Is a name symbol or design that identifies the goods or services of one seller or group of sellers?

Presentation on theme: "AMA – Name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and."— Presentation transcript:

1 AMA – Name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of the competition. Branding basis – people, place, animal or bird, scientific term, and things or objects. Branding contain – inherent product meaning, and attributes or benefits. Branding could be done for product (physical good, retail store, person, organization, place, or an idea. Brand = product + other differentiating dimensions (physiological and psychological) Learn Brand Management - Create Successful Brands

2 Brand and Branding Basics: What is Brand Identity? A promise that gets kept consistently. It creates a personality and a life for your products/services. A unique and consistent look, feel, tone and voice for all communications. It’s essential to your success in the market place.

3 Anything can be Branded – Branding is Universal Commodity – Chicken, Coffee, salt, fruits, vegetables, water, etc. Physical good - Consumer products; Business to Business; High-tech products. Services – KPMG, Citi, Airlines, Energy firms, etc. Retailers and distributors – Sears, Wal-Mart, private or store brands. On-line product and services – google, e-bay, etc. People and Organizations – Paul Newman. Ideas and Causes – Red Cross, NRA.

4 Management of Brand Brand Equity ( Phrase used in Marketing Industry ): It describes value of a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well-known name is better than products with less well-known names. Sources of Brand Knowledge Associative node model of memory Brand awareness Brand image Strength of brand associations Favorability of brand associations Uniqueness of brand associations

5 Why Brand Equity? Positive brand equity leads to: Loyalty Larger Margins Greater Trade Support More Efficient Communications / Marketing Resiliency to Crises Licensing Opportunities Brand Extension Opportunities Reduced Vulnerability to Competition Greater financial returns

6 Building Equity: 1. Determine brand knowledge structures a. Breadth of awareness (brand salience) b. Positioning (points of parity/difference) c. Image (strong & favorable brand associations) 2. Develop marketing programs 3. Integrate across product lines and geographies 4. Measure and control a. Feelings/judgments/loyalty

7 A Product Manager - Computer Software Firm Typical day Meetings - new product line, marketing mix, marketing staff, organizational design and integration E-mail/Phone - 3rd party developers, sales force, product support Marketing planning - drafting the marketing plan

8 The Value of Brand Equity:

9 Online Branding:

10 A key marketing challenge in today’s multi-channel, multi- device world is the integration of digital marketing opportunities into the traditional marketing mix. Leveraging the capabilities of the Internet’s network connectivity and interactivity to drive revenue is of paramount importance to today's marketer.

11 Branding in 21 st century: Who creates brands? How do you create a brand? How do you value a brand? What is brand immersion? Tell me about a time that you felt immersed in a brand.

12 In the 21 st century, this is what your job is all about: Find ways to make your brand more experiential and hence more memorable! careful spatial planning live, real-time, event-based nature of the brand interaction Shift consumers’ perception and practice of what constitutes a marketing ‘space’. Immersion marketing seeks to achieve a much more proximal relationship between consumers and brands. as theorists of the ‘experience economy’ put it: ‘the more effectively an experience engages the senses, the more memorable it will be’ What makes a medium or environment immersive? What makes a medium or environment immersive? Wmake a medium or environment imme What makes a medium or environment immersive? hat makes a medium or environment im

13 Branding Strategies: Speaking to the Head and the Heart To acquire, retain, and grow customers, companies need to know how customers make brand decisions. The brand decision can be primarily cognitive or experiential depending on the product category and situation. Brand decision-making is partly rational and partly emotional, so brands must speak to both the head and the heart.

14 Factors That Influence Brand Decisions: Three factors influence decision-making: Level of involvement (high to low) Customers (retention) versus Prospects (acquisition) Consumers versus Businesses

15 The Head to Heart Decision-making Continuum:

16 Three Approaches to Making a Brand Decision

17 Step 1: Problem and Opportunity Recognition Step 2: Information Search Step 3: Evaluation of Choices Step 4: Behavior and Action Step 5: Review of Buying Decision Basic Brand Decision-making Steps

18 Problem and Opportunity Recognition: What are the needs and wants? Before brand messages can influence customers or prospects, brand messages must first get the attention of these customers and prospects. Selective perception is the process used to decide what is worthy of attention.

