Brand Brand A brand is a product service
Brand
Brand � A brand is a product, service, or concept that is publicly distinguished from other products, services, or concepts so that it can be easily communicated and usually marketed � A brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition. ” : American Marketing Association. � Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value for the object identified, to the benefit of the customers, its owners and shareholders.
Objectives of branding � To help consumers to remember the product � To deliver the product message clearly. � To reach the targeted customers emotionally. eg customer has emotional attachment to some brand example Godrej � To make consumers loyal to the product. � When people have a positive experience with a brand, they are likely to purchase that product again. � To give premium image for the product in the market. � Premium image help firm to charge high price. eg Louise phillippe � To easily expand the product � To reduce the expenses of marketing
Type of brand � Family branding The concept of this strategy is ‘One brand many products’. It means particular brand name for several related products. Family branding is also known as Umbrella branding. Eg: Himalaya product, Johnson& Johnson.
Type of Brand � Corporate branding This strategy builds brand identity by using the company name for the products offered. For example IBM computers, Apple etc.
Types of brand � Individual Branding This strategy is also known as individual product branding or multi branding. It gives a unique brand name for each product in a product line. The advantage is that each product gets a unique image and identity. Eg Hindusthan Unilever products like Rin. Sunlight, Surf Excel, Vim etc.
Type of brand � Combination branding This strategy uses both corporate name as well as the product’s brand name. For example : Microsoft Network(MSN), Microsoft excel.
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