brand/branding/brand hierarchy

all about brand/branding/brand hierarchy

1. BRAND/ BRANDING/BRAND HIERARCHY Submitted By : Parminder Kaur

2. BRAND MEANING : A  BRAND  is a name, term, design, symbol, or other feature that distinguishes an organization or product from its rivals in the eyes of the customer.

3. BRAND PYRAMID

4. FUNCTIONS OF BRAND Functions of brand to consumers : Identification of source of product Assignment of responsibility to maker Risk reducer Search cost reducer Promise/deal/bond with maker/product Symbolic device Signal of quality

5. Functions of brand to firms/business : Simplify handling/tracing Mean of legal protection Signal of quality level Source of competitive advantage Source of financial returns

6. TYPES OF BRAND

7. MANUFACTURER’S BRAND: When brand is named after the name of manufacturer of the brand. MIDDLEMEN’S BRAND : Under this, manufacturer doesn’t use any brand for his product; instead, middlemen sell the product under his name.

8. LOCAL BRAND : when brands are used for local market PROVINCIAL BRAND : when one brand is used for a particular province or state REGIONAL BRAND : when brand is used for a particular region NATIONAL BRAND : when brand is used for selling the product throughout a particular country INTERNATIONAL BRAND : when brand is used for selling the product in international markets

9. FAMILY BRAND: When a manufacturer uses a single brand for all his products and in all market segments. Example: all the products of Bajaj group PRODUCT LINE BRAND: When the business or industrial houses use different brand names for their different product lines. For example: Dalda is used for Banaspati Ghee product line

10. INDIVIDUAL BRAND: When individual product is marketed under different brand names, produces by the same manufacturer. For Example: Hindustan Liver Limited bear different brands for the different products in the same product line i.e. Lux , Lifeboy , Rexona etc.

11. BRAND HIERARCHY MEANING : A   brand hierarchy  is a means of summarizing the branding strategy by displaying the number and nature of common and distinctive brand elements across the firm’s products, revealing the explicit ordering of brand elements.

12. BRAND HIERARCHY

13. Corporate Branding It is the practice of using a company’s name as a product brand name. Example: IBM, Heinz, Coca-Cola

14. Family Brand When a group of products are given the same brand name. I.E. Different products of company are marketed under one name. Example: AMUL--- Amul milk, Amul butter, Amul cream

15. Individual Brand It is the marketing strategy of giving each product in a portfolio its unique own brand name. Example: Procter & Gamble--- Head & Shoulders, Rejoice, Pantene Etc.

16. Modifiers It refers to word, phrase or clause that functions as an adjective or adverb to qualify the meaning of other word.

17. BRANDING MEANING : The process involved in creating a unique name and image for a product in the consumers' mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.

18. BRANDING STRATEGIES Integrated Branding Independent Branding Line Branding Range Branding Umbrella Branding Endorsement Branding

19. Integrated Branding : Here, the retailer makes the decision regarding what kind of product he wants Independent Branding : Here, retailer is like the owner of the brand and holds complete responsibility for its performance Line Branding : The line responds to the concern of offering one coherent response under a single name by proposing many complementary products

20. Range Branding : It bestow a single brand name and promote through a single promise a range of products belonging to the same area of competence Umbrella Branding : It is a parent brand that appears on a no. of products that may each have separate brand images Endorsement Branding : It makes the product brand name more significant and corporate brand name is related to lesser status