1. The Importance of Branding

2. Objectives Explain the concepts of branding and brand equityExplain the concepts of branding and brand equity Describe how to develop a brand nameDescribe how to develop a brand name

3. What’s a Brand? Brand: A name word or words, letters, symbols, numbers or design that identifies an organization and its products.

4. What’s a Brand? Brand Name: Word or words, letters or numbers representing a brand that can be spoken, such as “Gatorade” or “Woodstock Wolverines.”

5. Why is Branding Important? Builds Customer LoyaltyBuilds Customer Loyalty Helps Companies introduce New ProductsHelps Companies introduce New Products

6. Brand Equity The value a brand has beyond its functional benefits.

7. Developing Brand Equity 1.Develop the brand in the consumer’s mind as part of a class of products. The Yankees are a professional baseball team 2.Link the product’s brand name to its function and make some type of emotional connection with the product. The Yankees fans think positively about the club and players 3.Help consumers think and feel the way you want them to regarding your product. Yankees fans stick with their team (through good/bad) because of the bond they have with the team. Sports

8. 5 Steps for Developing Brand Names 1.Offer a benefit 2.Be Simple 3.Be Different and Positive 4.Reflect an Image 5.Be Previously Unregistered

9. 1. Offer a Benefit A good brand will offer a customer valueA good brand will offer a customer value

10. 2. Be Simple A simple name is more memorableA simple name is more memorable

11. 3. Be Different and Positive

12. 4. Reflect an Image A positive association with an athlete or team can help create a distinct image of a product.A positive association with an athlete or team can help create a distinct image of a product.

13. 5. Be Previously Unregistered A brand name cannot be previously registered with the U.S. Patent and Trademark office.A brand name cannot be previously registered with the U.S. Patent and Trademark office. Go to www.uspto.gov to conduct a searchGo to www.uspto.gov to conduct a searchwww.uspto.gov