Branding Marketing Objective 2.06.

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Presentation transcript:

Branding Marketing Objective 2.06

Questions Why do companies develop brands? How do they come up with brands? What makes a brand successful?

What is a Product Brand? A name, term, symbol or design that identifies a product and distinguishes it from a competitor. Product brands are trade names, brand names, brand marks, and trade characters.

Types of brands Manufacture Private Family Individual

Characteristics Effective Brands Easy to read, pronounce, and remember Create appealing images Distinctive Adaptable Appropriate packaging and advertising Known benefits from products Legally available

What do these brands promise? FORD Volvo Ollie's Allstate First Alert Michelin Scrubbing Bubbles Timex Watches

What can affect Brand name? Bad publicity Health scare Disaster Miracle Endorsement

Why create a brand? Product is easily identified If you have $ to Promote… Could be more profitable Build loyalty and recognition Creates jobs!!!!

Steps to brand creation Brainstorm ideas Set objectives Brand acceptance across cultures Test Marketing Legal issues Research names & Web addresses Choose the best brand name for product

Brand strategies Positioning Extension Licensing Co-Branding