LEVERAGIING SECONDRY BRAND ASSOCIATION

Submitted to Submitted By

Manbeena Lehal Arsh Koul

Ishneet

WHAT IS SECONDRY BRAND ASSOCIATION?

Some association become transferred from other entity to brand. Brand borrows some brand knowledge depending on nature of association perhaps some brand equity from other entity.

DIFFERENT MEANS TO CREATE BRAND KNOWLEDGE

COMPANY

Branding strategy is important determinant of the strength of association from the brand to the company and any other existing brands. Three main options exist for a new product are

Create a new brand Adopt or modify the existing brand Combine an existing and new brand

COUNTRY OF ORIGIN

Besides the company that makes the product, the country or the geographic location from which it originates may also become linked to brand and generate secondary brand associations. The world is becoming the cultural bazaar where consumers can pick and choose brands originating in different countries.

Eg BMW – GERMANY

MONT BLANC PENS - SWITZERLAND

CO-BRANDING

When two or more existing brands are joined or marketed in same fashion. There are many different sub-sections of co-branding. Companies can work with other companies to combine resources and leverage individual core competencies, or they can use current resources within one company to promote multiple products at once.

The forms of co-branding include:

1 Ingredient co-branding

2 Same-company co-branding

3 Joint venture co-branding

4 Multiple sponsor co-branding

No matter which form a company chooses to use, the purpose is to respond to the changing marketplace, build one’s own core competencies, and work to increase product revenues.

LICENSING

It creates contractual arrangement where by firms can use name, logos, characters and so forth other brands to market there own brands for some fixed fee. Essentially a firm is renting another brand to contribute to brand equity of its own product

Eg :Entertainment licensing has become big business in recent years.

CELEBRITY ENDORSEMENT

Draws attention to brand Shapes the perception of brand Celebrity should have high level of visibility and a rich

set of useful associations , judgments and feeling

SPORTING, CULTURAL OR OTHER EVENTS

Sponsored events can contribute to brand equity by becoming associated to brand and improving brand awareness. The main means by which an event can transfer associations is credibility .

THIRD PARTY SOURCES

Marketers create secondary association by linking the brand to various third party sources.

Third party sources can be especially credible sources. As a result marketers often feature them in advertising

campaigns and selling efforts. Eg pharma companies have encouraged the doctors to

prescribed there drugs