Brand occupies space in the perception of the consumer, and is what results from the totality of what the

consumer takes into consideration before making a purchase decision (Pickton and Broderick 2001).

So branding is a strategy, and brand is what has meaning to the consumer. There are some other terms used in branding. Brand Equity is the addition of the brand's attributes including reputation, symbols, associations and names. Then the financial expression of the elements of brand equity is called Brand Value. There are a number of interpretations of the term brand (De Chernatony 2003). They are summarized as follows:

A brand is simply a logo e.g. McDonald's Golden Arches. A brand is a legal instrument, existing in a similar way to a patent or copyright. A brand is a company e.g. Coca-Cola. A brand is shorthand - not as straightforward. Here a brand that is perceived as having benefits in the mind of the consumer is recognised and acts as a shortcut to circumvent large chunks of information. So when searching for a product or service in less familiar surroundings you will conduct an information search. A recognised brand will help you reach a decision more conveniently. A brand is a risk reducer. The brand reassures you when in unfamiliar territory. A brand is positioning. It is situated in relation to other brands in the mind of the consumer as better, worse, quicker, slower, etc. A brand is a personality, beyond function e.g. Apple's iPod versus just any MP3 player. A brand is a cluster of values e.g. Google is reliable, ethical, invaluable, innovative and so on. A brand is a vision. Here managers aspire to see a brand with a cluster of values. In this context vision is similar to goal or mission. A brand is added value, where the consumer sees value in a brand over and above its competition e.g. Audi over Volkswagen, and Volkswagen over Skoda - despite similarities. A brand is an identity that includes all sorts of components; depending on the brand e.g. Body Shop International encapsulates ethics, environmentalism and political beliefs. A brand is an image where the consumer perceives a brand as representing a particular reality e.g. Stella Artois Reassuring Expensive. A brand is a relationship where the consumer reflects upon him or herself through the experience of consuming a product or service.

A Branding Strategy Based upon Brand Franchise Extension (Tauber 1981)

A marcoms tool that a marketer can employ for branding decision-making is the Four Banding Alternatives (Tauber 1981). Four Branding Alternatives is a strategic marketing communications technique.

It is a fun and creative approach that can add value to any class that likes to discuss brands and how they could be innovatively developed. It is used when an organization considers adding a product to its portfolio and its associated brand name. The two variables for this matrix are Product Category (Existing or New) and Band Category (Existing or New).

New Product - a new product is developed with a series of new brand ideas and meanings to the consumer. Flanker Brand - a new brand is introduced into a category where the organization already has established products. Line Extension - a current brand name is introduced into a category where the organization already has established products. Franchise Extension - a familiar brand is taken to a product category where it is unknown.

Here's an example. Firstly let's recall that Four Branding Alternatives is a strategic tool, so you need to base it upon a very large organisation which is likely to own a number of brands. Examples would include car manufacturers, large IT companies, and conglomerates. You get the idea. An example for the Japanese company, Sony Inc is as follows:

New Product - Sony enters the market for music downloads under a new sub-branding idea and concept. Flanker Brand - Sony introduces the Sony Vaio laptops (as it indeed has). Line Extension - Sony enter the market for digital HD TV's (as it has). Franchise Extension - Sony enters the market for innovative environmentally friendly small cars that run on solar power. Difference Between Differentiated Marketing Strategy & Concentrated Marketing Strategy Marketing vs. Communications Differences How to Differentiate Between an Organization's Communication Objectives & Its Marketing Objectives Scholarships for Women Over 40 in Marketing Communications

The main difference between corporate and marketing communications is the target audience. Corporate communications are targeted toward the stakeholders of an organization, such as media, investors, clients and analysts. Marketing communications are targeted to consumers of goods and services Promotion and marketing communications are closely related. A promotion is a tactic used to develop your business or increase sales, typically creating an incentive for customers to act. Marketing communication is sending messages to your intended receiver (your ideal client

See original page: http://www.functional-marketing.com/promotion-and-marketingcommunications.html#ixzz2l1nEldKJ Under Creative Commons License: Attribution

What is Corporate Identity?

...and Why is it Important?

