Date post: | 07-Jan-2017 |
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Creating Brand Creating Brand EquityEquity
By:- Kunal Upadhyay
What is Brand??What is Brand??• 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.
Role of BrandRole of Brand
• Identify the maker
• Simplify product handling
• Organize accounting
• Offer legal protection
•Signify quality
•Create barriers to entry
•Serve as a competitive advantage
•Secure price premium
The Scope of BrandingThe Scope of Branding• Endowing products and service with the
power of a brand.• Marketer can apply branding virtually
anywhere a consumer has a choice. It is possible to brand a physical good (Lux soap, Tata nano), a store (Big bazar, pantaloons), a service (Jet airways, icici bank), a person (Aamir khan, sachin tendulkar), a organization (Unicef, red cross), or an idea (Family planning, blood donation, freedom of speech )
Brand EquityBrand Equity
• The way consumer think, feel, and act with respect to the brand.
• The differential effect that brand knowledge has on consumer response to the marketing of that brand known as consumer-based brand equity.
• Brand knowledge consists of all the thoughts, feelings, experiences.
Division a Brand Strategy Division a Brand Strategy • Develop new brand elements• Apply existing brand elements• Use a combination of old and new• Line extension• Category extension• Licensed product• Brand line• Brand mix
Brand NameBrand Name
• Individual names• Blanket family names• Separate family names• Corporate name/individual name combo
Brand ExtensionBrand Extension
• Advantages of brand extension – Improved odds of new-products of success– Positive feedback effects
• Disadvantages of brand extensions– Brand dilution