"A brand is name, term, sign, symbol or design or a mixture, designed to identify the products or services of 1 seller and also to identify them from those of competition" American marketing Connection 1960. A brand is name, icon, company logo, design or image or any combination of the, which was created to identify product or service. Kotler et al, 1999
Brand distinguishes a company's product from its competition and an identified service or product that strongly satisfies customer's needs and needs. Brand is an asset to a business and reflects the quality of customer service. Branding is focused on the customer's trust of the merchandise or service and makes the segmentation easier for the company. The difference between an organization and its rivals should be communicated by brand, because it makes a company unique. BMW, Toyota, Luis Vuitton, NEXT, Debenhams, Nike and Coca Cola will be the well-known brands that control price prime and stimulate profound customer's commitment.
Branding
"Branding is the collection of actual and mental characteristics associated with a particular identified service or product that differentiates it from the rest of current market"
Hand-out notes by tutor Anthony smith
Branding is an essential requirement of marketing to build a strong image of a company. Mercedes Benz can be an automobile brand that codes a premium using their engineering, performance, quality, customer support and after sales service. Toyota stocks all these characteristics but still they were not positioned as prime in the clients mind. Toyota then created "Lexus" as a premium brand with the cooperation of both Toyota and Lexus distributed engineering, design elements and customer service.
How-to-branding. com
Brand Architecture
"Brand architecture identifies the hierarchy of brands within a single company. It's the interrelationship of the parent or guardian company, subsidiary companies, products, and services, and should mirror the online marketing strategy".
Kompanigroup. com
"How an organization structures various products, services or other entities within its portfolio and how they relate with one another".
Brandinstitue. com
In the growing current economic climate we can see different companies merging with the other person and form the strategy for every of the targeted group where every product can take its own brand name. Good and clear brand architecture leads a company towards brand setting and also helps to get sustainable competitive advantage.
There are three different types of brand architecture strategies.
Corporate/Monolithic Branding Strategy
In this plan company takes on a unified brand for all product categories and targeted market. This strategy creates simplicity, and cost deficiencies can be achieved as opposed to multi-branding architecture, when a corporate brand performs an inferior role.
Microsoft, Intel, Disney, CNN, SONY, Nike, Virgin and coca cola etc. are the best types of corporate branding. Corporate banding makes the advertising easier for the company as they just advertise their name and slogan. . Coca cola is recognizable in every continent of the world through its red curved container and custom logo. SONY is a commercial brand as its name is attached to everything, from its DVD's that can be played station.
The founder of SONY, Akio Morita, once said: "I've always presumed that the business name is the life of an enterprise. It carries responsibility and promises the grade of the product".
Therefore corporate strategy leads a firm to sustainable financial outcomes.
Brandingstrategyinsider. com
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Adhistry. wikispaces. com
Google. co. uk
Multi/Specific Branding Strategy
"Multi Brand Strategy refers to a online marketing strategy under which two or more than two similar products of a firm are marketed under different brands. "
Finance. mapsofworld. com
It is very hard for a brand to put itself in a diversified environment where in fact the customer's needs and wishes are different. Therefore, company can fill up different market sections through diversifying its product range. VW, P&G, Unilever and Diageo will be the best examples of multi branding. P&G is the excellent example, possessing a multiple hair shampoo brand to affect different customers, like head & make for dandruff, Pentene for healthy hear and Sassoon for professional saloon experience. Through multi branding a corporation can target several segment on the market and fill the purchase price gaps. Multi branding is a good strategy but sometime it fails as a result of poor management. Due to failure it might harm the family brand.
VW took many years to improve the negative brand image of "Skoda" from the customer's mind. Helen Meek. et al, 2001
Google. co. uk
Endorsed Branding
"A brand that holds the endorsement of an source brand (the father or mother company)".
Brandbuild. eu
Endorsements add integrity and assurance of the indorsed sub brand in customer's mind without overpowering it using its own association. Endorsed branding is suited to the company, using varied product collection, e. g. Nestle, Cadbury, Unilever etc.
Nestle written on the Set up Kat, Cadbury written on Dairy products Dairy to provide trustworthiness and assurance to the merchandise.
Some companies give freedom to the endorsed brands like Unilever give independence to the Heartbrands such as Feast, Magnum and Cornetto plus they have their own marketing promotions and target market. Some companies has strong marriage between company name and product, e. g. Ford will it really with the model Mustang, people using either the brand Mustang or the entire name Ford Mustang.
Google. co. uk
Brand Elements
"Brand elements are those trademarkable devices that identify and identify the brands". There are specific elements of a brand, like names, logos, symbol, individuals, slogans, design, features etc. some important elements are brought up below".
Kotler et al, 1996
Brand Name
Name is the most significant factor of the brand. This is the only part of the brand that ought to never be altered. It help customers to recognize distinguish product from competitors. It isn't necessary the brand is from the company and can be different. But if the brand name is linked with the quality of the product either high or low, then all good must be of the same standard. M&S is the perfect example of providing quality products through 'St Michael' Brand as one can see its label on the cloths and food and home goods as well.
