Brand Concept TAF.pdf

7/30/2019 Brand Concept TAF.pdf

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Brandsaredifferentfromproductsinawaythatbrandsarewhattheconsumersbuy,whileproductsarewhatconcern/companiesmake.Brand isanaccumulationofemotionaland functional

associations.Brandisapromisethattheproductwillperformaspercustomersexpectations.Itshapes

customersexpectationsabouttheproduct.Brandsusuallyhaveatrademarkwhichprotectsthemfrom

useby

others.

A

brand

gives

particular

information

about

the

organization,

good

or

service,

differentiating itfromothers inmarketplace.Brandcarriesanassuranceaboutthecharacteristicsthat

make theproductor serviceunique.A strongbrand isameansofmakingpeopleawareofwhat the

companyrepresentsandwhatitsofferingsare.

Toaconsumer,brandmeansandsignifies:

Sourceofproduct Delegatingresponsibilitytothemanufacturerofproduct Lowerrisk Lesssearchcost Qualitysymbol Dealorpactwiththeproductmanufacturer Symbolicdevice

Brands simplify consumerspurchasedecision.Over aperiodof time, consumersdiscover thebrands

whichsatisfy theirneed. If theconsumers recognizeaparticularbrandandhaveknowledgeabout it,

theymakequickpurchasedecisionandsavelotoftime.Inaddition,theysavesearchcostsforproduct.

Consumers remain committed and loyal to a brand as long as they believe and have an implicit

understanding that the brand will continuemeeting their expectations and perform in the desired

mannerconsistently.As longas theconsumersgetbenefitsandsatisfaction fromconsumptionofthe

product, theywillmore likelycontinue tobuy thatbrand.Brandsalsoplayacrucial role in signifying

certainproductfeaturestoconsumers.

Toaseller,brandmeansandsignifies:

Basisofcompetitiveadvantage Wayofbestowingproductswithuniqueassociations Wayofidentificationtoeasyhandling Wayoflegalprotectionofproductsuniquetraits/features Signofqualitytosatisfiedcustomer Meansoffinancialreturns

A brand, in short, can be defined as a sellers promise to provide consistently a unique set of

characteristics,advantages,andservicestothebuyers/consumers.Itisaname,term,sign,symbolora

combinationofall theseplanned todifferentiate thegoods/servicesofone sellerorgroupof sellers

from thoseof competitors. Some examplesofwellknownbrands areMcDonalds,MercedesBenz,

Sony,CocaCola,Kingfisher,etc.


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Abrandconnectsthefourcrucialelementsofanenterprise

Customers, Employees, Managementand Shareholders.

Brandisnothingbutanassortmentofmemoriesincustomersmind.Brandrepresentsvalues,ideasand

evenpersonality. It isasetoffunctional,emotionalandrationalassociationsandbenefitswhichhave

occupied targetmarketsmind.Associationsarenothingbut the imagesand symbolsassociatedwith

thebrandorbrandbenefits,suchas,TheNikeSwoosh,TheNokiasound,etc.Benefitsarethebasisfor

purchasedecision.

Brand Attributes portray a companys brand characteristics. They signify the basic nature of brand.

Brand attributes are a bundle of features that highlight the physical and personality aspects of the

brand. Attributes are developed through images, actions, or presumptions. Brand attributes help in

creatingbrandidentity.

Astrongbrandmusthavefollowingattributes:

Relevancy

Astrongbrandmustberelevant.Itmustmeetpeoplesexpectationsandshouldperformthewaythey

want

it

to.

A

good

job

must

be

done

to

persuade

consumers

to

buy

the

product;

else

in

spite

of

your

productbeingunique,peoplewillnotbuyit.

Consistency

Aconsistentbrandsignifieswhatthebrandstandsforandbuildscustomerstrustinbrand.Aconsistent

brandiswherethecompanycommunicatesmessageinawaythatdoesnotdeviatefromthecorebrand

proposition.

Properpositioning

Astrongbrandshouldbepositionedsothatitmakesaplaceintargetaudiencemindandtheypreferit

overotherbrands.

Sustainable

A strong brandmakes a business competitive. A sustainable brand drives an organization towards

innovationandsuccess.ExampleofsustainablebrandisMarksandSpencers.


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Credibility

A strongbrand shoulddowhat itpromises.Theway you communicateyourbrand to theaudience/

customers should be realistic. It should not fail to deliver what it promises. Do not exaggerate as

customerswanttobelieveinthepromisesyoumaketothem.

Inspirational

Astrongbrandshouldtranscend/inspirethecategoryitisfamousfor.Forexample Niketranscendent

Jersey,PoloShirt.

Uniqueness

A strong brand should be different and unique. It should set you apart from other competitors in

market.

Appealing

Astrongbrandshouldbeattractive.Customersshouldbeattractedbythepromiseyoumakeandbythe

valuesyoudeliver.

Brandpositioningreferstotargetconsumersreasontobuyyourbrand inpreferencetoothers.It is

ensures that all brand activity has a common aim; is guided, directed and delivered by the brands

benefits/reasonstobuy;anditfocusesatallpointsofcontactwiththeconsumer.

Brandpositioningmustmakesurethat:

Isitunique/distinctivevs.competitors?

Isitsignificantandencouragingtothenichemarket?

Isitappropriatetoallmajorgeographicmarketsandbusinesses?

Isthepropositionvalidatedwithunique,appropriateandoriginalproducts?

Isitsustainable canitbedeliveredconstantlyacrossallpointsofcontactwiththeconsumer?

