Brand:What is the origin of branding?

The word brand is derived from Old English Meaning burning stick (and ultimately from the Indo-European word Meaning to be hot Livestock branding was used by the ancient Egyptians as early as 2700 BC as a theft deterrent, as stolen animals could then be readily identifiable. In marketing Brand is the symbolic embodiment of all the information connected with a company, product or service. It also encompasses the set of expectations associated with a product or services which typically arises in the mind of people. Such people includes employees of the brand owner, people involved with distribution, sale or supply of the product and ultimately consumers. Brand typically includes (a) Name (b) Logo (c) Visual Elements as images, fonts, colour schemes or symbols Therefore it makes sense to understand that branding is not about getting your target market to choose you over the competition, but it is about getting your prospects to see you as the only one that provides a solution to their problem. Objectives that a good brand will achieve include: (1) Be legally protectable (2) Be easy to pronounce (3) Be easy to remember (4) Be easy to recognize (5) Delivers the message clearly (6) Confirms your credibility (7) Connects your target prospects emotionally (8) Motivates the buyer (9) Concretes User Loyalty (10) Distinguish the products positioning relative to the competition Brand Management:The Art of creating & maintaining a brand is called Brand Management OR in other words Brand management is the application of marketing techniques to specific product, product line or brand . Practically this involves managing the tangible and intangible aspects of the brand. For product brands the tangibles are the product itself, the packaging, the price, etc. For service brands, the tangibles are to do with the customer experience & for the retail environment tangibles are interface with salespeople, overall satisfaction, etc Brand Franchise:-

Where brand recognition builds up to a point where a brand enjoys a mass of positive sentiment in the marketplace it is said to have achieved brand franchise.

Brand Equity:Brand equity is the value built up in a brand, the value of company brand equity can be calculated by comparing the expected future revenue from the branded product with the expected future revenue from an equivalent non branded product. Firms may seek to influence brand equity, but it is consumer who determines brand equity & its value, there are 2 types of brand equity (1) Positive brand equity (2) Negative brand equity Positive brand equity is created by a history of effective promotion & consistently meeting or exceeding customers expectations & negative brand equity s usually the result of bad management. Positive brand equity can be significant barrier to entry for prospective competitors .The greater company brand equity, the greater the probability that the company will use family branding strategy rather then an individual branding strategy. This is because family branding allows them to leverage off the equity accumulate din the core brand .This makes new product introduction less risky & less expensive. Elements of Brand Equity: (1) (2) (3) (4) Brand Loyalty Brand Awarness Perceived Quality Brand Associations

Kinds of Brands/Branding: - Following are the types of brand or brandings (1) (2) (3) (4) (5) (6) Premium Brand Economy Brand Fighting Brand Service Brand Family Branding Monolithic Brand (7) Multiple Branding (8) Corporate Branding (9) Power Branding (10) Parent Brand (11)Brand Leveraging (12)Private Branding or store Brand (13)Co-Branding (14)Brand Licensing Premium Brand: - This brand typically cost more than other products in the category Economy Brand: - Its a brand targeted to a high price elasticity market segment Fighting Brand: - Its a brand created specifically to counter s competitor threat Service Brand:-A product consisting predominantly of intangible values. "A service is something that you can buy and sell, but not drop on your foot" (The Economist). In this sense, a service is something that you do for somebody, or a promise that you make to them.

Family Branding:- when one brand name is used for several related products it is called Family Branding. Monolithic Brand: - A single brand name that is used to "masterbrand" all products or services in a range. Individual products are nearly always identified by alpha or numeric signifiers. Companies like Mercedes and BMW favor such systems.

