BRANDING ELEMENTS AND STRATEGIES. BRANDING DECISIONS A brand is a name, term, symbol, or any other...

BRANDING ELEMENTS AND STRATEGIES

BRANDING DECISIONS

A brand is a name, term, symbol, or any other unique element of a product that identifies one firm’s product(s) and sets it apart from competitionBrand Mark

• is the part of the brand that is a symbol or design.

Trade Name

• Identifies the company or a division of a particular corporation

Trade Character

• Brand Mark with human form or characteristics

Trademark

• Brand name, brand mark, trade name, trade character, or combination of these that is legal protected by the government

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IMPORTANCE OF BRANDS IN PRODUCT PLANNING FOR SEVEN REASONSBuilds Loyalty

Satisfies

Easily recognized

Quality

Address new markets

Help when introducing a new product

Establishes image

Brands should

• be memorable• have a positive connotation• convey a certain image

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BRANDING STRATEGYBrands are powerful assets that must be carefully developed/managed.

Brands with strong equity have many competitive advantages:

• High consumer awareness • Strong brand loyalty• Helps when introducing new products• Less susceptible to price competition

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BRAND PREFERENCE

Coke; 46.70%

Pepsi; 44.70%

Other; 8.60%

Coke

Pepsi

Other

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BRAND STRATEGY

Brand Positioning

Brand Name Selection

Brand Sponsorship

Brand Development

Three levels of positioning:

• Product attributes• Least effective

• Benefits• Beliefs and values

• Taps into emotions

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Key Decisions

BRAND STRATEGY

Brand Positioning

Brand Name Selection

Brand Sponsorship

Brand Development

Good Brand Names:

• Suggest something about the product or its benefits

• Are easy to say, recognize and remember

• Are distinctive• Are extendable• Translate well into other

languages• Can be registered and legally

protected

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Key Decisions

BRAND STRATEGY

Brand Positioning

Brand Name Selection

Brand Sponsorship

Brand Development

Manufacturer brands

Private (store) brands

• Costly to establish and promote

• Higher profit margins

Licensed brands

• Name and character licensing has grown

Co-branding

• Advantages / disadvantages

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Key Decisions

BRAND STRATEGY

Brand Positioning

Brand Name Selection

Brand Sponsorship

Brand Development

Line extensions• Minor changes to existing

products

Brand extensions• Successful brand names

help introduce new products

Multi-brands• Multiple product entries in a

product category

New brands• New product category

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Key Decisions

MORE STRATEGIESBrand Licensing

• Legal authorization by a trademarked brand owner to allow another company to use its brand mark, trade character for a fee.

Mixed-Brand strategy

• offer a combination of manufacturer, private distributor, and generic brands.

Co-Branding

• Combines one or more brands to increase customer loyalty and sales for each individual brand.

BRAND STRATEGY

Flavors

Colors

Forms

Ingredients

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Line Extensions May Feature Different:

• Package Sizes

HOW 15 OF THE WORLD'S TOP BRANDS GOT STARTED

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