Brand and Brand management

Brand and Brand management 

Brand

Content

What is Brand and definition of Brand

Reasons for Branding

Psychology of Branding

Concepts

Types of Brand

Branding Strategies

 

BRAND  

A brand is a name, term, design or other feature that distinguishes one seller's product from those of others.   

Brands are used in business, marketing, and advertising.   

Initially, livestock branding was adopted to differentiate one person's cattle from another's by means of a distinctive symbol burned into the animal's skin with a hot branding iron.   

A modern example of a brand is Coca-Cola which belongs to the Coca-Cola Company.

Reasons for branding   

It helps the purchaser to identify the article that he is buying   

Brands actually protect the buyer. As long as a buyer continues to purchase branded articles he is protected as to standards of quality and to some extent in the matter of price.   

Brands protect their owners by giving them a certain measure of control over the demand for the products.   

Brand names is a necessary addition to any form of demand-creation activity in which appeals to selective rather than to primary buying motives are stressed.   

The use of a brand name enables a manufacturer to add different products to his lines.

Psychology of branding   

The marketing researchers have studied the psychology of branding a product.

They have discovered the qualities a name should possess for greater effectiveness.

They include:

1. Associational value of a name

2. Memorizational value of a name

3. Descriptional value of a name

4. Repurchase value of a name

5. Motivational / promotional value of a name

Concepts   

Effective branding can result in higher sales of not only one product, but of other products associated with that brand.

Some peopledistinguish the psychological aspect (brand associations like thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand) of a brand from the experiential aspect. The experiential aspect consists of the sum of all points of contact with the brand and is knownas the brand experience.   

The art of creating and maintaining a brand is called brand management   

Orientation of an entire organization towards its brand is called brand orientation. Brand orientation develops in response to market intelligence.   

A widely known brand is said to have "brand recognition".

When brand recognition builds up to a point where a brand enjoys a critical mass of positive sentiment in the marketplace

Brand awareness   

Brand awareness is a customers' ability to recall and recognize the brand, the logo and the advertisements. It helps the customers to understand to which product or service category the particular brand belongs and what products and services sell under the brand name.   

Various levels of brand awareness include:-   

Top-of-Mind awareness: - Top-of-mind awareness occurs when a brand pops into a consumer's mind when asked to name brands in a product category.   

Aided awareness: - It occurs when consumers see or read a list of brands, and express familiarity with a particular brand only after they hear or see it as a type of memory aide.   

Strategic awareness: - It occurs when a brand is not only top-of-mind to consumers, but also has distinctive qualities which consumers perceive as making it better than other brands in the particular market.

Brand Elements   

Name: The word or words used to identify a company, product, service, or concept.   Logo: the visual trademark that identifies a brand.   

Tagline or Catchphrase: “Nokia – Connecting people” is associated with Nokia Mobile Company.   

Graphics: The "dynamic ribbon" is a trademarked part of Coca-Cola's brand.   

Shapes: The distinctive shapes of the Coca-Cola bottle and of the Volkswagen Beetle are trademarked elements of those brands.   

Colors: Owens-Corning is the only brand of fiberglass insulation that can be pink.   

Sounds: A unique tune or set of notes can denote a brand. NBC's chimes provide a famous example.   

Scents: The rose-jasmine-musk scent of Chanel No. 5 is trademarked.   

Tastes: Kentucky Fried Chicken has trademarked its special recipe of eleven herbs and spices for fried chicken.   

Movements: Lamborghini has trademarked the upward motion of its car doors.

Graphics Shapes Colours Sound Movement Tastes Scents

Brand

Brand Name   The brand name is quite often used interchangeably with "brand", although it is more correctly used to specifically denote written or spoken linguistic elements of any product. Relationship between trademarks and brand

 

Branding

Branding is assembling of various marketing mix medium into a whole so as to give you an identity.

It is nothing but capturing your customers mind with your brand name. It gives an image of an experienced, huge and reliable business.

It is all about capturing the niche market for your product / service and about creating a confidence in the current and prospective customers’ minds that you are the unique solution to their problem.

The aim of branding is to convey brand message vividly, create customer loyalty, persuade the buyer for the product, and establish an emotional connectivity with the customers.

