branding as marketing tool
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Understanding Brand
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Elements of Branding
• A brand name is a word, group of words, letters, or numbers that represent a product or service.
•A brand mark is a unique symbol, coloring, lettering, or other design element. It is recognizable visually and does not need to be pronounced.
•A trademark is a word, name, symbol, device, or combination of these elements that is given legal protection by the government.
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Elements of Branding
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Personality and Brand Essence
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Building Strong Brand
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Principal of strong Brand - Adaptability
• No.1 global brand – relevant after 124 yrs
• different flavoring profile in different country.• extensive distribution network .• calorie free drink for developed countries.• Programs like Active health living (U.S)• Social networking – 11million fans on face book.
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Principal of strong Brand - Commitment
• Spanish fashion chains.
• Created real time technology for its operations.• will facilitate store manager to do better stock allocation.
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Importance of Brands
• To build product recognition and customer loyalty.
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Importance of Brands
• To ensure quality and consistency.
Business consulting Investment Banking
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Importance of Brands
• Long term relationships. – passing through generations.
Family of orientation to procreation.
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Brand Equity
Brand equity refers to the marketing effects and outcomes that accrue to a product with its brand name compared with those that would accrue if the same product did not have the brand name.
• Because of the well known brand name the company some time charges premium prices from the consumer.
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Brand Equity
J W Marriot
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Benefits of Brand Equity
• Asset management / leveraging
• Consumer franchise (facilitates loyalty)
• Lower communication costs
• Improved prices/margins/market share
• Barrier to competitive entry
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Brand Equity