Isithelpfulfororganizationtoachieveitsfinancialgoals?

Isitabletosupportandboostuptheorganization?

Inorder to createadistinctiveplace in themarket,anichemarkethas tobe carefully chosenanda

differentialadvantagemustbecreated intheirmind.Brandpositioning isamediumthroughwhichan

organizationcanportrayitscustomerswhatitwantstoachieveforthemandwhatitwantstomeanto

them.Brandpositioningformscustomersviewsandopinions.


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Brand Positioning can be defined as an activity of creating a brand offer in such amanner that it

occupies a distinctive place and value in the target customersmind. For instanceKotakMahindra

positionsitself inthecustomersmindasoneentity Kotak whichcanprovidecustomizedandone

stopsolutionforalltheirfinancialservicesneeds.Ithasanunaidedtopofmindrecall.Itintendstostay

withthepropositionofThinkInvestments,ThinkKotak.Thepositioningyouchooseforyourbrandwill

beinfluenced

by

the

competitive

stance

you

want

to

adopt.

BrandPositioning involves identifyinganddeterminingpointsof similarityanddifference toascertain

therightbrand identityandtocreateaproperbrand image.BrandPositioning isthekeyofmarketing

strategy. A strong brand positioning directsmarketing strategy by explaining the brand details, the

uniquenessofbrandand itssimilaritywith thecompetitivebrands,aswellas the reasons forbuying

and using that specific brand. Positioning is the base for developing and increasing the required

knowledgeandperceptionsofthecustomers. It isthesinglefeaturethatsetsyourserviceapart from

yourcompetitors.For instance Kingfisherstands foryouthandexcitement. Itrepresentsbrand in full

flight.

Therearevariouspositioningerrors,suchas

Underpositioning This isa scenario inwhich the customershaveablurredandunclear ideaof the

brand.

Overpositioning Thisisascenarioinwhichthecustomershavetoolimitedaawarenessofthebrand.

ConfusedpositioningThisisascenarioinwhichthecustomershaveaconfusedopinionofthebrand.

DoublePositioning

This

is

ascenario

in

which

customers

do

not

accept

the

claims

of

abrand.

Brand identity stems from an organization, i.e., an organization is responsible for creating a

distinguishedproductwithunique characteristics. It ishowanorganization seeks to identify itself. It

representshowanorganizationwantstobeperceivedinthemarket.Anorganizationcommunicatesits

identity totheconsumers through itsbrandingandmarketingstrategies.Abrand isuniquedueto its

identity. Brand identity includes following elements Brand vision, brand culture, positioning,

personality,relationships,andpresentations.

Brand identity isabundleofmentaland functionalassociationswith thebrand.Associationsarenot

reasonstobuy but provide familiarity and differentiation thats not replicable getting it. These

associationscan

include

signature

tune(for

example

Britannia

ting

ting

ta

ding),

trademark

colours

(forexample BluecolourwithPepsi),logo(forexample Nike),tagline(forexample Applestaglineis

Thinkdifferent),etc.

Brandidentityisthetotalproposal/promisethatanorganizationmakestoconsumers.Thebrandcanbe

perceivedasaproduct,apersonality,asetofvalues,andaposition itoccupies inconsumersminds.


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Brandidentityisallthatanorganizationwantsthebrandtobeconsideredas.Itisafeaturelinkedwitha

specificcompany,product,serviceorindividual.Itisawayofexternallyexpressingabrandtotheworld.

Brand identity is the noticeable elements of a brand (for instance Trademark colour, logo, name,

symbol)that identifyanddifferentiatesabrand in targetaudiencemind. It isacrucialmeanstogrow

yourcompanys

brand.

Brandidentityistheaggregationofwhatallyou(i.e.anorganization)do.Itisanorganizationsmission,

personality,promisetotheconsumersandcompetitiveadvantages.Itincludesthethinking,feelingsand

expectations of the target market/consumers. It is a means of identifying and distinguishing an

organization from another. An organization having unique brand identity have improved brand

awareness,motivatedteamofemployeeswhofeelproudworkinginawellbrandedorganization,active

buyers, and corporate style.Brand identity leads tobrand loyalty,brandpreference,high credibility,

goodpricesandgood financial returns. Ithelps theorganization toexpress to thecustomersand the

targetmarketthekindoforganizationitis.Itassuresthecustomersagainthatyouarewhoyousayyou

are. Itestablishesan immediateconnectionbetween theorganizationandconsumers.Brand identity

shouldbesustainable.Itiscrucialsothattheconsumersinstantlycorrelatewithyourproduct/service.

Brandidentityshouldbefuturistic,i.e, itshouldrevealtheassociationsaspiredforthebrand.Itshould

reflect thedurablequalitiesofabrand.Brand identity isabasicmeansof consumer recognitionand

representsthebrandsdistinctionfromitscompetitors.

SYMBOLS

Symbolshelpcustomersmemorizeorganizationsproductsandservices.Theyhelpuscorrelatepositive

attributesthatbringuscloserandmake itconvenientforustopurchasethoseproductsandservices.

Symbols

emphasize

our

brand

expectations

and

shape

corporate

images.

Symbols

become

a

key

componentofbrandequityandhelp indifferentiatingthebrandcharacteristics.Symbolsareeasierto

memorizethanthebrandnamesastheyarevisual images.Thesecan includelogos,people,geometric

shapes, cartoon images, anything. For instance,Marlboro has its famous cowboy, Pillsbury has its

PoppinFreshdoughboy,Duracellhasitsbunnyrabbit,McDonaldhasRonald,FedExhasanarrow,and

Nikesswoosh.Allthesesymbolshelpusrememberthebrandsassociatedwiththem.

