1. Branding Elements and Strategies Chapter 31- Section 1
What you will Learn
Nature, scope and importance of branding in product planning
Various branding elements
Different types of brands
Branding strategies

2. Branding
Brand is a name, term, design or symbol or combination that identifies a business or organization
Two Categories: Corporate and Product
Reflect quality, value and reliability
Builds customer relationships and loyalty
Have tremendous value and is an important asset (ex. Coca-Cola $83.8 Billion)

3. Elements of a Brand
Brand Name – words, letters and numbers that can be spoken (Mountain Dew)
Brand Mark – Symbol or Design (Apple – Apple Computers)
Trade Name – Legal name for company (ex Dell)
Trade Character – brand mark with human characteristics (Jolly Green Giant)
Trademark – Any of the above that is legally protected by Federal Government can include sound, color and smell (ex Harley Davidson sound)

4. Importance of Brands Helps build customer loyalty
Assures customer’s of consistent quality
Vital to address new target markets
Establishes an image for a product and company

5. Generating Brands
Requires research to determine if name is already used (79,000 trademarks)
Often generated internally by employees
Software programs can help create brands
Branding agencies, naming consultants or public relations firms may be hired

6. Types of Brands Products classified by who owns them
Manufacturer’s Brands/Producer’s Brands
Owned and initiated by manufacturers
Examples: General Electric, Heinz
Private Distributors Brands
Also called private, store or dealer brands
Owned and initiated by wholesalers and retailers
Examples: RadioShack, Kenmore and Craftsman
Generic Brands
General product category-no company or brand name
Lower priced items usually carried in Supermarkets

7. Branding Strategies
Ways companies use brands to meet sales and company objectives
Brand Extension
Uses existing brand name for a new or improved product – may lead to brand dilution
Brand Licensing
Allows another company to use the brand for a fee
Mixed Brands
Offer a combination of manufacturer, private distributor and generic brands
Co-Branding
Combine two or more brands to increase customer loyalty and sales for each brand