AJK CAS- BRAND MANAGEMENT

AJK COLLEGE OF ARTS & SCIENCE STUDY MATERIAL COERSE : III B.COM.IT SEMESTER : V SUBJECT : BRAND MANAGEMENT UNIT : I STAFF : Mrs. M.Priya **************************************************************************** Unit 1: Introduction-basic understanding of brand-concepts n process-significance of a brandbrand mark n trade mark-different types of a brand-family brand-individual brand-private brandselecting a brand name-functions of brand-branding decisions - influencing factors. **************************************************************************** The word "brand" is derived from the Old Norse brander meaning "to burn." It refers to the practice of producers burning their mark (or brand) onto their products. The Italians were among the first to use brands, in the form of watermarks on paper in the 1200s. Bass & Company, the British brewery, claims their red triangle brand was the world's first trademark. Lyles Golden Syrup makes a similar claim, having been named as Britain's oldest brand, with its green and gold packaging having remained almost unchanged since 1885. Another example comes from Antiche Fornaci Giorgi in Italy, whose bricks are stamped or carved with the same proto-logo since 1731, as found in Saint Peter's Basilica in Vatican City. Cattle were branded long before this. The term "maverick," originally meaning an unbranded calf, comes from Texas rancher Samuel Augustus Maverick whose neglected cattle often got loose and were rounded up by his neighbors. The word spread among cowboys and came to be applied to unbranded calves found out wandering alone .Even the signatures on paintings of famous artists like Leonardo Da Vinci can be viewed as an early branding tool. Factories established during the Industrial Revolution introduced mass-produced goods and needed to sell their products to a wider market, to customers previously familiar only with locallyproduced goods. It quickly became apparent that a generic package of soap had difficulty competing with familiar, local products. The packaged goods manufacturers needed to convince the market that the public could place just as much trust in the non-local product. Campbell soup, Coca-Cola, Juicy Fruit gum, Aunt Jemima, and Quaker Oats were among the first products to be 'branded', in an effort to increase the consumer's familiarity with their products. Many brands of that era, such as Uncle Ben's rice and Kellogg's breakfast cereal furnish illustrations of the problem. Around 1900, James Walter Thompson published a house ad explaining trademark advertising. This was an early commercial explanation of what we now know as branding. Companies soon adopted slogans, mascots, and jingles that began to appear on radio and early television. By the 1940s, manufacturers began to recognize the way in which consumers were developing relationships with their brands in a social/psychological/anthropological sense.

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From there, manufacturers quickly learned to build their brand's identity and personality (see brand identity and brand personality), such as youthfulness, fun or luxury. This began the practice we now know as "branding" today, where the consumers buy "the brand" instead of the product. This trend continued to the 1980s, and is now quantified in concepts such as brand value and brand equity. Naomi Klein has described this development as "brand equity mania".[10] In 1988, for example, Philip Morris purchased Kraft for six times what the company was worth on paper; it was felt that what they really purchased was its brand name. Marlboro Friday: April 2, 1993 - marked by some as the death of the brand[10] - the day Philip Morris declared that they were cutting the price of Marlboro cigarettes by 20% in order to compete with bargain cigarettes. Marlboro cigarettes were noted at the time for their heavy advertising campaigns and well-nuanced brand image. In response to the announcement Wall street stocks nose-dived[10] for a large number of branded companies: Heinz, Coca Cola, Quaker Oats, PepsiCo. Many thought the event signalled the beginning of a trend towards "brand blindness" (Klein 13), questioning the power of "brand value." Concepts Proper branding can result in higher sales of not only one product, but on other products associated with that brand. For example, if a customer loves Pillsbury biscuits and trust the brand, he or she is more likely to try other products offered by the company such as chocolate chip cookies. Brand is the personality that identifies a product, service or company (name, term, sign, symbol, or design, or combination of them) and how it relates to key constituencies: customers, staff, partners, investors etc. Some people distinguish the psychological aspect, brand associations like thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand, of a brand from the experiential aspect. The experiential aspect consists of the sum of all points of contact with the brand and is known as the brand experience. The brand experience is a brand's action perceived by a person. The psychological aspect, sometimes referred to as the brand image, is a symbolic construct created within the minds of people, consisting of all the information and expectations associated with a product, service or the company(ies) providing them. People engaged in branding seek to develop or align the expectations behind the brand experience, creating the impression that a brand associated with a product or service has certain qualities or characteristics that make it special or unique. A brand is therefore one of the most valuable elements in an advertising theme, as it demonstrates what the brand owner is able to offer in the marketplace. The art of creating and maintaining a brand is called brand management. Orientation of the whole organization towards its brand is called brand orientation. The brand orientation is developed in responsiveness to market intelligence.

