Brand Management

Unit - I

Concept of a brand
Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers. American Marketing Association Brand awareness refers to customers' talent to recall and recognize the brand under different conditions and link to the brand name, logo, jingles and so on to certain associations in the memory.

History of brand
Owners wanted to distinguish their product from the rest The Italians were among the first to use brands, in the form of watermarks on paper in the 13th century Another branding technique used was the hot iron stamp on cattle

Brand Name
used to specifically denote written or spoken linguistic elements of any product A "brand name" constitutes a type of trademark, if the brand name exclusively identifies the brand owner as the commercial source of products or services The brand owner may seek to protect proprietary rights in relation to a brand name through trademark registration and such trademarks are called "Registered Trademarks"

Types of brand names

Acronyms
Name made of initials

Descriptive
Name that describes the brand or function

Evocative
Name that evoke a relevant vivid image

Types of brand names

Neologisms
Completely made up words

Foreign words
Non-English terms used as brand names

Founders name
Use the founders name as brand name

Types of brand names

Geography
Many brands are named after regions / landmarks

Personification
Many brands take their names from myth

Brand continuum
Different types of brands
Products Simple brands Silent brands Strong brands Generic brands

Types of brands
Products
What suppliers sell to customers Mainly unbranded Vegetables, Atta, etc

Types of brands
Simple Brands
A name with no benefits or associations attached with it When given the name, people draw a total blank Usually have low brand awareness Eg: Fluoron

Types of brands
Silent Brands
A name with associations, but no reasons to buy Often people are aware of it, but cannot differentiate between brands Eg: Salt, Emtec Cds

Types of brands
Strong Brands
A name to which a unique, relevant and motivating associations and benefits are attached Liked by most people High brand awareness ratings Eg: Moov, Coca-Cola

Types of brands
Generic brands
Most customers use the brand name to describe the product category Very strong brands Eg: Champagne

Which type do these brands belong to?

Dalda Rasna JCB Sugar Colgate Jeep

Amul Jet Airways Disney Tata SRF Kellogg's Bisleri

Xerox Ranipal Kirloskar Castrol Britannia Intel Doordarshan

Brand v/s Product

Product
Anything we can offer to a market for attention, acquisition, use, or consumption that may satisfy a need or want.

Brand
A brand is more than a product, because it can have dimensions that differentiate it in some way from the products designed to satisfy the same need.

Five levels of meaning for a product

Core benefit level
The fundamental need / want that the consumers satisfy by consuming the product or service Musical entertainment on the move

Five levels of meaning for a product

Generic product level
Basic version containing only those attributes / characteristics which is absolutely necessary for its functioning, but with no distinguished features Ability to play music downloaded from the internet / CDs

Five levels of meaning for a product

Expected product level
Set of attributes / characteristics that buyers normally except and agree to when they purchase a product Solid state device, with good memory, compact in size

Five levels of meaning for a product

Augmented product level
Additional product attributes, benefits or services that distinguish itself from its competitors Optional features like color LCD screen, audio equalizer, capacity to store non-audio files

Five levels of meaning for a product

Potential product level
All augmentations and transformations that a product might ultimately undergo in the future Voice controlled menu, infinite life batteries

Brand benefits to consumers

Brand allows the consumer to lower the search cost for products internally and externally Identification of the product Risk reduction Promise, bond or pact with the maker of the product Symbolic device

Risk reduction
Functional risk
does not perform up to expectations

Physical risk
Poses a threat to the physical well-being or health of the user or others

Financial risk
Not worth the price paid

Risk reduction
Social risk
Results in embarrassment from others

Psychological risk
Affects the mental wellbeing of the user

Time risk
failure of the product results in an opportunity cost of finding another satisfactory product

Brand benefits to firms

Identification, thereby simplifying handling and tracing effort Legal protection for unique features IPR and trademarks assure that the firm can invest on the brand and reap the benefits from the brand A symbol of quality

Brand elements
Also called brand identities Those trademark-able devices that serve to identify and differentiate the brand Includes brand names, URLs, logos, symbols, characters, spokespeople, slogans, jingles, packages and signage

Brand Elements
Main uses
To enhance brand awareness Encourage strong brand associations Positive brand judgments and feelings Value addition

Criteria for choosing brand elements

Memorability
Easily recognised, easily recalled

Meaningfulness
Descriptive and persuasive

Likability
Pleasing, fun, interesting, rich visual and verbal imagery

Criteria for choosing brand elements

Transferability
Across various categories, geographic boundaries and culture

Adaptability
Flexible and updatable

Protectability
Legally and competitively protectable

Options and tactics for brand elements

Brand Names
It captures the central theme or key associations of a product in a very compact and economical fashion Extremely effective shorthand means of communication Most difficult thing to change

Options and tactics for brand elements

Brand Names
Names that are simple or easy to pronounce / spell, familiar and meaningful, and different, distinctive and unusual can improve the brand awareness

Options and tactics for brand elements

Brand Names
Simplicity & Ease of pronunciation / spelling
Simple and short names, clearly understandable Coca cola Coke Chevrolet Chevy Budweiser Bud

Options and tactics for brand elements

Brand Names
Familiarity and meaningfulness
Name should be familiar and meaningful so it can tap into existing knowledge structures Can be names of people, place, fruit, bird, animal etc

Options and tactics for brand elements

Brand Names
Differentiated, distinctive and unique
Meaningful word can improve the recallability, a distinctive name can help the brand to recognize it from others Xerox, Exxon etc.

Options and tactics for brand elements

URLs
Domain names and web pages Challenge is to protect the unauthorized use of the names as domains Also search for the web existence, during rebranding

Options and tactics for brand elements

Logos and symbols
Visual elements do play a critical role in building brand equity The non-word mark logos are called symbols Strong word-marks and no symbols
Coca Cola and Kit Kat

Abstract Logos
Merc, Nike, Olympic rings

Options and tactics for brand elements

Characters
Represent a special brand symbol Normally introduced through advertisements Gets attention due to richness in imagery Highly helpful in brand awareness Eg: Kellogs Vodafone

Options and tactics for brand elements

Slogans
Short phrases that communicate descriptive or persuasive information about the brand Often appear in ads, also found on packages Extremely efficient means to build up brand equity Just Do It The Citi never sleeps

Options and tactics for brand elements

Jingles
Musical messages written around the brand Normally composed by professional song writers, musicians etc. Consumers mentally rehearse or repeat the jingle, even after the ad Some jingles repeat the brand name in clever and amusing ways

Options and tactics for brand elements

Packaging
Activities of designing and producing containers or wrappers for a product

Options and tactics for brand elements

Objectives of packaging
Identify the brand Convey descriptive and persuasive information Facilitate product transportation and protection Assist at-home storage Aid product consumption