Dimension of a Brand

Dimension of a Brand

BRAND DRIVERS: • Maruti / SujukiPassenger cars- Better technology (Compared Primitive ones like Ambassador and Premier)- Reasonable price, Functionality • LuxToiletries- Skin friendly (though it is not)- Aroma- Market Share- Glamour/Status • AmulFood products- Freshness- Purity- Availability- Emotional: National Pride, Cooperative pioneer • VIPHosiery- Fabric quality, Durability- Pioneer in India, Availability • NirmaToiletries- Reasonable price- Charisma (Achiever) • RelianceTextile, IT products- Charisma (Achiever)

Brand • What is a brand? • Brands were originally developed as labels of ownership: name, term, design, and symbol • In functionality and contextually they are proprietary visual, emotional, rational, and cultural image that you associate with a company or a product. • When you think Volvo, you might think safety. When you think Nike, you might think of an advertising campaign prompting "Just Do It." When you think IBM, you might think "Big Blue." Or "Yeh Dil Mange More" of Pepsi. The fact that you remember the brand name and have positive associations with that brand makes your product selection easier and enhances the value and satisfaction you get from the product.

Brand Management • This art of creating and maintaining a brand is called brand management. Brand management is a philosophy and a total approach to managing companies, and as such includes much about changing minds. Brand management starts with understanding what 'brand' really means. This starts with the leaders of the company who define the brand and control its management. It also reaches all the way down the company and especially to the people who interface with customers or who create the products that customers use. Brand management performed to its full extent means starting and ending the management of the whole company through the brand. It is a comprehensive effort and requires commitment, support and contribution from everybody in the company.

Brand Elements • Brand elements are the components or constituents of brand that are designed and put together to strengthen brand's image. Any brand will consists of following elements: • Brand name and logo • Symbol and character • Packaging • Slogan • There are five criteria to judge whether these are good brand elements: • The recall value of Brand name should be high. It should be simple, easy to pronounce and easy to understand. It should create a connection between the need of the consumer and the product. The brand name should also connote what does product stands for. • The symbol and character being used as brand elements should also get well with product features and characteristics and they should be in good term to identify the product with. • In addition, the transferability of brand elements should be high. It should provide company with a viable option to create brand extension or brand line expansion or it should generate sufficient recognition for the company. • The logo, symbol, packaging, slogan all should be catchy and flexible over time. They should not look time beaten neither they should be changed frequently. There should be some consistency and they should be used for several years before they are changed. They should represent what the company, the brand stands for, and they should communicate a unified message that depicts or supports the brand image. The elements should have adaptability and should be able to change as per demand of time and consumers. • Brand name, logo, symbols, packaging indentations etc. all should be protected, use of registered trademark. Intellectual property protection is the fifth criteria

Brand • But a brand is an even more complex symbol. It can convey up to six level of meaning: • 1. Attributes: A brand to mind certain attributes. Mercedes suggests expensive, well-built, well-engineered, durable, high-prestige automobiles.2. Benefits: Attributes must be translated into functional and emotional benefits. The attribute "durable" could translate into the functional benefits "I won't have to buy another car for several years." The attribute "expensive" translates into the emotional benefits "The car makes me feel important and admired."3. Values: The brand also says something about the producer's values. Mercedes stands for high performance, safety, and prestige.4. Culture: The brand may represent a certain culture. The Mercedes may represent German culture: organized, efficient, high quality.5. Personality: The brand can project a certain personality.6. User: The brand suggests the kind of consumer who buys or uses the product. We would expect to.

Brand identity • Brand identity includes brand names, logos, positioning, brand associations, and brand personality. A good brand name gives a good first impression and evokes positive associations with the brand. • Brand personality adds emotion, culture and myth to the brand identity by the use of a famous spokesperson (Sharukh Khan – Hyundai Santro), a character (the Nirma Girl or Amul Girl), an animal (the Merrill Lynch bull) or an image (Hum Hai Na - ICICI).

Brand equity • The brand can add significant value when it is well recognized and has positive associations in the mind of the consumer. This concept is referred to as brand equity

Brand equity • Strong brand equity provides the following benefits: • Facilitates a more predictable income stream (higher profitability). • Increases cash flow by increasing market share, reducing promotional costs, and allowing premium pricing. • Brand equity is an asset that can be sold or leased.

perspectives • There are at least three perspectives from which to view brand equity: • Financial - One way to measure brand equity is to determine the price premium that a brand commands over a generic product. For example, if consumers are willing to pay Rs. 100 more for a branded product over the unbranded product, this premium provides important information about the value of the brand. However, expenses such as promotional costs must be taken into account when using this method to measure brand equity. • Brand extensions - A successful brand can be used as a platform to launch related products. The benefits of brand extensions are the leveraging of existing brand awareness thus reducing advertising expenditures, and a lower risk from the perspective of the consumer. Furthermore, appropriate brand extensions can enhance the core brand. • Consumer-base - A strong brand increases the consumer's attitude strength toward the product associated with the brand. Attitude strength is built by experience with a product. The consumer's awareness and associations lead to perceived quality, inferred attributes, and eventually, brand loyalty.