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Careful brand management seeks to make the product or services relevant to the target audience. Brands should be seen as more than the difference between the actual cost of a product and its selling price - they represent the sum of all valuable qualities of a product to the consumer. A brand which is widely known in the marketplace acquires brand recognition. When brand recognition builds up to a point where a brand enjoys a critical mass of positive sentiment in the marketplace, it is said to have achieved brand franchise. Brand recognition is most successful when people can state a brand without being explicitly exposed to the company's name, but rather through visual signifiers like logos, slogans, and colors.[11] For example, Disney has been successful at branding with their particular script font (originally created for Walt Disney's "signature" logo), which it used in the logo for go.com. Consumers may look on branding as an aspect of products or services, as it often serves to denote a certain attractive quality or characteristic (see also brand promise). From the perspective of brand owners, branded products or services also command higher prices. Where two products resemble each other, but one of the products has no associated branding (such as a generic, store-branded product), people may often select the more expensive branded product on the basis of the quality of the brand or the reputation of the brand owner. Brand name is one of the brand elements which helps the customers to identify and differentiate one product from another. It should be chosen very carefully as it captures the key theme of a product in an efficient and economical manner. It can easily be noticed and its meaning can be stored and triggered in the memory instantly. Choice of a brand name requires a lot of research. Brand names are not necessarily associated with the product. For instance, brand names can be based on places (Air India, British Airways), animals or birds (Dove soap, Puma), people (Louise Phillips, Allen Solly). In some instances, the company name is used for all products (General Electric, LG). Features of a Good Brand Name A good brand name should have following characteristics: 1. It should be unique / distinctive (for instance- Kodak, Mustang) 2. It should be extendable. 3. It should be easy to pronounce, identified and memorized. (For instance-Tide) 4. It should give an idea about products qualities and benefits (For instance- Swift, Quick fix, Lipguard). 5. It should be easily convertible into foreign languages. 6. It should be capable of legal protection and registration. 7. It should suggest product/service category (For instance Newsweek). 8. It should indicate concrete qualities (For instance Firebird). 9. It should not portray bad/wrong meanings in other categories. (For instance NOVA is a poor name for a car to be sold in Spanish country, because in Spanish it means doesnt go).

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Brand awareness Brand awareness refers to customers' ability to recall and recognize the brand under different conditions and link to the brand name, logo, jingles and so on to certain associations in memory. It consists of both brand recognition and brand recall. It helps the customers to understand to which product or service category the particular brand belongs and what products and services are sold under the brand name. It also ensures that customers know which of their needs are satisfied by the brand through its products (Keller). Brand awareness is of critical importance since customers will not consider your brand if they are not aware of it.[12] There are various levels of brand awareness that require different levels and combinations of brand recognition and recall. Top-of-Mind is the goal of most companies. 1. Top-of-Mind Awareness occurs when your brand is what pops into a consumers mind when asked to name brands in a product category. For example, when someone is asked to name a type of facial tissue, the common answer is Kleenex, which is a top-of-mind brand. 2. Aided Awareness occurs when a consumer is shown or reads a list of brands, and expresses familiarity with your brand only after they hear or see it as a type of memory aide. 3. Strategic Awareness occurs when your brand is not only top-of-mind to consumers, but also has distinctive qualities that stick out to consumers as making it better than the other brands in your market. The distinctions that set your product apart from the competition is also known as the Unique Selling Point or USP. Brand elements Brands typically are made up of various elements

