECISIONS

To Brand Or Not

Buyer's Viewpoint
Perception on quality Increased efficiency in shopping Attracting attention to new products

To Brand Or Not

Seller's Viewpoint
Order processing & complaint handling Brand Loyalty Legal protection Market segmentation Enhanced corporate image

To Brand Or Not

Society's Viewpoint
Consistency Higher rate of innovation Enhanced efficiency of shopper Unnecessary differentiation Higher prices Increases status consciousness

II

BRAND SPONSOR DECISION

Manufacturers (National) Brand

Private (Middlemen /Dealers /Distributors) Brand Both

III

BRAND QUALITY DECISION

The rated ability of the brand to perform its functions

Quality Improvement Quality Maintenance Quality Adulteration

IV

FAMILY BRAND DECISION

Individual brand names Blanket family name for all products Separate family name or company trade name is combined with product names

IV

FAMILY BRAND DECISION

Umbrella and sub-branding - when you have many smaller brands, each linked to a common brand Flanker branding - Different brand name for the same product Complementary branding or co-branding when two or more mutually reinforcing brands get together to jointly promote themselves (one is not an ingredient of another)

IV

FAMILY BRAND DECISION

Line extension - if the new product is congruent with existing portfolio

Brand extension - if the new product is from a completely different portfolio

V BRAND NAME DECISION

Suggest something about benefits & qualities Easy to pronounce, recognize, and remember Be distinctive Translate easily into foreign languages Capable of registration and legal protection Lend itself easily to display and use in advertising

VI BRAND EXTENSION DECISION

Using a successful brand name to launch product modifications or new products

VII

MULTIBRAND DECISION

More shelf space Lack of loyalty (switchers) Excitement & efficiency in marketing company Different positioning/ separate following

VIII REPOSITIONING DECISION

Reposition old ones before new introductions Product change or image change Loyalty or new users

A product is something that is made in a factory; a brand is something that is bought by the customer. A product can be copied by a competitor; a brand is unique. A product can be quickly outdated; a successful brand is timeless.
Stephen King WPP Group, London.

Brand Equity
A set of assets:
Name awareness Loyalty and familiarity Perceived quality Platform for growth Premium pricing Barrier to competition Associations linked to the brand

Brand Value
A brands value is a financial representation of a business earning due to the superior demand created through the strength of its brand. In doing so, brand value becomes a key performance indicator for brand strategy and serves as the overall performance measure for all branding activity and investments.