19 Maslow’s Hierarchy of Needs:

20 Safety and Security Needs: We often see marketers use the safety need of Maslow’s Hierarchy of needs in automobile needs.

21 Social Needs-Example

22 Step 2: Information Search During the search for information, customers usually focus on the differences they perceive among competing brands. Brand awareness and brand knowledge are crucial here. Research shows that when customers see marketing communication that is relevant to them, they are more likely to pay attention and think about it. Two routes used in information searching: Central Route Peripheral Route

23 Step 3: Evaluation of Choices – Affective Responses An affective response involves emotional processing and results in preferring (or not preferring) a brand and developing a conviction about it. Step 4: Behavior and Action Attitudes and behavior are linked, however the links are not always direct or clear. People act according to their attitudes and beliefs, as well as what they know.

24 Step 5: Review of Buying Decision Customers evaluate purchases consciously or subconsciously and arrive at some level of satisfaction. This leads to either a repeat purchase or a return to a search for a different brand. The review process involves learning. Two theories of learning: Cognitive Learning Conditioned Learning

25 Persuading People to Persuade Themselves Marketing communication is a type of intervention in a customer’s brand decision process. The intervention works only if the planner truly understands the customer’s relationship to the brand. From an IMC perspective, communication that helps customers and responds to them in a personal way is much more persuasive than communication that tries to manipulate them.

26 Brand Architecture and Brand portfolio:

27 Brand Architecture: The branding strategy of the firm which tells marketers which brand names, logos, symbols apply to which new and existing products. Umbrella, family or corporate branding (branded house) Individual brands (house of brands) The Role Of Architecture: Clarify-brand awareness Improve customer understanding and communicate similarity and differences between individual products Motivate-brand image Maximise transfer of equity to/from the brand to individual products to improve trial and repeat purchase

28 Brand Portfolio: Brand Line Products within a brand (original +extensions) Brand portfolio is a set of all brand lines targeted at various segments Product line Set of products with similar function Product across brands or brand extensions Branding strategy Number of common and distinct brand elements to be used Breadth ( in terms of brand – product relationship and brand extension strategy) Depth (in terms of product-brand relationship and brand-portfolio)

29 Other Special Roles of brand in a portfolio Tap into untapped segment Serve as flanker and protect flagship brand Serve as cashcow and be milked for profits Low end entry level product – customer acquisition High end prestige product

30 Brand Hierarchy: Kapferer’s Branding System: Product Brand (Ariel, tide and Dash by P & G) Line brand.. Across different products (Chevrolet: GM) Range Brand or Umbrella brand … (maggi food range) Other Way of classifying: Corporate brand (GM) Family Brand (Chevrolet) Individual Brand (optra) Modifier (GLX)

31 Corporate Branding: A corporate brand is distinct from a product brand because it can encompass a whole new set of associations It’s a powerful means to express the company philosophy in a way that is not tied to the product or the service

32 Corporate Branding :

33 Examples of Corporate Branding:

34 Family Brands: Distinct family brands creates a special set of associations across a group of related products Cost of introducing a related new product is lower Acceptance of new products is higher However, failure of one can effect others Marketing activities need to be closely coordinated

35 Family Brand Level:

36 Corporate Image Dimensions: Product Related High Quality Innovative People and Relationships Customer Orientation Values & Programs Socially responsible Environmentally concerned

37 Brand Promotion and Planning: Advertising Plan and Its Marketing Context: Specifies thinking and tasks needed to conceive and implement an effective advertising effort Advertising Plan Components: Objectives:  To create or maintain brand awareness.  To change consumer beliefs or attitudes.  To influence purchase intent.  To stimulate trial use.  To convert one-time users into repeat purchasers.  To encourage brand switching.

38 Sales vs. Communication Objectives Advertising = Sales? Advertising = Communication? Effective Communication = Sales? Focusing on communications objectives allows advertisers to consider a broad range of strategies. Building brand loyalty can take years.