Name: The word or words used to identify a company, product, service, or concept. Logo: The visual trademark that identifies the brand. Tagline or Catchphrase: "The Quicker Picker Upper" is associated with Bounty paper towels. "Can you hear me now" is an important part of the Verizon brand. Graphics: The dynamic ribbon is a trademarked part of Coca-Cola's brand. Shapes: The distinctive shapes of the Coca-Cola bottle and of the Volkswagen Beetle are trademarked elements of those brands. Colors: Owens-Corning is the only brand of fiberglass insulation that can be pink. Sounds: A unique tune or set of notes can denote a brand. NBC's chimes are a famous example. Scents: The rose-jasmine-musk scent of Chanel No. 5 is trademarked. Tastes: Kentucky Fried Chicken has trademarked its special recipe of eleven herbs and spices for fried chicken. Movements: Lamborghini has trademarked the upward motion of its car doors.

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Global brand A global brand is one which is perceived to reflect the same set of values around the world. Global brands transcend their origins and create strong enduring relationships with consumers across countries and cultures. They are brands sold in international markets. Examples of global brands include Facebook, Apple, Pepsi, McDonald's, Mastercard, Gap, Sony and Nike. These brands are used to sell the same product across multiple markets and could be considered successful to the extent that the associated products are easily recognizable by the diverse set of consumers. Benefits / significance of global branding In addition to taking advantage of the outstanding growth opportunities, the following drives the increasing interest in taking brands global:

Economies of scale (production and distribution) Lower marketing costs Laying the groundwork for future extensions worldwide Maintaining consistent brand imagery Quicker identification, recognition and integration of innovations (discovered worldwide) Preempting international competitors from entering domestic markets or locking you out of other geographic markets Increasing international media reach (especially with the explosion of the Internet) is an enabler Increases in international business and tourism are also enablers Possibility to charge premium prices Internal company benefits such as attracting and retaining good employees, and cohesive company culture

Global brand variables The following elements may differ from country to country:

Corporate slogan Products and services Product names Product features Positioning Marketing mixes (including pricing, distribution, media and advertising execution)

These differences will depend upon:

Language differences Different styles of communication Other cultural differences Differences in category and brand development Different consumption patterns

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Different competitive sets and marketplace conditions Different legal and regulatory environments Different national approaches to marketing (media, pricing, distribution, etc.)

Brand name

Relationship between trademarks and brand The brand name is quite often used interchangeably with "brand", although it is more correctly used to specifically denote written or spoken linguistic elements of any product. In this context a "brand name" constitutes a type of trademark, if the brand name exclusively identifies the brand owner as the commercial source of products or services. A brand owner may seek to protect proprietary rights in relation to a brand name through trademark registration and such trademarks are called "Registered Trademarks". Advertising spokespersons have also become part of some brands, for example: Mr. Whipple of Charmin toilet tissue and Tony the Tiger of Kellogg's Frosted Flakes. Types of brands 1. Family Brand 2. Individual Brand 3. Private Brand Family Brand: Often, especially in the industrial sector, it is just the company's name which is promoted (leading to one of the most powerful statements of branding: saying just before the company's downgrading,