Branding forms customer perceptions about the product.

It should raise customer expectations about the product. The primary aim of branding is to create differentiation.

 

Strong brands reduce customers’ perceived monetary, social and safety risks in buying goods/services.

The customers can better imagine the intangible goods with the help of brand name.

Strong brand organizations have a high market share.

The brand should be given good support so that it can sustain itself in long run.

It is essential to manage all brands and build brand equity over a period of time.

Here comes importance and usefulness of brand management.

Brand management helps in building a corporate image. A brand manager has to oversee overall brand performance.

A successful brand can only be created if the brand management system is competent.

 

Types of brand names   

Brand names come in many styles. A few include:   

Initialism: A name made of initials such, as UPS or IBM   

Descriptive: Names that describe a product benefit or function, such as Whole Foods or Toys R' Us   

Alliteration and rhyme: Names that are fun to say and stick in the mind, such as Reese's Pieces or Dunkin' Donuts  

 Evocative: Names that evoke a relevant vivid image, such as Amazon   

Neologisms: Completely made-up words, such as Wii or Häagen-Dazs.   

Foreign word: Adoption of a word from another language, such as Volvo or Samsung   

Founders' names: Using the names of real people, (especially a founder's name), such as Hewlett-Packard, Dell, Disney, Stussy or Mars   

Geography: Many brands are named for regions and landmarks, such as Cisco and Fuji Film   

Personification: Many brands take their names from myths, such as Nike   

Punny: Some brands create their name by using a silly pun, such as Lord of the Fries, Wok on Water or Eggs Eggscetera

Brand Identifier   

Open Knowledge Foundation (OKFN) created in December 2013 the BSIN (Brand Standard Identification Number).

BSIN is universal and is used by the Open Product Data Working Group of the Open Knowledge Foundation to assign a brand to a product.

The OKFN Brand repository is critical for the Open Data movement.

Brand Identity   

The outward expression of a brand – including its name, trademark, communications, and visual appearance – is brand identity.   

The identity is assembled by the brand owner, it reflects how the owner wants the consumer to perceive the brand – and by extension the branded company, organization, product or service.   Brand identity is what the owner wants to communicate to its potential consumers. For example, Visual Brand Identity .

 The visual brand identity manual for Mobil Oil one of the first visual identities to integrate logotype, icon, alphabet, color palette, etc.

Brand Image   

Brands are used for identification and for portraying images. Brand image may be priceless. Brands do not have life cycle like products.   

It pays to build strong brands by developing complex phenomenon that gets developed over a period of time due to repeated exposures, product use experience, word of mouth, competitive activity, and such other factors.

Brand Trust   

Brand trust is the basic 'believability' that any individual evokes.   

In the commercial world, the intangible aspect of Brand trust impacts the behavior and performance of its business stakeholders in many intriguing ways.   

It creates the foundation of a strong brand connect with all stakeholders, converting simple awareness to strong commitment.

Brand Parity   

Brand parity is the perception of the customers that some brands are equivalent.   

This means that shoppers will purchase within a group of accepted brands rather than choosing one specific brand.  

 When brand parity is present, quality is often not a major concern because consumers believe that only minor quality differences exist.   

For Example:- Different types of washing powders available in the market.

Types of Brands   

A useful classification of brand is one, which divides them into manufacturers’ brands and distributors’ or so-called Private brands.

Derived Brands Iconic Brand Social Media Brand Multi Brands Multiple Brands for Same Product Store Label Brands Private Label Blanket and Individual Brand National Brand Global Brand FMCG Brand Luxury Brand

Derived Brands   

In this case the supplier of a key component, used by a number of suppliers of the end-product, may wish to guarantee its own position by promoting that component as a brand in its own right.   The most frequently quoted example is Intel, which positions itself in the PC market with the slogan (and sticker) "Intel Inside".

Iconic Brands   

Iconic brands are defined as having aspects that contribute to consumer's self- expression and personal identity. Brands whose value to consumers comes primarily from having identity value are said to be "identity brands".   

Examples are: Apple, Nike and Harley Davidson.   Some of these brands have such a strong identity that they become more or less cultural icons which makes them "iconic brands".

