Branding Elements and Strategies The nature, scope, and importance of branding in product planning The various branding elements The different types of brands How to classify branding strategies The right name is an important part of every successful business. The name and symbols of a business or a product project the personality of the company, product, or service.

private distributor brand generic brand brand extension brand licensing mixed-brand strategy co-branding strategy brand brand name brand mark trade name trade character trademark manufacturer brand

Branding A brand is a name, term, design, or symbol (or combinations of them) that identifies a business or organization and the products that they offer. Brands are divided into two categories: corporate brands product brands

Branding Corporate brands identify the business and reflect quality, value, and reliability. Example: Coca-Cola, Disney, McDonald's, and Citibank Product brands connote quality and reliability for a particular product. Example: Pepsi, Coke, Barbie, Whopper, and Big Mac

A brand name is the word, group of words, letters, or numbers of a brand that can be spoken. Example: PT Cruiser, Mountain Dew, SnackWells A brand mark is a symbol, design, or distinctive coloring or lettering that identifies a brand. Example: U.S. Postal Service's eagle, Apple Computer's apple

A trade name is the legal name under which a company or division of a corporation does business. Example: Amex, Dell, Kellogg's, and Xerox A trade character is a brand mark with human form or characteristics. Example: The Jolly Green Giant, the Pillsbury Doughboy A trademark is a brand name, brand mark, trade name, trade character, or a combination of these given legal protection by the federal government and noted by the trademark symbol () or (™).

Brand names, brand marks, trade names, trade characters, and trademarks are often combined to form a firm's corporate symbol or name.

Types of Brands Three classifications of brands are: manufacturer brands (national or producer) private distributor brands generic brands

TYPES OF BRANDS National Brands (producer brands) owned by national manufacturers Generate the majority of sales for most categories Examples: Hershey Foods, Whirlpool, Ford, Hilton, American Airlines, Kraft and Nestle Internet based national brands Amazon.com, eBay, Monster

Both are private distributor brands from SEARS TYPES OF BRANDS Private Distributor Brands private brands, store brands, or dealer brands Developed and owned by wholesalers and retailers Examples: Arizona for JC Penney, George for Wal-Mart, Villager for Kohl's Both are private distributor brands from SEARS

TYPES OF BRANDS Generic Brands Does not carry a company identity Packaging usually features a description of the product Example: Pancake Mix, Paper Towels Usually sold in supermarkets and discount stores Often sold for 30 – 50% less than name brands

BRAND STRATEGIES Brand Extension Brand Licensing Mixed Brands Co-Branding

BRAND EXTENTION A branding strategy that uses an existing brand name to promote a new or improved product in a company’s product line

BRAND LICENSING Some companies allow other organizations to use their brand, brand mark, or trade character through brand licensing Licensing company gets a fee (royalty) in return for authorization Has licensing agreements with

MIXED BRANDS Offer a combination of manufacturer, private distributor, and generic brands Their own National Brand tires Private Brand for SEARS

Co-BRANDING Combines one or more brands in the manufacture of a product or in the delivery of a service

Re-Branding Rebranding Rebranding - a change to the brand name, logo, or image of a product or company brand owner revisits the brand with the purpose of updating or revising

Branding is more than this:

…a promise to deliver value. Branding is… …a promise to deliver value.

That value comes from: Trust & familiarity Source: south.unc.edu Who the company collaborates with Source: technabob.com

Who do you collaborate with? Your personal brand works the same way Source: cheezburger.com How do you build people’s trust in you? Who do you collaborate with? Source: www.jisc.ac.uk

Effective brands understand their strengths The hacker Builds things Comes up with unexpected solutions to problems Will bend rules if it’s valuable to do so The hustler Sells things Enjoys presentations, debates and public speaking Excels at coming up with arguments The designer Designs things Shows empathy for the customer experience Is highly resilient and open to other people’s ideas Context: These three “personal brands” were identified by Steve Blank as the essential, complementary roles needed in an innovative startup team. Task: Each student spends 60 seconds considering which of these “brands” best describes them. On the Personal Branding handout, have students note the brand they identify with the most (the handout can be found in the Entrepreneurial Thinking Toolkit) Give each student either a green, blue or red sticker, depending on which brand they identify with the most Hint: After students have made their decision, survey the room to see which personal brands were most and least common. If there is a significant lack of one of the brands. point out that, because it is scarce, this brand is highly valuable. Then point out that we often adopt different brands depending on needs of the context we work in. Some students may therefore wish to change their stated brand based on what the market is telling them is valuable.