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"No one ever got fired for buying IBM"). This approach has not worked as well for General Motors, which recently overhauled how its corporate brand relates to the product brands.[22] Exactly how the company name relates to product and services names is known as brand architecture. Decisions about company names and product names and their relationship depend on more than a dozen strategic considerations. In this case a strong brand name (or company name) is made the vehicle for a range of products (for example, Mercedes-Benz or Black & Decker) or a range of subsidiary brands (such as Cadbury Dairy Milk, Cadbury Flake or Cadbury Fingers in the United States). A company might engage in the production of various types of products and services, but they name all their products and services with the same brand name. Hence all the products are produced under a single family name, it is called as Family Brand. Examples: Preethi shares same family name for mixie, induction stoves, rice cookers, etc Dove shares same family name for soaps, shampoos, conditioners, etc

Individual Brand: Each brand has a separate name (such as Seven-Up, Kool-Aid or Nivea Sun (Beiersdorf)), which may compete against other brands from the same company (for example, Persil, Omo, Surf and Lynx are all owned by Unilever). A company might engage in the production of various types of products and services, and they name all their products and services with the different brand names individually. Or A company may produce a single product and name a brand. Since, every single product is given with an individual brand name, it is called as Individual Brand. Examples: HUL (HLL) Company is involved in the production of various types of products, but names each and every product with different brand name. A niche in the local area.

Private Brand: Private brands are named for products which a available with a single seller. A customer can that particular brand with a single marketer. These brands will not available at the retail outlets of other marketers. Examples: Big Bazaar sells sugar, rice, atta, etc products with a brand called Big Bazaar, these brands will not be available with other marketers.

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Kannan Departmental Store sells sugar, rice, atta, etc products with a brand called Kannan, these brands will not be available with other marketers.

Crowd sourcing branding These are brands that are created by the people for the business, which is opposite to the traditional method where the business create a brand. This type of method minimizes the risk of brand failure, since the people that might reject the brand in the traditional method are the ones who are participating in the branding process. Nation branding (place branding and public diplomacy) Nation branding is a field of theory and practice which aims to measure, build and manage the reputation of countries (closely related to place branding). Some approaches applied, such as an increasing importance on the symbolic value of products, have led countries to emphasise their distinctive characteristics. The branding and image of a nation-state "and the successful transference of this image to its exports - is just as important as what they actually produce and sell." Process of Selecting a Brand Name: 1. Define the objectives of branding: In terms of six criterions, viz., descriptive, suggestive, compound, classical, arbitrary and fanciful the objective of the branding should be defined. It is essential to recognize the role of brand within the corporate branding strategy and the relation of brand to other brand and products. It is also essential to understand the role of brand within entire marketing program as well as a detailed description of niche market must be considered. 2. Generation of multiple names Any potential source of names can be used; organization, management and employees, current or potential customers, agencies and professional consultants.

3. Screening of names: On the basis of branding objectives and marketing considerations so as to have a more synchronized list - The brand names must not have connotations, should be easily pronounceable, should meet the legal requirements etc.

4. Gathering more extensive details on each of the finalized names

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There should be extensive international legal search done. These searches are at times done on a sequential basis because of the expense involved. 5. Conducting consumer research Consumer research is often conducted so as to confirm management expectations as to the remembrance and meaningfulness of the brand names. The features of the product, its price and promotion may be shown to the consumers so that they understand the purpose of the brand name and the manner in which it will be used. Consumers can be shown actual 3-D packages as well as animated advertising or boards. Several samples of consumers must be surveyed depending on the niche market involved.
6. Finalizing a Brand Name:

On the basis of the above steps, management can finalize the brand name that maximizes the organizations branding and marketing objectives and then formally register the brand name. Functions of a Brand: 1. "Necessary conditions" - The performance of the product must at least be acceptable, preferably with a reputation of having good quality. 2. "Myth-making" - A meaningful storytelling fabricated by cultural insiders. These must be seen as legitimate and respected by consumers for stories to be accepted. 3. "Cultural contradictions" - Some kind of mismatch between prevailing ideology and emergent undercurrents in society. In other words a difference with the way consumers are and how they wish they were. 4. "The cultural brand management process" - Actively engaging in the myth-making process in making sure the brand maintains its position as an icon. Branding Decisions: Branding decision means providing reasons why a particular product is named unique. A unique brand name is important for the following reasons:
1. Unique Identity, which differentiates the brand from other companies products.