Multibrand Strategy /Multiple Branding: - Marketing of two or more mutually competing products under different brand names by the same company. The motive may be that the company wishes to create internal competition to promote efficiency, or to differentiate its offering to different market segments, or to get maximum mileage out of established brands that it has acquired. When a company has achieved a dominant market share, multibrand strategy may be its only option for increasing sales still further without sacrificing profitability. For example, Lever Brothers sells washing powders under the Persil, Omo and Surf names; Cadbury sells chocolates under the Dairy Milk, Bourneville and Fruit & Nut names; Heinz sells canned convenience foods under the Baked Beans, Spaghetti Hoops and Alphabetti Spaghetti names. Corporate Branding: - When a companys name is used as a product brand name, this is referred to as corporate branding for example Disney, includes the word Disney in the name of many of its product, another examples are coca-cola, IBM Power Branding:-A strategy in which every product in a company's range has its own brand name which functions independently, unsupported by either the company's corporate brand or its other product brands. Power branding is a resource-intensive strategy, since each brand must be commercially promoted and legally protected. This strategy is used mainly by manufacturers of consumer goods. Lever's and Procter & Gamble's detergents are good examples of power brands. Parent Brand :-A brand that acts as an endorsement to one or more sub-brands within a range. Brand Leveraging: - When a company uses a brand equity associated with an existing brand name to introduce a new product or product line, this is referred to as Brand leveraging Private Branding or store Branding:- When large retailers buy products in bulk from manufactures & put their own brand name on them this is called private branding or store branding . Co-Branding:- When two or more brands work together to market their products, this is referred to as co-branding Brand licensing: - When a company sells the rights to use a brand name to another company for use on a non competing product or in another geographical area, this is referred to as brand licensing Brand Architecture: - How an organization structures and names the brands within its portfolio. There are three main types of brand architecture system (5) monolithic (6) Endorsed (7) Free standing Monolithic: - where the corporate name is used on all products and services offered by the company. Endorsed: - where all sub-brands are linked to the corporate brand by means of either a verbal or visual endorsement

Free Standing: - where the corporate brand operates merely as a holding company, and each product or service is individually branded for its target market. Brand Associations: - The feelings, beliefs and knowledge that consumers (customers) have about brands. These associations are derived as a result of experiences and must be consistent with the brand positioning and the basis of differentiation. Brand Commitment: - The degree to which a customer is committed to a given brand in that they are likely to re-purchase/re-use in the future. The level of commitment indicates the degree to which a brand's customer franchise is protected form competitors. Brand Earnings:-The share of a brand-owning business's cash flow that can be attributed to the brand alone. Brand Essence: - The brand's promise expressed in the simplest, most single-minded terms. For example, Volvo = safety; AA = Fourth Emergency Service. The most powerful brand essences are rooted in a fundamental customer need. Brand Experience: - The means by which a brand is created in the mind of a stakeholder. Some experiences are controlled such as retail environments, advertising, products/services, websites, etc. Some are uncontrolled like journalistic comment and word of mouth. Brand Harmonisation: - Ensuring that all products in a particular brand range have a consistent name, visual identity and, ideally, positioning across a number of geographic or product/service markets. Brand Identity: - The outward expression of the brand, including its name and visual appearance. The brand's identity is its fundamental means of consumer recognition and symbolizes the brand's differentiation from competitors. Brand Image: - The customer's net "out-take" from the brand. For users this is based on practical experience of the product or service concerned (informed impressions) and how well this meets expectations; for non-users it is based almost entirely upon uninformed impressions, attitudes and beliefs. Brand Parity: - A measure of how similar or different, different brands in the same category are perceived to be. Brand parity varies widely from one category to another. It is high for petrol, for example: about 80% of respondents (BBDO survey) see no real difference between brands. By contrast, brand parity for cars is low: only about 25% of respondents say that one make is much the same as another. Brand Personality: - The attribution of human personality traits (seriousness, warmth, imagination, etc.) to a brand as a way to achieve differentiation. Usually done through long-term above-the-line advertising and appropriate packaging and graphics. These traits inform brand behavior through both prepared communication/packaging, etc., and through the people who represent the brand - its employees. Brand Platform The Brand Platform consists of the following elements: Brand Vision: - The brand's guiding insight into its world. Brand Mission:-How the brand will act on its insight. Brand Values: The code by which the brand lives. The brand values act as a benchmark to measure behaviors and performance. Brand Personality: - The attribution of human personality traits (seriousness, warmth, imagination, etc.) to a brand as a way to achieve differentiation. Usually done through long-term above-the-line advertising and appropriate packaging and graphics. These traits inform brand behavior through both prepared communication/packaging, etc., and through the people who represent the brand - its employees. Brand Tone of Voice: - How the brand speaks to its audiences.

