Chapter 4 :- Brand Management:- VPmarketing

Chapter 4 :- Brand Management :-VPmarketing

Brand has occupied very significant place in the the field of marketing management

It is the name of the product to

1. identify it from the rest of the products

2. Or to identify it as a product itself

Whenever we go to  any shop or any retailer we ask for specific brand even if you want to purchase a tea powder we ask for specific brand and not generic product that is the importance of brand

brand management is the application of marketing techniques to specific product,  product line or form of the product

Over period of time brand has become extremely important

The value of the brand is determined by the amount of profit it generates for the manufacturer

This results from a combination of increased sales and increased price

We called that as a brand value brand recognition brand popularity

History of Brand:- 

brands in the field of marketing originated in the 19th century with the advent of packaged goods

There are no frontiers/ boundaries for the products now

Earlier we used to remember brand from the country of origin but nowadays it's not the same situation

Companies now has become multinational

What is a good brand name

1. Brand should be legally protectable

You can have a patent call trade mark or copyright for your brand at pay some fees your brand will be protected nationally and internationally

That brand will be identified by manufacturer only

2. Brand should be easily pronounced

3. Brand should be easy to remember

4. Brand should be used to recognise

Packaging and labelling of the brand should be so distinct & so unique that it should be easily recognise from a distance and by lay /common people

Lot of marketing research has been done by MNC companies

Billions of dollars are spent on finding out which are the colour, design , packaging are unique and customer friendly while identifing  brand

This is your brand recognition has been attained

In a countries where literacy rate is low brand should be identified by colour or packaging or size or design etc

5. Brand should be such that it attracts attention

When we go to you see shelf display product or brand should attract 

Customer towards that brand

Attention or attraction is the beginning of an idea

Concept of AIDA

A for attention

I for interest

D for desire

A for action

6. Good brand name should suggest product benefits or suggest usage

Just looking at the product or packaging customer should able to to make out what are the product benefits for product usage

7. Branch should have distinguished product's position relative to the competitors

We as a marketing manager are going ahead in setting for the process of thinking among customers

Premium brand

Premium brand typically cost more than other products in the category

On the premium brand we spend lot of money / extra cost to create it (premium brand/

In all the products we have at least one premium brand it is called super quality brand

Common brand

it is the brand quality wise accepted by general masses or people

Fighting brand

fighting brand is a brand created specifically to counter a competitive threat

A product or brand launched against the competitors brand or a product to counter its effect in the market

Corporate brand

when company's name is used as a product brand name, this is referred to as corporate branding

Like tube light air conditioning is named by there company name

Family brand

when one brand name is used for several related products this is referred to as family branding

An individual brand

when all products are given different brand names this is referred to as individual branding

Individual branding is also called functional branding

Many companies in the world keep one brand name for one product line and they have several such brands for several product lines (one for each product line)

It is also called product line branding

Retail branding

When large retailers buy products in bulk from manufacturers and put their own brand name on them this is call private branding, store brand, or private label

Co-branding

when two or more brands work together to market their products this is referred to as co-branding

Brand licensing-

When a company sells the rights to use a brand name to another company for use on a non competitive products or in another geographical area this is referred to as brand licensing

Branding policies

You have to first recognise that you have certain brand

Certain brand has been selected by you

Many a times brand name is not acceptable because it has different meanings in different languages and different cultures

We should take care that  brand should not have different meaning in different languages, by pronunciation phonetics (resemblance in sound /pronunciation) or by culture

Name of the brand

1. Select the name

2. Check the name Universally

3. Relation of the  brand name with the functions of the product

Like detergent can be named and focus should be as tide or form or  delicate hands or freshness or save colurs etc

Select among individual branding and family branding and product line branding

Corporate/family branding

Company name can be given to all the products company manufacturing

Like company name can be given to do all cloth washing detergent products

Or all soaps

There are some brands which are there in the market because of these brands a country of origin is identified

Like Honda is for Japan

Suzuki is for Japan

Samsung is for South Korea

Hyundai is for South Korea

Some automobile car brands for Germany

some products are identified by their brand and we nomore call them by their product name

Like Colgate nirma dalda ponds

Parachute hair oil , McDonald, dominos, Google, Facebook, WhatsApp, Apple, Kodak, Cadbury, etc.

Brand itself is identified by the product or for its function

Brand extension

brand extension is the existing strong brand name can be used as a vehicle for new or modified products

Suppose we are preparing a soap particular colour and fragrance 

So we can extend this brand to some more colours and some more different fragrances

If for some reason brand extension may not be successful then it will also delete the identity of the original brand

The extended brand without success will have the original products or brand

in such cases of brand extension failure its impact will be damaging to a large extent

Multibrands

in extreme manifestation a supplier pioneering a new market which it believes will be a particularly attractive may choose immediately to launch a second brand in competition with its first in order to pre-empts others entering the market

In multi brand there is less likely that failure of one brand it will impact the other harmfully

Summary of branding

Brand should be easy to pronounce

Easy to remember

Easy to protectable legally (copyright)

Brand name should have very clear phonetic that is sound pronunciation and its different negative meaning

Branding should be easy simple to pronounce & understand

Many companies or manufacturer have changed their name and logo and associated characteristics

Example

Airtel

Various banks like

 Bank of Baroda

Axis Bank after UTI 

Union Bank

Hero motocorp after hero Honda

Be careful while branding

Family branding is good for or fast expansion of product and product lines

brand /branding is very significant and its massive world in itself

Brand management as a subject itself has got enormous magnitude