Product Strategies

Branding

Brand: Name, term, symbol, design, or

combination of these that identifies the sellers goods

and services and distinguishes them from competitor’s products.

Brand Name: Part of the brand that can be

vocalized

Trademark: Brand, part of brand, or brand name that is registered for 20 years with the US Patent Office

and is given legal protection for the

exclusive use of the seller

ADV to Marketer-Perhaps the only thing competitors can’t copy-Often the most distinguishing characteristic-Helps encourage customer loyalty-Helps ease new product intro

ADV to RetailerBrands attract customers

Important part of retailer’s image

ADV to CustomerDistinguishes between goods

Simplifies shoppingIndication of product quality

Reduces consumer perceived risk

STEPSin Brand Name development

Identify objectives Generate brand name alternatives

Screen the alternativesConduct trademark search

Research consumers opinionsSelect brand name

Characteristics of a Good Brand Name

1. It should Identify product and set it apart from competition2. Should describe product or its function3. Should communicate an Important quality Inherent in the product4. Should be memorable and easy to pronounce

Branding Policies

Manufacturer’s vs. Distributor’s Brand

Generic Brands

Packaging1. Functional Utility

2. Facilitate PromotionalCommunication

Factors in Package Design1. Environmental and

resource considerations2. Financial and cost

factors3. Gov’t regulations