Brands and Branding

1
Brands and Branding

• a brand identifies and differentiates the
  products or services of a particular company
  its more than the name
• branding is the process of a company or product
  name acquiring meaning over time closely related
  to reputation and image
• a brand name is the words, letters or, numbers
  that can be vocalized
• a brand mark involves a symbol, logo, or design
  that identifies a brand

2
Who Owns the Brand?

• a trademark is the brand name and brand mark that
  are the legally-registered property of a specific
  company or organization
• many major brands are owned by large companies
  and are referred to as national brands or
  producer brands
• often large retailers have their own brands which
  are generally known as private labels
• some retailer brands become so popular that they
  achieve national brand status many consumers
  place as much trust in them as they do in
  national brands

3
Stages of Brand Development

• basic thinking suggests that a brand must acquire
  awareness and recognition
• then, it must be associated with certain brand
  characteristics or attributes
• then, may feel that a brand is able to take on a
  certain personality
• finally, many now suggest that consumers develop
  lasting relationships with brands

4
Brand Equity

• the value that a brand adds to a product is known
  as brand equity
• equity increases as a growing number of consumers
  develop loyalty to the brand
• a well-known brand can create a differential
  advantage for the brands owner
• it will create a barrier to other firms wishing
  to enter the market with competing products
• it can help a product survive market changes

5
Brand Success

• many national and international brands, such as
  Hallmark, Sony, and McCain, have dominated their
  product categories for many years
• for many companies, their brands are among their
  most valuable assets
• companies launch brand extensions to trade on the
  equity in established brands and to reduce the
  risk of new product introductions
• think about how far a brand can be extended

6
The Role of the Brand

• brands may be applied to companies and other
  entities as well as to their products or
  services thus, Roots is a brand, as is Avril
  Lavigne
• brands are important in promoting products and in
  giving customers confidence in quality
• companies have to support their brands
• it is difficult to brand services successfully
  because of their intangibility

7
To Brand or Not to Brand?

• some companies will not brand their products if
  they dont wish to promote them or if their
  quality is not consistent or high
• products that are not easily differentiated, such
  as industrial raw materials, are often not
  branded
• a brand offers the consumer protection as it
  names the owner of the brand and allows their
  products and services to be identified

8
Characteristics of a Good Brand

• says something about the products
  characteristics
• is easy to pronounce, spell, and remember
• is distinctive - not always the case!
• is adaptable when new products are added to the
  companys product line
• is capable of registration under the Trade Marks
  Act and other laws
• some brands are lost because of generic use

9
Branding Strategies

• manufacturers may brand under their own labels,
  under private labels, or as parts and materials
  for other manufactured products
• intermediaries may carry producers brands only,
  private brands only, or a combination
• several possible approaches to product line
  branding family branding, separate name for each
  product, brands for groups of products, or family
  brand combined with a product name

10
Branding of Services

• many consider the branding of services to be more
  difficult because of intangibility
• but, the principles of good branding apply
• brand names should be relevant to the service
  being provided or to its benefits
• should be easy to pronounce and remember
• should be adaptable to other situations

11
Packaging

• packaging has functional and promotional value
  often represents a major part of a marketing
  program
• bundling
• influenced by external forces
• moving toward recycling
• often criticized and is subject to regulation in
  Canada
• strategic use of packaging can be effective

12
Labeling

• the function of the label is to communicate both
  image and functional information
• many types of labeling
• brand
• grade
• descriptive
• much labeling legislation in Canada
• eco-labeling

13
Other Strategic Product Features

• design and colour
• quality
• warranties
• post-purchase service