1. Branding Elements and Strategies

2. Branding Decisions
A brand is a name, term, symbol, or any other unique element of a product that identifies one firm’s product(s) and sets it apart from competition
Brand Mark
is the part of the brand that is a symbol or design.
Trade Name
Identifies the company or a division of a particular corporation
Trade Character
Brand Mark with human form or characteristics
Trademark
Brand name, brand mark, trade name, trade character, or combination of these that is legal protected by the government

3. Importance of brands in product planning for seven reasons
Builds Loyalty
Satisfies
Easily recognized
Quality
Address new markets
Help when introducing a new product
Establishes image
Brands should
be memorable
have a positive connotation
convey a certain image

5. Branding Strategy High consumer awareness Strong brand loyalty
Brands are powerful assets that must be carefully developed/managed.
Brands with strong equity have many competitive advantages:
High consumer awareness
Strong brand loyalty
Helps when introducing new products
Less susceptible to price competition

6. Brand Preference

7. Key Decisions Brand Strategy Three levels of positioning:
Product attributes
Least effective
Benefits
Beliefs and values
Taps into emotions
Brand Positioning Brand Name Selection Brand Sponsorship Brand Development

8. Key Decisions Brand Strategy
Good Brand Names:
Suggest something about the product or its benefits
Are easy to say, recognize and remember
Are distinctive
Are extendable
Translate well into other languages
Can be registered and legally protected
Brand Positioning Brand Name Selection Brand Sponsorship Brand Development

9. Key Decisions Brand Strategy
Manufacturer brands
Private (store) brands
Costly to establish and promote
Higher profit margins
Licensed brands
Name and character licensing has grown
Co-branding
Advantages / disadvantages
Brand Positioning Brand Name Selection Brand Sponsorship Brand Development

10. Key Decisions Brand Strategy
Line extensions
Minor changes to existing products
Brand extensions
Successful brand names help introduce new products
Multi-brands
Multiple product entries in a product category
New brands
New product category
Brand Positioning Brand Name Selection Brand Sponsorship Brand Development

11. More Strategies Brand Licensing
Legal authorization by a trademarked brand owner to allow another company to use its brand mark, trade character for a fee.
Mixed-Brand strategy
offer a combination of manufacturer, private distributor, and generic brands.
Co-Branding
Combines one or more brands to increase customer loyalty and sales for each individual brand.

12. Line Extensions May Feature Different:
Brand Strategy
Line Extensions May Feature Different:
Flavors Colors
Forms Ingredients
Package Sizes

13. How 15 of the world's top brands got started
Read Article with a partner Answer questions on the worksheet