BRANDING

Brand is a name, term, symbol or design to identify the goods or services and to differentiate them from those of the competitors Branding is the process of stamping or giving a product with some identifying name or mark or symbol or combination of these.

FUNCTIONS OF BRANDING
Product Differentiation Advertisement Better Quality of Goods Protection of Goods Protection of Consumer Interest Bridge Between Seller and Buyer

A Brand is any...
name... Coca-Cola term Coke

design

sign symbol or combination

that distinguishes a product from its competition.

Advantages
To the Manufacturers 1. Distinctiveness 2. Publicity 3. Protection 4. Wide Market 5. Brand Loyalty 6. Market Segmentation

To Whole Salers and Retailers 1. Good Will 2. Quality 3. Advertisement 4. Higher Turnover 5. Ease of Sale

 1. 2. 3. 4. 5. 6. 7.

To Consumers Indication of Source Easy to Shop Consistent Quality Psychological Satisfaction Uniform Price Status Packaging

Disadvantages
Brand Development costs money, and product price tend to move up Unscrupulous manufacturers may reduce quality of the product and still charge the same price Chance for Cheating (By Using similar names or Pictures of Well known brands) Cultural factors

Characteristics of Good Brand Names

A good brand name should: be protected (or at least protectable) under trademark law be easy to pronounce be easy to remember be easy to recognize be easy to translate into all languages in the markets where the brand will be used attract attention suggest product benefits (e.g.: Easy-Off) or suggest usage (note the tradeoff with strong trademark protection) suggest the company or product image distinguish the product's positioning relative to the competition. be attractive stand out among a group of other brands

Branding Decision
Brand Sponsor Decision (Manufacturer/Distributor) Brand Name Decision Types of Brands: 1. Individual Brand Name (HUL- Lifebuoy, Lux) 2. Blanket Family Name (Sony- T.V, Video Players) 3. Separate Family Name (Reliance; Vimal for sarees & Suitings, Legacy for ready mades) 4. Company Trade Name with Individual Product Name( Tata Salt, Tata Tea, Tata Steel)

Classification of brand one the basis of value they offer

Functional brand Emphasize on the functional value of their offer Highlights the efficiency of product features Offer to do a good job and serve as basic function for which they are bought Support product related efficiencies as well as cost efficiencies Eg: Tata Nano

Image brand
Offer image value to the users Premise here is that by owning or using this brand you are catepultated to a certain league which you aspire to belong to Eg : parker Pen, coco-cola . pepsi

Experience brands
provides unique experience to the user delivery of a personal experience is the brand promise . Eg: king fisher

 Brand Strategy Decision 1. New Brand Name each time 2. Brand Extension (Lifebuoy gold, Lifebuoy liquid, Lifebuoy Personal) Brand Repositioning Brand and Customer Relation Brand and Sponsor Decision

Selecting Brand Name

Characteristics : Distinctive easy to pronounce ,recognise and remember Appealing denote something about the nature /function /overall claim .

Approaches in selecting brand name

1. Names communicating the functions /attributes Eg: good night , fair & lovely 1. Names communicating a specialty /halo around the mind , firms build a grandeur around their product through the chosen brand name 2. Use of Acronyms 3. Use of company names

Desirable Conditions for Branding

There must be widespread supply of the Product The Quality and Standard of the Products must be maintained regularly Enforcement of product identification and differentiation by brands must be strictly adhered to

Undesirable Characteristics of Branding

Branding which is contradictory to the law Which contains scandalous or obscene matter Which hurts the religious sentiments Which is similar to the existing one

Dos& Donts in Logo selection

Check whether the logo suits the category Must be simple Capable of easily communicating ease of reproduction Current /enduring relevance Must enhance relevance to the brand Must aid brands pulling power It must be unique and flexible it must be media- friendly it must not distract and take the attention away from the brand it must aid brands pulling power

Options in branding
Adopt individual brand name for each individual product Adopt family brand name for group of related products Adopt a single umbrella brand name for all products of the company Adopt company name as brand name