Brand Positioning: - The distinctive position that a brand adopts in its competitive environment to ensure that individuals in its target market can tell the brand apart from others. Brand Strategy: - A plan for the systematic development of a brand to enable it to meet its agreed objectives. The strategy should be rooted in the brand's vision and driven by the principles of differentiation and sustained consumer appeal. Brand Valuation: - The process of identifying and measuring the economic benefit - brand value - that derives from brand ownership. Branding: - Selecting and blending tangible and intangible attributes to differentiate the product, service or corporation in an attractive, meaningful and compelling way. Corporate Identity: - At a minimum, is used to refer to the visual identity of a corporation (its logo, signage, etc.), but usually taken to mean an organization's presentation to its stakeholders and the means by which it differentiates itself from other organizations. Counterfeiting: - When an organization or individual produces a product that looks like a branded product and is packaged and presented in a manner to deceive the purchaser. Customer Relationship Management (CRM) :- Tracking customer behavior for the purpose of developing marketing and relationship-building processes that bond the consumer to the brand. Demographics: - The description of outward traits that characterize a group of people, such as age, sex, nationality, marital status, education, occupation or income. Decisions on market segmentation are often based on demographic data. Differential Product Advantage: - A feature of a product that is valuable to customers and is not found in other products of the same category. Diversion: - When genuine product is sold to a buyer in one market/channel and then resold by the same buyer into another market/channel, without the consent or authority of the brand owner, to take advantage of a price arbitrage situation. Definition also applies to parallel trade, gray market or gray market activities Mass Marketing: - Simultaneous standardized marketing to a very large target market through mass media. Other names for this are market aggregation and undifferentiated marketing. Master brand: - A brand name that dominates all products or services in a range or across a business. Sometimes used with sub-brands, sometimes used with alpha or numeric signifiers. Audi, Durex, Nescafe and Lego, for example, are all used as masterbrands. Names:There are three basic categories of brand (or corporate) name: Descriptive name A name which describes the product or service for which it is intended, e.g., TALKING PAGES. Associative name A name which alludes to an aspect or benefit of the product or service, often by means of an original or striking image or idea, e.g., VISA. Freestanding name A name which has no link to the product or service but which might have meaning of its own, e.g., PENGUIN.

Niche Marketing: - Marketing adapted to the needs, wishes and expectations of small, precisely defined groups of individuals. A form of market segmentation, but aimed at very small segments. Niche marketing characteristically uses selective media Passing Off: - The name given to a legal action brought to protect the "reputation" of a particular trademark/brand/get up. In essence, the action is designed to prevent others from trading on the reputation/goodwill of an existing trademark/brand/get up. The action is only available in those

