BRAND Concept: A name, term, sign, symbol, design, or a combination of these, that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors.

- Consumers view a brand as an important

part of a product, - branding can add value to a product.

- Customers attach meanings to brands and

develop brand relationships.

- Brands have meaning well beyond a

- product’s physical attributes.

Benefits of Brand to Buyers

1. Brand names help consumers identify products that might benefit them.

2. Brands also say something about product quality and consistency—buyers who always buy the same brand know that they will get the same features, benefits, and quality each time they buy.

3. Brand can act as a symbol of status to the product/ service user.

4. Can save customers time in choosing a product among different alternative products.

Benefits of Brand to Sellers

1. The brand name becomes the basis on which

a whole story can be built about a product’s

special qualities.

2. The seller’s brand name and trademark provide legal protection for unique product features that otherwise might be copied by competitors.

3. And branding helps the seller to segment markets.

Building Strong Brands

Brands are powerful assets that must be carefully developed and managed. As this figure suggests, building strong brands involves many challenging decisions. These include:1.Brand positioning, 2.Brand name selection,3.Brand sponsorship, and 4.Brand development.

Brand positioning

-A brand can be better positioned by associating

its name with a desirable benefit.- Brands are positioned on strong beliefs and

values.

- Successful brands engage customers on a deep, emotional level.

Brand Name Selection

A good name can add greatly to a product’s

success. However, finding the best brand name

is a difficult task. It begins with a:

a)Careful review of the product and its benefits,

b) The target market, and

c) Proposed marketing strategies.

Guidelines to Choose Brand Name

(1) It should suggest something about the product’s benefits and qualities.

(2) It should be easy to pronounce, recognize, and remember

(4) It should be extendable(5) The name should translate easily into foreign languages.(6) It should be capable of registration and legal

protection.

Brand sponsorship

1. National brand (or manufacturer’s brand)

2. private brand (also called a store brand or distributor brand).

3. Licensed brands.

4. Co-brand.