Concept of Branding

Forms of Branding A brand is a design, name, symbol, term or word that distinguishes and identifies a company and/or products or services

Forms of Branding A corporate brand represents the entire company or organization For example, Pepsi, pizza hut, Dell

Forms of Branding A product brand represents a specific product of a company or organization For example, Diet Coke, Mac book air, or Windows 7.

Forms of Branding A private distributor brand, also called a store brand

Components of a brand name 1. Includes all of the combined impressions and experiences associated with a particular company or product For example, McDonalds makes the customer think about quick food, low prices, and consistent service

Components of a brand name 2. Brand identity consists of a spoken name and corresponding design, logo, or symbol For example, Coca-Cola and the Coke “swirl” or Nike and the Nike “Swoosh”

Components of a brand name 3. Brand image is the consumer’s belief about the company and/or its goods or services Quality, price and value may affect a brand’s image

Components of a brand name 4. Brand equity is the perception of added value a product has as a result of its brand name A highly recognizable brand has a high level of brand equity Is an intangible perception or memory

Benefits of brand equity Include: 1. Brand name recognition or awareness 2. Customer loyalty 3. Perceived quality 4. Strong emotional or mental associations

Brand equity as an asset Coca Cola$69 billion Microsoft$65 billion Disney$32.6 billion American Express $17 billion Ericsson $7 billion

Forms of trademarks Trademark: Word, phrase, symbol, or design that identifies and distinguishes the company from others Patent and Trademark.

Forms of trademarks Service Mark: Same as a trademark, but for service

Forms of trademarks Trademark ™ or Service mark SM : Used by company to claim rights/ownership to a trademark or service mark May be used by company after registering.

Forms of trademarks Trade character: Personified symbol that represents the brand name For example, Mickey Mouse for Disney, Captain Fear for Tampa Bay Buccaneers, or STORMY for the Carolina Hurricanes

Elements that make a brand successful 1. Easy to pronounce and free from negative connotations For example, Tide

Elements that make a brand successful 2. Short and easy to remember and recognize For example, Nike or Epic records

Elements that make a brand successful 3. Describe the products features and/or benefits For example, Arcticat Snowmobiles or Goodyear Aquatred

Elements that make a brand successful 4. Consistent with the image of the product For example, FedEx

Elements that make a brand successful 5. Must be distinctive enough to not infringe on any copyrights or other trademarks Should be capable of legal protection and registration