Brand symbols are strong means to attract attention and enhance brand personalities by making

customers likethem. It isfeasibleto learntherelationshipbetweensymbolandbrand ifthesymbol is

reflective/representative of the brand. For instance, the symbol of LG symbolize theworld, future,

youth,humanity,andtechnology.Also, itrepresentsLGseffortstokeepcloserelationshipswiththeir

customers.

LOGOS

A logo isaunique graphicor symbol that representsa company,product, service,orotherentity. It

representsanorganizationverywellandmakethecustomerswellacquaintedwith thecompany. It is


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duetologothatcustomersformanimagefortheproduct/serviceinmind.AdidassThreeStripesisa

famousbrandidentifiedbyitscorporatelogo.

Featuresofagoodlogoare,

Itshouldbesimple. Itshouldbedistinguished/unique.Itshoulddifferentiateitself. Itshouldbefunctionalsothatitcanbeusedwidely. Itshouldbeeffective,i.e.,itmusthaveanimpactontheintendedaudience. Itshouldbememorable. Itshouldbeeasilyidentifiableinfullcolours,limitedcolourpalettes,orinblackandwhite. Itshouldbeaperfectreflection/representationoftheorganization. It should be easy to correlate by the customers and should develop customers trust in theorganization.

Itshouldnotlooseitsintegritywhentransferredonfabricoranyothermaterial. Itshouldportraycompanysvalues,missionandobjectives.

Theelementsofalogoare:

Logotype Itcanbeasimpleorexpandedname.ExamplesoflogotypesincludingonlythenameareKelloggs,Hyatt,etc.

Icon It is a name or visual symbol that communicates amarket position. For exampleLIChands,UTIkalash.

Slogan It isbestwayofconveyingcompanysmessagetotheconsumers.For instance NikessloganJustDoIt.

TRADEMARKS Trademark isaunique symbol,design,orany formof identification thathelpspeoplerecognizeabrand.Arenownedbrandhasapopulartrademarkandthathelpsconsumers

purchasequalityproducts.Thegoodwillof thedealer/makerof theproductalsoenhancesby

use of trademark. Trademark totally indicates the commercial source of product/service.

Trademarkcontributeinbrandequityformationofabrand.Trademarknameshouldbeoriginal.

Atrademarkischosenbythefollowingsymbols:

(denotesunregisteredtrademark,thatis,amarkusedtopromoteorbrandgoods);

SM(denotesunregisteredservicemark)

(denotesregisteredtrademark).

Registrationoftrademarkisessentialinsomecountriestogiveexclusiverightstoit.Withoutadequate

trademark protection, brand names can become legally declared generic. Generic names are never

protectableaswasthecasewithVaseline,escalatorandthermos.


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Someguidelinesfortrademarkprotectionareasfollows:

Goforformaltrademarkregistration. Neverusetrademarkasanounorverb.Alwaysuseitasanadjective. Usecorrecttrademarkspelling. Challengeeachmisuseoftrademark,specificallybycompetitorsinmarket. Capitalize first letterof trademark. If a trademark appears inpoint,ensure that it standsoutfromsurroundingtext.

Brandimageisthecurrentviewofthecustomersaboutabrand.Itcanbedefinedasauniquebundleof

associationswithinthemindsoftargetcustomers.Itsignifieswhatthebrandpresentlystandsfor.Itisa

setofbeliefsheldaboutaspecificbrand.Inshort,itisnothingbuttheconsumersperceptionaboutthe

product. It is themanner inwhicha specificbrand ispositioned in themarket.Brand image conveys

emotionalvalueandnotjustamentalimage.Brandimageisnothingbutanorganizationscharacter.It

isanaccumulationofcontactandobservationbypeopleexternaltoanorganization.Itshouldhighlight

anorganizationsmissionandvisiontoall.Themainelementsofpositivebrandimageare uniquelogo

reflectingorganizations image, slogandescribingorganizationsbusiness inbriefandbrand identifier

supportingthekeyvalues.Brandimageistheoverallimpressioninconsumersmindthatisformedfrom

allsources.Consumersdevelopvariousassociationswiththebrand.Basedontheseassociations,they

form brand image. An image is formed about the brand on the basis of subjective perceptions of

associationsbundlethattheconsumershaveaboutthebrand.Volvoisassociatedwithsafety.Toyotais

associatedwithreliability.

The ideabehindbrand image isthattheconsumer isnotpurchasingjusttheproduct/servicebutalso

theimage

associated

with

that

product/service.

Brand

images

should

be

positive,

unique

and

instant.

Brand images can be strengthened usingbrand communications like advertising,packaging,wordof

mouthpublicity,otherpromotionaltools,etc.

Brand image develops and conveys the products character in a uniquemanner different from its

competitors image.Thebrand imageconsistsofvariousassociations inconsumersmind attributes,

benefitsandattributes.Brandattributesarethefunctionalandmentalconnectionswiththebrandthat

the customers have. They canbe specificor conceptual.Benefits are the rationale for thepurchase

decision.Thereare three typesofbenefits:Functionalbenefits whatdoyoudobetter (thanothers

),emotionalbenefits howdoyoumakeme feelbetter (thanothers),and rationalbenefits/support

whydo

Ibelieve

you(more

than

others).

