branding ch1 - what is brand

7/28/2019 BRANDING Ch1 - What is Brand

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BRANDING

Ch1: What is brand?


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BRAND? (traditional definition)

brandis a name, term, sign, symbol or design or

combination of them to identifythe goods and

services from one seller and to differentiate themfrom their competitors

American Marketing Association (AMA)

Focus: tangible


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In industryBrand is something that has created

certain amount of awareness, reputation,

prominence etc in the marketplace.

Set of associations or known descriptions stored in

peoples mindFocus: intangible

BRAND? (new definition)


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Creating a brand

Choose anamestrategy

Create brandelements todifferentiate


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creating a brand: name

Can be different from company name strategies

1. Name: Estee Lauder, Porche

2. Under P&G: Pampers, Pantene

3. Places: Santa Fe cologne, British Airways4. Animals: Mustang, Dove, Tiger Airways

5. Others: Apple, Shell, Carnation

6. Inherent product meaning: Lean Cuisine ,100%Juice Blend

7. Important attributes: DieHard auto batteries, MrMuscle detergent


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Brand v. Product

Physical goods cereal, car,

Airlines, bank, etc

Satisfy customers needs/want

& solve solutions

More than a product

it has dimension tht diff

from other brands which

satisfy same need/solvesame problem

Rationale/tangible

Emotional/intangible

Performance some brand create

Competitive advantage with

Performance. e.g: Gillette leader

Strong brands sometimesHas created association

Outside marketers control

e.g: Coke taste heritage,

American icon

What brand represents

Understand consumers

Motivation & desires

Create appealing image

e.g: Coke, Channel no5


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TANGIBLE ATTRIBUTES

Product

Packaging

Labeling Attributes

Functional benefits

INTANGIBLE ATTRIBUTES

Quality

Emotional benefits

Value

Culture

Image

A brand comprises of

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Why does brand matter??

CONSUMERS

Risk & searchcost reducer

Identificationof source - xp

with samemaker

Assignment

ofresponsibility

to productmaker

Promise,bond or pactwith product

maker

Signal ofquality

Symbolic

device Consumer offer loyalty expectBrand to behave in certain way,

Provide utility tru consistent

Performance & right pricing &

distribution

- Satisfy cont buying


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Brand reduce risk in product decisions. Types of risk:-

1. Functional riskproduct doesnt perform as expected

2. Physical riskproduct poses a threat to the users physical well beingor health

3. Financial risk not worth the price paid4. Social risk results in embarrassment from others

5. Psychological riskaffects users mental well being

6. Time risk failure of product results in an opportunity cost of findinganother satisfactory product

Consumers can handle these risk, but best way is to buy wellknownbrands

Brands can change expectation and experience

Consumers life is more complicated and rushed ability of brand to

simplify decision making and reduce risk is invaluable

Why does brand matter??


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FIRMS

Identificationsimplify

handling andtracing

Legally protectunique

features

Signal ofquality level to

satisfycustomers

Endowproducts with

uniqueassociation

Source ofcompetitiveadvantage

Source offinancial

returns


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What can be branded??

brand

Physical goodsb2b, hightech Services

professional svces

Retailers &distributors

Online products &services

Ppl & organisations

Sports, arts andentertainment

Geographiclocations

Ideas and cause

branding ch1 - what is brand

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