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8/6/2019 BRAND Contents

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INTRODUCTION

A brand is the identity of a specific product, service, or business. A brand

can take many forms, including a name, sign, symbol, color combination or

slogan. The word brand began simply as a way to tell one person's cattle from

another by means of a hot iron stamp. A legally protected brandname is called

a trademark. The word brand has continued to evolve to encompass identity - it

affects the personality of a product, company or service.

A conceptbrand is a brand that is associated with an abstract concept,

like breast cancer awareness or environmentalism, rather than a specific product,

service, or business. A commodity brand is a brand associated with a

commodity. Got milk? is an example of a commodity brand. In the automotive

industry, brands were originally called marques, and marque is still often used

as a synonym for brand in reference to motor vehicles.

Branding is a process that allows an individual or a group of i ndividuals

the ability to provide a brand image and lettering to an ide a. Upon doing so, one

has a better chance of selling such items to a broader audience whether that be

on a local or global level.

Brand managementbegins with having a thorough knowledge of the

term brand. It includes developing a promise, making that promise and

maintaining it. It means defining the brand, positioning the brand, and

delivering the brand. Brand management is nothing but an art of creating and

sustaining the brand. Branding makes customers committed to your business. A

strong brand differentiates your products from the competitors. It gives a quality

image to your business. Brand management includes managing the tangible and

intangible characteristics of brand.


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LITERATURE REVIEW

Every brand makes a promise. But in a marketplace in which consumer

confidence is low and budgetary vigilance is high, it's not just making a promise

that separates one brand from another, but having a defining purpose.

The word "brand" is derived from the Old Norse brandr meaning "to

burn." It refers to the practice of producers burning their mark (or brand) onto

their products.

Although connected with the history of trademarks

,

brands in the field ofmass-marketing originated in the 19th century with the advent of packaged

goods. Industrialization moved the production of many household items, such as

soap, from local communities to centralized factories. When shipping their

items, the factories would literally brand their logo or insignia on the barrels

used, extending the meaning of "brand" to that of trademark.

Bass & Company, the British brewery, claims their red triangle brand was

the world's first trademark. Lyles Golden Syrup makes a similar claim, having

been named as Britain's oldest brand, with its green and gold packaging having

remained almost unchanged since 1885. Another example comes from Antiche

Fornaci Giorgi in Italy, whose bricks are stamped or carved with the same

proto-logo since 1731, as found in Saint Peter's Basilic a in Vatican City.

The term "maverick," originally meaning an unbranded calf, comes from

Texas rancher Samuel Augustus Maverick who, following the American Civil

War, decided that since all other cattle were branded, his would be identified by

having no markings at all.


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Factories established during the Industrial Revolution introduced mass-

produced goods and needed to sell their products to a wider market, to

customers previously familiar only with locally-produced goods. It quickly

became apparent that a generic package of soap had difficulty competing with

familiar, local products. The packaged goods manufacturers needed to convince

the market that the public could place just as much trust in the non-local product.

Campbell soup, Coca-Cola, Juicy Fruit gum, Aunt Jemima, and Quaker Oats

were among the first products to be 'branded', in an effort to increase the

consumer's familiarity with their products. Many brands o f that era, such as

Uncle Ben's rice and Kellogg's breakfast cereal furnish illustrations of the

problem.

TheoreticalBasis OfBranding

Brand is the image that consumers have in mind (Aaker, 1991). It is also

the unique characteristics that have been developed all the time in order to

differentiate actual products from the competitors (Murphy, 1990). In addition,

The American Association defines a brand as a name, term, sign, symbol or

design, or a combination of them intended to identify the goods or services of

one seller or group of sellers and to differentiate them from those of

competitors. A brand is thus a product or service that adds dimensions that

differentiate it in some way from other products or services designed to satisfy

the same need. These differences may be functional, rational, or emotional or

intangible related to what the brand represents. Brand concepts must address

customer interests and lifestyles. Factors that affect its brand image and brand

perception among marketing communication program that implementing to the

public to create brand perception, brand characteristic, brand image and brand

equity.


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ANALYS S AND DIS SSIONS

The color, letter font and st le ofthe Coca-Cola and DietCoca-Cola logos innglish were copied into matching Hebrew logos to maintain brand identit in

Israel

MEANING OF BRAND:

A brand is the identit of a specific product, service, or business. A brand

can take many forms, including a name, sign, symbol, color or slogan. The word

brand began simply as a way to tell one person's cattle from another by means

of a hotiron stamp. A legally protected brand nameis called a trademark. The

word brand has continued to evolve to encompass identity in effect the

personality of a product, company or service.