Brand

attributes

are

consumers

overall

assessment

of

abrand.

Brand imagehasnot tobe created,but isautomatically formed.Thebrand image includesproducts'

appeal,easeofuse,functionality,fame,andoverallvalue.Brandimageisactuallybrandcontent.When

theconsumerspurchasetheproduct,theyarealsopurchasing its image.Brand image istheobjective

and mental feedback of the consumers when they purchase a product. Positive brand image is

exceedingthecustomersexpectations.Positivebrandimageenhancesthegoodwillandbrandvalueof

anorganization. Tosumup,Brandimageisthecustomersnetextractfromthebrand.


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Brand awareness is theprobability that consumers are familiar about the life and availabilityof the

product.Itisthedegreetowhichconsumerspreciselyassociatethebrandwiththespecificproduct.Itis

measuredasratioofnichemarketthathasformerknowledgeofbrand.Brandawarenessincludesboth

brandrecognitionaswellasbrandrecall.Brandrecognitionistheabilityofconsumertorecognizeprior

knowledgeofbrandwhen they are askedquestions about thatbrandorwhen they are shown that

specificbrand,

i.e.,

the

consumers

can

clearly

differentiate

the

brand

as

having

being

earlier

noticed

or

heard.Whilebrandrecallisthepotentialofcustomertorecoverabrandfromhismemorywhengiven

the product class/category, needs satisfied by that category or buying scenario as a signal. In other

words, itrefersthatconsumersshouldcorrectlyrecoverbrandfromthememorywhengivenaclueor

he can recall the specific brand when the product category ismentioned. It is generally easier to

recognizeabrandratherthanrecallitfromthememory.

Brandawarenessisimprovedtotheextenttowhichbrandnamesareselectedthatissimpleandeasyto

pronounceorspell;knownandexpressive;anduniqueaswellasdistinct.For instance CocaColahas

cometobeknownasCoke.

Therearetwotypesofbrandawareness:

Aided awareness This means that on mentioning the product category, the customersrecognizeyourbrandfromthelistsofbrandsshown.

Topofmindawareness (Immediatebrandrecall) Thismeansthatonmentioningtheproductcategory,thefirstbrandthatcustomerrecallsfromhismindisyourbrand.

The relative importanceofbrand recall and recognitionwill relyon thedegree towhich consumers

make productrelated decisions with the brand present or not. For instance In a store, brand

recognition ismorecrucialasthebrandwillbephysicallypresent. Inascenariowherebrandsarenot

physicallypresent,

brand

recall

is

more

significant

(as

in

case

of

services

and

online

brands).

Buildingbrand awareness isessential forbuildingbrand equity. It includesuseof various renowned

channels of promotion such as advertising, word of mouth publicity, social media like blogs,

sponsorships,launchingevents,etc.Tocreatebrandawareness,itisimportanttocreatereliablebrand

image,slogansandtaglines.Thebrandmessagetobecommunicatedshouldalsobeconsistent.Strong

brand awareness leads tohigh sales and highmarket share. Brand awareness canbe regarded as a

means throughwhich consumers become acquainted and familiarwith a brand and recognize that

brand.

BrandLoyaltyisascenariowheretheconsumerfearspurchasingandconsumingproductfromanother

brandwhichhedoesnottrust.Itismeasuredthroughmethodslikewordofmouthpublicity,repetitive

buying,pricesensitivity,commitment,brandtrust,customersatisfaction,etc.Brandloyaltyistheextent

towhichaconsumerconstantlybuysthesamebrandwithinaproductcategory.Theconsumersremain

loyal to a specific brand as long as it is available. They do not buy from other supplierswithin the

productcategory.Brandloyaltyexistswhentheconsumerfeelsthatthebrandconsistsofrightproduct


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characteristics and quality at right price. Even if the other brands are available at cheaper price or

superiorquality,thebrandloyalconsumerwillsticktohisbrand.

Brand loyal consumers are the foundation of an organization. Greater loyalty levels lead to less

marketingexpenditurebecausethebrandloyalcustomerspromotethebrandpositively.Also,itactsas

ameans

of

launching

and

introducing

more

products

that

are

targeted

at

same

customers

at

less

expenditure.Italsorestrainsnewcompetitorsinthemarket.Brandloyaltyisakeycomponentofbrand

equity.

Brand loyalty can be developed through various measures such as quick service, ensuring quality

products, continuous improvement,widedistributionnetwork,etc.When consumers arebrand loyal

they love you for being you, and they willminutely consider any other alternative brand as a

replacement.ExamplesofbrandloyaltycanbeseeninUSwheretrueApplecustomershavethebrand's

logotattooedontotheirbodies.Similarly inFinland,Nokiacustomersremained loyaltoNokiabecause

they admired the design of the handsets or because of user friendlymenu system used byNokia

phones.

Brandloyaltycanbedefinedasrelativepossibilityofcustomershiftingtoanotherbrandincasethereis

achange inproductsfeatures,priceorquality.Asbrand loyalty increases,customerswillrespond less

tocompetitivemovesandactions.Brandloyalcustomersremaincommittedtothebrand,arewillingto

payhigherprice for thatbrand, andwillpromote theirbrandalways.A companyhavingbrand loyal

customerswillhavegreatersales,lessmarketingandadvertisingcosts,andbestpricing.Thisisbecause

thebrandloyalcustomersarelessreluctanttoshifttootherbrands,respondlesstopricechangesand

self promotethebrandastheyperceivethattheirbrandhaveuniquevaluewhich isnotprovidedby

othercompetitivebrands.