Social Media Brands   

Social media brands may be the most evolved version of the brand form, because they focus not on themselves but on their users.   

In so doing, social media brands are debatably more captivating.   

In that consumers are compelled to spend time with them, because the time spent is in the meeting of fundamental human drivers related to belonging and individualism.   For example: Facebook, Whatsapp, etc

Multi-brands   

Alternatively, in a market that is fragmented amongst a number of brands a supplier can choose deliberately to launch totally new brands in apparent competition with its own existing strong brand (and often with identical product characteristics)   

The rationale is that having 3 out of 12 brands in such a market will give a greater overall share than having 1 out of 10   

This strategy is widely known as multi-brand strategy.   For Example, Procter & Gamble is a leading exponent of this philosophy, running as many as ten detergent brands in the market. This also increases the total number of "facings" it receives on supermarket shelves.

 Multiple Brands for same product   

Some manufacturers pursue a policy which involves establishing two or more brands covering the same class of goods.   

The most important reason for the use of multiple brands on the same type of product is the desire to reach all or a no of segments.   

For example, P&G marketed two brands of toothpaste (Gleem and crest), several brands of packaged household soap detergents such as Tide, Oxydol, Cheer, Duz, Dreft and Dash, Ariel etc. as well as multiple brands for other specific types of products.

Store- Label Brands   Stores are differentiating themselves.   

The objective is to use the brand images to lure shoppers away from just any store and force them to travel to a destination store.   

For example, The invasion of branded ready-mades during the eighties from Reliance, Bombay Dyeing, and Raymond Woolen and casual wear labels like Intershoppe and Weekender ensured that the store as brand-remain, building sub- brands can earn premiums.   

Since the retailer’s real objective is to increase margins, the shops are expanding their product port-folios and creating sub-brands under the umbrella of the name of the store.

Private Labels   

Private label brands, also called own brands, or store brands have become popular.   

Where the retailer has a particularly strong identity (such as Shoppers stop, Pantaloons, Big Bazaar in the merchandising sector)   

This "own brand" may be able to compete against even the strongest brand leaders, and may outperform those products that are not otherwise strongly branded.

Blanket and Individual Brands   

When a manufacturer produces two or more articles which are to be branded, it becomes necessary to decide whether the same brand commonly referred to as a “house” or “blanket” brand.   A blanket or house brand enables the buyer to identify all the products bearing that mark aids in establishing consumer recognition   

For example: Tang (owned by Mondelēz International )

National Brands   

There are brands adopted and sponsored by manufacturers and are commonly known as “Manufacturers” or “National” brands.

The most successful brand that have been adopted by manufacturers and pushed aggressively has been generally advertised on national scale.

Global Brands   

Brands which established their presence in a number of world markets with diverse products, customer groups and management base rich in international marketing experience.   

For example, P&G quickly flooded the Bombay market with its pamper brand of diapers to pre-empt the launch of Kimberly-Clark Lever Ltd.

FMCG Brands   

FMCG (Fast Moving Consumer Goods) goods are popularly known as consumer packaged goods.   

Items in this category include all consumables (other than groceries/pulses) people buy at regular intervals.   

The most common in the list are toilet soaps, detergents, shampoos, toothpaste, shaving products, shoe polish, packaged foodstuff, and household accessories and extends to certain electronic goods.   

The fast moving consumer goods (FMCG) segment is the fourth largest sector in the Indian economy.

Some of the leading FMCG companies in the world include   

Colgate-Palmolive Famous brands: Colgate toothpaste   

Coca-Cola Famous brands: Coca-Cola, Diet Coke, Fanta, Sprite   H. J. Heinz Famous brands: Heinz Tomato Ketchup   

Johnson & Johnson Famous brands: Johnson's Baby, Neutrogena, Acuvue, Listerine oral care   

L’Oreal Famous brands: L'Oreal Paris, Garnier, Maybelline New York   

Nestlé Famous brands: Nestle Pure Life, Nescafe, Nesquik, Kit Kat   

Procter & Gamble Famous brands: Ariel, Gillette, Pampers, Olay, Duracell, Pantene   RB (Reckitt Benckiser)

Famous brands: Dettol/Lysol, Air Wick, Veet, Vanish   Unilever Famous brands: Dove bodycare, Axe and Rexona, Fair & Lovely, Lakme, Ponds, Vaseline

Luxury Brands   

Luxury products which are not necessary but which tend to make life more pleasant for the consumer.   

