Part IV

Topics: Brand, Brand equity, Brand management Pages: 49 (2533 words) Published: March 26, 2015
PART-FOUR
BRAND MANAGEMENT: AN OVER VIEW

24/10/2013

Prepared by Temesgen B. (PhD)

Outline…
• Evolution of Brands
• What is a Brand?
• Choosing the Brand Elements
• Creating Brand Equity
• Crafting the Brand Positioning
• Strategic Brand Management
24/10/2013

Prepared by Temesgen B. (PhD)

Evolution of Brands…
• The term brand comes from the word ‘
Brandr’ (to burn), practiced by ancient
farmers to put marks on their animal
by burning their body to identify them
• The nucleus of branding seems to be
uniformity

24/10/2013

Prepared by Temesgen B. (PhD)

Continued…
• People needed to put seal on their
items because their properties were
similar to others’ properties and
differentiation becomes difficult
• Therefore, Branding is imperative
when identity is lost due to
homogeneity.
• Initial brands were the name of the
owner or producers e.g.
– Ford, Sears, TATA etc.
24/10/2013

Prepared by Temesgen B. (PhD)

Continued…
• Major classifications of brand names
–Personal/Given name of investor or
inventor
–Name of places
–Scientific names
–Appealing words
–Descriptive words

24/10/2013

Prepared by Temesgen B. (PhD)

Continued…
• Afterwards, brands started to take names
of places, famous people and animals in
attempt to strengthen association
between product and brand
• In the middle of 20th century,
Industrialization brought mass production
of homogeneous items
– Central objective of brands being
differentiation
24/10/2013

Prepared by Temesgen B. (PhD)

What is a brand?
A brand is perceptual entity that lives
in the consumers mind.
A successful brand is a name, term,
sign, symbol, design or combination
of this which identifies a product of a
given firm as having sustainable
differential advantage.
24/10/2013

Prepared by Temesgen B. (PhD)

Cont’d....
• The American Marketing Association defines a
brand as "a name, term, sign, symbol, or
design, or a combination of them, intended
to identify the goods or services of one seller
or group of sellers and to differentiate them
from those of competitors."

24/10/2013

Prepared by Temesgen B. (PhD)

Cont’d...
• A brand is thus a product or service whose
dimensions differentiate it in some way from
other products or services designed to satisfy
the same need. These differences may be
functional, rational, or tangible related to
product performance of the brand. They may
also be more symbolic, emotional, intangiblerelated to what the brand represents. 24/10/2013

Prepared by Temesgen B. (PhD)

Continued…
• A brand is valuable asset of a firm
that is legally protected
• Therefore, branding makes customers
to discriminate among marketers’
offers in a way it creates value to the
product

24/10/2013

Prepared by Temesgen B. (PhD)

Continued…
• Elements that identify and differentiate a
brand includes:
– Symbol- It symbolizes or stands for
something (carries a meaning behind) e.g.
packaging design, logo etc.
– Word- facilitates communication &
identification
– Object- relates with a given product
category (e.g. Kodak, BMW etc.)
24/10/2013

Prepared by Temesgen B. (PhD)

Continued…
• Idea or Concept- It shall be related more
with the product concept not a single
product because brands endure but
products would not (e.g. Coke with the
concept of refreshment, Sheraton with
luxury etc.)

24/10/2013

Prepared by Temesgen B. (PhD)

Continued…
• Product vs. Brand
– A product is anything that can be offered to
market to satisfy customers’ needs.
• Mostly, a physical entity

– A brand is the perception customers have as
a result of marketer’s positioning effort
about a distinguishable offer
• A perceptual entity

24/10/2013

Prepared by Temesgen B. (PhD)

Continued…
 Brand Perspectives
1) Visual/Verbal perspective
Brands are distinguishable name, logo,
trade mark, packaging design, that
identify or differentiate a given...
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