Академический Документы
Профессиональный Документы
Культура Документы
and wants so that the offering (brand) could satisfy their mutual aspirations.
Branding can be viewed as a tool to position a product or a service with a consistent image of quality and value for money to ensure the development of a recurring preference by the consumer.
Branding
can be used as a differentiation strategy. In terms of tangible features or products which are perceived as a commodity .
Aaker (1991), Keller (1998), Kotler (1994) and Lovelock (1999) defined brand as a
way to attract and keep customers by promoting value, image, prestige or lifestyle. Brands can also reduce the risk a consumer faces when buying something that he knows little about. Peter Doyle has classified this development of brand management in the following six areas:
A
Stage
1 Unbranded Goods: Goods treated as commodities and are not branded. 2 Brand as Reference or Awareness: Competitive pressures stimulate producers to differentiate their goods from others. Once a brand satisfies the consumer he begins to use the same brand and develops some ideas or thoughts and perceptions about that brand.
Stage
Stage
Stage
4: Brand as a icon or an identity: In this stage brand is owned by consumers they have extensive knowledge about the brand and use it to create their self- identity.
Stage
5: Brand as a position:
The brand has a complex identity and a interaction with the consumer. In this stage, consumer becomes more actively involved in the brand creation process. They are willing to interact with the product or service in order to create additional value.
Stage
6: Brand as a policy:
Brand which is distinguished by an alignment of the company with ethical, social and political causes. Consumers commit to the firms that support the causes favoured by the company by purchasing from the firm. Through their commitment, consumers own the brand.
INITIAL STEP Highlight distinct benefits like contents, design etc. Exceptional handling Efficient packaging Innovative promotion, communication Use channel and ensure push
ONGOING ACTIONS Use the tangibles or positioning to create an identity. Loyalty development programmes Retain customer interest by repeated communication Develop customer pull by different marketing mix.
brand owner tries to retain customers to its fold over their competitors by a mix of hardware and software because when a customer feels satisfied he/ she develops a loyalty for the same.
The
brand aims to segment the market Starts with a big idea Tries to protect your innovation Is a living memory Shall sustain though the product may die.
A
Case
Ltd. When Dr. Batras positive Health Clinic Ltd. (DBPHCL) started, they were the only brand commercializing homoeopathy. Case of Navratna Oil
E.g. Ideas
which were successfully converted to products or services and due to their uniqueness and usefulness are setting new brands. They are not only motivating but a great learning incentive too. Image 8 Image 9 Image 10
Brand Identity
Brand Communication
Brand Image
Awareness
Brand Personality
Positioning
BRAND EQUITY
Company
decides the brand identity and brand personality which through brand communication leads to brand awareness and brand positioning in the customers mind which at the point of purchase leads to brand equity.
Brand
identity of a company is reflected by its logos, symbols, slogans, signs, icons etc. can be seen as a person, product, an organization and as a symbol perspective.
Brand
The
set of beliefs held about a particular brand. Set of associations, usually organized in some meaningful way.
feedback on the products and most important the use of the product or services evokes images or perceptions of the brand in the customers mind.
Set
of human characteristics associated with the brand. Symbolic use of a brand is possible because customer often instill brands with human personality traits.
and Recall of brand. Strength of the awareness of brand. Brand awareness is depends upon brand identity and brand personality.
Recognition
Top of mind awareness Higher position of the brand in mind Higher purchase intention and the higher relative
Create
a distinct space in the consumers mind generally termed Positioning. strong position is always built upon consumer associations with the brand; that is, a position that reflects how the brand is perceived in relation to competitors.
It
comprises a set of various assets, which provide value to both firm and customer. This set of assets includes brand awareness which demonstrates the strength of a brands presence in the customers mind.