T e Ameri anMarketing Association defines a brand as follows:

A brand is a name, term, sign, symbol, or design, or a combination of

them, intended to identify the goods or services of one seller or group of sellers

and to differentiate them from those of competitors.


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In complex markets, the differences between companies are not much.

The companies cannot differentiate much themselves from others on the basis

of quality and technology etc. factors as all the companies are competent

enough. This scenario explains the need for the differentiation for the

companies.

What is a brand?

Branding is an effortto give a unique identity to the companys products

and create emotional associations with consumers. Itis a form of marketing.

A brand is a set of associations that are linked to a product range, a

division, or company. These associations reside in the memory of customers.

These associations hel p customers understand what the brand or company is,

why it is potentially relevant to them, how it is different or similar to other

products made by the company, and how it is similar or different from

competitors products.

Branding is a combined effort of the company which is projected to theconsumer.


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CONCEPTS OF BRAND:

A brand is the personality of a product, service or company and how it

relates to key constituencies: Customers, Staff, Partners, and Investors etc.

Some people distinguish the psychological aspect of a brand from the

experiential aspect. The experiential aspect consists of the sum of all points of

contact with the brand and is known as the brand experience. The

psychological aspect, sometimes referred to as the brand image, is a symbolic

construct created within the minds of people and consists of allthe information

and expectations associated with a product or service.


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A brand which is widely known in the marketplace acquires brand

recognition. When brand recognition builds up to a point where a brand enjoys

a critical mass of positive sentiment in the marketplace, it is said to have

achieved brand franchise. One goal in brand recognition is the identification of

a brand without the name of the company present. For example, Disney has

been successful at branding with their particular script font (originally created

for Walt Disney's "signature" logo), which it used in the logo for go.com.

The art of creating and maintaining a brand is called brand management.

Orientation of the whole organization towards its brand is called orientation.

Brandmanagementbegins with havinga thorough knowledgeofthe term

brand. It includes developing a promise, making that promise and

maintaining it. It means defining the brand, positioning the brand, and

delivering the brand. Brand management is nothing but an art of creatin g and

sustaining the brand. Branding makes customers committed to your business. A

strong brand differentiates your products from the competitors. It gives a quality

image to your business.

Brand management includes managing the tangible and intangible

characteristics ofbrand. In case of product brands, the tangibles include the

product itself, price, packaging, etc. While in case of service brands, the

tangibles include the customers experience. The intangibles include emotional

connections with the product / service.

Branding is assembling of various marketing mix medium into a whole

so as to give you an identity. It is nothing but capturing your customers mind

with your brand name. It gives an image of an experienced, huge and reliable

business.


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BRAND NAME

The brand name is quite often used interchangeably with "brand",

although it is more correctly used to specifically denote written or spoken

linguistic elements of any product. In this context a "brand name" constitutes a

type of trademark, if the brand name exclusively identifies the brand owner as

the commercial source of products or services. A brand owner may seek to

protect proprietary rights in relation to a brand name through trademark

registration. Advertising spokespersons have also become part of some brands,

for example: Mr. Whipple of Charmin toilet tissue and Tony the Tiger of

Kellogg's Frosted Flakes. Local branding is usually done by the consumers

rather than the producers.

BRAND ATTITUDE

Brand provides information and the kind of inf ormation comes from

marketing communication. When a customer thinks of a brand, a great deal of

information comes to his mind, a lot more than what type of product it is, like

how much he likes it, or it is one of the best etc. All these thoughts reflect

something that is called brand attitude.

BRAND O ITIONING

Brand positioning can mean different things. It may refer to where a

brand is seen in a category relative to its competitors. It may also refer to the

benefits or images associated with a brand . It is something that enables a brand

to occupy a distinct and valued place in the mind of the target consumerKotler, 2003. It may be thought of as a super communication effect that tellsthe potential customer what the brand is , who it is for, and wha t it offers.

This reflects the relationship between brand positioning and the two core

communication effects of brand awareness and brand attitude


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Brand must also be linked to the target audience, which means the target

audience for the brand should immed iately understand that the advertising is

talking to them.

Centraland Differentiatedpositioning:

A centrally positioned brand must deliver all the main benefits generally

associated with the product category.

All brands of the company in that category should adopt a differentiating

positioning where one looks for an important benefit that consumers believe the

brand offers and does a job better than other brands .

BRAND COM ONENT :

Successful brands are based on clear vision. Brand vision has three

components:

o Valueso Future environmento Purpose of the brand

Values:

Values represent the behaviors and end-states to which a brand adheres as

important guiding principles. A brands values effectively say This is what we

believe in and this is how we think our business should be conducted.

