CHAPTER NO. 01 BRAND AND BRAND MANAGEMENT . BY: Mr.

Adil Adnan

Brand

AMA defined brand as a brand is a name, term, sign, symbol, or design or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors

Technically speaking when a marketer creates new name, logo or symbol for a new product, he or she created a brand

Brand and Brand Management

Brand Elements
The different components of a brand (names, symbols, attributes, package design) that differentiate a product is called brand elements. Company Name represent all products like General electric, Hewlett-Packard Manufacturer assign different names like Procter and Gamble Pampers, Pantene Retailers creates their own brands like Wal-Mart in USA and ASDA in England Some brand names are based on names like Habib Bank Ltd, Some are based on places like Khyber bank, PIA, British Airways

Brand and Brand Management

Brand Elements

Some brand names that use words with inherent product meaning like Just Juice Some suggest important attribute or benefits like Mop & Glo floor cleaner Other brand names are made up and include prefixes and suffixes that sound scientific, natural, or prestigious For example Intel micro processors, Compaq Computers

Brands Vs Products

Philip Kotler a product is any thing that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need or want.

Thus a product may be physical good like Cereals, automobile, Or Service that is an airline, bank or insurance company Or Person like Doctor, Political figure Or organization like non profit organization or trade organizations Or Idea like political or social cause

Brands Vs Products

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Kotler defines five levels to a product Core benefits satisfaction of basic need and want of customer e,g Air conditioner: Cooling and comfort Generic product Level - Those attributes are necessary for product functioning with distinguish features e,g sufficient cooling facility, adequate air intake and exhaust etc The expected product level Set of attribute or characteristic that buyer normally expect e,g Consumer reports stated that for a typical racing car, consumers have high speed performance expectations supported by luxurious interior and stylish exterior.

Brands Vs Products
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The augmented product level Additional product attribute, benefits or related service distinguish from competitors e,g Optional features may include electric touch-pad controls, display to show indoor and out door temperature etc. Nokia touch and type phone. The potential product level Include all of the augmentation and transformations that a product might ultimately undergo in the future e,g silent running, completely balanced throughout the room, and energy self sufficient. Blue gene computers.

Brands Vs Products

Brand

For example a physical good like Nestle Corn Flakes Cereal, A service like PIA service, Habib Bank A Store like Avon Super store, Walmart Superstore A person like Musharaf, Imran Khan, Tom Cruise A place like The city of Karachi, the city of London An Organization like the Iqra University, Red Cross

A brand is therefore a product, but one that adds other dimensions that differentiate it in some way from other product designed to satisfy the same need. The differences may be rational, tangible or intangible

Why do brands matter?

Why are brands important? What functions do they perform that makes them valuable to marketers? The answer is brand playing various roles to both firm and consumers Consumers

Identification of source of product Assignment of responsibility to product maker Risk reducer Search cost reducer Promise, bond or pact with maker of product Symbolic device Signal of quality

Why do brands matter?

Manufacturer
Means of identification to simplify handling or tracing Means of legally protecting unique features Signal of quality level to satisfied customers Means of endowing products with unique association Source of competitive advantage Source of financial returns