A guarantee of GOOD SOURCE GOOD QUALITY

Language was developed to convey information about two things

religion and business transactions (who is involved, what was transacted, and

how much)

These early brands can be called proto-brands and their elements, i.e., the use of a logo, text, and colour are important for brands even today.

What

A brand is a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competition.
Why How American Marketing Association

Rational, functional, tangible -- performance Emotional, symbolic, intangible what brand represents
A brand : a product that provides functional benefits plus added values that some consumers value enough to buy

1.
2. 3. 4.

A service
A product A store A place/geographic location

5.
6. 7.

A person
An idea An online organization

8.

An organization

A brand is a lens through which the consumers view

the product and the firm.

BRAND
Symbols Brand personality Scope Functional benefits Organizational associations Attribute User imagery

Country of origin

PRODUCT
Product uses

Quality/value

Brand customer relationship

Emotional benefits

Self-expressive benefits

Benefits of Building Strong BrandsOrganizational Perspective Identifier Shorthand for information Legal protection Differential advantage Unique associations Price premiums Enhancing customer loyalty Higher market share Inelastic response to price increase As a barrier to entry of other brands Can be bought and sold as an asset

Benefits of Building Strong Brands Customer Perspective Source of identification Heuristic or proxy for quality Source of evaluation A tool to simplify decision making Risk reducer
Financial risk, performance risk, time risk, social risk,

psychological risk

Tool to express self image

Functional brands Image brands Experience brands

Intelligent and educated customers Growth of private labels Brand proliferation Increasing trade power Media fragmentation and the rise of new media Increasing cost of product introduction and support Increasing job turnover

Brand equity Brand loyalty

Brand switchers

Habitual buyers
Switching-cost loyal Friends of the brand Committed customers

Level 5

Level 4

Level 3

Truly like the brand and consider it as a friend Switching-cost loyal Satisfied with the brand and have a switching cost Competitors need to overcome switching cost Habitual buyers Satisfied buyers, absence of any dissatisfaction Vulnerable to competitors stimulations

Take pride in using the brand Friends of the brand Recommend brand others Emotional attachment withto the brand

Committed customer/consumer

Level 2

Level 1

Brand switchers Indifferent to the brand name Buying decision based on price, availability etc and Brand name does not play a significant role in the purchase decisions

Whether to brand or not How to build brand equity How to measure brand equity Understanding customers and how they purchase a brand How to position the brand Which marketing mix strategies to choose How to design branding strategies How to manage brands over time How to manage brands across geographical boundaries

Concept of branding Significance of branding How branding evolved Need to build strong brands Key issues in branding