JB

What is branding?

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Branding is one of the most important factors influencing an items success or failure in todays marketplace. A brand is the combination of name, words, symbols or design that identifies the product and its company and differentiates it from competition. Businesses use branding to market a new product, protect market position, broaden product offerings, and enter a new product category. Four types of branding are:

New product branding -- creating a new name for a new product in a category completely new to the company. Example: A Taste of the Kingdom jellies.

Flanker branding -- protect market position by marketing another brand in a category in which the firm already has a presence. Example: HORMEL chili and its flanker brand, STAGG chili.

Brand line extension -- use of the companys brand name in the firms present product category. Example: PepsiCos Pepsi and Diet Pepsi.

Brand leveraging (franchise extension) -- use of the existing brand name to enter a new product category is called leveraging. Example: Mr. Coffee (a coffee maker) and Mr. Coffee.

Why is it important to develop a brand? A brand offers instant product recognition and identification. Consumers identify branded products and, as a result of effective advertising, have confidence in product quality. Retailers like branded products because they make the store profitable - shoppers

attracted to branded products spend three to four times more on groceries than do privatelabel shoppers. Branding is beneficial for four reasons:

Differentiation -- A brand provides a clear and definitive reason for customers to buy your product. If this reason does not exist, your product is a commodity and the only measure of value is price. Small, value added businesses cannot compete on price successfully and need to incorporate some form of differentiation.

Conveys value -- Consumers perceive brand-name products as higher quality, more reliable and a better value than non-branded products. Generally speaking, the number-one brand in a category can command a 10 percent price premium over the number-two brand, and a 40 percent premium over the store brand. This price premium is known as a brand tax. Consumers understand that a strong brand can reduce getting stuck with disappointing or faulty products.

Builds brand loyalty -- Brand loyalty is the recurring stream of profit generated by repeat and referral sales of a specific brand. Repeat sales can be as much as 90 percent less expensive to a company than new customer development.

Builds pride -- Branded, recognizable products invoke a sense of pride in those associated with production, promotion, sale and distribution of those products.

Process of branding:
We are branding product for KAVIN who is 12 years old boy.

01. NAME OF BRAND:

To make a brand, the 1st step is to find a name for the brand. The two things which must be kept in mind is - 1. Simplicity & 2. Ease of pronunciation and spelling.

 Brand names that are simple and easy to pronounce or spell, familiar and meaning full, and different, distinctive, and unusual can obviously improve brand awareness. Ideally, the brand name should have a clear, understandable, and unambiguous pronunciation and meaning.

Keeping on this mind, we develop our brands name as JB .which is chosen by the technique called fanciful type. That means coined words with no obvious meaning. Reason behind this name is the famous child singer justin bieber .A child singer who is a style icon, age is only 13 & known for singing. So his name is going to help our idea to promote well. Although he is well known to all, his goodwill will help us to relate to people who wants to be stylish, at same time who wants good quality.

02. Slogan:

With a meaningful brand name there must have be a slogan. This slogan will be representative of our brand. Slogans are short phrases that communicate descriptive or persuasive information about the brand. They often appear in advertising but can play an important role on packaging and in other aspects of the marketing program. Slogans are powerful branding devices because, like brand names, they are an extremely efficient; shorthand means to build brand equity. These often become closely tied to advertisings and serve as tag lines to summarize the descriptive or persuasive information conveyed in the ads.

Style & Comfort ability together

Above tagline is basically the representative of our brand name. It represents the ensured facilities along with our products.

03. Symbol or logo:

JB
Logos and symbols are often easily recognized and can be a valuable way to identify products. The logo also uses the shortened version of the company name, here as we use. Although the brand mane typically is the central element of the brand, visual elements typically also play a critical role in building brand equity and especially brand awareness.

04. Packaging: Packaging is the activities designing and producing containers or wrappers for a product. it is a particularly cost-effective way to build brand equity. Thats why it is sometimes called the last five seconds of marketing It can create strong appeal on the store shelf and stand out from the clutter. From the perspective of both the farm and consumers, packaging must achieve a number of objectives

Identify the brand Convey descriptive and persuasive information Facilitate product transportation and protection Assist at-home storage Aid product consumption

Because our product is a kids ware so we should made our packaging more attractive .we can use - Color plastic bags to rap it. - Paper bags for carrying this out.