2. Attractiveness of the brand name, so that customers will tend to buy the product. 3. Explains about the products special feature (ex. Mysore Sandal Soap explains that the soap is made up of sandal. 4. Adding value (ex. Prestige) to the product. Influencing factors in the branding decisions: Brand names come in many styles. Initialism: A name made of initials such as UPS or IBM Descriptive: Names that describe a product benefit or function like Whole Foods or Airbus

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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,and founder's name like Hewlett-Packard, Dell 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 like Betty Crocker.

AJK COLLEGE OF ARTS & SCIENCE STUDY MATERIAL

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AJK CAS- BRAND MANAGEMENT

COERSE : III B.COM.IT SEMESTER : V SUBJECT : BRAND MANAGEMENT UNIT : II STAFF : Mrs. M.Priya **************************************************************************** Unit2: Brand Associations-Brand vision-brand ambassadors-brand as a personality, as a trading asset-brand extension-brand positioning-brand image building. **************************************************************************** Brand Associations Brand Associations are not benefits, but are images and symbols associated with a brand or a brand benefit. For example- The Nike Swoosh, Nokia sound, Film Stars as with Lux, signature tune Ting-ting-ta-ding with Britannia, Blue colour with Pepsi, etc. Associations are not reasons-tobuy but provide acquaintance and differentiation thats not replicable. It is relating perceived qualities of a brand to a known entity. For instance- Hyatt Hotel is associated with luxury and comfort; BMW is associated with sophistication, fun driving, and superior engineering. Most popular brand associations are with the owners of brand, such as - Bill Gates and Microsoft, Reliance and Dhirubhai Ambani. Brand association is anything which is deep seated in customers mind about the brand. Brand should be associated with something positive so that the customers relate your brand to being positive. Brand associations are the attributes of brand which come into consumers mind when the brand is talked about. It is related with the implicit and explicit meanings which a consumer relates/associates with a specific brand name. Brand association can also be defined as the degree to which a specific product/service is recognized within its
product/service class/category. While choosing a brand name, it is essential that the name chosen should reinforce an important attribute or benefit association that forms its product positioning. For instance - Power book.

Brand associations are formed on the following basis:

Customers contact with the organization and its employees; Advertisements; Word of mouth publicity; Price at which the brand is sold; Celebrity/big entity association; Quality of the product; Products and schemes offered by competitors; Product class/category to which the brand belongs; POP ( Point of purchase) displays; etc

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Positive brand associations are developed if the product which the brand depicts is durable, marketable and desirable. The customers must be persuaded that the brand possess the features and attributes satisfying their needs. This will lead to customers having a positive impression about the product. Positive brand association helps an organization to gain goodwill, and obstructs the competitors entry into the market. Brand identity stems from an organization, i.e., an organization is responsible for creating a distinguished product with unique characteristics. It is how an organization seeks to identify itself. It represents how an organization wants to be perceived in the market. An organization communicates its identity to the consumers through its branding and marketing strategies. A brand is unique due to its identity. Brand identity includes following elements - Brand vision, brand culture, positioning, personality, relationships, and presentations. Brand identity is a bundle of mental and functional associations with the brand. Associations are not reasons-to-buy but provide familiarity and differentiation thats not replicable getting it. These associations can include signature tune(for example - Britannia ting-ting-ta-ding), trademark colours (for example - Blue colour with Pepsi), logo (for example - Nike), tagline (for example Apples tagline is Think different),etc. 1. Brand identity is the total proposal/promise that an organization makes to consumers. The brand can be perceived as a product, a personality, a set of values, and a position it occupies in consumers minds. Brand identity is all that an organization wants the brand to be considered as. It is a feature linked with a specific company, product, service or individual. It is a way of externally expressing a brand to the world. 2. Brand identity is the noticeable elements of a brand (for instance - Trademark colour, logo, name, symbol) that identify and differentiates a brand in target audience mind. It is a crucial means to grow your companys brand. 3. Brand identity is the aggregation of what all you (i.e. an organization) do. It is an organizations mission, personality, promise to the consumers and competitive advantages. It includes the thinking, feelings and expectations of the target market/consumers. It is a means of identifying and distinguishing an organization from another. An organization having unique brand identity have improved brand awareness, motivated team of employees who feel proud working in a well branded organization, active buyers, and corporate style. Brand identity leads to brand loyalty, brand preference, high credibility, good prices and good financial returns. It helps the organization to express to the customers and the target market the kind of organization it is. It assures the customers again that you are who you say you are. It establishes an immediate connection between the organization and consumers. Brand identity should be sustainable. It is crucial so that the consumers instantly correlate with your product/service. 4. Brand identity should be futuristic, i.e, it should reveal the associations aspired for the brand. It should reflect the durable qualities of a brand. Brand identity is a basic means of consumer recognition and represents the brands distinction from its competitors.