Brand Attributes • Brand AttributesBrand attributes are functional or emotional associations that are assigned to a brand by its customers and prospects. Brand attributes can be either negative or positive and can have varying degrees of relevance and importance to different customer segments. • Examples of Brand Attributes: • Influential • Innovative • Inclusive • Relevant • Connecting • Leadership • Humane

*Branding/Manageable Elements Of The Brand • Consumers are human beings. They know brands, express about brands think brands, feel brands, compare brands, choose brands, recommend brands, reject brands, buy brands, and do buy brands through a combination of : • o Brand nameo Brand associationso Brand attitudeo Brand lookso Brand personality, • All these are not just a matter of semantics. These are specific manageable concepts, born and brought up on the minds and hearts of the consumers, linked to each other in more ways than one. These, if 'added' to a product, lead to creation of brand. • : • * Brand Relationship is the ultimate achievement need of branding. • * Brand Attitude defines what the brand thinks about the consumer, as per the consumer. A brand may have 'attitude' on one or more aspects.* Brand Image includes two aspects of a brand its associations and its personality. A brand may have image on one more aspects.* Brand Associations includes all the linked up in memory about the brand. It could be specific to attributes, features, benefits or looks of the brand. A brand may have a range of associations. But the one association that stands out in memory and differentiates it becomes the 'positions' of the brand. A brand may have one or more associations but no 'positions'. .

* Brand Looks, which have a role to play in forming/reinforcing brand associations are facilitated by two key properties of a brand its name and its symbol. While brand name is a necessary condition for existence of brand relationship, the same is not true for brand symbol. However, if the latter exists it helps the process of brand relationship and reinforces it.* Brand symbol includes two visual signals of a brand its character (e.g. Amul girl. Pillsbury doughboy) and its logo.* 'necessary' aspects for brand relationship to exist are: o brand name,o brand associations, ando brand attitude * 'Highly desirable' aspects for brand relationship to exist are o brand position, ando Brand symbol. *Conclusion The above mentioned elements of the Brand are manageable. A firm has to adapt all the elements with its target segment and with proposed positioning of the Brand. As we discussed earlier that today is the era of branding. So, it's very obvious that Brand management at global level becomes very crucial and important. At global level starting from Brand name to Brand Relationship all the elements should be adopted with the culture and environment of the concerned country

Why A Brand • Strong brands are important to both marketers and customers. These are wanted by marketers, as they: Provide relatively higher return on sales. Have higher loyalty than their weaker competitors.Provide opportunities for brands extension.Can bounce back after a mistake. Recover fast from aggressive price promotion by its competitors.Have longer life.Are important to customers.Create entry barriers for others into the category.Facilitate entry into related categories to which the brand can be extended.Can command a price premium.

Why A Brand • They are important to customers as they:Are seen to be performing through it or with its help.Find it easy to choose. Use it to define/project themselves. Have a perceived consistent quality about it which acts as a benchmark for brand consideration/choice.

To Build A Strong Brand • o Develop a product based on customer need,o Develop an attractive packing,o Decide on a brand name,o Design likeable and relevant advertising,o Arrive at an appropriate price,o Run consumers offer,o Implement efficient sales and distribution plan,o Keep tab on competition,o Contact market research to ascertain effectiveness of marketing initiatives,o Market segmentation,o Undertake billed brand position,o Redress customer's complaints tactfully, etc.

Names • Types of names: • Functional Names: The lowest common denominator of names, usually either named after a person, purely descriptive of what the company or product does, or a pre- or suffixed reference to functionality. (Dhara, Godrej, Bajaj) • Invented Names: "Invented" as in a made-up name (AIRTEL, GOOGLE, WIPRO) or a non-English name that is not widely known. • Experiential Names: A direct connection to something real, a part of direct human experience. Usually literal in nature, but presented with a touch of imagination. (Netscape, Microsoft) • Evocative Names: These names are designed to evoke the positioning of a company or product rather than the goods and services or the experience of those goods and services. Removed from direct experience, but relevant – evoking memories, stories, and many levels of association. (Tanishq, NIRMA)