Brand Image
Brand image is important way by which a customer recognises and is convinced a brand. It offers a business an id and creates an improved image in the mind of the customers. Brand image is exclusive that clearly demonstrates the image of the organisation and various from the competitors. To build a right image in the customer's mind, the company will need to have to focus on brand identification.
Brand Personality
Brand personality is the goodwill of the brand. It really is from the benefits and capabilities of the brand. Brand personality is exclusive and long lasting; it is the emotional connection of the consumers with the merchandise, e. g. Sony and Panasonic, both will be the giants of electronic sector, although both received same features, some individuals prefer one of the other because of their trust on the merchandise by long time.
Brand Association
"Brand relationship is the relative strength of consumer's positive thoughts towards brand"
Lasser et al, 1995
"Associations, according to Aaker (1991) symbolize the bases for sale decisions and for brand commitment".
"The way consumers understand brand is an integral determinant of long-term business-consumer connections. Hence, building strong brand perceptions is a top priority for most businesses today".
Morris, 1996
It is the understanding of the customers towards a brand attributes and quality. Brands can be from the name, colours, symbols, attitudes, expressions and audio etc. Mercedes Benz is associated with the luxury drive and excellent executive, Nike with its Slogan, Nokia with its audio, and Coca Cola with its red coloring, Colgate toothpaste with cavity coverage and Microsoft with Bill Gates.
Renault has launched a successful campaign because of its model Clio and used the famous French footballer Thierry Henry and Sesame Steet in the 'Va Va Voom' advert. This campaign producing entice more male customers than females. This is one way celebrity's relationship to the brand benefits organisation.
Kotler et al, 1996
Brand association provides basis of shopping for and brand loyalty to the customers. Companies always make an effort to affiliate their brands with the positive things to create good image of the product in your brain of customers.
Brand connection developed if the merchandise is appealing, durable and satisfies the customer's needs. Positive customer's notion about the product makes a brand more robust. It is created on the basis of Product attributes, Advertisements, Relevant price, Quality, Movie star and big entity connection, Competition and Display points.
Brand positioning
"Placement is the area in consumer's mind that you want you brand to possess". For instance, Hallmark caring distributed, and Disney Family Fun entertainment".
"Setting is not what you do to a product; positioning is what you decide to do to the mind of the chance".
Ries and Trout, 1981
Brand placement is efficiently built through ongoing communication with the clients about the merchandise to its targeted market, through advertisements, brand name and its own packing.
Brand positioning identifies the positioning in the customer's mind, it generally does not relate with market position. Brand placement is associated with the market segmentation. The right market segment is usually to be targeted for the brand setting. Brand positioning is all about a customer's perception about the merchandise. There are certain ways for a brand to be located, e. g. offering specific benefits, concentrating on a specific section, pricing and distribution.
Brand positioning is an important concept when a company can decide where it wants to position its brand in its field in accordance with competition. Brand positioning is a thinking that guides a firm to create a relationship between the brand and customers. Brand setting provides space in the customer's brain, therefore the company become in the better position to control over its own brand image.
Price and quality are the most typical attributes are believed in the brand positioning. To obtain a good position in the customer's head the company add brand of a good quality with on competitive price. The quality of the product must be at least equivalent or better from the opponents.
Quality notion is the most effective component of the brand setting. Once a company is successful in building a powerful understanding of quality will bring about building a powerful brand. Psychological aspect is dominant somewhat in building a quality conception as some people's psyche is the fact the product with high price is of good quality.
Communicating brands through their specific features is another way to put brands, e. g. Center all clear, "Dare to wear Black" or Pakistan and India browse excel is promoted as stain remover, "Browse Excel hena". Culture is another strong aspect to the brand placement. Different companies use ethnic symbols to differentiate products using their competitors. Good examples including, Air India advertise through 'Maharaja', Tata tea, 'Hamara Bajaj' etc.
Treedeuce. com
Brand Extension
"Brand extension is a online marketing strategy in which a firm that trading markets something with a well-developed image uses the same brand but in a different product category".
Brandexpress. net
"When a organization uses its brand in another product form, or even within another product school, then the company is 'stretching' the brand (generally known as brand expansion)".
Iain Ellwood
Virgin is the nice example of brand expansion as they sell everything from documents to airline travel, to cola beverages to wedding celebrations from clothing to cosmetic and computers. This is successful in brand extension because it has the ability to connect the client directly and present them values.
Many firms attempt to lengthen their brands but all the brand extensions are not suitable or desirable. An extended brand always is most effective in a high to down path. It will always be easy for a company to bring brand extension from relatively cheaper products. 'Ralph Lauren' and 'Gucci' are the best example. 'Ralph Lauren' lengthened from luxury clothing to jeans and bed linen while 'Gucci' brand is lengthened from luxury clothes to range gloves, preparing food aprons and dog gadgets. A protracted brand has a low introductory cost because the clients, traders and retailer are well aware of the merchandise. Brand extension brings options to the clients through variety of products. If the product is of lower quality, will result in damaging in overall brand value.
