Module 3 - Fundamentals of Brand Management
Module 3 - Fundamentals of Brand Management
Module 3 - Fundamentals of Brand Management
LS OF BRAND
MANAGEMENT
Define what is
OBJECTIVES: BRAND, BRAND
MANAGEMENT,
BRAND NAME and
BRANDING
Distinguish the
different GOALS OF
BRANDING
Give the different
characteristics of
BRAND NAME
Brand
- refers to the identity of a
company, of a product, of a service,
or of an entrepreneur himself or
herself. A brand is a symbol of
promise or assurance from the
entrepreneur that what it purports
to the customers will happen.
Brand Management is the
supervision of the tangible and
intangible elements of a brand.
Tangible elements include the
product itself, its packaging,
its price and its location.
Intangible elements include
the perception and
relationship of the customers
with the brand
Branding
It is the process of integrating
the strategies formed from the
marketing mix to give an identity
to the product or service.
Goals of Branding:
1. Establishing to target customers
that the business is reliable and
trustworthy and that the
product/service is the superior
solution to their current problem
2. Differentiating with competitors
3. Driving customer loyalty and
retention
Brand name is a major differentiator of the
entrepreneur against the competitors. To be
different and catchy, a brand name must
possess the following characteristics:
Unique
Extendable
Can describe the benefits of the product or
service
Can be converted to other dialects or
languages in case the entrepreneur expands
to other territories
Can describe a product category
Can describe concrete qualities
Positive and inspiring
READ AND ANSWER
GOD BLESS!