Brandloyalty

is

always

developed

post

purchase.

To

develop

brand

loyalty,

an

organization

should

know

theirnichemarket, target them, support theirproduct, ensureeasy accessof theirproduct,provide

customersatisfaction,bringconstantinnovationintheirproductandofferschemesontheirproductso

astoensurethatcustomersrepeatedlypurchasetheproduct.

BrandAssociationsarenotbenefits,butare imagesandsymbolsassociatedwithabrandorabrand

benefit.Forexample TheNikeSwoosh,Nokiasound,FilmStarsaswithLux,signaturetuneTingting

tadingwithBritannia,Blue colourwithPepsi,etc.Associationsarenot reasonstobuybutprovide

acquaintanceanddifferentiation thatsnotreplicable. It is relatingperceivedqualitiesofabrandtoa

knownentity.For instance HyattHotelisassociatedwith luxuryandcomfort;BMWisassociatedwith

sophistication, fun driving, and superior engineering.Most popular brand associations arewith the

ownersofbrand,suchas BillGatesandMicrosoft,RelianceandDhirubhaiAmbani.


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Brandassociationisanythingwhichisdeepseatedincustomersmindaboutthebrand.Brandshouldbe

associatedwith somethingpositive so that the customers relate yourbrand tobeingpositive.Brand

associations are the attributesofbrandwhich come into consumersmindwhen thebrand is talked

about. It isrelatedwiththe implicitandexplicitmeaningswhichaconsumerrelates/associateswitha

specific brand name. Brand association can also be defined as the degree to which a specific

product/serviceis

recognized

within

its

product/service

class/category.

While

choosing

abrand

name,

it

isessential that thename chosen should reinforcean importantattributeorbenefitassociation that

formsitsproductpositioning.Forinstance Powerbook.

Brandassociationsareformedonthefollowingbasis:

Customerscontactwiththeorganizationanditsemployees; Advertisements; Wordofmouthpublicity; Priceatwhichthebrandissold; Celebrity/bigentityassociation; Qualityoftheproduct; Productsandschemesofferedbycompetitors; Productclass/categorytowhichthebrandbelongs; POP(Pointofpurchase)displays;etc

Positivebrandassociationsaredevelopediftheproductwhichthebranddepictsisdurable,marketable

anddesirable.The customersmustbepersuaded that thebrandpossess the featuresand attributes

satisfying their needs. Thiswill lead to customers having a positive impression about the product.

Positivebrandassociationhelpsanorganizationtogaingoodwill,andobstructsthecompetitorsentry

into

the

market.

Brandevokes the responses.Therearemanypeoplewho love theirApple iPodor love theircaretc.

Therearecertainfeelingsthatcometoyourmindwhenyouthinkaboutyour favoritebrands.People

expect that these brands should demonstrate brand promises every time whenever they are,

encountered. Inconsistencies in theperformanceof services can lead todamage in further relations.

Thiscancauseacustomertoselectsomeotherbrand.

Brandpromiseiswhatyousaytothecustomerandwhatistobedelivered.Ifyouarenotabletomeet

the

expectations

of

the

customer,

your

business

will

either

flounder

or

die.

If

you

are

not

able

to

deliver

the brand promise you will not be able to meet the expectations that have been created in the

customersmind.

Therearethreemajormistakes that thebusiness leadersmakewhileexecutinganddevelopingthe

brandpromise:


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The firstmajormistake iswhen you refuse to recognize the customerexpectations that arecreatedincustomersmindbeforeitcomesincontactwiththatparticularbrand.Thecustomers

are very easily able to realize yourbrandpromiseby thebusiness you aredealingwith. For

example, ifyouhaveagourmetrestaurantthenthecustomerswillhavea image intheirmind

thatitwilldifferentfromthelocalrestaurant.This isoneofthemajorreason,whyoneshould

workfor

every

smallest

detail.

For

example,

the

image

of

agourmet

restaurant

does

not

include

plasticmenusorpaperplacemats.

Thesecondmajormistake isto implementasystemwhichgivesanegativeexperiencetothecustomer.Businessleadersworkoncreatingefficientresultsforsavingtimeandmoney.Human

beingsareselfcenteredcreatureswithathoughtintheirmindtosavemoneyandtimeforus.

Forexample,acustomersasksdoyouacceptcreditcard?Doyouacceptallcreditcardsoronly

mastercardandvisa?Ifyoudontacceptthesecards,doesitmakeanydifference inthecost?

Itsjustthatyouarelosingsales.Thenwhataretheotherservicesyouaregivingtothecustomer

inplacewhichistheattractionforthecustomers.Anysmallinconveniencewhichwillforcethe

customertosaythatyouarenotcompletelyserviceorientedandencouragesthecustomerto

someother

brand.

Thethirdmajormistakeisthatwhenyouarenotabletohirethebestcandidate.Youeasilyhireanyone who applies and dont even put some efforts to train them gives a really terrible

experiencetothecustomers.Brandpromisesaredeliveredbythestaff. Ifyourgoal istobea

business leaderyouwill investtimetotrainthestaff. Ifyouselectapersonwho isverypolite

anddoesnotevenknowhowtodressupforan interviewthenyoucompetitionshouldsenda

thankyoucardforallthebusinessyouwillsendhisway.

Peoplewhowanttobecomethebusinessleaderunderstandtheyareagreatproductbrands.Theyare

authentic,dependableandreliable.Their icon istheirname.Deliveringthebestofthemselves istheir

brandpromise.

