MAR 3023 PRINCIPLES OF MARKETING

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MAR 3023 PRINCIPLES OF MARKETING

• Dr. Jaishankar Ganesh
• BA2 308G
• Branding Issues Strategies
• October 20, 2003

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Brand
A name, term, symbol, design, or combination
thereof that identifies a sellers products and
differentiates them from competitors products.
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Branding Terms

• Brand an identifying name, term, or symbol
• Brand Name part of a brand that can be spoken
• Brand Mark symbolic-The elements of a brand
  that
  
• cannot be spoken.
• Trademark legal designation of the exclusive
  use of brand
  
• Trade Name Commercial, legal name

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Trademarks

• Many parts of a brand and associated symbols
  qualify for trademark protection
  
• The mark has to be continuously protected
• Rights continue for as long as it is used

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Trade Name
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Types of Brands

• Manufacturer Brands
• Private Brand OR Retailer/Store Brands
• Captive Brands
• Generic Brands

Battle of the Brands
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Four criteria for pickinga good brand name
Describe product benefits
Be memorable, distinctive, and positive
A good brand name should . . . .
Fit the company or product image
Have no legal restrictions
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Good Brand Names
Become distinctive
Are free from poor foreign language meanings
Suggest product qualities
Suggest product benefits
Are easy to pronounce, recognize, remember
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Selecting a Brand Name

• Easy to Say, Spell, and Recall
• Tide, Crest, Cheer
• Major Benefit(s) Indicated
• Mr. Clean, I Cant Believe Its Not Butter
• Suggest Products Use(s) and Special
  Characteristics
  
• Healthy Choice, Word Perfect
• Avoid Negative/Offensive Connotations
• Nova
• Distinctive
• Nike

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Value of Branding

• To Buyers
• Product Identification
• Quality assurance
• Rewards / Risks
• To Sellers
• Immunity from Counterfeiters
• Loyalty

Favorable attitude towards a brand
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The Worlds Most Valuable Brands
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Brand Loyalty

• Price premiums
• Resistant to competition
• Positive word of mouth

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Brand Loyalty Pyramid
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Brand Equity
BRAND EQUITY . . . . The added value a given bran
d provides a product beyond the functional
benefits provided.
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Brand Equity

• Name Awareness
• Perceived Quality
• Brand Associations
• Other Brand Assets (logo, slogan, etc.)
• Brand Loyalty

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Perceived Brand Quality
Brand Associations
Brand Loyalty
Other Brand Assets
Brand Name Awareness
XEROX
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Brand Name Protection

• Registration
• Guard Against Generic Use Genericide - Aspirin
• Protect Against Counterfeiting

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Branding Strategies
Brand
No Brand
Manufacturers Brand
Private Brand
IndividualBrand
Family Brand
Combi-nation
IndividualBrand
Family Brand
Combi-nation
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Alternative branding strategies
Branding strategy
Manufacturer branding strategy
Family/Blanket branding strategy
Sunbeam makes Sunbeam irons Sunbeam toasters
Sunbeam crockware GE makes TV VCR Microwav
e Washer/Dryer
Individual/ Multi-brand strategy
Anheuser-Busch makes Budweiser Busch Michelo
b Wurtburger Hofbrau Procter Gamble makes
Tide Cheer Ivory Snow Oxydol
Private branding McClarks Bar-B-Cue Sauce
Kroger has Store brands for various
products Sears has Kenmore appliances Crafts
man tools
Combination/ Mixed branding strategy
Honda makes Accord Civic Prelude S-2000 Od
yssey Kelloggs makes Rice Krispies Raisin B
ran Corn Flakes
Generic/No branding strategy Dog food Peanut b
utter
Green beans Paper towels Aspirin Cola
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Product Extensions
Line extension . . . .
The use of a current brand to enter a new market
segment in its product class
Brand extension . . . .
The use of a current brand name to enter a
completely different product class
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Cobranding
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Product Bundling

• Perception of Value
• Ease of Information Processing
• Reduction in Perceived Risk
• Ability to control smoothen demand