ANATOMY OF A BRAND On the competitive front

ANATOMY OF A BRAND On the competitive front - brand achieves distinction On the consumer front – brand adds value Brand – 1. product component 2. perceptual component 1. Product component – physical product 2. Perceptual element – invisible halo – image personality & positioning.

ANATOMY OF A BRAND Benefits & difficulties of product component v. The product attributes & their benefits often become key selling prepositions to attract customers. v. In competitive market it is difficult to create & maintain uniqueness in the products.

ANATOMY OF A BRAND v The perceptual components of a brand are intangibles that are associated with the brand. The various perceptual components are 1. User imagery: This signals self image, values, and lifestyle of the intended target customer. Raymond brand of suiting's convey a very distinct user imagery in their communication as “The complete man”

ANATOMY OF A BRAND 2. Emotional / psychological benefits: Brands create satisfying emotional states within the customers. Marketers associate certain feelings & emotions with the brand in the consumers mind. Johnson & Johnson brand is the epitome of love & care.

ANATOMY OF A BRAND 3. Brand personality: It is the visualization of brand in human terms (ie) brand personification. It humanizes a product. Eg. Johnson & Johnson Raymond

ANATOMY OF A BRAND 4. Brand image: It is how a brand is perceived by customers in totality. It is everything that is associated with a brand in a prospects perception.

ANATOMY OF A BRAND v Brand dimensions – 1. functional dimension 2. Emotional / symbolic dimensions 1. Functional dimension – products attributes & benefits - tangible properties. 2. Symbolic dimensions – intangible aspects of a brand.

ANATOMY OF A BRAND Two models of consumer purchase decisions: 1. Rational view: makes decision with a reason / logical orientation. 2. Emotion view – purchase decision driven by emotions like fear, joy, fantasy etc. ,

ANATOMY OF A BRAND v Reasons & emotions are two sides of a consumers mental make up. v Left human brain is rational, active and realistic. v The right brain is emotional. v Customers buying decisions will differ with left & right brain v In some situations we use left brain and in some other we use right brain.