Do

you

want

to

become

winner

at

working?

Then,

deliver

the

brand

promise.

Attimes,organizationsareofteninspiredbyavarietyofideastocreateproductsandserviceswhichcan

beofferedlocallyorglobally.Generally,suchproductsorservicesrequiretheestablishmentofabrand

or company name. Often these brands include both logo and lettering and can do a long way in

advertisingsuchproductsorservices.Therefore,oneofthemostimportantstepsinbuildingaBrandis

decideuponabrandnamefortheproductorserviceonewishestosell.

Branding isaprocessthatallowsan individualoragroupof individuals theabilitytoprovideabrand

imageand

lettering

to

an

idea.

Upon

doing

so,

one

has

abetter

chance

of

selling

such

items

to

abroader

audiencewhether thatbeona localorglobal level.Therefore,whiletheoldadagenothinghappens

until somebody sells something, still stands true to some extent, at times almost seems as if the

processofadvertisingandbrandinghasovertakenthedesiretosell.


12/17

Although branding generally identifies the company and philosophies behind same, it can also be

representativeofthoseworkingforsuchacompany.Thisisagoodthingasitgeneratestherighttypeof

audience to theproductorservicebeingsoldbasedonpersonal relationshipswith those running the

company.Therefore,benefitingboththeorganizationssellingthebrandedproductorserviceand the

dealersbuyingsame.

Oneofthemost importantsteps insellinganyproductorservice isthebeliefoneholds inrelationto

the item. Therefore, only those who strongly believe in the products and services offered by the

companyaregoingtobegoodatsellingsame.Otherwise,onemaywanttoworkfromanadvertisingor

graphicartistperspective inrelationtoadvertisingratherthansaleswhen itcomestotimetomarket

same.

Anotherstep

is

to

build

abrand

that

maintains

loyalty

with

its

customer

base

and

has

astrong

customer

servicedepartment.For,havingsuchadepartmentintoday'sworldwhereoneisbothexperiencedand

knowledgeablewhenitcomestohelpingotherscanbeararefind.So,companieswhorepresentoneself

has having a strong customer base and even stronger customer service department areoftenmore

successfulthanthosewhodonot.

Avery importantstep inmarketingabrand isto identifythetargetaudiencebeforecreatingthe logo

andletteringinrelationtomarketing.Thisisbecausedifferentagegroupsreactdifferentlytoavariety

oflogoandletteringespeciallyassomuchismisrepresentedbyavarietyofgangsandothersusingsuch

materialinappropriately.

Therefore,

ifone

can

define

the

brand

name,

logo

and

lettering

and

present

sametoamarketingresearchreviewpanelorthelike,onemaybeabletogainabetterunderstanding

ofwhichaudienceoneneedstodirecttheirproductorservicetoinordertocreatethemostsales.Still,

ifonecan

Communicatetheuseoftheirproductorserviceclearly, Establishtrustwithinthecommunity,bethatlocallyorglobally, Aimmarketingattherightaudience, Buildabaseofbuyersandcustomerloyaltyandoffergreatcustomerservice,

Then

one

is

on

their

way

to

not

only

creating

and

advertising

an

excellent

brand

but

selling

one

as

well.

Therefore,whenlookingforstepsinbuildingabrand,therearemanystepswhichonecancompleteto

helpmake the creationof suchbrandaneasier task.These include,knowingyouraudience,building

yourbrand,findingagreatlogoandletteringtorepresentsame,targetingtheappropriateaudienceand

placinganumberofadsinasmanyonlineandofflineadvertisingvenuesonecanfind.For,afterdoing

so,onemayjustfindthattheyaresellingevenmoreproductsandservicesthanonehadeverdreamed

possible.


13/17

BrandEquityisthevalueandstrengthoftheBrandthatdecidesitsworth.Itcanalsobedefinedasthe

differential impactofbrandknowledgeonconsumers response to theBrandMarketing.BrandEquity

existsasa functionofconsumerchoice in themarketplace.TheconceptofBrandEquitycomes into

existencewhen consumermakes a choiceof aproductor a service. Itoccurswhen the consumer is

familiarwith thebrandandholdssome favorablepositivestronganddistinctivebrandassociations in

thememory.

BrandEquitycanbedeterminedbymeasuring:

ReturnstotheShareHolders. EvaluatingtheBrandImageforvariousparametersthatareconsideredsignificant. EvaluatingtheBrandsearningpotentialinlongrun. Byevaluatingtheincreasedvolumeofsalescreatedbythebrandcomparedtootherbrandsinthesameclass.

Thepricepremiumchargedbythebrandovernonbrandedproducts Fromthepricesofthesharesthatanorganizationcommands inthemarket(specifically ifthebrand name is identical to the corporate name or the consumers can easily corelate the

performanceof all the individualbrandsof theorganizationwith theorganizational financial

performance.

OR,Anamalgamationofalltheabovemethods.

FactorscontributingtoBrandEquity

9 BrandAwareness9 BrandAssociations9

Brand

Loyalty

Perceived Quality: refers to the customers perception about the total quality of the brand.While

evaluating quality the customer takes into account the brands performance on factors that are

significanttohimandmakesarelativeanalysisaboutthebrandsqualitybyevaluatingthecompetitors

brandsalso.Thusquality isaperceptualfactorandtheconsumeranalysisaboutqualityvaries.Higher

perceivedqualitymightbeusedforbrandpositioning.Perceivedqualityaffectthepricingdecisionsof

theorganizations.Superiorqualityproductscanbechargedapricepremium.Perceivedqualitygivesthe

customersareasontobuytheproduct. Italsocapturesthechannelmembers interest.For instance

AmericanExpress.

