Brand Building

BRAND BUILDING
If customer today is really the king then the single most important job in marketing is the job of creating and retaining a customer. And the best way of creating and retaining customer is by building strong brands. In a simple equation: Brand = Product + Image A brand is more, much more than mere product it stands for. A brand is amalgam of physical product and notional images that go with the brand. When we recall a brand, not only do we recall the physicality of the product but also the images it conjures. The hub of advertising today is to go beyond mere selling. Advertising has to create those positive images that linger in the consumers mind, i.e. endow the brand with all those positive values that will make it more attractive to the target consumers. The American Marketing Association defines a Brand as a name, term, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. A brand is a complex symbol that can convey up to six levels of meaning. 1. Attribute A brand brings to mind certain attributes (Mercedes suggests expensive, well-built, well-engineered, durable, high-prestige automobiles). 2. Benefit The attribute must be translated into functional and emotional benefits (The attribute durable could be translated into functional benefit I wont have to buy another car for several years. The attribute expensive translates into emotional benefit- the car makes me feel important and admired) 3. Values - The brand also says something about the producers values. Mercedes stands for high performance, safety and prestige. 4. Culture The brand may represent certain culture. The Mercedes represents German Culture: organized, efficient, high quality. 5. Personality The brand can project a certain personality. The Mercedes may suggest a no-nonsense boss(person), efficient, high quality. 6. User The brand suggests the kind of consumer who buys or uses the product. We would expect to see a 55+year old executive behind the wheel of a Mercedes, not a 20 year old secretary.
Branding Is a Process: 1. Brand Name 2. Brand Looks 3. Brand Associations 4. Brand Personality 5. Brand Attitude All these above are manageable concepts, born and brought up in the minds and hearts of consumers, linked to each other in more ways than one. These if added to product lead to creation of a brand. These form part of suggested process of Branding and together lead to Brand Relationship, the output of the process of Branding. Brand Relationship: Is the ultimate achievement need of branding. All other aspects (e.g. Brand Positioning) might happen but if this doesnt happen the job is incomplete. Brand Relationship happens if image and attitude for brand exists. It is the resultant effect of these two aspects of a brand. Brand Attitude: Defines what the brand thinks about the consumer, as per the consumer. A brand may have attitude on one or more aspects. Brand Image: Includes two aspects of a brand its association and its personality. A brand may have image on one or more aspects. Brand Association: Includes all that is linked up in the memory about the brand. It could be specific to attributes, features, benefits or looks of the brand. A brand may have range of associations. But one association that stands out in memory and differentiates it becomes the Position of a brand. A brand may have one or more association but no Position. Brand Looks: Is represented by brand name and its symbol. To reinforce brand association brand name is a must. Symbol may not be necessary but if it exists it simplifies the process of brand relationship. Brand Symbol: Includes two visual signals of a brand its character (e.g. Amul girl, Pillsbury Doughboy, Asian Paints Gattu) and its logo. Necessary aspects for brand relationship to exist are: Brand Name, Brand Association and Brand Attitude. Highly desirable aspects for brand relationship to exist are (excluding the necessary aspects) Brand Position & Brand Symbol
Brand Symbols: Can be created across ten concepts in order to add value to brands.
1. Non living characters: Jolly Green Giant- Doughboy for Pillsbury, Captain Cook, Strong Man for MRF 2. Animal: Tiger for Britannia Biscuits, Dog for HMV, Tortoise for Mosquito Coils 3. Package: Famous Coke bottle 4. Nature: Coconut Tree for Hair Oil, Apple for Apple Computer, Lime for Cinthol 5. Things/Objects: Wheel for Wheel detergent, Sword for Dettol, 6. People: Mom with a sleeping baby for Goodknight, Girl in white frock- Nirma 7. Geometric Shapes: HP, BPCL, State Bank of India, Maruti 8. Scenes: Marlboro Country, Liril Waterfall 9. Monuments: Taj Mahal Taj Tea, Char Minar for Charminar Cigaretts 10. Logo: When none of the above exists its logos is the only symbol
BRAND EQUITY
There are Five levels of customer attitude towards a brand from lowest to highest: 1. Customer will change brands, especially for price reasons No Brand Loyalty. 2. Customer is satisfied and would incur costs by changing brand 3. Customer is satisfied. No reason to change the brand. Brand Acceptability 4. Customer values the brand and sees it as a friend. Brand Preference 5. Customer is devoted to the brand. Brand Equity is highly related to how many customers are in classes 3, 4, or 5 above. It is also related to the degree of brand-name recognition, perceived brand quality, strong mental and emotional associations and other assets such as patents, trade marks and channel relationships. Customers will pay more for a strong brand. Brand Equity is an asset and defined as the
positive differential effect that knowing the brand name has on customer response to the product or service. Brand Equity results in customer showing a preference for a product over another when they are basically identical. The extent to which the customers are willing to pay more for the particular brand is a measure of BRAND EQUIY.
High Brand Equity Provides a Number of Competitive Advantages: The company will have more trade leverage in bargaining with distributors and retailers because customers expect them to carry brands. The company can charge higher price than its competitors because the brand has higher perceived quality. The company can more easily launch Brand extensions because the brand name carries high credibility The brand offers the company some defense against price competition.
Branding gives seller the opportunity to attract a loyal and profitable set of customers The sellers brand name and trademark provide legal protection of unique product features. Enter diff segments Corporate Image

Brand Building

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BRAND BUILDING

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