Iain Ellwood
Caterpillar is one of the primary non-sporting boots companies on earth using its brand CAT. That is basically a building and mining equipment processing company that expanded their brand in this potential portion. It was perceived that it's the biggest blunder of the caterpillar but the extension was a huge success.
Sometimes the brand expansion, implemented incorrectly scheduled to less understanding. 'LEGO' is a Danish toy making company, made a decision to increase its brand and launched its own products of cloths, wristwatches and video games but it was ignored by its target market, that result 1 / 2 of its staff are redundant back 2004.
Kotler et al, 2001
Michelin and Goodyear are the French companies, famous for making 'rubber tyres' and having lots of brand extensions. Michelin brand extensions are car and circuit related product, footwear and clothing, athletics and leisure and personal accessories. Alternatively Goodyear becomes the spouse of the Adidas to produce a series of driving a vehicle shoes.
Kotler et al 2001
We can easily see normally financial services providers have never attempted to stretch their brands, and only concern with their original market. Alternatively, there are too many non-financial service providers extended directly to the financial services. E. g. Tesco long its market to Tesco bank and Tesco insurance.
Benefits of branding
To customers
People buy brands, because they're well alert to the grade of the merchandise and save time and attempts. Buying a branded product can provide customers a satisfaction and credibility. A lot of the branded products have guarantee policies, gives customers guarantee of an excellent product. Some big companies having product updating guidelines, e. g. 'DeWalt' a power tool making company, replace the merchandise immediately in case of damage.
To intermediaries/stakeholders
There are certain benefits associated with branding to different stakeholders, that straight/indirectly effecting the organisation.
Multinational organisations will have the strategy for interpersonal, environmental and financial issues. Companies donate to the societies in which they operate. Brands follow federal rules to minimise any adverse effect to the surroundings.
Employees always entice to impressive companies where learning opportunities are always there.
Supplying goods right to retailers, companies distribute goods through providers or distributers. Distributers get long-term contracts from the known brand companies.
Retailer can get benefits from overall marketing campaign.
Sustainable competitive advantage
When several firms compete within the same market, one organization possesses a competitive gain over its competitors when it earns (or has the potential) to earn a persistently higher rate of income.
Grant, 2002
It is vital for every company to be successful in long term. Effective commercial branding is obviously the main way to obtain getting sustainable competitive advantage on the market. World's famous corporate brands do not sell products, they sell principles, e. g. Coca Cola does not sell a soda, it sells fun and Microsoft will not sells computer systems, it sells probability.
Brand designers create a corporate brand individuality through promotional material and advertising campaign to establish a corporate identity.
There are certain brand characteristics that lead an organization to get ecological competitive benefits. A smartly designed logo and a strong identity system can give a company an edge over its challengers.
Brand Identity
"A unique group of brand associations that the brand strategist aspires to set-up or maintain. These associations represent what the brand means and imply a promises to customers from the organisation members".
Aaker, 1996
"Brand identity is just how a company is designed to identify or position itself or its product or service. "
Kotler et al, 1999
Brand personality is the initial thing a customer experience and plays a major role in obtaining a sustainable competitive edge in the market. Brand characteristics are is a bag of features that presents the personality of the brand and these features help create brand personality.
Brand personal information is backed by emotional and unique elements and beliefs, serve to tell apart the brand in the market, especially for gradually competitive environments, service organisations and recreational industries.
Brand id creates a distinct id that is very hard for the opponents to duplicate.
The main elements to create a strong brand personality are recruiting, organisational culture, organisational composition, stationary, company cards, company dcor, packaging, catalogue, market and innovation etc.
Kotler et al, 1999
Brand loyalty
Brand loyalty is recognized as ultimate prize for a brand as it is another factor that leads a company to obtain a sustainable competitive advantages. Customers always would rather buy those brands these are loyalty with, even though that is expensive and have close substitutes in the market.
Apple's ipod touch is something to pay attention mp3/mp4 music, and the best electronic digital giants like Sony, Panasonic therefore a great many other companies have same product with same features at the relatively good deal than Apple's ipod touch. Most the customer's buy iPod just because these are devoted with the brand.
Brand Equity
"Brand is a symbol of extremely precious part of legal property, that can control consumer behavior and it also provides the safeguard of continual future earnings to the organization. Brand equity is named the total amount that is straight or indirectly accrues by these various benefits".
Kapferer, 2005; keller, 2003
Companies invest huge amount of money to develop brand equity. Brands with high equity win the area in the market because of the uniqueness, reliable services and ongoing and effective marriage with the clients.
Stronger brand image requires a company to financial advantage through the brand collateral. Brand equity leads a firm to ask for perineum charges for the product to raise their profit percentage.
