Part – 7

Building Brands

MATHISHA HEWAVITHARANA

MBA (Col),BBA Sp.Mktng (Col), PPG DIP. In Mktng (UK), MCIM (UK), Chartered

Marketer (UK), Practicing Marketer (SL), ACMA, CGMA CIMA (UK), DBF (IBSL),

AIB (IBSL), MSLIM(SL),

Head of Branches - Siyapatha Finance PLC

Resource Person

Chapter Contents

• Branding

• Measuring & Managing Brand Equity

• Branding Strategy

• Global Marketing

• Global Marketing Strategies

What is a Brand

A brand is 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.

What is a Brand

• The process involved in creating a unique name and image for a product in the consumers' mind, mainly through advertising campaigns with a consistent theme.

• Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.

Brand Equity

Brand equity reflects the

“Value of a Brand”.

A well Established & a Known Brand will definitely give a Competitive Advantage for the product in that Market

by Gaining more Market Preference & Earning Capacity.

Brand Resonance Pyramid

Brand Resonance Model views brand building as an ascending, sequential series of steps, from bottom to top.

Brand Resonance Pyramid

BRAND EQUITY

will be Created as a result of Reaching the Top of the Pyramid;

Brand Dynamics Pyramid

Brand Characteristics / Attributes

1) Brand Awareness

2) Brand Positioning

3) Brand Identity

4) Brand Personality

5) Brand Association

6) Brand experience

7) Brand Consistency

8) Brand Welfare

9) Brand Relevancy

10) Brand Credibility

11) Brand Inspiration

12) Brand Uniqueness

Brand Awareness

Extent to which a Brand is recognized by potential

Customers / Stakeholders, and is correctly Associated

with a particular product.

Brand Awareness is Expressed usually as a percentage

of the target Market, brand awareness is the

Fundamental goal of Advertising and Marketing

Communication in the early stages or years of a

product’s introduction.

Brand Positioning

“ Act of Designing the Company’s Offer and image

so that it occupies a distinct and values place in the

Target Customer’s Mind”

Brand Identity

The visible Elements of a Brand (such as Colours,

Design, Logo, name, Symbols) that together identify and

distinguish the brand in the consumers mind.

Brand Personality

“Brand personality is the way a brand speaks and behaves. It means assigning human personality traits/characteristics to a brand so as to achieve differentiation. Brand personality is nothing but personification of brand. Every Brand has its own brand personality”.

Brand Association

“Brand Associations are images and symbols associated with a brand or a brand benefit”.

“Brand association is anything which is deep seated in customer’s mind about the brand”.

Brand Experience

“A brand experience is a brand’s action perceived by a person. Every interaction between an individual and a tangible or intangible brand touch points can be seen as a brand experience”.Simply Brand Experience can be defined as all the points of contact with a brand. This may include;

a) Product Performanceyou get the brand experience by your self

a) How our Known Parties Feel about the Brandyou get the brand experience by others

Brand Consistency

“When a company maintains the same message over time, its brand develops meaning and becomes ingrained in people’s memories. Brand consistency ensures that people come to know a brand by

one name or "face" and are thus more likely to remember it when it comes time to buy products in the brand's category. ”.

Brand Welfare

“In Brand Welfare, future welfare of the brand is assured with aligning the Brand with something preferred by the customer which will facilitate in maintaining the desired Brand Image in long-run ”.

Brand Relevancy

“Brand must meet the expectations of people and it should perform the way people need it to be”

Brand Credibility

“Brand should deliver it’s promises. Brand communications should convey a realistic message which ensures that those promises can be delivered”

Brand Inspiration

“Brand should inspire the target market via its communication and performance”

Brand Inspiration

“Brand should be unique and unmatched by other alternatives in the market”

Branding Strategies

1) Line Extension

2) Brand Extension

3) Multi Brands

4) Co-Brands

5) New Brands

Branding Strategies

Line Extension

This is using the existing brand to create different brands of the

same product by changing the aspects like colour, size or

shape. Family branding continues to be the favored branding

approach for service branding.

Branding Strategies

Brand Extension

This is the strategy of using the same brand name to enter into

different product types.

Branding Strategies

Multi Brands

This is the strategy of operating different brands under different

names by the same company in the same market.

Branding Strategies

Co-Brands

This is the strategy of developing a particular brand by

combining two different attributes to generate a different value

and to create a competitive advantage.

Branding Strategies

New Brands

This is the strategy of introducing / launching a new brand in

order to close a prevailing market gap. Each product of the

organization will be given a new brand name.

Celebrity Endorsement Branding

• Celebrity Branding or celebrity endorsement is a form of advertising or marketing strategy used by organizations which involves celebrities or a well-known person using their social / public status to help promote a product under the assumption that the positive images of the celebrity endorser will also be passed on to the product / Brand.

• The public personality of the used celebrity must depict similar values / Status to the Brand personality and values.

• Matching Celebrity Vs Brand Personality /

Values

• Mass Market Acceptability of the Celebrity

• Consistency and Long Term Commitment

• Possibility of Unique Endorsements

• Timing of Selection & Replacement

• Trade Mark & Regulatory Considerations

Celebrity Endorsement Branding

Factors to be Considered

Advantages of Branding

1) To create differentiation between products and services

2) To generate a competitive advantage in the market

3) The lifetime of a product can be extended by branding

4) Branding will help the organization to develop a proper

positioning strategy

5) A proper branding strategy will improve the profit margins of

the organization

6) To facilitate self-selection of products

7) To create brand loyalty

Challenges of Branding

1) The management time, effort and cost involved in building

a brand

2) A failure of a particular brand may badly influence the other

performing brands as well.

3) Changes in the environment may influence the level of

importance of a particular brand

4) Branding can lead to over pricing

5) Branding may create an artificial value to the business

Chapter Contents

• Branding

• Measuring & Managing Brand Equity

• Branding Strategy

• Global Marketing

• Global Marketing Strategies

Thank You !

0773 – 29 20 29

mathihewa@yahoo.com