The concept of corporate identity is akin to what we refer to when we talk about our own identity, the specifics that differentiate us from others. It is our personality and character that maintains our individuality, which we express through how we behave, speak, and even what we wear. The IMC Profile has nine (9) DIMENSIONS<br />

Promotional Mix Integration Promotional Mix with Marketing Mix Integration Creative Integration Intra-organizational Integration Inter-organizational Integration Information and Database Systems Integration Target Audience Integration Corporate and Unitised Integration Geographical Integration

IMC DIMENSION (1) Promotional Mix Integration<br />Successful IMC requires integration of all relevant marketing communications and promotional elements. The four promotional elements which are;<br />

Advertisement Sales promotions Public Relations Personal Selling

These four elements need to be propelled in a manner as to send one convincing message to target audience. In Vanguard, personal selling is a major promotional tool used, as the nature of products offered makes it more or less the most effective tool to use. Sales executive usually have adequate information and knowledge with respect to the product before encountering actual

or potential customers.<br />Advertisements are made on the television, on the radio and on the internet about the products Vanguard Assurance Company Limited offers the market. There are countless numbers of paid non-personal presentations done for Vanguard Assurance Company Limited. One can make mention of their presence in the newspapers, on the billboards and on the television as well.<br />Public Relations in the form of publicity are done in the graphics and newspapers. On the television we see vanguard appearing in news lines and less-than-fifteenminutes programs on vanguard sponsorships given to students and how it has helped them. Sponsorships, lobbying and event management are other key areas of public relations in Vanguard.<br />-304800-333375Sales promotions are used in Vanguard as well. One can make mention of the on-going promotion which is awarding any customer who buys a comprehensive insurance policy for more than five hundred Ghana Cedis the chance to win a Toyota Fortuner.<br />The first dimension of the Quality of Integration Profile examines the extent to which all of these promotional tools are integrated effectively. <br />The Promotional Mix Integration<br />19050-3810<br />Effective integration is done when all the promotional tools are made to complement one another. In Vanguard television advertisements are sometimes made of scenes from the promotions they may be running. One can mention the paintings on the taxis Vanguard issued to the hardworking drivers as another form of advertisement embedded in a sponsorship package.<br />Personal Selling in Vanguard is not only done to make sales but also to promote sales. As one can figure out from the diagram, items do not fall strictly into its generic promotional category but you find them falling over the boarders as well. This shows how the various elements interact to create excellent integration.<br /> IMC DIMENSION (2) Promotional Mix with Marketing Mix Integration<br />Successful IMC requires integration of the promotional mix with the rest of the marketing mix to ensure consistency. All aspects of the marketing mix have communications implications. This dimension defines how well the promotional mix explained above comes into perfect coexistence with the four Ps. The four Ps are;<br />

Product Price Promotion Place

The Marketing Mix is made to elicit a consistent message as the promotional tools only when they are managed together in an effective manner. In Vanguard the products, price, and place have strong links with the promotional mix. The promotion mentioned earlier for instance, is very price sensitive by awarding the Toyota Fortuner to a customer who buys a comprehensive insurance policy which exceeds five hundred Ghana Cedis and comes up as a lucky winner in a final draw.<br />Talk of place; one can find Vanguard anywhere there is business. Personal Selling is used in the market centres to roll market women on board Vanguard Policies. At lorry stations and such places, direct marketing is used to monitor the expiring date of its vehicle insurance policies, write them off discounts and renew their policies for them as soon as they expire.<br />Finally Vanguard Assurance Company Limited promotions are done especially with respect to specific products. The company is most often promoted as well. Most corporate insurance businesses require specialist and assets evaluation experts to come up with the premium payable. Goods in Transit, Money in Transit, General Employee Insurance and many

