Reflection:-4

In todays session we discussed how certain brands are successful? To name a few some of the strong brands include coca cola, Mc Donalds, apple, Toyota, etc. which has created a strong market presence across the globe. We discussed the brand of Aditya Birla as to how he has established his own empire which consists of visco staple fibers, mutual funds/life insurance, Insulators, apparel, BPO, mobile phone, fertilizers, cements, retail stores etc. In order to make any brand successful two types of communication is important .i.e. internal and external communication. Internal communication refers to the communication that that take place with the organizational system or with its employees e.g. Ex: Corporate culture of the company, HR policies and processes etc. and external communication refers to the communications with the shareholder, stake holders ,government with the external environment. Brand building involves all the activities that are necessary to nurture a brand into a healthy one. Branding is defined by many scholars- David Ogilvy says contribute to make the brand what it is in the minds of the consumer. David Aalen defines it as A company brand is the primary source of its competitive advantage and it is a very valuable strategic asset. Brand equity was what we discussed after the above mentioned definitions. When a commodity becomes a brand, it is said to have equity. It starts with a name and can go up or down depending upon the marketing activity that is done by the marketer. A name becomes a brand when consumer associates it with a set tangible and intangible benefit that they obtain from the product or service. Brand equity is a financial health of the brand. When a commodity become a brand , it is said to have equity. It starts with a name and can go up and down depending upon the marketing activity. A name becomes a brand when consumers associate it with a set of tangibles and intangibles benefits that they obtain from product or service.

Reflection:-6 (13th July)

In todays session we discussed about brand element that is what all elements are required to build a brand. Like for making a cake some ingredients are required in the same manner for building or making a brand some elements are required. The first element is choice criteria: Memorable recognition and recall The brand should be such designed that is recognised and recall by the consumers, or the customers are attracted towards the brand. Some catchy tagline and symbols are being used by the organization in making a brand memorable.

Meaningful this means persuasive is a brand and how it influences the buying decision. Likability it comprises of fun, visually and pleasing. The example of this can be fastrack, scooty pep. These both have some kind of appealing factor which attract the consumers. Transferability it means a new production line under the same brand name. The example of it is Tata cycles and Amul. Protect ability - legal and commutative

Major considerations for each type of brand element include: The other aspect of brand equity is naming criteria: brand names are important as is distinguishes one from another and also captures the central theme of a product. Naming specifies the description of the product, compounds-whether it is a single name product or combination or two e.g. coca cola, classical-includes the product base, arbitrary when there is no relation with the product they make e.g. Apple. Functions include how the name delivers the function of the product or service e.g. bake n shake serves baked products the name itself conveys its functions. Brand linguistic it refers to how the product are names keeping the product attributes in mind. Phonies-something sound of the brand, or the combination of words that reflects its features e.g. coca cola. Orthographic-where in no proper use of English language or abbreviations are used e.g. Amul kool, IBM ETC. Morphologic- Compound words used together e.g. Nike-just do it, Nokia connecting people. Semantic metaphor ,symbol or brands used as logo e.g. Ranolds, Zozo etc

URL domain names- helps locate pages on the web. Companies these days are carefully monitoring the web for unauthorized use of their brands. Logos and characters-visual elements and characters also play a critical role in building up a brand equity specially band awareness. Eg.logo-symbols (Nike), mnemonic (big bazaar-sabse sasta sabse accha). Characters-animated (zoo zoo), live action (Mr. Muscle). Slogans :-also contribute to band equity such as TATAs jago re campaign as it helps build brand awareness by playing off the brand name in some way.