countries that recognize unregistered trademark rights (for example the UK and US). In some countries, it is called "unfair competition action." Positioning Statement: - A written description of the position that a company wishes itself, its product or its brand to occupy in the minds of a defined target audience. Rebrand: - When a brand owner revisits the brand with the purpose of updating or revising based on internal or external circumstances. Rebranding is often necessary if the brand has outgrown its identity/marketplace. Relaunch:-Reintroducing a product into a specific market. The term implies that the company has previously marketed the product but stopped marketing it. A relaunched product has usually undergone one or more changes. It may, for example, be technically modified, rebranded, distributed through different channels or repositioned. Repositioning:-Communications activities to give an existing product a new position in customers' minds and so expanding or otherwise altering its potential market. Many potentially valuable products lead an obscure existence because they were launched or positioned in an inadequate manner. It is almost always possible to enhance the value of such products by repositioning them. Share of Mind:-There are many definitions of share of mind. At its most precise, share of mind measures how often consumers think about a particular brand as a percentage of all the times they think about all the brands in its category Share of Voice:-The media spending of a particular brand when compared to others in its category. Tangibles: "Tangible" - capable of being touched. (1) Tangible assets - manufacturing plant, bricks and mortar, cash, investments, etc. (2) Tangible brand attributes - the product and its packaging. (3) Tangible brand values - useful qualities of the brand known to exist through experience and knowledge. Top-of-Mind: - What is present in the uppermost level of consciousness; the manufacturer or brand that people in market surveys name first when asked to list products in a specific category. Top-of-mind is the highest degree of share of mind. To attain that position, a company normally needs to have a large share of voice in its category. Trademark: - Any sign capable of being represented graphically which is capable of distinguishing goods or services of one undertaking from those of another undertaking Trademark Infringement: - A trademark registration is infringed by the unauthorized use of the registered trademark, or of one that is confusingly similar to it, on the registered goods or services, or in certain circumstances on similar or dissimilar goods and services. Visual Identity: - What a brand looks like - including, among other things, its logo, typography, and packaging and literature systems Advertising 5 M's:- The 5 major decisions in developing an advertising program - Mission, Money, Message, Media, and Measurement. These are identified after a marketing manager has identified the target market and buyer motives Brand Genericide: - Category leaders become complacent and the relationship between the brand and consumer is weakened allowing private labels and generics to enter the market. To counter this, brand equity must be reestablished. Bundling:-Sellers often bundle their products at a set price that is generally less of a cost than if purchased individually.

Campaign Effectiveness:-The results of a campaign in terms of increased sales, increase in market share or change in level of awareness; also includes assessment of the reasons for the campaign success or failure. Category Management:-Manufacturers compete with each other to help retailers manage their categories in the stores in order to maximize variety and profits. For each category, there is a portfolio of brands that offers consumers products at prices they want to pay. Character Symbol:-Historical figures, animated characters, animals, objects that are used to advertise a brand and that come to be associated with the brand, e.g. Joe Camel for Camel cigarettes, Charlie Chaplin (played by an actor) in IBM ads. Conjoint Analysis:-A popular research method for deriving the utility values that consumers attach to varying levels of a product's attributes. Management can use the results to determine the most appealing offer and estimated market share and profit the company might realize. Consumer Adoption Process: -Used by managers to build an effective strategy for market penetration. The stages of the process are: Awareness, Interest, Evaluation, Trial, and Adoption. Consumer movement through each of these phases should be managed.

Consumer Behavior:-Research that focuses on psychographics, e.g. the criteria for segmenting consumers by life-style, attitudes, beliefs, values, personality, and buying motives. Cooptation: - An effort by one organization to win the support of the leaders of another organization by including them in advisory councils, boards of directors, and the like. This is common among firms that have complimentary products. It is also common to reduce conflict among channel members. Cooperative Campaign:-Collaboration of two or more advertisers and advertising in which the manufacturer of a product provides materials to and reimburses a retailer for part or all of the retailer's advertising expenditures. Demarketing: - A marketing task that requires finding ways to reduce the demand temporarily or permanently, because the demand level is higher than an organization can or wants to handle. Demarketing seeks discourage overall demand and consists of such steps as raising prices and reducing promotion and services. Some organization may choose to do selective demarketing by reducing the demand of the less profitable areas of the market. Direct Mail: - Advertising that uses person-to-person communication through the mail rather than mass media. Advertising is sent via fliers, letters, brochures or reprints. Direct Marketing:-An interactive marketing system that uses one or more advertising media to effect a measurable response and/or transaction at any location. Disintermediation:-The removal of intermediaries between manufacturers and consumers. Dumping:-A company either charges less than its costs or less than it charges in its home market in order to enter or win a market. The US Customs Bureau can levy a dumping tariff on the guilty company. EDLP: -Every Day Low Pricing. Eliminates coupons. FSI:-Free Standing Inserts. Example - coupons provided in the Sunday paper. These are expensive for the manufacturer and not as effective as first believed. Consumers have mostly been "trained" to use these coupons. Gross Rating Point (GRP):- Sum of all rating points over a specific time period or over the course of a media plan. Each rating point is equal to 1%. GRP is used in designing a media