39 Advertising Plan Components Objectives: Characteristics of Workable Objectives:  Quantitative benchmarks  Measurement methods  Criteria for success  Time frame Budgeting Methods:  Percentage of sales – Does not relate spending to objectives  Share of market/voice – Likely to maintain “status quo” market share  Response models – Depends on sales = advertising relationship

40 Ad In Context Example: What is the Strategy in this ad?

41 Advertising Plan Components: 1. Execution: Copy Strategy Media Plan Integrated Brand Promotion 2. Evaluation: Criteria Methods Consequences

42 The Role of the Advertising Agency in Planning Advertising and IBP  Advertiser must bring to the table an assessment of the brand’s value, the external environment, and opportunities and threats.  The advertising agency’s role is to translate the current marketing plan and market status of the brand into: – advertising objectives – advertising strategies – finished advertisements and IBP materials – placement and execution of advertising and IBP

43 Protecting Brands through Trademarks: TRADEMARK A sign used to distinguish the goods and services offered by one undertaking from those offered by its competitors. A trademark should allow a consumer to recognize the origin of the goods or services traded under the sign, so he may in future decide on that basis whether (or not) to repeat his choice of purchase. When a trademark no longer just serves to distinguish its company’s goods or services but carries with it a message of the company’s values and outlook, it becomes the most valuable long- term asset of a Brand.

44 Trademark Protection Against Infringement: Basic Considerations Protection of registered marks worldwide; International treaties on trademark law – multi-lateral protection; broader scope of protection - likelihood of confusion - reputation; prima facie recognition of exclusive right; ex-officio protection against subsequent trademark applications; record registered trademarks with Customs for detention and seizure of infringing products Protection of unregistered marks goodwill not uniformally applied (Common – Civil Law); burden of proof.

45 Trademark Infringement: Trademark infringement: the violation of the exclusive rights to a registered trademark without the consent of the trademark owner. Infringement occurs when one party uses a trademark identical with or confusingly similar to a trademark owned by another party, in relation to identical or similar goods or services covered by the registration. The owner of a registered trademark may start legal proceedings against the party that infringes its registration. In many countries (but not those recognizing common law) the trademark owner cannot bring infringement proceedings if its trademark is not registered. In such cases, the trademark owner may start proceedings under the common law for passing off or misrepresentation, or under legislation which prohibits unfair business practices, provided is can prove goodwill / reputation in the mark.

46 What Constitutes A Trademark? A trademark may consist of any signs capable of being represented graphically, particularly words, including personal names, designs, letters, numerals, the shape of goods or their packaging, provided that such signs are capable of distinguishing the goods or services of one undertaking from those of other undertakings

47 Using a Trademark as a Business Assest: Licensing: owner retains ownership and agrees to the use of the TM by other companies in exchange of royalties > licensing agreement (business expansion/diversification) Franchising: licensing of a TM central to franchising agreement. The franchiser allows franchisee to use his way of doing business (TM, know-how, customer service, s/w, shop decoration, etc) Selling/assigning TM to another company (merger & acquisitions/raising of cash)

Is a name symbol or design that identifies the goods or services of one seller or group of sellers and distinguishes them from the goods and services of competitors?

A brand is a name, term, sign, symbol, design, or a combination of these elements that is intended to identify the goods and services of a seller and differentiate them from those of competitors.

Is a name symbol or design that identifies the goods or services of one seller or group of sellers quizlet?

A brand is a name, symbol, or design (or combination thereof) that identifies the goods or services of one seller or group of sellers and distinguishes them from the goods and services of competitors. The word brand includes all means of identifying a product.

Is a name symbol or design that identifies the goods?

A brand is a name, term, sign or symbol, design or some combination of them is used to identify the products.

What is a name symbol word or design that identifies a product service or business called?

A trademark can be any word, phrase, symbol, design, or a combination of these things that identifies your goods or services. It's how customers recognize you in the marketplace and distinguish you from your competitors.