SOURCES OF BRAND IDENTITY

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AJK CAS- BRAND MANAGEMENT 1. SYMBOLS- Symbols help customers memorize organizations products and services.

They help us correlate positive attributes that bring us closer and make it convenient for us to purchase those products and services. Symbols emphasize our brand expectations and shape corporate images. Symbols become a key component of brand equity and help in differentiating the brand characteristics. Symbols are easier to memorize than the brand names as they are visual images. These can include logos, people, geometric shapes, cartoon images, anything. For instance, Marlboro has its famous cowboy, Pillsbury has its Pop pin Fresh doughboy, Duracell has its bunny rabbit, Mc Donald has Ronald, Fed Ex has an arrow, and Nikes swoosh. All these symbols help us remember the brands associated with them. Brand symbols are strong means to attract attention and enhance brand personalities by making customers like them. It is feasible to learn the relationship between symbol and brand if the symbol is reflective/representative of the brand. For instance, the symbols of LG symbolize the world, future, youth, humanity, and technology. Also, it represents LGs efforts to keep close relationships with their customers. 2. LOGOS- A logo is a unique graphic or symbol that represents a company, product, service, or other entity. It represents an organization very well and make the customers well-acquainted with the company. It is due to logo that customers form an image for the product/service in mind. Adidass Three Stripes is a famous brand identified by its corporate logo. Features of a good logo are: a. b. c. d. e. f. g. h. i. j. It should be simple. It should be distinguished/unique. It should differentiate itself. It should be functional so that it can be used widely. It should be effective, i.e., it must have an impact on the intended audience. It should be memorable. It should be easily identifiable in full colours, limited colour palettes, or in black and white. It should be a perfect reflection/representation of the organization. It should be easy to correlate by the customers and should develop customers trust in the organization. It should not loose its integrity when transferred on fabric or any other material. It should portray companys values, mission and objectives.

The elements of a logo are: 1. Logotype - It can be a simple or expanded name. Examples of logotypes including only the name are Kelloggs, Hyatt, etc. 2. Icon - It is a name or visual symbol that communicates a market position. For example-LIC hands, UTI kalash. 3. Slogan - It is best way of conveying companys message to the consumers. For instance- Nikes slogan Just Do It.

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Brand identity 1 Brand identity develops from the source or the company. Brand message is tied together in terms of brand identity. The general meaning of brand identity is who you really are? Its nature is that it is substance oriented or strategic. Brand identity symbolizes firms reality.

Brand image Brand image is perceived by the receiver or the consumer. Brand message is untied by the consumer in the form of brand image. The general meaning of brand image is How market perceives you? Its nature is that it is appearance oriented or tactical. Brand image consumers symbolizes perception of

6 7 8 9 10 11

Brand identity represents your desire. It is enduring. Identity is looking ahead. Identity is active. It signifies where you want to be. It is total promise that a company makes to consumers.

