Marketing

Topic Branding Strategy

Presented To: Mam Ammara Akram Presented By: Muhammad Imran Khan Roll No: 07-37 BS(IT) 4th Semester

Branding Branding is basically the ability to build and manage the brands. Brand is a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service.

Building Strong Brand Some analysts see brand as the major important asset of the company. Brands are more than just names and symbols. Example of McDonald’s

Brand Equity Brand equity is positive differential effect that knowing the brand name, has on customer response to the product or service. A brand with strong equity is a very valuable asset. Brand is a key element in the companies relationship with the consumers.

Brand equity … cont.. Brand represent consumer perception and feeling about a product and its performance – everything that the product or service means to consumers. In the final analysis, brand exists in the mind of consumers. Brands vary in the amount and value they have in market place.

Brand equity … cont.. Some brands such as Coca cola, Tide (Washing powder), Nike, Disney and others become larger than life icons that maintain their power in the market for years even generation. A powerful brand has a high brand equity. Brand valuation is process of estimating the total financial value of brand.

Advantage of Brand Equity High brand equity provides a company with more competitive advantages. A powerful brand enjoy a high level of consumer brand awareness and loyalty. Brand name carries high credibility, company can more easily launch line and brand extensions. A powerful brand offer more defense against serious price competition.

How to build a strong brand Brand position: Marketers need to position their brand clearly in target customer minds. They can position brands at any of following three levels Attributes Benefits Believes and Values

1 - Attributes At the lowest level they can position the brand on product’s attributes. However, attributes are desirable level of the brand positioning. Competitor can easily copy the attribute.

2 - Benefits A brand can be better positioning by associating its name with the desirable benefits. Some successful brands positions on benefits are VOLVO (safety), FedEx (guaranteed on time delivery), NIKE (Performance)

3 – Believes and Values The strongest brand go beyond attributes or benefits positioning. They are positioned on strong believes and values.

Brand name Selection Good name can add greatly to a product success. However, finding best name is a difficult task. It begins with carefully review of the product and its benefit, target market, proposed marketing strategies.

Brand Name Selection Desirable quality for good brand name include the following It should suggest something about product benefit and quality. E.g. Beauty Rest, Crafts Men. It should be easy to pronounce, recognize and remembers. Tide, Nokia. Brand name should be distinctive.

Brand Development Company can introduce line extension and brand extension, Multi brand and new brand. Line Extension: Extending an existing brand name to new form, color, size, Ingredient, Flavor of an existing product category.

Brand Extension: Extending an existing brand name to new product categories. Brand extension gives the new product, instant recognition and faster acceptance.

Multibrands: Companies often introduce additional brands in the same category. New Brands: A Company might believe that the power of its existing brand name is waning and a new brand name is needed.

Brand Sponsorship A manufacturer has four sponsorship options Manufacturer’s Brands Private Brands Licensing Co-branding

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