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