What is a brand? A brand is a name, term, sign, 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.
Distinguishing between brand terminology Brand identity is the way a company aims to identify or position itself or its product or service; the visual or verbal expressions of a brand which leads to the psychological or emotional associations that the brand aspires to maintain in the minds of the consumer. Brand image is the way the public actually perceives this aim. A brand promise is the marketer’s vision and communication of what the brand will be and do for consumers.
The role of brands – for customers Signify quality level Facilitate purchasing Reduce risk
The role of brands – for firms Increase marketing efficiency Legal protection Serve as a competitive advantage Attract employees Create loyalty Help segment markets Secure price premium Elicit support from channel partners
What is brand equity? The added value that can be attributed to a brand (beyond the value of the product or service) Measurable • Firm level: financials based on market capitalization minus tangible assets, or projected profits • Product level: compare price of a no-name brand to a branded item • Consumer level: research on customer awareness, perceived uniqueness, positive association
Brand Personality Brandtoys.com
Brand elements Brand names URLs Slogans Logos Characters Symbols
What is co-branding? • Co-branding, also called dual branding or brand bundling, refers to the combining of twoor more well-known brands into a joint market offering or marketed together in some fashion. • Forms of co-branding include same-company, joint venture, multiple sponsor, and retailco-branding.
What is ingredient branding? Ingredient branding creates brand equity for materials, components or parts that are necessarily contained within other branded products.
GoreTex is an ingredient in many leading brands A straddle brand positioning can help convince customers that the market offering can accomplish two or more seemingly conflicting benefits, such as Gore-Tex’s promise to deliver both breathability and water protectionSource: David Young-Wolff/PhotoEdit
Brand naming strategies Individual names Blanket family names Separate family names Corporate name–individual name combo
Criteria for brand name selection Memorable Meaningful Likeability Transferable Adaptable Protectable The Snap, Crackle and Pop slogan has been translated into many European languagesSource: Courtesy of the Kellogg Group
Sources of names Acronym: A name made of initials such as UPS or IBM Descriptive: Names that describe a product benefit or function like Whole Foods or Airbus Alliteration and rhyme: Names that are fun to say and stick in the mind like Reese's Pieces or Dunkin' Donuts Evocative: Names that evoke a relevant vivid image like Amazon or Crest Neologisms: Completely made-up words like Wii or Kodak Foreign word: Adoption of a word from another language like Volvo or Samsung Founders' names: Using the names of real people like Hewlett-Packard or Disney Geography: Many brands are named for regions and landmarks like Cisco and Fuji Film Personification: Many brands take their names from myth like Nike or from the minds of ad execs likeBetty Crocker
Dyson’s hand dryer is a brand extension The Dyson hand dryer is a brand extension from the Dyson vacuum cleaner which in itself was a revolution in vacuumingSource: Courtesy of Dyson
How to use celebrity branding In the 1800s Pope Leo XIII and Emile Zola (pictured left) both endorsed a wine tonic. Celebrity endorsement is now a global phenomenonSource: The Advertising Archives Clear and popular image High perceived credibility Good match with target audience and brand
Issues arising from celebrity endorsements Celebrity endorsements of products and services is a major branding development. European stars who have become global brands are Germany’s Claudia Schiffer, Spain’s Penelope Cruz and from Wales, Catherine Zeta-Jones. Source: David Fisher/Rex Features (left); Most Wanted/Rex Features (centre); Carolyn Contino/BEV/Rex Features (right) • Multiple brand endorsers • Image considerations • Celebrities as brands
Brand roles in a brand portfolio Flankers CashCows Low-end Entry-level High-end Prestige