Assignment

Brands
Rajinder Singh

Submitted to Prof. S.K. Chada

March 31

Assignment

2012
Brands
Submitted to Prof. S.K. Chada

Submitted by Rajinder Singh MBA(HR)

Brands
The American Marketing Association defines a brand as a "Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers." A brand is thus a product or service whose dimensions differentiate it in some ways from other products or services designed to satisfy the same need. A brand can take many forms, including a name, sign, symbol,color combination or slogan. For example, Coca Cola is the name of a brand make by a particular company. The word branding began simply as a way to tell one person's cattle from another by means of a hot iron stamp. The word brand has continued to evolve to encompass identityit affects the personality of a product, company or service. It is defined by a perception, good or bad, that your customers or prospects have about you

History
The word "brand" is derived from the Old Norse brandr meaning "to burn." It refers to the practice of producers burning their mark (or brand) onto their products.The Italians were among the first to use brands, in the form of watermarks on paper in the 1200s. Although connected with the history of trademarks[30] and including earlier examples which could be deemed "protobrands" (such as the marketing puns of the "Vesuvinum" wine jars found at Pompeii),[31] brands in the field of mass-marketing originated in the 19th century with the advent of packaged goods. Industrialization moved the production of many household items, such as soap, from local communities to centralized factories. When shipping their items, the factories would literally brand their logo or insignia on the barrels used, extending the meaning of "brand" to that of trademark. Bass & Company, the British brewery, claims their red triangle brand was the world's first trademark. Lyles Golden Syrup makes a similar claim, having been named as Britain's oldest brand, with its green and gold packaging having remained almost unchanged since 1885. Another example comes from Antiche Fornaci Giorgi in Italy, whose bricks are stamped or carved with the same protologo since 1731, as found in Saint Peter's Basilica in Vatican City. Cattle were branded long before this. The term "maverick," originally meaning an unbranded calf, comes from Texas rancher Samuel Augustus Maverick whose neglected cattle often got loose and were rounded up by his neighbors. The word spread among cowboys and came to be applied to unbranded calves found out
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wandering alone. Even the signatures on paintings of famous artists like Leonardo Da Vinci can be viewed as an early branding tool. Factories established during the Industrial Revolution introduced mass-produced goods and needed to sell their products to a wider market, to customers previously familiar only with locally-produced goods. It quickly became apparent that a generic package of soap had difficulty competing with familiar, local products. The packaged goods manufacturers needed to convince the market that the public could place just as much trust in the non-local product. Campbell soup, Coca-Cola, Juicy Fruit gum, Aunt Jemima, and Quaker Oats were among the first products to be 'branded', in an effort to increase the consumer's familiarity with their products. Many brands of that era, such as Uncle Ben's rice and Kellogg's breakfast cereal furnish illustrations of the problem. Around 1900, James Walter Thompson published a house ad explaining trademark advertising. This was an early commercial explanation of what we now know as branding. Companies soon adopted slogans, mascots, and jingles that began to appear on radio and early television. By the 1940s, manufacturers began to recognize the way in which consumers were developing relationships with their brands in a social/psychological/anthropological sense. From there, manufacturers quickly learned to build their brand's identity and personality (see brand identity and brand personality), such as youthfulness, fun or luxury. This began the practice we now know as "branding" today, where the consumers buy "the brand" instead of the product. This trend continued to the 1980s, and is now quantified in concepts such asbrand value and brand equity. Naomi Klein has described this development as "brand equity mania". In 1988, for example, Philip Morris purchased Kraft for six times what the company was worth on paper; it was felt that what they really purchased was its brand name. Marlboro Friday: April 2, 1993 - marked by some as the death of the brand - the day Philip Morris declared that they were cutting the price of Marlboro cigarettes by 20% in order to compete with bargain cigarettes. Marlboro cigarettes were noted at the time for their heavy advertising campaigns and well-nuanced brand image. In response to the announcement Wall street stocks nose-dived for a large number of branded companies: Heinz, Coca Cola, Quaker Oats, PepsiCo. Many thought the event signalled the beginning of a trend towards "brand blindness" (Klein 13), questioning the power of "brand value."