OtherProprietaryBrandAssets:Patents,TrademarksandChannelInterrelationsareproprietaryassets.

Theseassetsprevent competitorsattackon theorganization.Theyalsohelp inmaintaining customer

loyaltyaswellasorganizationscompetitiveadvantage.

BrandEquityisdefinedasvalueandstrengthoftheBrandthatdecidesitsworthwhereasCustomer

Equityisdefinedintermsoflifetimevaluesofallcustomers.


14/17

BrandEquityandCustomerEquityhavetwothingsincommon

Bothstressonsignificanceofcustomerloyaltytothebrand Both stress upon the face that value is created by having asmany customers as possible

payingashighpriceaspossible.

However,conceptuallybothbrandequityandcustomerequitydiffer.

While customer equityputs toomuchemphasison lower line financial value got from thecustomers, brand equity attempts to put more emphasis on strategic issues in managing

brands.

CustomerEquity islessnarrowalternative.Itcanoverlookabrandsoptionalvalueandtheircapacityeffectrevenuesandcostbeyondthepresentmarketingenvironment.

Justascustomerequitycanpersistwithoutbrandequity,brandequitymayalsoexistwithoutcustomerequity.For instance Imayhavepositiveattitude towardsbrands McDonaldand

BurgerKing,butImayonlypurchasefromMcDonaldsbrandconsistently.

To conclude,we can say brands do not existwithout consumer and consumerdo not existwithout

brands. Brands serve as a temptation that utilizes other intermediaries to lure the customers from

whomvalue isextracted.Customersserveasaprofitmediumforbrandstoencashtheirbrandvalue.

Boththeconceptsarehighlycorelated.

BrandExtensionistheuseofanestablishedbrandnameinnewproductcategories.Thisnewcategory

to which the brand is extended can be related or unrelated to the existing product categories. A

renowned/successfulbrandhelpsanorganizationtolaunchproductsinnewcategoriesmoreeasily.For

instance,Nikes

brand

core

product

is

shoes.

But

it

is

now

extended

to

sunglasses,

soccer

balls,

basketballs,andgolfequipments.Anexistingbrandthatgivesrisetoabrandextensionisreferredtoas

parentbrand.Ifthecustomersofthenewbusinesshavevaluesandaspirationssynchronizing/matching

thoseofthecorebusiness,andifthesevaluesandaspirationsareembodiedinthebrand,itislikelyto

beacceptedbycustomersinthenewbusiness.

Extendingabrandoutsideitscoreproductcategorycanbebeneficialinasensethatithelpsevaluating

product category opportunities, identifies resource requirements, lowers risk, andmeasures brands

relevanceandappeal.

Brandextension

may

be

successful

or

unsuccessful.

Instanceswherebrandextensionhasbeenasuccessare

Wiprowhichwasoriginallyintocomputershasextendedintoshampoo,powder,andsoap.

Marsisnolongerafamousbaronly,butanicecream,chocolatedrinkandaslabofchocolate.

Instanceswherebrandextensionhasbeenafailureare


15/17

IncaseofnewCoke,CocaColahasforgottenwhatthecorebrandwasmeanttostandfor. Itthought

thattastewastheonlyfactorthatconsumercaredabout.Itwaswrong.Thetimeandmoneyspenton

researchonnewCocaCola couldnot evaluate thedeepemotional attachment to theoriginalCoca

Cola.

RasnaLtd. IsamongthefamoussoftdrinkcompaniesinIndia.Butwhenittriedtomoveawayfromits

niche, ithasnthadmuch success.When it experimentedwith fizzy fruitdrink Oranjolt, thebrand

bombed even before it could take off.Oranjoltwas a fruit drink inwhich carbonateswere used as

preservative.Itdidntworkoutbecauseitwasoutofsynchronizationwithretailpractices.Oranjoltneed

toberefrigeratedanditalsofacedqualityproblems.Ithasashelflifeofthreefourweeks,whileother

soft drinksassuredlifeoffivemonths.

AdvantagesofBrandExtension

Itmakesacceptanceofnewproducteasy. Itincreasesbrandimage. Theriskperceivedbythecustomersreduces. Thelikelihoodofgainingdistributionandtrialincreases.Anestablishedbrandnameincreases

consumerinterestandwillingnesstotrynewproducthavingtheestablishedbrandname.

The efficiency of promotional expenditure increases. Advertising, selling and promotionalcostsarereduced.Thereareeconomiesofscaleasadvertisingforcorebrandanditsextension

reinforceseachother.

Costofdevelopingnewbrandissaved. Consumerscannowseekforavariety. Therearepackagingandlabelingefficiencies. Theexpenseofintroductoryandfollowupmarketingprogramsisreduced. Therearefeedbackbenefitstotheparentbrandandtheorganization. Theimageofparentbrandisenhanced. Itrevivesthebrand. Itallowssubsequentextension. Brandmeaningisclarified. Itincreasesmarketcoverageasitbringsnewcustomersintobrandfranchise. Customers associate original/core brand to new product, hence they also have quality

associations.

DisadvantagesofBrandExtension

Brand extension in unrelated markets may lead to loss of reliability if a brand name isextended too far. An organization must research the product categories in which the

establishedbrandnamewillwork.