Some organizations treat brands as intangible assets in that they include them

in the balance sheet. Identifying a set of values to characterize a brand helps

staff understand how they should behave and helps customers better appreciate

the brand promise. For example, Virgin Atlantics values are:

o Funo Value for moneyo Sense of challenge


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o Innovativeo Quality

One of the principles of effective branding is that there should be a low

number of core values, typically no more than five. It is also important to

distinguish between core and peripheral values Core values will always be a

central characteristic of their brand regardless of the external environment,

competitive pressures or management fads.

o Peripheral values allow to change based on the circumstances.Envisioned future

The second component of brand vision is the envisioned future. If a brand

is to thrive, the team behind it must have a long-term vision about the future

environment in which the brand will exist.

Brand urpose

The final component of the brand vision that needs to be identified is the

brand purpose. This is related with answering the question How is the world

going to be a better place as a consequence of the brand?, and again has to

inspire and guide staff. Note that the reason for having a brand vision is that it

gives a clear statement about the soul of the brand and provides a good sense

of direction. Defining the values that the brand will be true to is extremely

important, since these set guidelines about the type of behavior that will always

characterize the brand and help customers to rapidly appreciate the brands

promise.

BRAND AND RODUCT

y Brand is more distinctive than a product. It is first of all a name, a meansof identification. Secondly, it is a set of added values offering both

functional and psychological benefits.


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y Product is something with a functional purpose. Brand offers somethingin addition to functional purpose

A brand is a product that provides functional benefits plus added val ues that

some consumers value enough to buy.

THE UR O E OF A BRAND

We all have our favorite brands. The purposes of a brand are,

y Brandsdriveshareholdervalue:25% of all market capitalization is derived from brands. Astonishingly,

brands within some sectors comprise 70% of a companys market capitalization.

As shareholder value shifts from tangible assets to intangible assets (like brands)

in a 21st century world of ideas, information, etc., this trend is likely not going

to wane any time soon. So, the purpose of building a strong brand (from the

companys perspective) is to increase shareholder value over time.

y Helps the consumers to choose fromunendingmaze ofproducts &categories:

Consumers have an unending maze of products & cate gories out there to

choose from. People yearn for signpost brands they trust, so they have less

choice to make in life Behavioral psychologists would even say that brands

help people signal distinct sets of beliefs and values.

y Companies wanttostaycompetitiveoverthenext few decades:Despite all the market cap/shareholder value arguments, invariably folks

still seem to wonder why companies spend so much money on brands. The

cynical view holds that companies are diverting precious $$ that could be spent

on R&D and training for employees, etc. if companies want to stay competitive

over the next few decadestheyll need brush up on their branding skills.


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y Toinspirepeople:A lot of people behind brands want to make a difference in the world. If

a brand team really does want to inspire people (especially their own

employees) then they should consider their purpose. What are they trying to

achieve beyond driving shareholder value? The ironic thing about this question

is that once its answered, invariably brands > business units > companies

perform better.


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FINDING

Brands drive shareholder value. 25% of all market capitalization isderived from brands and 70% of earnings can be attributed to the brand.

The importance of building a brand on a purpose, not simply a promise, itisn't just to help consumers understand what the brand stands for but,

perhaps more critical, to help employees, or associates, as they are called,

understand why "we are here."

Brands are an important source of competitive advantage thatorganizations can utilize to protect their IP, increase market share,increase customer loyalty and raise prices.

Brands are one way of creating intangible assets in the form of IP, andthis is directly to innovation.

Brands are valuable assets which, if they are well managed, can provide aguaranteed stream of future income.

whereas a product or services simply provides a solution to a consumers problem or need, a brand is a unique offering that is difficult for

competitors to emulate, hence the value of brands in company

acquisitions.

Brands Confirm legal protection.Brands guarantee quality and homogeneity after sellers and buyers have

lost face-to-face contact.


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UGGE TION

Good brands convey a set of values and the owner of the brands obligedfor maintaining it.

Brands are valuable assets which, if they are well managed, can provide aguaranteed stream of future income and if the organization fails to

manage, it will bring adverse effect.

One of the principles of effective branding is that there should be a lownumber of core values, typically not more than five. If there are number

of core values the branding will be negatively affected. So every marketer

must give more importance to careful branding .

The main objective of branding is differentiating marketers product fromthat of competitors. If the product/service is not properly branded

competitors will take advantage over it.


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REFERENCE

y Miller & Muir (2004). The Business of Brandsy Philip Kotler (2004). "Marketing Management"y David Aaker (1991), ManagingBrandEquityy www.google.comy www.wikipedia.com

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