Branding

Branding is a “promise delivered”, and to be successful, you must have to deliver the promise. Your brand is “only everything” within your company. As a result, it’s imperative to define what it stand for.

Branding is not about a particular brand or logo. It is a overall effect of logo ,tagline, technology, person or anything in company.

Types of Branding –

 1. Umbrella branding  2. Multiple branding  3. Co Branding

 4. Family branding   5. Individual Branding

Advantages of branding for seller

·         Seller’s brand name and trademark provide legal protection of unique product features

·         Branding gives the seller the opportunity to attract a loyal and profitable set of customers.

·         Branding helps the seller segment markets.

·         Strong brands help build corporate image, making it easier to launch new brands and gain acceptance by distributors and consumers.

Advantages of branding for customer

• Help buyers identify the product that they like/dislike.
• Identify marketer
• Helps reduce the time needed for purchase.
• Helps buyers evaluate quality of products especially if unable to judge a products characteristics.
• Helps reduce buyers perceived risk of purchase.
• Buyer may derive a psychological reward from owning the brand, IE Rolex or Mercedes.

Examples

A statement by Coca-Cola – one of the costliest brand in the world

   “If Coca-Cola were to lose all of its production-related assets in a disaster, the company would survive. By contrast, if all consumers were to have a sudden lapse of memory and forget everything related to Coca-Cola the company would go out of business.” 

 

 

• Brand value - $67,000 million
• Flagging appetite for soda has cut demand for Coke, but the beverage giant has a raft of new products in the pipeline that could reverse its recent slide.

McDonalds – Costliest brand in fast food industry

McDonalds sums this up nicely in the following quote emphasizing the importance of brands:

• “…it is not factories that make profits, but relationships with customers, and it is company and brand names which secure those relationships”

 

·         Brand value - $27,501 million

·     Based in U.S. A new healthy-living marketing campaign—and the premium-priced sandwiches and salads that came with it—have led to a fourth year of sales gains.