others are all other products of Vanguard which contribute to a greater percentage of their profits. The Vehicle Insurance make up the masses of their businesses and due to its inelastic demand, that is , at any price consumers will have to purchase it because it is made compulsory by the government, it contributes to a significant and sturdy portion of the income that comes into the company annually.<br /> IMC DIMENSION (3) Creative Integration<br />Successful IMC requires integration of the creative treatments and messages across media and approaches. As heard from the CEO, there are clearly creative means through which Vanguard tries to entice their customers to create profitable relationships in the exchange transactions. <br />The challenging nature of the Insurance industry has morphed Vanguard to devote so much to research and development. This can be associated with the reason why they are one of the best. Vanguard is known on the market as the first to come up with new policies or products before the other insurance companies imitate them. Creative Integration done in Vanguard can be traced from the innovative means of cutting operations cost to offering products to customers at affordable prices.<br />As insurance is defined as the pooling together of risks, the large customer base is manipulated in a creative way to charge less premiums but honour claims and pay other financial obligations as well.<br /> IMC DIMENSION (4) Intra-organisation Integration<br />Successful IMC requires integration of the different parts within the organisation involved with planning and producing marketing communications. This essential as it is typical that many individuals carry out marketing communications activities from telephonists, call centre and reception staff, to sales staff, to different departments within the organization.<br />Every employee in Vanguard has a target number of customers to bring in by the end of the month, irrespective of whether the employee is a marketing personnel or no, or a line or functional employee, from the top management the lowest operational level employee.<br />Also, even the receptionist in Vanguard can make a sale if a prospect passes by. Telephonists and experienced customer service points are set aside for each department to answer any question on any of their traditional products or a product they may be pilot testing.<br />Taking a good look at the IMC Mix Model above, the company image, customer service, shareholders communication and many aspects of the organization are integrated to enforce and complement the motto WE ALWAYS STAND BY YOU.<br />Not to mention the research and development department liaising with the marketing department and other department of the company to test products and ideas on the market. In the course of doing this, the premium administration department, the customer relations, accounts department, and other affected departments are correlated in a manner as to arrive at the desired results.<br / >IMC DIMENSION (5) Inter-organisation Integration<br />Successful IMC requires integration of the agencies and individuals who are external to the organisation but who are involved in producing marketing communications. For example, advertising agencies, printers, designers, exhibition specialists, PR consultancies, and many others.<br />The versatile and changing consumer tastes is complemented by the high nature of research and development. Vanguard always keeps stocks at economic order quantity in other not to waste resources. Receipts, policy documents and other materials are ordered in quantities not to run out and yet a sharp change in the policy details be easily implemented. <br />Finally, exhibition specialists make the blue and white colours of the company a part of the occasion Vanguard is present.<br />

IMC DIMENSION (6) Information and Database Systems Integration<br />Successful IMC requires integration of information and database systems. These are critical in todays organisational operations. Systems vary from the simple to the sophisticated. They can be very sophisticated. Some argue that they are life blood of any marketing oriented company.<br />Vanguard keeps a detail record of its customers. This is to help approach the customers with a renewal policy as the existing one is about expiring. They do this by calling them on their cell phones or posting a reminder letter into the mail box.<br />The database is well kept and managed as the Information and Database Systems Integration is a key means through which vanguard maintain its market share and adds on new ones.<br />Online claims delivery is an integral aspect of Vanguards insurance services delivery and at Vanguard Assurance they pride themselves with excellent claims response and settlement which would otherwise not be the case without their customers.<br />Advertisements are done on the internet, on the web pages and also customers are given the opportunity to interact with the business online.<br / >IMC DIMENSION (7) Target Audience Integration<br />It is be clear that IMC involves a variety of audiences. Messages and media need to be integrated for successful IMC. This does not mean that everything needs to be the same. Integration involves knowing when things need to be kept apart and having mechanisms to do this. Messages intended for one audience need not be identical to another. For this reason, Vanguard sends a very strict message across enforcing the slogan we always stand by you.<br />We always stand by you is an image which all the promotional tools and internal organs of Vanguard seek to position in the mind of its customers or target audience a very strong corporate image. <br />The concept of target audience integration involves not just targeting the consumers or customers but also the publics, media, relatives and other decision making units who are all part of the total audiences and play a very important role in the consumer purchase decision making behaviour.<br /> IMC DIMENSION (8) Corporate and Utilised Integration<br />Successful IMC requires integration of corporate, company communications as well as individual brand communications. IMC may also involve communications about individuals in the company. Good examples are Richard Branson for Virgin or the way leaders of political parties are promoted as key personalities.<br />The Assistant Chief Executive Officer of Vanguard Life Assurance Company Limited, Mr Gedion Amenyedor is known for what his company does. They are known for quick claims payments and good sales personnel. <br />Sales executives in Vanguard are known for their ability to display perfect presentations of the various products they have. Good presentation and communication skills, smart and neat looks and perfectly organized staff are key elements vanguard is known for.<br /> IMC DIMENSION (9) Geographical Integration<br />Successful IMC requires integration of marketing communications in different areas, regions and countries. This is particularly evident in international marketing contexts. Decisions may involve ensuring complete consistency/standardisation or adapting the marketing communications approaches for different countries. <br />Vanguard has its agent at any place one can assume there may be prospects. In the Market places you find Vanguard right among them. At lorry stations Vanguard is always there to remind them of an insurance Policy renewal. Across the country, Vanguard has its branches in all the ten regions of Ghana but refuses to go international. <br />IMC Quality of Integration Profile<br />To construct the IMC Quality of Integration Profile, these nine