What are the challenges of building a brand? The greatest challenge faced when developing and building a brand is creating just the right name, slogan and symbol for the product. It will take a great deal of time and consideration! A thorough thought process and feedback from others will help to get past this obstacle. It is often difficult to achieve initial customer recognition of a new product, regardless of branding. However, branded items are more recognizable and memorable. Effective advertising before and after the sale is key to overcoming this obstacle. Advertising and promotion before the sale are essential to obtain first purchases and follow-up advertisements after the sale will promote customer satisfaction and repeat purchases. Repeat purchases are one of the primary objectives in brand development. Repeat purchases are critical to your businesses long-term success and contribute to brand loyalty.

Brand Loyalty

Brand loyalty is the ultimate goal a company sets for a branded product. In previous articles, the definition and importance of branded were discussed, as well as necessary steps needed to brand a product. This article focuses on brand loyalty, its importance to a company and steps necessary to convert to and maintain brand loyalty.

What is Brand Loyalty? Brand loyalty is a consumers preference to buy a particular brand in a product category. It occurs because consumers perceive that the brand offers the right product features, images or level of quality at the right price. This perception becomes the foundation for a new buying habit. Basically, consumers initially will make a trial purchase of the brand and, after satisfaction, tend to form habits and continue purchasing the same brand because the product is safe and familiar. Brand loyalists have the following mindset:

"I am committed to this brand." "I am willing to pay a higher price for this brand over other brands." Will recommend this brand to others."

Why is Brand Loyalty Important to the Bottom Line? There are three main reasons why brand loyalty is important:

Higher Sales Volume The average United States company loses half of its customers every five years, equating to a 13 percent annual loss of customers. This statistic illustrates the challenges companies face when trying to grow in competitive environments. Achieving even 1percent annual growth requires increasing sales to customers, both existing and new, by 14 percent. Reducing customer loss can dramatically improve business growth and brand loyalty, which leads to consistent and even greater sales since the same brand is purchased repeatedly. Premium Pricing Ability Studies show that as brand loyalty increases, consumers are less sensitive to price changes. Generally, they are willing to pay more for their preferred brand because they perceive some unique value in the brand that other alternatives do not provide. Additionally, brand loyalists buy less frequently on cents-off deals; these promotions only subsidize planned purchases. Retain Rather than Seek Brand loyalists are willing to search for their favorite brand and are less sensitive to competitive promotions. The result is lower costs for advertising, marketing and distribution. Specifically, it costs four to six times as much to attract a new customer as it does to retain an old one.

What is the Process to Create and Maintain Brand Loyalty? Favorable brand attitudes are the determinants of brand loyalty - consumers must like the product in order to develop loyalty to it. To convert occasional purchasers into brand loyalists, habits must be reinforced. Consumers must be reminded of the value of their purchase and encouraged to continue purchasing the product in the future. To encourage repeat purchases, advertisement before and after the sale is critical. In addition to creating awareness and promoting initial purchases, advertising shapes and reinforces consumer attitudes so these attitudes mature into beliefs, which need to be reinforced until they develop into loyalty. For example, the most avid readers of a travel ad are those who just returned from the destination. Ads reinforce a travelers perception and behavior. Remember, it is easier to reinforce behaviors than to change them, and the sale is just the beginning of an opportunity to turn the purchaser into a loyalist. A few more points to keep in mind

Develop an unbeatable product - if you want to keep customers, make sure they can get what they want from your product. Give customers an incentive to repeat-purchase - chances to win a prize, gifts with a certain number of proofs of purchase, in-pack discount coupons, etc. Stand behind your product if customers dont trust the product, they wont purchase it again.

Know your trophy customers and treat them best of all remember the rule that 80 percent of sales will come from the top 20 percent of customers. Make it easier to buy your brand than competing brands availability and simplicity are keys in todays high-speed world. Customers appreciate convenience more than ever. Go to your customers - bring the product to customers when possible. Become a customer service champion seek to serve the customer and they will repeatpurchaseagain and again!

Conclusion: