BRAND MANAGEMENT
SUBMITTED BY:SAPHALTA R. PALVE (M.M.S.- 1 st. yr.)
Introduction
Brand Brand equity Factors determining brand equity Roles of brand Scope of branding Brand equity model Building brand equity
Measuring brand equity
Managing brand equity Branding strategy
Customer equity
The explosion of choice facing the consumer has resulted in more and more investment being placed in brand and product development by manufacturers in order to capture the attention and loyalty of the consumer. Manufacturers have, for example, increasingly developed brands which are carefully targeted at specific, often very narrow consumer sectors, although, as we have noted, producers of branded products are often inexorably attracted to the branded products of their competitors and imitate as much as innovate when developing new products.
BRAND EXTENSIONS:A good number of firms adopt the strategy of brand extensions. Brand extensions is the process of extending an existing brand name to other brands in the same product category or in different product category . For instance : HUL has extended its brand name of Lifebuoy Soap To Lifebuoy Care, Lifebuoy Deofresh, Lifebuoy Nature, Lifebuoy Liquid Soap, and so on.
A brand is a name, term, sign, symbol, or design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. William Shakespeare may be wrong- whats in a name. Brand names make a lot of difference. For instance brand names like Mercedes, Nike, Toyota, Nokia, etc.,
Every brand has a value , and the value of a brand is Brand equity.
Definition :By Edward Tauber a set of brand assets and liabilities linked to a brand, its name and symbol, that add to or subtracts from the value provided by a product or services to a firm and/or to that firms customers.
BRAND
NAME
BRAND LOYALTY
BRAND EQUITY
QUALITY OF BRAND
OTHER ASSETS
BRAND ASSOCIATION
Brand identify the source or maker of a product and allow consumer either individuals or organization .
Consumers may evaluate the identical product differently
depending on how it is branded .
Brand helps to organize inventory and accounting records. Intellectual property right s ensure that the firm can safely
invest in the brand and reap the benefits of a valuable asset . can easily choose the product again.
Brands signal a certain level of quality so that satisfied buyers
One of the master marketers at creating brands is Procter &
Gamble .
It is a perceptual entity rooted in reality but reflecting
the perceptions of consumers .
Branding is endowing products and services with the
power of a brand .
Its all about creating difference between products .
Branding creates mental structures that helps
consumers organize their knowledge about products and services .
Relationships = What about you & me ? Response = What about you ? Meaning = What are you ? Identity = Who are you ?
Resonance Judgments Feeling
Performance Imagery
Silence
Intense , active loyalty Positive , accessible reactions Points-of-parity & difference Deep , broad brand awareness
The initial choices for the brand elements or identities
making up the brand (i.e. brand name , URLs , logos , symbols, characters , slogans , jingles , packages. ) Old spice uses bright red packaging & familiar ocean schooner icon to reinforce its nautical theme.
The product and services and all accompanying marketing
activities and supporting marketing programs Servo brand of engine oils from Indian oil corporation limited is the largest selling lubricant in India .
Other associations indirectly transferred to the brand by
linking it to some other entity (i.e. a person , place or thing )Airtel , the GSM mobile phone service from Bharati Airtel Limited, used A. R. Rahman, the well-known music composer , as a brand endorser in its company .