different dimensions are used to form the vertical axis of the Profile. The horizontal axis is a scale against which each dimension is assessed. The scale is a measure of the synergy (positive or negative) that has been achieved. It is a continuum from very strong dysfunction (that is the way in which marketing communications work against each other in a negative way).<br /> <br />Putting the dimensions and the scale together we have the IMC Quality of Integration Profile. The easiest way to use it is in the assessment of individual campaigns at brand and corporate levels<br />A completed profile<br />According to the chart, creative integration has been assessed as having very strong synergy which means that creative treatments and messages have been integrated well. Geographical integration has been assessed as having strong dysfunction.<br />By reviewing the profile it is possible to highlight areas that need most work, raising questions about why that is so and what can be done about it.<br />4.0 CONCLUSION<br />In summary, Vanguard Assurance has a good marketing program. They are a well known organization that comes out with innovative products and policies and all this can be linked to how they incorporate IMC in their daily and strategic moves. This can again be attributed to the reason why they have a competitive edge over their competitors.<br />Integrated Marketing Communications is done in many companies all over the world. Today companies cannot exist without adopting the concepts of IMC, yet the extent to which this is done differs from place to place. No one is able to achieve perfection and Vanguard is no exception. The models in used above however, come together to represent a clear state of how IMC is done in Vanguard. <br />Other practical examples of

Brand vs. Branding

Your brand, put simply, is who you are and what you represent. Your brand gives you an image that people think about when they meet you or encounters your business. Your branding is the series of or collection of activities that you do to establish your brand. It is about the things that you create. Your marketing materials, your blog, your website, your emails, your business cards, your QR codes. These and other things are what constitute your branding. Basically that's the big difference. You are your brand, but your branding sends the message out to people. Both your brand and your branding, however, defines your business and yourself. Why?

It is because it both tells a story about you, your business and what you do. But more importantly, both can influence the way people recall, remember and recommend you. So both your brand and your branding are the best way to establish your authority, niche and credibility. Whether it is on a personal or corporate level, brands and branding can help define the person or business.

Definition of individual branding: Marketing policy under which each product has its own brand, different from every other product in the same product family

individual branding

Definition
Marketing policy under which each product has its own brand, different from every other product in the same product family or from the same firm.

Read more: http://www.businessdictionary.com/definition/individual-branding.html#ixzz2l1zVxyt4 Corporate branding is the practice of using a company's name as a product brand name.

Branding News Roundup 11/29/05 10 Branding Insights and Opportunities

6 Components of Branding

3 Comments

16,279 views

Tags:

Branding is not just a logo or trademark. It incorporates many components that work together to form the destination brand concept. Their management is part of the brand strategy. The value of the brand is described by the term brand equity. Brand positioning and leveraging are branding management approaches. The identity, image, personality, essence or soul, character and culture are the brand components.
Brand identity

is how brand strategists want the brand to be perceived. It is a set of unique brand associations that represent what the brand stands for. These associations imply a promise to customers from organization members. Brand identity should help establish a relationship between the brand and the customer by generating a value proposition involving functional, emotional or self expressive benefits.
Brand image

is a key component in the formation of a clear and recognizable brand identity in the market. Brand image is related to how the brand is currently perceived by consumers. In other words what is the reputation of the brand in the marketplace.
Brand character

is related to its internal constitution, how it is perceived in terms of integrity, trustworthiness and honesty. This is also related with the promise of the brand to deliver the experience associated with its name.
Brand culture

is about the system of values that surround a brand much like the cultural aspects of a people or a country.
Brand personality

is the set of human characteristics that are associated with the brand. It includes such characteristics as gender, age, socioeconomic class, as well as human personality traits such as warmth and sentimentality.

Brand essence (brand soul)

represents the emotional elements and values of the brand. Essence should be part of a long term positioning that does not change with every communication