Brand image represents others view It is superficial. Image is looking back. Image is passive. It signifies what you have got. It is total consumers perception about the brand.

Branding is a process that allows an individual or a group of individuals the ability to provide a brand image and lettering to an idea. Upon doing so, one has a better chance of selling such items to a broader audience whether that be on a local or global level. Therefore, while the old adage nothing happens until somebody sells something, still stands true to some extent, at times almost seems as if the process of advertising and branding has overtaken the desire to sell. Although branding generally identifies the company and philosophies behind same, it can also be representative of those working for such a company. This is a good thing as it generates the right type of audience to the product or service being sold based on personal relationships with those running the company. Therefore, benefiting both the organizations selling the branded product or service and the dealers buying same.
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One of the most important steps in selling any product or service is the belief one holds in relation to the item. Therefore, only those who strongly believe in the products and services offered by the company are going to be good at selling same. Otherwise, one may want to work from an advertising or graphic artist perspective in relation to advertising rather than sales when it comes to time to market same. Another step is to build a brand that maintains loyalty with its customer base and has a strong customer service department. For, having such a department in today's world where one is both experienced and knowledgeable when it comes to helping others can be a rare find. So, companies who represent oneself has having a strong customer base and even stronger customer service department are often more successful than those who do not. A very important step in marketing a brand is to identify the target audience before creating the logo and lettering in relation to marketing. This is because different age groups react differently to a variety of logo and lettering especially as so much is misrepresented by a variety of gangs and others using such material inappropriately. Therefore, if one can define the brand name, logo and lettering and present same to a marketing research review panel or the like, one may be able to gain a better understanding of which audience one needs to direct their product or service to in order to create the most sales. Still, if one can communicate the use of their product or service clearly, establish trust within the community, be that locally or globally, aim marketing at the right audience, build a base of buyers and customer loyalty and offer great customer service, then one is on their way to not only creating and advertising an excellent brand but selling one as well. Therefore, when looking for steps in building a brand, there are many steps which one can complete to help make the creation of such brand an easier task. These include, knowing your audience, building your brand, finding a great logo and lettering to represent same, targeting the appropriate audience and placing a number of ads in as many online and offline advertising venues one can find. For, after doing so, one may just find that they are selling even more products and services than one had ever dreamed possible.

Brand positioning refers to target consumers reason to buy your brand in preference to others. It is ensures that all brand activity has a common aim; is guided, directed and delivered by the brands benefits/reasons to buy; and it focuses at all points of contact with the consumer. Brand positioning must make sure that:

Is it unique/distinctive vs. competitors ? Is it significant and encouraging to the niche market ? Is it appropriate to all major geographic markets and businesses ? Is the proposition validated with unique, appropriate and original products ? Is it sustainable - can it be delivered constantly across all points of contact with the consumer ?

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Is it helpful for organization to achieve its financial goals ? Is it able to support and boost up the organization ?

In order to create a distinctive place in the market, a niche market has to be carefully chosen and a differential advantage must be created in their mind. Brand positioning is a medium through which an organization can portray its customers what it wants to achieve for them and what it wants to mean to them. Brand positioning forms customers views and opinions. Brand Positioning can be defined as an activity of creating a brand offer in such a manner that it occupies a distinctive place and value in the target customers mind. For instance-Kotak Mahindra positions itself in the customers mind as one entity- Kotak - which can provide customized and one-stop solution for all their financial services needs. It has an unaided top of mind recall. It intends to stay with the proposition of Think Investments, Think Kotak. The positioning you choose for your brand will be influenced by the competitive stance you want to adopt. Brand Positioning involves identifying and determining points of similarity and difference to ascertain the right brand identity and to create a proper brand image. Brand Positioning is the key of marketing strategy. A strong brand positioning directs marketing strategy by explaining the brand details, the uniqueness of brand and its similarity with the competitive brands, as well as the reasons for buying and using that specific brand. Positioning is the base for developing and increasing the required knowledge and perceptions of the customers. It is the single feature that sets your service apart from your competitors. For instance- Kingfisher stands for youth and excitement. It represents brand in full flight. There are various positioning errors, such as5. Under positioning- This is a scenario in which the customers have a blurred and unclear

idea of the brand.