Thereisariskthatthenewproductmaygenerateimplicationsthatdamagetheimageofthecore/originalbrand.


16/17

There are chances of less awareness and trial because themanagementmay not provideenough investment for the introduction of new product assuming that the spinoff effects

fromtheoriginalbrandnamewillcompensate.

Ifthebrandextensionshavenoadvantageovercompetitivebrandsinthenewcategory,thenitwillfail.

Cobranding

Cobrandingistheutilizationoftwoormorebrandstonameanewproduct.Theingredientbrandshelp

each other to achieve their aims. The overall synchronization between the brand pair and the new

producthastobekeptinmind.Exampleofcobranding CitibankcobrandedwithMTVtolaunchaco

brandeddebitcard.Thiscardisbeneficialtocustomerswhocanavailbenefitsatspecificoutletscalled

MTVCitibankclub.

Typesof

Co

branding

Cobrandingisoftwotypes:IngredientcobrandingandCompositecobranding.

Ingredient cobranding implies using a renowned brand as an element in the production ofanotherrenownedbrand.Thisdealswithcreationofbrandequityformaterialsandpartsthat

are containedwithinother products. The ingredient/constituentbrand is subordinate to the

primarybrand.Forinstance DellcomputershascobrandingstrategywithIntelprocessors.The

brandswhichareingredientsareusuallythecompanysbiggestbuyersorpresentsuppliers.The

ingredientbrand

should

be

unique.

It

should

either

be

amajor

brand

or

should

be

protected

by

apatent. Ingredient cobranding leads tobetterqualityproducts, superiorpromotions,more

access todistribution channelandgreaterprofits.The sellerof ingredientbrandenjoys long

termcustomerrelations.Thebrandmanufacturecanbenefitbyhavingacompetitiveadvantage

andtheretailercanbenefitbyenjoyingapromotionalhelpfromingredientbrand.

Composite cobranding refers touseof two renownedbrandnames in away that they cancollectivelyofferadistinctproduct/servicethatcouldnotbepossibleindividually.Thesuccess

ofcompositebrandingdependsuponthefavourabilityofthe ingredientbrandsandalsoupon

theextentoncomplementaritiesbetweenthem.

AdvantagesandDisadvantagesofCobranding

Cobrandinghas various advantages, such as risksharing, generationof royalty income,more sales

income, greater customer trust on the product, wide scope due tojoint advertising, technological

benefits,betterproductimagebyassociationwithanotherrenownedbrand,andgreateraccesstonew

sourcesof finance.But cobranding isnot free from limitations.Cobrandingmay failwhen the two

productshavedifferentmarketandareentirelydifferent.Ifthereisdifferenceinvisionsandmissionsof


17/17

the twocompanies, thenalsocompositebrandingmay fail.Cobrandingmayaffectpartnerbrands in

adversemanner. If thecustomersassociateanyadverseexperiencewithaconstituentbrand, then it

maydamagethetotalbrandequity.

Brand personality is the way a brand speaks and behaves. It means assigning human personality

traits/characteristics to a brand so as to achieve differentiation. These characteristics signify brand

behaviour through both individuals representing the brand (i.e. its employees) as well as through

advertising,packaging,etc.Whenbrandimageorbrandidentityisexpressedintermsofhumantraits,it

is called brand personality. For instance Allen Solley brand speaks the personality andmakes the

individual who wears it stand apart from the crowd. Infosys represents uniqueness, value, and

intellectualism.

Brandpersonality isnothingbutpersonificationofbrand.Abrand isexpressedeitherasapersonality

who embodies these personality traits (For instance Shahrukh Khan andAirtel, JohnAbraham and

Castrol)or

distinct

personality

traits

(For

instance

Dove

as

honest,

feminist

and

optimist;

Hewlett

Packardbrandrepresentsaccomplishment,competencyand influence).Brandpersonality istheresult

ofalltheconsumersexperienceswiththebrand.Itisuniqueandlonglasting.

Brandpersonalitymustbedifferentiatedfrombrandimage,insensethat,whilebrandimagedenotethe

tangible (physical and functional) benefits and attributes of a brand, brand personality indicates

emotionalassociationsof thebrand. Ifbrand image iscomprehensivebrandaccording toconsumers

opinion, brand personality is that aspect of comprehensive brand which generates its emotional

characterandassociationsinconsumersmind.

Brand

personality

develops

brand

equity.

It

sets

the

brand

attitude.

It

is

a

key

input

into

the

look

and

feelofanycommunicationormarketingactivitybythebrand.Ithelpsingainingthoroughknowledgeof

customers feelings about thebrand.Brandpersonalitydifferentiates amongbrands specificallywhen

they are alike inmany attributes. For instance Sony versusPanasonic.Brandpersonality isused to

makethebrandstrategylively,i.e,toimplementbrandstrategy.Brandpersonalityindicatesthekindof

relationshipacustomerhaswiththebrand. It isameansbywhichacustomercommunicateshisown

identity.

Brand personality and celebrity should supplement each other. Trustworthy celebrity ensures

immediate awareness, acceptability and optimism towards thebrand. Thiswill influence consumers

purchasedecisionand also createbrand loyalty.For instance Bollywood actressPriyankaChopra is

brandambassadorforJ.Hampstead,internationallineofpremiumshirts.

Brandpersonalitynotonly includes thepersonality features/characteristics,butalsothedemographic

features like age, gender or class and psychographic features. Personality traits arewhat the brand

existsfor.

_____________________________________

Documents

Brand Concept TAF.pdf