Chapter 31 Branding, Packaging, and Labeling1 Marketing Essentials UNIT Branding, Packaging, and Labeling Branding Elements and Strategies

Chapter 31 Branding, Packaging, and Labeling2 Branding Unit What You'll Learn 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

Chapter 31 Branding, Packaging, and Labeling3 Branding Unit Branding Elements and Strategies Why It's Important The right name is an important part of every successful business. The _____ and ______ of a business or a product reflect the personality of the company, product, or service.

Chapter 31 Branding, Packaging, and Labeling4 Branding Unit Branding Elements and Strategies A ______ is a name, term, design, or symbol (or combinations of them) that identifies a _________ or organization and the products that they offer. Brands are divided into two categories:  _______ brands  product brands Branding Slide 1 of 6

Chapter 31 Branding, Packaging, and Labeling5 Branding Unit Branding Elements and Strategies Branding Corporate brands identify the business and reflect _______, value, and reliability. Product brands show quality and reliability for a particular _______. Slide 2 of 6

Chapter 31 Branding, Packaging, and Labeling6 Branding Unit Branding Elements and Strategies Branding A brand name is the ______, group of words, letters, or numbers of a brand that can be _______. A brand mark is a _______, design, or distinctive coloring or lettering that identifies a brand. Slide 3 of 6

Chapter 31 Branding, Packaging, and Labeling7 Branding Unit Branding Elements and Strategies Branding A trade character is a brand mark with ______ form or characteristics. A trademark is a brand name, brand mark, trade name, trade character, or a combination of these given _____ __________ by the federal government and noted by the trademark symbol (  ). Slide 4 of 6

Chapter 31 Branding, Packaging, and Labeling8 Branding Unit Branding Elements and Strategies Brand names, brand marks, trade names, trade characters, and trademarks are often combined to form a firm's corporate ______ or name. Branding Slide 6 of 6

Chapter 31 Branding, Packaging, and Labeling TOP BRANDS GO TO BRANDZ 2014 TOP 100 PDF 9

Chapter 31 Branding, Packaging, and Labeling10 Branding Unit Branding Elements and Strategies Top Ten Brands Brands are often a company’s most valuable asset. What amounts of advertising spending do you think companies spend on their brand? Do you think these brands would continue to be valuable if the companies reduced or eliminated their advertising?

Chapter 31 Branding, Packaging, and Labeling11 Branding Unit Branding Elements and Strategies Importance of Brands in Product Planning The use of brands is important in product planning for several reasons. Branding:  builds customer _________  assures customers that products carrying the same brand are of a consistent ___________  addresses new _____ markets  establishes an image for a product or company

Chapter 31 Branding, Packaging, and Labeling12 Branding Unit Branding Elements & Strategies Branding Elements & Strategies Generating Brands ___________ percent of companies introduce a ________ product name each year. Brand names are generated by:  company ________  specialized computer software programs  _________ agencies, naming consultants, and public relations agencies ________ of all corporate name changes occur because of company mergers and acquisitions.

Chapter 31 Branding, Packaging, and Labeling13 Branding Unit Branding Elements and Strategies Three classifications of brands are:  National Brands  Private Brands  Generic Brands Types of Brands Slide 1 of 3

Chapter 31 Branding, Packaging, and Labeling14 Branding Unit Branding Elements and Strategies National Brands, also called ___________ brands, are owned and initiated by manufacturers.  Example: General Electric, Heinz, Motorola Private Brands, also called _________ brands or dealer brands, are owned and initiated by wholesalers and retailers.  Example: Radio Shack, Kmart Types of Brands Slide 2 of 3

Chapter 31 Branding, Packaging, and Labeling15 Branding Unit Branding Elements and Strategies Generic brands represent a __________ product category and do not carry a company or brand name. The packaging carries only a description of the product, such as “pancake mix” or “paper towels.” They are usually much cheaper than _________-name products. Types of Brands Slide 3 of 3

Chapter 31 Branding, Packaging, and Labeling16 Branding Graphic Organizer Types of Brands TYPES OF BRANDS NationalBrandsPrivateBrandsGenericBrands

Chapter 31 Branding, Packaging, and Labeling17 Branding Unit Branding Elements and Strategies Branding _________ are the ways companies use brands to meet sales and company objectives. Strategies include: 1. Brand Extensions 2. Brand Licensing 3. Mixed branding  co-branding Brand Strategies

Chapter 31 Branding, Packaging, and Labeling18 Branding Unit Branding Elements and Strategies Brand extension is a branding strategy that uses an _________ brand name for an improved or new product in the product line.  Example: Ocean Spray Cranberry Juice extended to Cran- Apple, Cran-Raspberry, etc. Advantages: Reduces risk of new product _____________ Disadvantages: ____ - ________ a product line can cause brand dilution Brand Extension

Chapter 31 Branding, Packaging, and Labeling19 Licensing Licensing Basics A ________ is a grant of permission to allow another to make use of intellectual property rights. The intellectual property right may be for a patent, trademark, trade secret, or copyright. The license may even be for technical or business "know-how." In the Sports World… License—the legal right to ____________ a team’s logo in exchange for payment. Protect the use of the name and symbols Advantages of Licensing In order to be successful, a licensing agreement should: Be ___________ beneficial to both parties One of the benefits to the licensor may be maximizing income by expanding market opportunities without large capital expenses. A benefit to the licensee may include rapid entry into a market using technology developed and tested by others. The licensor wants to maximize income from the license

Chapter 31 Branding, Packaging, and Labeling20 Branding Unit Branding Elements and Strategies Brand licensing is the legal _____________ by a trademarked brand owner to allow another company (the licensee) to use its brand, brand mark, or ______ character for a fee. Advantages: Enhance company image, sell more products Brand Licensing

Chapter 31 Branding, Packaging, and Labeling21 Branding Unit Branding Elements and Strategies A mixed-brand strategy involves simultaneously offering a _____________ of National, Private, and Generic brands.  Example: Union Carbide sells Glad brand garbage bags and generic brand garbage bags. Mixed Brands

Chapter 31 Branding, Packaging, and Labeling22 Branding Unit Branding Elements and Strategies A co-branding strategy combines one or more brands to increase customer ________ and sales for each individual brand.  Example: Kellogg’s Pop-Tarts are made only with Smucker’s fruit filling. ________ Coffee Co. opens coffee shops inside Barnes & Noble bookstores. Co-Branding

Chapter 31 Branding, Packaging, and Labeling23 Branding A SSESSMENT Reviewing Key Terms and Concepts 1. What is the difference between a brand name and a brand mark? 2. Why is branding important to product planning? 3. Name three types of brands. 4. List four different branding strategies.