Brand - The Marketing Strategy

A name, term, sigh, symbol or design or combination of them, intended to identify the goods or services of one seller and to differentiate them from those of the competitors

Branding

Brand tracking - collection of brand based information from customers on a routine basis

Brand valuation- estimating  the total financial value of the brand

Brand reinforcement - Reinforcing the values of a existing brand to generate loyalty

Brand revitalization - return to roots or generate new sources of brand equity

Brand Audit

1)   It is a consumer focused exercise  that involves a series of procedures to assess the health of the brand, uncover its sources of brand equity an suggest ways to improve and leverage its equity

2)   Brand inventory – comprehensive profile of how all the products and services sold by a company are marketed and branded

3)   Brand exploratory : Research activity conducted to understand what consumers think and feel about the brand and its corresponding product category to identify sources of brand equity

Branding Strategy

In case of new product

1)   new brand elements

2)   apply existing brand elements

3)   use combination of new and old brand elements

Brand extension - established brand is used to launch a new product which is also called sub brand

Branding Strategy

Established brand is known as parent brand an if it is associated with multiple brands it is family brand

Brand extension is of two types

1)   line extension – parent brand is used to launch new product that targets new market segment within same product category

2)   category extension – parent brand is used to enter a different product category from currently served by parent band

Brand Portfolio

Set of all brands and brand lines a firm offers for sale to buyer in a particular  category

Types

1)  Flankers - fighter or defense brands positioned with respect to rivals’ brands

2)   Cash cows - strong brands with dwindling sales

3)   Low end entry level

4)     High end prestige.