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    Unit 1.2 iNTRODUCTION TO BRAND MANAGEMENTS

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    Nishtha Verma
    This Unit contains the basics of brand management

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    Unit 1.2 iNTRODUCTION TO BRAND MANAGEMENTS

    Uploaded by

    Nishtha Verma
    1 views7 pages
    This Unit contains the basics of brand management

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    © © All Rights Reserved

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    PPTX, PDF, TXT or read online from Scribd

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    This Unit contains the basics of brand management

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    1 views7 pages

    Unit 1.2 iNTRODUCTION TO BRAND MANAGEMENTS

    Uploaded by

    Nishtha Verma
    This Unit contains the basics of brand management

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    You are on page 1of 7

    UNIT 1

    BRANDING STRATEGIES &


    CREATING BRAND EQUITY
    BRANDING STRATEGIES & CREATING
    BRAND EQUITY
    A branding strategy is a long-term plan for the development of a successful brand to
    achieve specific goals. A well-defined and executed branding strategy affects all
    aspects of a business and is directly connected to consumer needs, emotions, and
    competitive environments.

    Here are some common branding strategies to transform products into


    recognizable brands:
    a) Brand Positioning: Identifying a unique place in the mind of the consumer that differentiates the brand
    from competitors.

    Example: Coca-Cola positions itself as the “original” cola drink, focusing on nostalgia, tradition, and
    happiness.

    b) Brand Identity Creation: Creating a distinct visual identity, including logos, color schemes, fonts, and
    packaging, to differentiate the product from others.

    Example: Apple uses a minimalist design approach, focusing on sleek, clean aesthetics and innovative
    product design.

    c) Brand Extension: Using an existing brand name to launch products in a different category.

    Example: Dove extended its brand from soap to a range of skincare and haircare products, maintaining a
    consistent theme of “real beauty.”
    Co-Branding: Partnership between two brands to create a product or service that leverages both brands’
    strengths.

    Example: Nike and Apple co-branded to create the Nike+ Apple Watch, combining athletic performance with
    digital technology.

    e) Brand Storytelling: Crafting a compelling narrative around the brand to connect emotionally with
    consumers.

    Example: TOMS Shoes shares a story of social responsibility by donating a pair of shoes for every pair sold.

    f) Digital and Social Media Branding: Utilizing digital platforms and social media channels to build brand
    presence and engage with consumers.

    Example: Pepsi uses social media to share extreme sports content, reinforcing its brand identity as energetic
    and adventurous.
    Creating Brand Equity

    Brand equity refers to the value added to a product or service by its brand name, which
    can lead to customer loyalty, the ability to charge premium prices, and competitive
    advantage.

    Here are some key components and strategies to build brand equity:
    a) Brand Awareness: Ensuring that customers can easily recognize and recall the brand.

    Strategy: Use consistent branding across all channels, such as advertising, social media, and
    packaging.

    Example: McDonald's uses its golden arches logo and the “I’m Lovin’ It” slogan to create
    consistent global brand recognition.
    b) Perceived Quality: The perception of the quality of a brand in comparison to its
    competitors.

    Strategy: Focus on delivering high-quality products and services that meet or exceed
    consumer expectations.

    Example: Toyota has built brand equity through its reputation for reliable, high-quality
    vehicles.

    c) Brand Associations: The attributes and benefits consumers associate with a brand.

    Strategy: Align the brand with positive values, emotions, and experiences.

    Example: Disney is associated with family entertainment, magic, and happiness.


    d) Brand Loyalty: The tendency of consumers to continue buying the same brand.

    Strategy: Develop customer loyalty programs, personalized marketing, and excellent


    customer service.

    Example: Starbucks uses a rewards program to incentivize repeat purchases and create
    brand loyalty.

    e) Proprietary Brand Assets: Patents, trademarks, and proprietary technology that give the
    brand a competitive edge.

    Strategy: Protect intellectual property and innovate continuously.

    Example: Coca-Cola's secret formula is a proprietary asset that differentiates it from


    competitors.

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