BRANDING ELEMENTS AND STRATEGIES

BRANDING DECISIONSA brand is a name, term, symbol, or any other unique element of a product that identifies one firm’s product(s) and sets it apart from competitionBrand Mark

• is the part of the brand that is a symbol or design.Trade Name

• Identifies the company or a division of a particular corporationTrade Character

• Brand Mark with human form or characteristicsTrademark

• Brand name, brand mark, trade name, trade character, or combination of these that is legal protected by the government

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IMPORTANCE OF BRANDS IN PRODUCT PLANNING FOR SEVEN REASONSBuilds LoyaltySatisfiesEasily recognizedQualityAddress new marketsHelp when introducing a new productEstablishes imageBrands should

• be memorable• have a positive connotation• convey a certain image

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BRANDING STRATEGYBrands are powerful assets that must be carefully developed/managed.Brands with strong equity have many competitive advantages:

• High consumer awareness • Strong brand loyalty• Helps when introducing new products• Less susceptible to price competition

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BRAND PREFERENCE

Coke; 46.70%

Pepsi; 44.70%

Other; 8.60%

CokePepsiOther

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BRAND STRATEGY

Brand PositioningBrand Name Selection Brand SponsorshipBrand Development

Three levels of positioning:

• Product attributes• Least effective

• Benefits• Beliefs and values

• Taps into emotions

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Key Decisions

BRAND STRATEGY

Brand PositioningBrand Name Selection Brand SponsorshipBrand Development

Good Brand Names:• Suggest something about the

product or its benefits• Are easy to say, recognize

and remember• Are distinctive• Are extendable• Translate well into other

languages• Can be registered and legally

protected

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Key Decisions

BRAND STRATEGY

Brand PositioningBrand Name Selection Brand SponsorshipBrand Development

Manufacturer brandsPrivate (store) brands

• Costly to establish and promote

• Higher profit margins

Licensed brands• Name and character

licensing has grown

Co-branding• Advantages / disadvantages

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Key Decisions

BRAND STRATEGY

Brand PositioningBrand Name Selection Brand SponsorshipBrand Development

Line extensions• Minor changes to existing

productsBrand extensions

• Successful brand names help introduce new products

Multi-brands• Multiple product entries in a

product categoryNew brands

• New product category

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Key Decisions

MORE STRATEGIESBrand Licensing

• Legal authorization by a trademarked brand owner to allow another company to use its brand mark, trade character for a fee.

Mixed-Brand strategy• offer a combination of manufacturer, private distributor, and

generic brands.Co-Branding

• Combines one or more brands to increase customer loyalty and sales for each individual brand.

BRAND STRATEGY

FlavorsColors

FormsIngredients

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Line Extensions May Feature Different:

• Package Sizes

HOW 15 OF THE WORLD'S TOP BRANDS GOT STARTED

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