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1、Final sessionByK AnandhiCII-IL,Brand Management,Brand,A name,term,symbol,design,or combination thereof that identifies a sellers products and differentiates them from competitors products.,An Effective Brand Name,Is easy to pronounceIs easy to recognize and rememberIs short,distinctive,and uniqueDes
2、cribes the product,use,and benefitsHas a positive connotationReinforces the product imageIs legally protectable,Branding,Benefits of Branding,Powerful asset/tool in establishing competitive advantage-translates into brand equity(the value of the company and brand names)Product identification!Consume
3、rs familiar with brandOften equates to qualityGlobal brand=20%of product sold outside home countryActs as an ambassador,Advantages of Branding,Consumers viewpointProduct quality and consistencyIncreased shopper efficiency/identificationCalls attention to new productsReduces psychological riskSellers
4、 viewpointHandling orders,tracking down problemsTrademark legal protection and unique product feature.Brand equity and brand loyaltyReduces need for in-store contactFacilitates segmentation,promotion,and pricing,The Worlds Most Valuable Brands,Brand StrategyLine ExtensionsBrand ExtensionsMultibrands
5、New Brands,Brand SponsorManufacturers BrandPrivate BrandLicensed BrandCo-branding,Brand Name SelectionSelectionProtection,Major Branding Decisions,Branding Strategies,Brand,No Brand,Manufacturers Brand,Private Brand,IndividualBrand,Family Brand,Combi-nation,IndividualBrand,Family Brand,Combi-nation,
6、Generic Brand,A no-frills,no-brand-name,low-cost product that is simply identified by its product category.,Manufacturers Brands VersusPrivate Brands,Individual Brands VersusFamily Brands,Four Brand Strategies,Line Extension,Development of a product that is closely related to one or more products in
7、 the existing product line but designed specially to meet the somewhat different needs of customers.,Brand extension,Extending the brand to another form of same product.(e.g.Toothpaste)Product Line extensions e.g.Saffola Oil.Reaching new categories Fairness creams to soap.Easy flow of soaps in the m
8、arketTwo Types:Upward brand extensions(upper market segment)Downward brand extensions(lower market segment).Ex.Nirma,Brand Rejuvenation,Process of revitalizing an ailing brand.E.g.Cadburys,Horlicks Three steps involved1.Discovery:process of identifying the company and what they mean to the customers
9、2.Innovation:shortcoming are removed and tested on loyal customers and wholesalers.3.expression:project positive image of the brand in the customers minds.Product Relaunch:Product launched after a time gap.,Brand Proliferation,It is an introduction of product with new brand names in the same product
10、 category.It is converse of brand extension.It helps to increase the market share of the product.Eg.HUL with different brand of same type of products.Disadvantage:Companys brands compete with each otherCompany has to divide the resources among these brands for their maintenance.The cost of distribut
11、ion,advertising,packaging and inventory costs also go up significantly.,Multibrands,Firms adopt multiple branding strategies to capture a greater market share by filling the gaps in the market and catering different buying pattern of the customers.Ex:nokia cell phone,BikeDisadvantage With the multi-
12、branding strategy is that the company may obtain a smaller market share of all the brands.,Cobranding,On Line,AOL,On Line,Co branding,Two or more brand names on the product or its packageIngredient brandingi.e.,Hero Honda recommending MRF tyresCooperative brandingAirline/hotel/credit card packagesBo
13、rrow on each others brand equityComplementary brandingAdvertised or marketed together to suggest usageCoco cola recommending kinley mineral water.,Brand Management,Brand equity:The goodwill(equity)that an established brand has built up over its existence.“DREK”-differentiation,relevance(strength)-es
14、teem,knowledge(stature)Brand concept:specific meaning that brand managers create and communicate to the target market.Brand concept management:the analysis,planning,implementation,and control of a brand concept throughout the life of the brand.Semiotics:Science of signsE.g HUL testing Power Brands(3
15、0),Packaging,Packaging,Activity of designing and producing the container or wrapper for a product.Packaging used to just contain and protect the product.Packing now has promotional value and marketers should:Establish a packaging concept,Develop specific elements of the package,Tie together elements
16、 to support the positioning and marketing strategy.VIEW Model,Packaging,Not just the container part of the on-going promotion/advertising#1 job is still containment/protection of product#2 Promote the productWay to differentiate from competitorsInform the customer(ingredients,size,etc.)Colors to cue
17、 customers(green=healthy)#3 Faciliate storage,use and convenienceAlso way to segment market(sugar in big crummy bag vs.carton=type of user,single servings,kid friendly/safe)#4 Facilitate recycling and reducing environmental damage,Labeling,Printed information appearing on or with the package(e.g.,Nu
18、trition Facts Panel)Performs several functions:Identifies product or brandDescribes several things about the productPromotes the product through attractive graphics.,Labeling,Packaging and Labeling,Persuasive:promotional first,and customer information is secondaryUse a logo or theme“New”,“improved”d
19、ont do as much for consumerInformational labeling:Help consumer make“right”choice and lessen possible cognitive dissonancei.e.,nutrition labels,care information,construction standards,etc.,Universal Product Codes,A series of thick and thin vertical lines(bar codes),readable by computerized optical scanners,that represent numbers used to track products.,UPCs,Any doubts?,