6. Over positioning- This is a scenario in which the customers have too limited a awareness

of the brand. 7. Confused positioning- This is a scenario in which the customers have a confused opinion of the brand. 8. Double Positioning- This is a scenario in which customers do not accept the claims of a brand.

Brand Extension is the use of an established brand name in new product categories. This new category to which the brand is extended can be related or unrelated to the existing product categories. A renowned/successful brand helps an organization to launch products in new categories more easily. For instance, Nikes brand core product is shoes. But it is now extended to sunglasses, soccer balls, basketballs, and golf equipments. An existing brand that gives rise to a brand extension is referred to as parent brand. If the customers of the new business have values and aspirations synchronizing/matching those of the core business, and if these values and

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aspirations are embodied in the brand, it is likely to be accepted by customers in the new business. Extending a brand outside its core product category can be beneficial in a sense that it helps evaluating product category opportunities, identifies resource requirements, lowers risk, and measures brands relevance and appeal. Brand extension may be successful or unsuccessful. Instances where brand extension has been a success arei. ii. Wipro which was originally into computers has extended into shampoo, powder, and soap. Mars is no longer a famous bar only, but an ice-cream, chocolate drink and a slab of chocolate.

Instances where brand extension has been a failure arei. In case of new Coke, Coca Cola has forgotten what the core brand was meant to stand for. It thought that taste was the only factor that consumer cared about. It was wrong. The time and money spent on research on new Coca Cola could not evaluate the deep emotional attachment to the original Coca- Cola. Rasna Ltd. - Is among the famous soft drink companies in India. But when it tried to move away from its niche, it hasnt had much success. When it experimented with fizzy fruit drink Oranjolt, the brand bombed even before it could take off. Oranjolt was a fruit drink in which carbonates were used as preservative. It didnt work out because it was out of synchronization with retail practices. Oranjolt need to be refrigerated and it also faced quality problems. It has a shelf life of three-four weeks, while other soft- drinks assured life of five months.

ii.

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Advantages of Brand Extension

Brand Extension has following advantages:

1. It makes acceptance of new product easy. a. It increases brand image. b. The risk perceived by the customers reduces. c. The likelihood of gaining distribution and trial increases. An established brand name increases consumer interest and willingness to try new product having the established brand name. d. The efficiency of promotional expenditure increases. Advertising, selling and promotional costs are reduced. There are economies of scale as advertising for core brand and its extension reinforces each other. e. Cost of developing new brand is saved. f. Consumers can now seek for a variety. g. There are packaging and labeling efficiencies. h. The expense of introductory and follow up marketing programs is reduced. 2. There are feedback benefits to the parent brand and the organization. a. The image of parent brand is enhanced. b. It revives the brand. c. It allows subsequent extension. d. Brand meaning is clarified. e. It increases market coverage as it brings new customers into brand franchise. f. Customers associate original/core brand to new product, hence they also have quality associations. Disadvantages of Brand Extension 1. Brand extension in unrelated markets may lead to loss of reliability if a brand name is extended too far. An organization must research the product categories in which the established brand name will work. 2. There is a risk that the new product may generate implications that damage the image of the core/original brand. 3. There are chances of less awareness and trial because the management may not provide enough investment for the introduction of new product assuming that the spin-off effects from the original brand name will compensate. 4. If the brand extensions have no advantage over competitive brands in the new category, then it will fail.

Brand as a personality

Brand is the personality that identifies a product, service or company (name, term, sign, symbol, or
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