schedule in an attempt to deliver a maximum number of GRPs at minimum cost. The GRPs are calculated by multiplying the total reach (unduplicated audience) by the frequency (average amount of exposure) of the medium in the proposed schedule. Growth Share Matrix: - A matrix developed and popularized by The Boston Consulting Group. It is divided into 4 cells, each indicating a different type of business: Question marks (high growth market, low relative market share), Stars (high growth market, high relative market share), Cash cows (low growth market, high relative market share), Dogs (low growth market, low relative market share). A company uses the matrix to determine whether its portfolio is healthy. An unbalanced portfolio has too many dogs or question marks and/or too few cast cows and stars. Harvesting: - Gradually reducing a product or business's costs while trying to maintain its sales. Interactive:-Advertising through various "new media" technology such as CD- ROM-based electronic kiosks, online services (including Internet, AOL). Latent Demand:-The demand by consumers for a strong need that cannot be satisfied by any existing product. The marketing task is to measure the size of the potential market and develop effective goods and services that would satisfy the demand. Line Extensions:-Adding another variation to a product line, also can include brand extension, when an established brand name is used in a new product category; for example - Jell-O pudding pops. Marketing Mix (4 P's):- The set of marketing tools that the firm uses to pursue its marketing objectives in the target market. The 4 P's are Product, Price, Place, and Promotion. Mass Customization:- The ability to prepare on a mass basis individually designed products and communications to meet each customer's requirements. Media Buying-Service:-A company other than an ad agency that purchases media time and space. Often referred to as unbundling, since the creative function is separate from the media portion. Niche:- A narrowly defined group, typically a small market whose needs are not being well served. A niche is usually identified by dividing a segment of the market into sub segments or by defining a group with a distinctive set of traits. Placement:-Marketing of a product by its appearance or use in a movie or television show. Point-of-Purchase:-Advertising that targets shoppers within the retail environment. Often aimed at impulse purchases. POP includes counter displays, window displays, store banners, aisle displays, etc. Positioning- Repositioning:-Promoting a product to an unexpected audience; makeover or restating of a product to attract a new audience. E.g. positioning orange juice as a soft drink to be used anytime, as opposed to a breakfast drink. Product Mix:-A set of all products and items that a particular seller offers for sale to buyers. Push vs. Pull Strategy:-Push strategy - involves manufacturer marketing activities (primarily sales force and trade promotions) directed at channel intermediaries. Pull strategy: - involves marketing activities (primarily advertising and consumer promotions) directed at the end users. Specialization:-When a manufacturer wants the brand to be number 1 or 2 in the market - not number 3! Anything but number 1 and 2 brands are often sold or discontinued; except for mature cash cows. The key is to focus.

Sales Promotion:-Activities, materials, and techniques used to supplement traditional advertising, includes trade advertising, and in-store media. Sampling:-Products offered to consumers usually for free to introduce a new product. Teaser Campaign:-Advertising intended to tease the public by offering only bits of information without revealing either the sponsor of the ad or the product being advertised. The purpose of a teaser ad is to arouse curiosity and generate attention for the campaign that follows. Transit Advertising:-Outdoor advertising. Advertising on signs that are located outdoors in public places. Examples include billboards, posters, buses, taxis and painted displays Umbrella Marketing:-Campaign that focuses on a family of brands, or a multi-product group. E.g. Panasonic ad showing VCR, TV, Video cam, etc.