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1、.,Final session By K Anandhi CII-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 pronounce Is easy to recognize and remember Is short, distincti

2、ve, and unique Describes the product, use, and benefits Has a positive connotation Reinforces the product image Is 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)

3、 Product identification! Consumers familiar with brand Often equates to quality Global brand = 20% of product sold outside home country Acts as an ambassador,.,Advantages of Branding,Consumers viewpoint Product quality and consistency Increased shopper efficiency/identification Calls attention to ne

4、w products Reduces psychological risk Sellers viewpoint Handling orders, tracking down problems Trademark legal protection and unique product feature. Brand equity and brand loyalty Reduces need for in-store contact Facilitates segmentation, promotion, and pricing,.,The Worlds Most Valuable Brands,.

5、,Brand Strategy Line Extensions Brand Extensions Multibrands New Brands,Brand Sponsor Manufacturers Brand Private Brand Licensed Brand Co-branding,Brand Name Selection Selection Protection,Major Branding Decisions,.,Branding Strategies,Brand,No Brand,Manufacturers Brand,Private Brand,IndividualBrand

6、,Family Brand,Combi-nation,IndividualBrand,Family Brand,Combi-nation,.,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 Exte

7、nsion,Development of a product that is closely related to one or more products in 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.

8、Saffola Oil. Reaching new categories Fairness creams to soap. Easy flow of soaps in the market Two 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 T

9、hree steps involved 1. Discovery: process of identifying the company and what they mean to the customers 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

10、 after a time gap.,.,Brand Proliferation,It is an introduction of product with new brand names in the same product 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 c

11、ompete with each other Company has to divide the resources among these brands for their maintenance. The cost of distribution ,advertising, packaging and inventory costs also go up significantly.,.,Multibrands,Firms adopt multiple branding strategies to capture a greater market share by filling the

12、gaps in the market and catering different buying pattern of the customers. Ex: nokia cell phone, Bike Disadvantage With the multi-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

13、 product or its package Ingredient branding i.e., Hero Honda recommending MRF tyres Cooperative branding Airline/hotel/credit card packages Borrow on each others brand equity Complementary branding Advertised or marketed together to suggest usageCoco cola recommending kinley mineral water.,.,Brand M

14、anagement,Brand equity: The goodwill (equity) that an established brand has built up over its existence. “DREK” - differentiation, relevance (strength) - esteem, knowledge (stature) Brand concept: specific meaning that brand managers create and communicate to the target market. Brand concept managem

15、ent: the analysis, planning, implementation, and control of a brand concept throughout the life of the brand. Semiotics: Science of signs E.g HUL testing Power Brands(30),.,Packaging,.,Packaging,Activity of designing and producing the container or wrapper for a product. Packaging used to just contai

16、n 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 to support the positioning and marketing strategy. VIEW Model,.,Packaging,Not just the container part of the on-going prom

17、otion/advertising #1 job is still containment/protection of product #2 Promote the product Way to differentiate from competitors Inform the customer (ingredients, size, etc.) Colors to cue customers (green = healthy) #3 Faciliate storage, use and convenience Also way to segment market (sugar in big

18、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., Nutrition Facts Panel) Performs several functions: Identifies product or brand Describes several things

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