BRANDING
BY
SMART LEARNING WAY
CONTENTS
1)
Introduction
2)
Meaning
3)
Definition
4)
Branding types
5)
Branding process
6)
Branding challenges
7) Importance
8) Advantages
9) Disadvantages
10)
Conclusion
11) Bibliography
Introduction
- Almost every business has a trading name, from the smallest market trader to the largest multi-national corporation. Only a minority of those businesses however, have what could be classed as a ‘brand’ or a ‘brand name’.
- Branding is a word commonly referred to by advertisers and marketing people, but what does it actually mean, how can you get it, and most importantly; how will it benefit your business?
- Branding is the basis of every great marketing campaign. Your branding should stand out, be recognizable and it should be standard across all forms of advertising and communication. This is something that is often overlooked by most businesses, especially small business or new businesses just starting out.
- Branding is about creating an affinity between your product or service and the people that benefit from its use.
- The terms 'brand' and 'branding' can be integral to a business' success - but what exactly do they mean? Does your business have a brand, and does it need one?
- Branding gets right to the core of your business' values. It is about discovering and communicating the essence of your business and what it delivers to your customers. In effect, your brand creates your business' reputation and its 'personality'. A strong brand can make your business stand out from the crowd, particularly in competitive markets.
- What branding is, how it works and how you can use it to help improve your business. It shows you how to create a brand, how to budget for it and the different techniques of managing a brand. You will also find out what the key elements of branding are, how branding applies to different business sectors and the impact design can have on branding.
Meaning
1.) Branding is all
about trust. In general, that means that any prospective client will choose
your brand over a similar. How a company 'positions' a brand is not necessarily
how the consumer perceives that brand. Brands allow marketers to add meaning to
products and services, but it is consumers who ultimately determine what a
brand means. The sources of brand meaning are many and varied, as are the ways
in which meanings become attached to brands.
2.) Branding is a commonly used trade practice
by manufacturers of consumer and industrial goods. Branding means giving an
attractive name or symbol to the product by which it will be identified in the
market and remembered by traders and consumers. A brand means a name, term,
symbol, mark, design or picture put on the product itself. It is an
identification market stamp.
3.) It gives
independent status and identity to a product.
Definition
4) “Branding simply involves developing
and consistently communicating a group of positive characteristics that
consumers can identify with and relate to your name.”
5) According to Mud Valley: "Branding
is the creation, development and maintenance of a mutually-valuable
relationship with a strategically selected group of customers, through the
medium of a fresh and compelling elaborated proposition that is delivered
consistently over time by an artificial personality.”
6) Branding is the art of becoming
knowable, likable and trustable.
Types of branding
1.) Corporate
branding :
Making the
promise of quality products, service, and delivery to customers. The intent is
to attract new customers and create loyalty in past customers. Corporate
branding is nothing new; it’s been around as long as competition between
businesses has existed.
2.) Employer
branding :
Focusing on
employees to understand the vision, mission, goals, products, and services of
the company. It is designed to educate employees in order for them to uphold
the corporate brand to their customers.
3) Cause Branding :
Attempting to attract customers by associating
the company with a cause or purpose that potential customers would find
beneficial to their personal goals or in line with their values. This might be
a percentage contribution of company sales to charitable organizations or
donations to nature and wildlife preservation councils.
4)
Co-Branding :
Becoming more familiar to the consumer all the
time. These include, for example, mini-marts attached to gas stations,
banking facilities within grocery stores, and Laundromats attached to anything
from bowling alleys to
family entertainment centers. This branding falls in the “one-stop shopping” category.
family entertainment centers. This branding falls in the “one-stop shopping” category.
5) Spirit Branding :
Hit the
consumer market big time by selling soft drinks with the slogan of I’d like to
teach the world to sing . . . . It’s that “get a good feeling” from using our
product approach. The world looks brighter and things just go better when you
start your morning off with our product.
6) Community Branding –
Showing
the collective good a company can do for the community in which it and its
employees reside. This branding can include company and employee outreach
programs to help the needy, support theelderly, contribute to public education,
or provide emergency relief and jobs for the unemployed. It’s a promise to the
people in the community that this company will be a beneficial partner to them.
7)
Culture branding :
Another method of branding, branding to
employees may be something new to consider in waging war against sagging morale
and high employee turnover. Culture branding is making promises to employees
concerning their working environment and relationship to their leaders and
managers. In this case, “promises” are different from guarantees and
opportunities in that they are offered free of encumbrances other than taking
advantage of them through either purchase and use or employment agreement.
BRANDING PROCESS
1.) Clearly define the
target audience.
2.) Understand the target
customer.
3.) Understand the
competition.
4.) Design compelling brand
intent.
5.) Identify key leverage
points in customer experience.
6.) Execute the branding
strategy.
7.) Establish
feedback system.
BRANDING CHALLENGES
1].
Brand decision : To brand or
not to brand ?
2].
Brand sponsor decision.
3]. Brand
quality decision.
4]. Brand
name decision.
5] Brand
extension decision.
6]. Multi
Brand decision.
7]. Brand
repositioning decision.
8]. Branding strategies
Importance
“Successful
branding is a process that generates revenue that cannot be counted, it creates
a reputation that is felt not seen, it is an asset that one cannot show on a
balance sheet.”
1) Branding
creates favorable images of the product.
2) Favorable
branding facilitates sales promotion in specific segments or in the
whole market available for the
product.
3)
It helps the advertiser to face market competition and brand wars
effectively.