Brands as business assets

The value to businesses of owning strong brands is incontestable. Brands that keep their promise attract loyal buyers who will return to them at regular intervals. The benefit to the brand owner is that forecasting cash flows becomes easier, and it becomes possible to plan and manage the development of the business with greater confidence. Thus brands, with their ability to secure income, can be classed as productive assets in exactly the same way as any other, more traditional assets of a business (plant, equipment, cash, investments and so on). The asset value of brands is now widely recognized, not just by brand owners but by investors. Brands can generate high-quality earnings that can directly affect the overall performance of the business and thus influence the share price. Great brands are no accidents. They are a result of thoughtful and imaginative planning. Anyone building or managing a brand must carefully develop and implement creative brand strategies. To aid in that planning, three tools or models are helpful. Like the famous Russian nesting matrioshka dolls, the three models are inter-connected and become larger and increasing in scope: The first model is a component into the second model; the second model, in turn, is a component into the third model. Combined, the three models provide crucial micro and macroperspectives to successful brand building. Specifically, the three models are as follows, to be described in more detail below: 1. Brand positioning model describes how to establish competitive advantages in the minds of customers in the marketplace; 2. Brand resonance model describes how to create intense, activity loyalty relationships with customers; and 3. Brand value chain model describes how to trace the value creation process to better understand the financial impact of marketing expenditures and investments. Collectively, these three models help marketers devise branding strategies and tactics to maximize profits and long-term brand equity and track their progress along the way

Brand Positioning
A few final comments - First, a good brand positioning has a foot in the present and a foot in the future. It needs to be somewhat aspirational so that the brand has room to grow and improve. Second, a good positioning is careful to identify all relevant points-of-parity. Too often marketers concentrate only on areas of strength and ignore crucial areas where the brand is potentially disadvantaged. Finally, it is important a duality exists in the positioning of a brand such that there are rational and emotional components. In other words, a good positioning contains points-of-difference and points-of-parity that appeal both to the head and the hear What is Brand Awareness? The ultimate goal of most businesses is to increase sales and income. Ideally, you want to attract new customers to your products and encourage repeat purchases. Brand awareness refers to how aware customers and potential customers are of your business and its products. Within a week after its introduction, surveys found that more than 90% of US consumers had heard about the iPhone as a result of advertising and news reports. This is exceptionally high brand awareness. Ultimately, achieving successful brand awareness means that your brand is well known and is easily recognizable. Brand awareness is crucial to differentiating your product from other similar products and competitors. How to Begin Creating Brand Awareness How do you, over time, establish positive brand awareness that promotes the possibility of purchase of your product in the future? There is always the initial impression of your brand that is of utmost importance. Beyond this, however, are all of the future impressions that may be formed regarding your brand. In deciding how you will go about creating brand awareness, you need to consider and to be aware of how your product value becomes know to the consumer and the importance of consistency: 1) The message of what a brand is offering to the consumer should be consistent. Wegmans, for example, offers fresh, high-quality foods for purchase and advertises the advantages, such as home-cooked meals, that their goods can provide for you.
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The layout of their perishable goods, the organization of complementary condiments and staple products, and the stands offering sample recipes to be cooked at home are all evidence of the company attempting to present a consistent message of what they are all about to the consumer. The presentation of Wegmans as a prominent player in providing quality foods for quality home-cooked meals is evident in each of the aforementioned examples. The company does not, for example, attempt to convey quality in its store layout and offerings and then convey cheap alternative in the mailings sent out. The impressions you hope to make on consumers and potential consumers should be consistent across various mediums, situations, and promotional attempts. 2) Images you present should also be consistent in order to increase brand awareness. It is important that you are consistent in your use of images so that you maximize recognition and positive impressions. Wegmans logo, for example, can be found on its storefront, on the products it produces itself, on the receipt consumers receive after purchase, on the bags customers carry out of the store, and in many of its distributed informational material. 3) Slogans and taglines should also be consistent throughout mediums and material. Once again, consistency is important in conveying a message that promotes awareness of your brand in a organized, recognizable manner. Wegmans tagline, Helping you make great meals easy, is consistent throughout its promotional materials, website, and logo, to name a few. Consistency cannot be emphasized enough. It presents the consumer with an image that in the future the consumer can continue to associate with your products. For example, if the materials you distribute, the set-up of your sale table, the packaging of your product, and the logo and tagline are not all relatively similar, regularly consistent, and repeatedly recognizable over time, it is likely you will get nowhere with your brand. Creating brand awareness, through a collaborative, welldeveloped overall image, is essential to developing a success brand that achieves maximum benefits.

Referance;
http://www.marksherrington.com http://www.nnyagdev.org www.brandsoftheworld.com www.brandchannel.com en.wikipedia.org/wiki/Brand