Brand and branding
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Brand refers to a name, symbol or design used to identify a product or service. Key elements of branding include the brand name, brand mark, brand identity, image and equity. Branding strategies aim to leverage the brand name to effectively cover markets through associations, extensions and flanker brands. Sub-branding creates new brands under a parent brand while umbrella branding links sub-brands to a common brand. Flanker brands use different names for the same product. Brand extensions use the same name for new products.
Brand and branding
- 2. Brand Brand : A name, word, mark,symbol,device or a combination thereof, used to identify some product or service of one seller and to differentiate them from those of competitors
- 3. Brand Name :The part of brand consisting of a word, letter or group of words or letters that can be vocalized. Brand Mark :The part of brand consisting a mark, design, distinctive logotype , colouring scheme of picture used for purpose of identification. Brand Identity : It is unique set of brand associations the company aspires. It establishes a relationship between the brand and the customer by generating a value proposition involving functional, emotional and self expressive benefits. Brand Image : Customer perception about the brand is called brand image. Brand Equity : is a set of brand assets and liabilities linked to a brand.
- 4. Branding Strategy Leveraging the power of the brand name to cover the market more effectively Brand associations Why do we do it? Phenomenally expensive to create and promote a new brand name. Too many brands out there Increase productivity of current marketing programs
- 5. Sub-branding Creating new brands which are part of the parent brand family expressed as suffixes of the parent brand. e.g. Apple I-Pod, I-Pod Mini, I-Pod Shuffle and now the I-Pod Nano Sony , Sony Pictures , SonyVaio , SonyWalkman, Sony Music , Sony Bravia
- 8. Umbrella branding When you have many sub-brands, each linked to a common brand, then the common brand is known as the umbrella brand E.g. Sunfeast - Cookies ,Biscuits ,Cream, Pasta ,Noodles Tata Sumo,Tata Safari ,TataWinger ,Tata Indigo ,Tata Nano
- 11. Flanker Brand Different brand name same product Purpose: Pre-empt competition, cover the market more completely (protect your flanks) E.g. Sprite , Limca, Coke, Mazza and Fanta
- 12. Brand Extension Same brand name, new product line e.g. Reebok shoes and Reebok water. Nike shoes and Nike casuals. The concept of congruence determines the success of a brand extension strategy. E.g. Johnsons baby powder and Johnsons baby oil high congruence.
- 15. Line Extension Same brand name, different product in the same product line. E.g. IBM PCs and IBM laptops , Dell Line extensions are safer strategies than brand extensions since congruence is always higher.
- 17. Ingredient branding: Branding an ingredient of the main brand, which is often manufactured by a different company. E.g. Intel Inside is an ingredient brand on IBM, Dell, Compaq, etc.
- 19. Complementary Branding OR Co-branding when two or more mutually reinforcing brands get together to jointly promote themselves (one is not an ingredient of another).
- 20. Product-Market Matrix NEW OLD OLD NEW Product Market Diversification Brand extension Product Development Co-branding Ingredient branding Market Development Brand extension Line extension Market Penetration Sub-branding Flanker brands Co-branding