Definition: Enhancing a brands equity directly through advertising campaigns and
indirectly through promotions such as cause championing or event sponsorship is known as brand building.
Branding is name, term, design, symbol or any other feature that identifies product Branding is the process of creating a name and look for your business.
Effect of a brand? Compels preference in consumers mind by undertaking the following task: eye on the market the target consumer competitions market objectives the trademark
Importance of Brands today Brand is a promise. Brand is a specific combination of logo, words, type font, design, colors, personality, price, service, etc. Bundle of attributes. Sometimes a brand is memorable because of the little things.
Consumer & their perspective
Identification of Source of Product Assignment of Responsibility to Product Maker Risk Reducer Search cost Reducer Promise, Bond, or Pact with Maker of Product Symbolic Device Signal of Quality
Classic brand failure NEW COKE Summary Created to compete with Pepsi New Coke was a top secret operation Large amount of money to market New Coke Public was overwhelmingly negative about New Coke Old Coke formula was returned with HFCS Objectives A large marketing campaign was created to compete with Pepsi. Coca-Cola attempted to make Coke taste more like Pepsi. Smoother Sweeter Bolder
Reason Campaign failed. Coca-Cola failed to ask critical questions to its beloved fan base: Do you want a new Coke? Mistake cost money and reputation for a moment in time. NEW COKE Purpose Coca-Cola invested a large amount of money into a failed campaign. The company assumed New Coke would be better. Removed a successful product, Old Coke. Coke drinkers should have been addressed.
Concentrate on the brands perception. Dont clone your rivals. Feel the costumer love and loyalty. Maintain the core quality of the product. Dont be scared to U-turn. Do the right market research.
Lessons from New Coke (Solution)
Brand Extension Using an established name of one product class for entering another product class. Using a successful brand name for launching a new or modified product or line is known as brand extension strategy. An expansion strategy in which firms use already established and successful brand name for introducing a new or modified product
Brand Extension Adversely affect value associated with brand. Brand extension that fails to make an impact may dilute equity of a reputable brand name. Brand extension may carry typical attributes of parent that may be dangerous to extended brand.
Negative impact BRAND EXTENSION FAILURES
Harley Davidson perfume-The sweet smell of failure
PONDS TOOTHPASTE- a failure owning to brand perception
Cast Study American motorcycle manufacturer distinctive design and exhaust note licensing of the Harley-Davidson logo amounts to approx. 5% of the companys net revenues. Long-term relationships with the customers
Harley Davidson Perfume T-shirts Jackets Caps Gloves helmets key chains socks ornaments etc. Brand Extension Ponds is a unilever product Ponds made a smooth transition from a cold cream to Age defying creams, soap, face-wash, talc etc. The attributes required in toothpaste case were simply missing. To consumers the brand Ponds was nothing but fragrance & a consumer product for external application only Thus perception of cleanness and freshness is taken so differently in different products.
Ponds toothpaste & extension failure Know what creates core value for your brand Dont take something away that your most loyal consumers love To reach new audiences, start with your core brand promise Failure helps you learn and come back stronger
Bottom line: Know your brand. Your authenticity is what creates connection and authenticity and connection never go out of style even if the world around us changes.
Case study learning Every market has a different culture, failure to understand that culture while adapting a brand extension can lead to brand failure Cultural Failure McDonalds in India- Changed their menu to suit the Indian taste palate. They also began cooking their food in vegetable oil as opposed to animal fat. Removed beef and pork from the menu to appease religious values.
Dominos In India- Changed menu for Indian people- introduced variants like Peppy Paneer, Tandoori Chicken etc.
Tupperware India- Introduced boxes keeping the Indian requirements in mind like 5kg rice box & masala box amongst others.
Cultural Transitions Rebranding is a marketing strategy. Rebranding efforts include a name change, new logo or packaging and image, marketing strategy, and advertising themes. Goal is to influence a customer's perception about a product Re-Branding Failure Not thinking carefully before rebranding can risk undermining their previous marketing efforts. Makes changes for the simple reason that this makes sense for the company. End up following in the ill-fated footsteps.
Tropicana Products is an American multinational company which primarily makes soft drinks. It was founded in 1947 by Anthony T. Rossi in Bradenton, Florida. The company specialises in the production of orange juice.
TROPICANA PepsiCo re launched Tropicana with new packaging and created a new advertisement to promote it. The old design of an orange with a straw in it was replaced with a glass of orange juice. The normal screw cap was replaced with a squeezable cap which had the appearance of half an orange.
TROPICANA Re-Branding Labelling Information Structure Tone of Voice Typography Imagery Colour Brand Speak Affordances
Re-Branding Failure Never try to solve something which is not a problem in the first place Conclusion