In contrast with necessity goods, luxury goods are typically more costly and are often bought by individuals that have a higher disposable income or greater accumulated wealth than the average.   Luxury brands are often perceived as exclusive brands because they are unique.   

Luxury brands are special and stand out.   

They are connected with several characteristics, such as exclusivity, uniqueness, scarcity, premium price, excellent quality, and aesthetics.

 

 

Top 10 Luxury Brands in India  

 Louis Vuitton: - Founded in France on the 19th century, Louis Vuitton sells clothing, handbags, jewelry, shoes, and watches.   

Hermès: - Hermes is one of the grandest houses in the lexicon of luxury goods. Established in 1837 by Thierry Hermes as a fine harness-making business and today world-renowned for its handcrafted, exceptionally desirable (and expensive) leather goods, most notably its Kelly and Birkin handbags. The company has also become a major player in ready-to-wear fashion.   

Gucci: - Having risen from $8,602 mn in 2012, a 48 per cent jump makes Gucci the second fastest growing brand on this list. The House of Gucci sells Italian clothing and leather goods.   Prada: - The Prada brand was created in 1913 by Mr. Mario Prada and has since become one of the most prestigious and widely-recognized brands in the fashion and luxury goods industries.   Rolex: - Rolex is the renowned name in the world of luxury wrist watches. It created the world's first waterproof watch in 1926. Some of the world's most famous athletes pitch Rolex watches including: Tiger Woods, Phil Mickelson, Roger Federer and Lindsey Vonn.   

Chanel: - Chanel is a privately held company. The company makes clothes, fragrances, handbags and watches. The brand is most famous for its “little black dress”, the Chanel No. 5 perfume and the Chanel Suit.   

Cartier: - This brand sells primarily watches and jewelry.   

Burberry: - This is a British luxury brand that sells clothing and accessories, and is especially known for its trench coat.   

Fendi: - Fendi is known for staying a step ahead of emerging trends. This company was founded in Italy and started out selling leather and fur products. Now its line also includes watches, eyeglasses, and fragrances.   Coach: - This company specially known for its prestigious handbags.

 

Brand management -

Brand management  - begins with having a thorough knowledge of the term “brand”.

It includes developing a promise, making that promise and maintaining it.

It means defining the brand, positioning the brand, and delivering the brand.

Brand management is nothing but an art of creating and sustaining the brand. Branding makes customers committed to your business.

A strong brand differentiates your products from the competitors. It gives a quality image to your business.

 

Brand management includes managing the tangible and intangible characteristics of brand.

In case of product brands, the tangibles include the product itself, price, packaging, etc.

While in case of service brands, the tangibles include the customers’ experience.

The intangibles include emotional connections with the product / service.

 

 

 

Branding Strategies Company Name

Individual Branding

Attitude Branding

"No- brand" Branding

Destination Branding

Nation Branding

Crowd Sourcing Branding

Multibranding

Premium Branding

Private Branding

Mixed Branding

Individual and Organizational Brands

Brand Extension

Brand Dilution

Company Name   Often, especially in the industrial sector, it is just the company's name which is promoted   

This approach has not worked as well for General Motors, which recently overhauled how its corporate brand relates to the product brands.   

Exactly how the company name relates to product and services names is known as brand architecture.   

In this case a strong brand name (or company name) is made the vehicle for a range of products   

for example, Mercedes-Benz or Black & Decker or a range of subsidiary brands such as Cadbury Dairy Milk

 

 

Individual Branding   

Each brand has a separate name (such as Seven-Up, Kool- Aid or Nivea Sun (Beiersdorf), which may compete against other brands from the same company   

For example, Persil, Omo, Surf and Lynx are all owned by Unilever.

Attitude Branding   

Attitude branding is the choice to represent a larger feeling, which is not necessarily connected with the product or consumption of the product at all.   

Marketing labeled as attitude branding include that of Nike, Starbucks, The Body Shop, Safeway, and Apple Inc... The color, letter font and style of the Coca-Cola and Diet Coca-Cola logos in English were copied into matching Hebrew logos to maintain brand identity in Israel.

“No-brand” Branding   

Recently a number of companies have successfully pursued "no-brand" strategies by creating packaging that imitates generic brand simplicity.   

This no-brand strategy means that little is spent on advertisement or classical marketing and it is attributed through the word-of-mouth, a simple shopping experience , etc.   

"No brand" branding may be construed as a type of branding as the product is made conspicuous through the absence of a brand name.   

"Tapa Amarilla" or "Yellow Cap" in Venezuela during the 1980s is another good example of no-brand strategy. It was simply recognized by the color of the cap of this cleaning products company.

Destination Branding   

Destination Branding is the work of cities, states, and other localities to promote to themselves.   

This work is designed to promote the location to tourists and drive additional revenues into a tax base.   

These activities are often undertaken by governments, but can also result from the work of community associations.   

The Destination Marketing Association International is the industry leading organization.

Nation branding   

Nation branding is a field of theory and practice which aims to measure, build and manage the reputation of countries (closely related to place branding).   

Some approaches applied, such as an increasing importance on the symbolic value of products, have led countries to emphasize their distinctive characteristics.   

The branding and image of a nation-state "and the successful transference of this image to its exports – is just as important as what they actually produce and sell."

Crowd sourcing branding   

These are brands that are created by "the public" for the business, which is opposite to the traditional method where the business creates a brand.

Multibranding   A company can engage in Multibranding, which involves giving each product a distinct name.   

Multibranding is a useful strategy when each brand is intended for a different market segment.   

For example, P&G makes Camay Soap for those concerned with soft skin and safeguard for those who want deodorant protection.

 Premium Branding   

Premium Branding is the process of slotting a brand at the very top end of the market where it commands the highest price from a small segment among the consumers of that product category, by a high mark up on production cost.   

The premium of a brand is the value attached by consumers to unknown benefits and quality attributed.   

When this unknown becomes known the premium reduces.

 Private Branding   

A company uses private Branding often called Private labeling or reseller branding.   

When it manufactures products but sells them under the brand name of a wholesaler or retailer.   

Private branding is popular because it typically produces high profit for manufacturers and resellers.   

For example, Rayovac, Paragon Trade brands, and Ralcorp Holding are major suppliers of Private labels alkaline batteries, diapers, and grocery products respectively.   

Radio Shack, Sears, Wal-Mart and Kroger are large retailers that have their own brand names.

Mixed Branding   

A branding strategy where a firm markets products under its own name(s) and that of a reseller because the segment attracted to the reseller is different from its own market. Beauty and fragrance marketer Elizabeth Arden is a case in this point.   

The company sells its Elizabeth Arden brand through department stores and a line of skin care products at Wal-Mart with the “Skinsimple” brand name.

 Individual and Organizational Brands   

There are kinds of branding that treat individuals and organizations as the products to be branded.

Personal branding treats persons and their careers as brands.   

For example, Nation branding works with the perception and reputation of countries as brands.

Brand extension and Brand dilution   

The existing strong brand name can be used as a vehicle for new or modified products; for example, many fashion and designer companies extended brands into fragrances, shoes and accessories, home textile, home decor, luggage, (sun-) glasses, furniture, hotels, etc.   

For example, Mars extended its brand to ice cream, Caterpillar to shoes and watches, Michelin to a restaurant guide, Adidas and Puma to personal hygiene.   

The risk of over-extension is brand dilution where the brand loses its brand associations with a market segment, product area, or quality, price or cachet/ prestige.

 Introduction Fairy Tail – “We have all you look for”   

Meaning of fairy: A small imaginary being of human has magical powers, especially a female one.   

These fairy tail brand is only for young ladies. It includes all types of kurties like traditional, western and formal kurties, etc.   

Why I choose these logo?   

These logo shows the sign of “Fairy Tail” which actually means the magical lady with her tail, but here meaning of “Fairy Tail” is only related to magical Lady. Hence I choose this logo for my brand.   How it’ s related to my product?   

These logo is related to magical lady and the product which we are selling are only for ladies .

Hence it is related to my products.