Assigned Topic: Branding: How to Use Intellectual Property to Create Value for Your Business?

Group Members: Nidhi Gupta, Aanchal Sood and Subhash Chandra Gupta

Analysis and Reflection

It is common for small businesses to underestimate the value of trademarks, copyrights and other intellectual property and their role in creating business opportunities and enhancing an enterprise’s valuation. Most businesses, whether they are selling goods or services invest heavily in building a reputation. Such a reputation can become a valuable business asset and just like any asset, should be protected and managed to maximize its value.

The same intention is what we aim to carry forward for BABYZINE. We aim to carry a

brand image in the market to establish a link and identity in the market. The main

purpose of creating intellectual property is to create brand loyalty and differentiate

products from the existing service. These properties, successfully used, will also create

opportunities for franchising or licensing agreements, the creation of joint ventures, the

sale of assets to other firms or even opportunities to obtain financing based on the value

of the marks or other properties. Such opportunities begin with a marketing plan and a

strategy to legally protect and maintain the marks.

The first step to the existence of BABYZINE is by registering the Trademark for

BABYZINE. The attachment of the concept of BABYZINE and the registration form for

the trademark registration has been attached along with this write-up. The important

factor as to why we would like to register the trademark is because we believe in

establishing the identity with the unique concept that BABYZINE follow. It is best to

register a mark before it is used in commerce. It is much less costly and time consuming

than redesigning logos or changing names after discovering that somebody already has

registered a similar mark. Once we have successfully registered a mark, it is important

to maintain the registration by continuously using the mark in commerce, policing the

market for violators and reviewing the use from time to time to ensure that the mark

has not evolved in such a way that it is no longer protected by the original registration.

About HOBBY IDEAS

Promoted by Pidilite Industries Limited, Hobby Ideas offers a range of more than 2500 products across various categories from different countries all over the world. The products are complemented with books, videos, finished articles, projects and workshops that make Hobby Ideas a unique and complete experience for art, craft and hobby enthusiasts in India.

Pidilite Industries Limited has been a pioneer and market leader in consumer, craftsmen and specialty chemicals in India. Since its inception in 1959, Pidilite has a

strong base among both consumer and industrial segments. Its product range includes adhesives and sealants, construction and paint chemicals, automotive chemicals, art & hobby materials, stationery products, industrial adhesives, industrial and textile resins and organic pigments and preparations.

At Hobby Ideas, you can choose from a wide range of craft & hobby products – Moulding Craft, Glass Craft, Ceramic Craft, Fabric Craft, Candle Craft, Decoupage, Scrapbooking & Paper Craft, Stickers & Transfers, Aero Modelling, D.I.Y Kits, Stamp Collection, Fine Art range, Party products, Magic Kits, Games, Return Gifts, Puzzles and a lot lot more. The Hobby Ideas stores are currently located in Mumbai, Ahmedabad and Surat. We are also opening new stores in Pune & Nagpur city’s shortly. You can also find us with a select range of the Hobby Ideas products in few stores of Staples, Shoppers Stop, Starmark & Crossword chains in Mumbai, Ahmedabad, Pune, Noida, Bangalore & Kolkata. For more details of our store and shop-in-shop locations and addresses, please visit the ‘Store Locator’ section on this website.

About MAD

Rob, the favourite anchor of kids' TV takes you on a fun-filled, interactive, creative

journey, transforming ordinary materials into stimulating works of art with his MAD

twist. Every single time you discover new styles, that are easy, and exciting, and for

everyone to try and enjoy.

Armed with simple art tools like a pencil, paintbrush, colours and paper, Rob will take

you on a creative joyride, and help you explore the world of possibilities through art.

From new and easy painting techniques, to fun and exciting paper crafts. Playing with

shadows and silhouettes, recycled boxes and bottles, was never so much fun! And to

make the MAD experience even bigger and better, Rob allows his imagination and

creativity to run wild, and gives us the most spectacular, most magnificent, most

gigantic BIG Picture. So hop on board and get set for an art adventure like no other.

Because MAD hai, toh sab cool hai!

What is BABYZINE all about?

To begin with a key factor for the company is to discover a valuable product or service which knows and respects customer needs and desires? Product or service is created as a solution to the customer’s need. Brand is developed to emphasize the customer need for the specific product and explain the possible advantages of this product in order to satisfy those needs. At BABYZINE we have discovered the need of parents to let their children explore their creative side. Since the economy is majorly shifting towards a knowledge economy, we see parents let their kids exploring their creative side. Along with that we also see the parents urge to show it to the world the creativity of their kids. The next key point is discovering and developing competitive advantage. The definition according to Micheal Porter is: ‘competitive advantage grows out of value a firm is able to create for its buyers that exceeds the firm's cost of creating it. Value is what buyers

are willing to pay, and superior value stems from offering lower prices than competitors for equivalent benefits or providing unique benefits that more than offset a higher price. There are two basic types of competitive advantage: cost leadership and differentiation. Cost leadership means that the company sets out to become a low cost producer in its industry. Differentiation means that a company seeks to be unique in its industry along some dimensions that are widely appreciated by buyers. The point of differentiation for us is that we let the creativity of the child come into a tangible form and once that could be replicated into mass number for commercial use. The idea is to use the creative side of the kids to make something industrially viable.

Branding Assael defines brand: ’distinguishing name or symbol designed to identify the origins of a product or service, differentiate the product or service from the competition, and protect the consumer and producer from competitors who would attempt to provide similar products. Branding is the process of creating an association between a symbol/object/emotion/perception and a product/company with the goal of driving loyalty and creating differentiation. Helen Lom, Director-Advisor for WIPO, says: ’Among the various factors that determine a brand’s success, one of the most important ones is the brand’s differentiation power. The brand must have a “point of difference” as far as the target group of consumers is concerned. This point of difference must be: 1. recognizable (in terms of the good and/or services marketed); 2. desirable (in terms of the quality and value of the goods and/or services offered); 3. credible (in terms of reliability); 4. properly communicated (in terms of how the message is formulated and to whom it is targeted). Corporate identity is concerned with the visual aspects of a company's presence. Exercising corporate identity means that the company develop and innovates visual images. The identity for BABYZINE

Business Plan for BABYzine General Description: This business will keep kids (4yrs to 10yrs) busy, happy and creatively occupied in malls while their mother/guardian shop. Mission Statement: To provide a service to parents/ guardians by keeping their ward involved in creative endeavours. Goals and Objectives: The goal is to create a business that provides a good source of artistic entertainment to the child which may further take a more tangible shape in form of accessories, gift item, memento etc. The objective is to compete with similar and alternative business by offering something more to take back and discuss possibilities of commercial viability of the designed tangible product. Business Philosophy: Make it easy for kids and parents to spend time in malls. Marketing: Work with event coordinators, mall administration, schools, etc. to be approved for selling and events at various venues throughout the year. Hand out business cards wherever appropriate to find future opportunities. Competitive strengths are the low prices, convenience and more tangible form of time well spent at BABYzine. Pricing structure varies according to time spent by the child at the store but generally will start at Rs. 250 an hour and an additional Rs. 50 every successive 20mins. Also price varies as per final delivery product and order size.