4)
Branding helps receiving of customer acceptance.
5) It
helps in creating consumer loyalty and winning their confidence.
6)
It increases popularity and prestige.
7)
Importance of Branding your Business:
From the point of
view of a business, the process of branding involves making of a trademark and
a good name. A registered trademark and a name ensures individuality and
uniqueness of a particular product or family of products. The primary advantage
of branding is that it is safeguarded from unlawful activities and at the same
time, it is also a way of developing a good reputation in the market.
8)
Importance of Branding in Marketing:
In
the field of marketing, the brand name plays an important role as it helps
the people to promote the brand name and its merits quite easily.
9) Importance of Branding in Advertising:
Advertising is
often considered to be a part of marketing however, branding a particular
product helps the advertisers to provide attractive logo and advertisements. As a brand name can
never be copied, advertisers face lesser heat from unauthenticated advertisements,
effectively, their advertisement creation gets protected.
Advantages of branding
1)
Wide market:
A manufacturer gets national market due to
branding as consumers support branded products extensively. He can even create
a special demand for his brand through sales promotion techniques.
2)
Effective publicity:
Branding and advertising go together. Branded
goods can be advertised effectively. This bring popularity to products and
raises sales. It is possible to create monopoly in the market for branded
goods. Consumers remember their favorite brands and purchase products on brand
names. Branding is also useful for making advertising campaign effective.
3)
Support from traders in marketing:
Traders
are interested in selling branded goods due to various advantages like regular
demand and quick sale. This enables a manufacturer to capture the market and
secure more profit.
4)
Control on marketing:
A manufacturer can maintain effective control
on the marketing of branded goods. This is possible as quality, price, etc.,
are fixed by the manufacturer himself and middlemen are not given any scope for unfair practices like
adulteration and price rise. Thus manufacturer gives protection to consumers in
the case of branded goods.
5)
Reputation to manufacturer:
A well promoted brand earns reputation in the
market and builds up a bright image of his organization around the brand. It
enables a manufacturer to make national advertisement and create popularity at
the national level.
6)
Product differentiation and independent status:
A
manufacturer can give independent status to his product through branding. A
brand suggest individual distinctive features of the product. Due to branding,
a manufacturer is in a position to isolate his product from those of others
(i.e., competitors) and then make it popular in the market.
Branding facilitates product differentiation it gives specific
identify to a product which makes the product different from other identical
products. For example, “Lux” as a brand/ trademark makes it different from
other soaps available in the market.
7)
Stability to sale:
branded goods provide stable sale over a long
period. This is due to loyalty and confidence of consumers in the case of
branded goods. Consumers always give support to branded goods.
8)
Introduction of new products:
A
manufacturer of a popular brand article can bring supplementary or even a new
product in the market easily, quickly and with confidence. this facilitates
easy extension of product line.
9.)
Limited dependence on middlemen
for marketing:
Branded goods require limited salesmanship at the retailer level.
These goods have support from consumers and naturally the manufacturer is not
at the mercy of middlemen for marketing.
Disadvantages
1)
Cost:
·
If you wish to create and maintain a strong
brand presence, it can involve a lot of design and marketing costs. A strong
brand is memorable, but people still need to be exposed to it, this often requires
a lot of advertising and PR over a long period of time, which can be very
costly.
·
There are also costs involved with the
creating of a brand image or logo (Paying for a designer, printing new
letterheads/business cards etc.), and although most of these are only one off
costs, they are still relatively large for most small businesses.
·
The exposure of your brand can be left to word
of mouth, this will save you money, but will also greatly slow down the
exposure your brand receives.
2)
Impersonal:
One of the main problems with many
branded businesses is that they lose their personal image. The ability to deal
on a personal basis with customers is one of the biggest advantages small
business have, and poorly designed branding could give customers the impression
that your business is losing its personal touch.
3) Fixed Image:
Every brand has a certain image to
potential customers, and part of that image is about what products or services
you sell. If you are known for selling just one product, and you want to sell
another product, will you be able to do so effectively? If you sell computers,
would your brand name be suitable for selling vacuum cleaners? If your brand is
focused too strongly on one product, it can limit your ability to sell other
products.
4)
Timescale:
The
process of creating a brand will usually take a long period of time. As well as
creating a brand and updating your signs and equipment (e.g. Stationary,
vehicles etc.), you need to expose it to your potential customers.
It is commonly shown that people need
to see an advert at least three times before they absorb it, which means you
will need to advertise and promote the brand for a considerable amount of time
before it will become well known.
Conclusion
Branding is a promise made to the
customer that will deliver values beyond expectation. Branding can be rational
or irrational. Customers buy brand not only for the intrinsic values associated
with it but also because the brand has surprised them in the past with newer
and more novel experiences. Effective branding promotes loyalty to your
business and your products and service.
Brand really is
about fact and emotion. It’s about what you deliver and the emotional
attributes associated with it. This emotional measure increases as the world
becomes more visual, more digital, and more connected. The ability of your
personal brand to suggest a strong, positive feeling is a key element of your
brand’s equity.
When creating a brand, you must be careful
not to lose the image of personal service. Every branding must show the correct
image that you want your customers to see.
Bibliography
1)
Introduction of Marketing
-
N.G. KALE
-
M. AHMED
- Vipul Prakashan
2) Marketing
Management
- Philip Kotler
Prentice Hall of India Pvt.
New Delhi
3) Marketing management
- Douglas j. dalrymple
- Leonard j. persons
By:- Jim Blythe
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