Brand Management

Meaning of Brand.Elements,Function,Brand Management,Elements,Responsibilities,Process, types of Brand,Branding Decisions

1. BRAND MANAGEMENT PREPARED BY Ms.C.JISSY DEPARTMENT OF COMMERCE (IB)

2. Unit I Introduction- Basic understanding of brands – concepts and process – significance of a brand - brand mark and trade mark – different types of brands – family brand, individual brand, private brand – selecting a brand name – functions of a brand – branding decisions – influencing factors.

3. BRAND & BRAND MANAGEMENT

4. BRAND A Brand is a name, term, sign, symbol or design or a combination of them, which is intended to identify the goals or services of one seller or another seller and differentiate them from other manufacturers The American Marketing Association defines ‘brand’ as “a name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers…A brand may identify one item, a family of items, or all items of that seller.

5. BRAND FOR CONSUMER AND SELLER CONSUMERS SELLER i )SOURCE OF PRODUCT ii)LOWER RISK iii)LESS COST OF SEARCHING FOR CHOICE iv)SYMBOL OF QUALITY V)SYMBOLIC DEVICE i )MEANS OF COMPETATIVE ADVANTAGE ii)LEGAL PROTECTION OF PRODUCT FEATURES iii)SATISFIED CUSTOMERS iv)MEANS OF PROFIT

6. OBJECTIVES OF BRAND To establish an identity for the product or a group of products. To protect the product or service legally for its unique features. To acquire place for the product in consumers’ minds for high and consistent quality. To persuade the consumer to buy the product by promising to serve their needs in a unique way. To create and send the message of strong reliable business among consumers

7. ELEMENTS OF A BRAND Name Logo Tone Jingle Packaging Characters Sounds Slogan

8. FUNCTIONS OF A BRAND Distinctiveness Publicity Protection of Goods Consumer Protection Wide Market Customer Loyalty

9. BRAND MANAGEMENT

10. BRAND MANAGEMENT Brand management is an art of creating a brand and maintaining it. It is nothing but developing a promise to the consumer, materializing that promise, and maintaining the same for a product, a group of products, or services. Brand management helps to manage the tangible and intangible characteristics of a brand. A competent Brand Management includes building brand identity, launching the brand, and maintaining the brand position in the market. Brand management builds and maintains the corporate image of a business.

11. ELEMENTS OF BRAND MANAGEMENT Brand Identity Brand Image Brand positioning Brand Personality Brand equity Brand Experience Brand Differentiation Brand Communication Brand Gap Brand Extension

12. BRAND IMAGE & BRAND IDENTITY BRAND PERSONALITY BRAND EQUITY

13. BRAND POSITIONING BRAND EXPERIENCE BRAND GAP

14. BRAND EXTENSION BRAND COMMUNICATION BRAND DIFFERENTATION

15. BRAND MANAGEMENT PROCESS

16. Identifying/defining your  most important Customers Understanding what motivates your customers and what could cause them to choose your brand over your competitors’ brands Carefully selecting a brand position that could provide your organization with marketplace advantages Translating that position to a strong and consistent brand identity.

17. Developing brand messaging including an elevator speech Educating employees about the brand promise, elevator speech and identity standards and giving them the incentives, tools and training to become effective brand champions Developing an integrated launch and ongoing marketing plan Reinforcing your brand’s promise at each point of customer contact Measuring the ongoing equity of the brand and making adjustments as necessary

18. BRAND MANAGEMENT RESPONSIBLITIES

19. BRAND MANAGEMENT RESPONSABILTIES Monitor, measure and manage brand equity/strength Increase brand awareness, relevant differentiation, value, accessibility and emotional connection Develop brand plan Monitor progress against brand plan Be responsible for results against brand plan Drive brand understanding and support throughout the organization

20. Champion/drive initiatives that support delivery of the brand promise Brand messaging – elevator speech, tagline, campaign themes, proof points, etc. Manage the brand architecture Maintain brand identity consistency Chair the brand identity council/team/board Help determine identities for new brands/sub-brands Anticipate and accommodate new brand identity needs

21. BRAND MARK The brand mark is a design element, such as a symbol (e.g., Nike swoosh ), logo (e.g., Yahoo! graphic), a character (e.g., Keebler elves) or even a sound (e.g., Intel inside sound), that provides visual or auditory recognition for Aspect or element (such as color, design, picture, symbol, typeface) of a brand that cannot be expressed in words.

22. TRADE MARK  It is a brand or a part of brand which is given legal protection because it is capable of exclusive appropriation.  The official definition of a trademark is “any word, name, symbol or device including, but not limited to, a distinctive package or container of any kind, or any combination of these, used by a person to identify and distinguish the goods of that person, including a unique product, from those manufactured or sold by others, and to indicate the source of the goods, even if that source is unknown

23. TYPES OF BRANDS TYPES OF BRAND PERSONAL BRAND INDIVIDUAL BRAND FAMILY BRAND

24. PERSONAL BRAND

25. PERSONAL BRAND The personal brand attached with individual personality It explains the character of the particular popular celebrity INDIVIDUAL BRAND Individual branding, also called individual product branding or multi branding, is the marketing strategy of giving each product in a portfolio its own unique brand name This facilitates the positioning of each product, by allowing a firm to position its brands differently.  For Eg:Dove

26. FAMILY BRANDING Family branding is a marketing strategy that involves selling several related products under one brand name. Family branding is also known as umbrella branding. It contrasts with individual product branding, in which each product in a portfolio is given a unique brand name and identity. For Eg : TATA CAR, SALT, DOCOMA( sim )

27. BRANDING DECISIONS   A combination of Name, Term, Sign, Symbol or Design Intended to identify the Goods, or Services of seller or group of sellers and to differentiate them from the competition. Branding consists of a set of complex branding decisions. Major brand strategy decisions involve brand positioning, brand name selection, brand sponsorship and brand development. WHAT ? WHEN? WHERE ? WHY? WHO? HOW ?

28. SELECTING A BRAND NAME The brand name is a very important brand element, and may heavily influence the way a brand perform. Brand Names are the key Brand Equity generators because they affect recall and recognition Selecting a brand name is crucial part of branding

29. Features of Brand Name It should be unique / distinctive It should be extendable. It should be easy to pronounce, identified and memorized. It should give an idea about product’s qualities and benefits It should be easily convertible into foreign languages. It should be capable of legal protection and registration