Logos • * Unique but easy to recoginize* Worth remembering and represent ideas etc.* Look simple and yet capture wider meaning.* relevant and in tune with the time. • Nike represents action, Swoosh symbol represents it. • Britania little hearts uses 'heart logo' symbolizing love and affection. • Slogans / Punchlines • They also reflect Brand personality. • Peter England - Honest Shirt (sincerity) LIC - Try – Thy name is LIC (Trust) L & T switch gear - Safe & Sure (Trust)Bajaj - Inspiring confidence (Competence) Videocon - The Indian Multinational (Competence) Vantlensen - Power Evolved (Sophistication- upper class) Bank of Rajasthan - Dare to Dream (Excitement)The New India Assurance Co. Ltd. - Assurance of the leader (Competence)Mahindra Scropio - Nothing else will do – (Ruggedness)Bank of India - Bank that cares (empathy) Nike - Just do it (Motivation, excitement)

Slogans • Slogans enhance brand recall and have strong linkage with brand's essence / key values. Logos support brand names, provide ease in processing visual information lead to brand recall. Logo can be textual, abstract design and may be real. • They convey a clear meaning or suggest something about product category / brand / values / features / benefits of the brand.

The brand environment

A NEW MODEL TO SUSTAIN ANY BRAND

"CEM is about understanding the lifestyle of customers. It's about broadening your marketing view from the product to the consumption situation • Brand expression is a result of brand strategy and it is a promise to consumers, providing them with expectations that need to be met. Brand expression consists of three elements* Brand positioning* Brand identity* Brand personality

Role of advertising in creating Brand Personality • Brand personality, is process of transforming the brand into a person or humanizing the brand. Thus brands can also have characteristics (Ex: Sex, Gender, skills & abilities etc). Marketers deliver the personality using advertising, features, packaging etc.

Brand personality • Brand personality should not be confused with target audience characteristics. Personality may be existing or aspirational. Projective techniques can be used to describe brands. Consumers can be asked to associate the brand, with adjectives (word association, sentence completion etc.) and also can be asked about user imagery

For example:Brands : Personality Moods : Sensitivity Thumbs up : bravery / daring Amul : humour MTV : wacky Indiakings : Sophistication (upper class) Woodlands : Ruggedness & outdoorsy Mahindra Scorpio : RuggednessMarlboro : Ruggedness Ruff & Tuff : Bravery Sona chandi Chavanpra : BraveryBritania little hearts : Love & AffectionBrand : Adjective Liril : Freshness & Lime Lux : Beauty,softness Dove : Softness Bisleri : Safety Bajaj Pulsar : PowerYamaha : Power Titan : Style, elegance Cinthol : Freshness Mysore Sandal : TraditionalMedimix : Traditional

Endorser • The selection of an endorser is critical, as the personality of the endorser can get transferred to the brand. Hathway shirts has acquired strong image owing to presence of sophisticated and mysterious endorser. Marlboro cowboy gave macho image to the brand. Endorser may be real or fictional. Using celebrities as brand endorser has advantages & disadvantages. celebrity enjoys instant recognition & goodwill that can be transferred to the brand.

Endorser • Sachin, Shahrukh Khan and Big 'B' endorse number of brands. Choosing the right celebrity & levering their qualities is important, otherwise celebrity endorsement may end up as futile exercise also involving wastage of money. • Sachin stands for style, power play, technique and excellence or performance. • Sharukh Khan represents energy & entertainment and style. They cut across all demographic groups and have mass appeal.

For 'Boost' Health beverage brand fit with Sachin is excellent. • King Khan is also played role in the success of 'Santro small car'

Endorser - AttributesAmitabh Bacchan - resilent, professional, charismatic unassumingSharukh Khan - Youth Icon. Stylish, successfulSachin - (Excellence, determination faith hardwork)Rahul Dravid - Mr. Dependable ,( Reliable, composure Consistency)Virender Sehawag - SwashbucklingM.S. Dhoni - Sheer power playRani Mukherji - Youthful, enthusiastic

Co brand • Introduction • A co branded extension is a composite brand concept that contains the characteristics of two underlying concepts (Cohen and Murphy 1984; Park, Jun, and Shocker 1996). Each of the two participating concepts is associated with a set of attributes that are combined according to a set of rules to form the composite concept. In other words, a co branded extension does not involve the transfer of the entire brand concept from a parent category to an extension category. Rather, it merely involves the transfer of a subset of attributes from the two parent brands, and their recombination into a coherent composite concept that could become a member of the extension category to which new brand belongs.

Need for a strategic fit

Benefits of Co branding • According to an article written by Juliette Boone about co-branding, at least five reasons exist for forming an alliance: 1. to create financial benefits; 2. to provide customers with greater value; 3. to improve on a property's overall image; 4. to strengthen an operation's competitive position; and 5. to create operational advantages.

Dimension of a Brand