Elements and Strategies. What is branding? Name, term, design, or symbol that identifies a business...
-
Upload
caren-hill -
Category
Documents
-
view
223 -
download
1
Transcript of Elements and Strategies. What is branding? Name, term, design, or symbol that identifies a business...
Brand NameWord, group of words, letters, or numbers
representing a brand that can be spoken.Brand name products cost more than similar
unbranded products because of higher advertising costs.
Brand MarkPart of the brand that is a symbol or design
May include distinctive coloring or letteringElement of the brand that usually is not spoken
Trade NameIdentifies the company or a division of a
particular corporation.
Brand Name Trade Name
Cereal Cereal manufacturer
Car Car manufacturer
Athletic shoes Shoe manufacturer
Trade CharacterA brand mark with human form or
characteristicsBird Eye’s Jolly Green GiantKellogg’s Tony the TigerPillsbury Doughboy
TrademarkBrand name, Brand mark, Trade name, trade
character, or a combination of these that is given legal protection by the federal government.Cannot be used or misused by other companies
Harley-Davidson applied for a sound trademark consisting of the exhaust sound from its motorcycle engine
Boston Duck Tours received a sound trademark for the sound of a human voice making duck-like quacking noises
Why are brands important?Helps build customer loyaltyProducts carrying the same brand are of a
consistent qualityCan address new target marketsEstablishes an image
Types of BrandsManufacturer Brands
Owned and initiated by manufacturers General Electric, Heinz
Indicate a standard quality and pricePrivate Distributor Brands
Owned and initiated by wholesalers and retailersThe manufacturer’s name does not appear on the
product Radio Shack, Kmart
Appeal to customers who want the quality and performance of manufacturer brands at a lower price
Types of BrandsGeneric Brands-represent a general product
category and do not carry a company or brand name.Often priced 30-50% lower than manufacturer
brands and 10-15% lower than the private distributor brands
Branding StrategiesThe way companies use brands to meet sales
and company objectivesBrand ExtensionBrand LicensingMixed BrandsCo-branding
Brand ExtensionA branding strategy that uses and existing
brand name of an improved or new product in the product line.Starbuck ice cream
Companies can reduce the risk of failure by using an already established brand name.
Brand dilution occurs when the original brand has been stretched to include too many products
Brand LicensingThe legal authorization by a trademarked
brand owner to allow another company to use its brand, brand mark, or trade character for a fee
Enhance their company image and sell more of their core products
Mixed BrandsInvolves simultaneously offering a
combination of manufacturer, private distributor, and generic brands.
Allows a business to reach several target markets
Co-BrandingCombines one or more brands to increase
customer loyalty and sales for each individual brand.Limited edition 2000 Harley-Davidson F-150 pickup
truckStarbucks has an agreement with Barnes & Nobles
bookstores to open coffee shops inside the storeWorks best if both companies complement each
other and each brand receives equal billing in advertisements, direct mail, and other promotions