Branding - Students' Notes PDF

BRANDING  BRANDING is a marketing practice in which a company creates a name, symbol, or design that is easily identifiable as belonging to the company.  Question: Why is it important for a product to have a brand name? What do you think will happen if a product...

BRANDING  BRANDING is a marketing practice in which a company creates a name, symbol, or design that is easily identifiable as belonging to the company.  Question: Why is it important for a product to have a brand name? What do you think will happen if a product does not have a brand name?  BRANDING Way to distinguish your product from competitors’ and clarify what your company offers that makes it a better choice Allows customers to know what to expect from your company Makes memorable impression on consumers It represents who you are as a business, and how you want to be perceived  BRANDING Effective branding can result in higher sales of not only one product, but of other products associated with that brand.  BRAND NAME A brand name, according to Nordquist (2019), is a name given by an entrepreneur to a particular product or service to identify and set it apart from other comparable products.  BRAND NAME May include words, tag lines, signs, symbols, logo, designs or a combination of these elements.  BRAND NAME A brand is the core value or promise of what will be delivered to or experienced by the customer. It creates associations and expectations amongst customers for products made by a company.  BRAND ELEMENTS 1. NAME- Your brand name defines everything in one (or a few) words.  BRAND ELEMENTS 2. LOGO a symbol or design used to identify a company as well as its products or services generally involves symbols, stylized text or both.  BRAND ELEMENTS 3. BRAND COLOR Feeling a certain way when associating with a specific color is a universal trait. Certain colors mean certain things, that's just how it is.  BRAND ELEMENTSC 4. TAG LINE This catchy phrase quickly defines your brand’s position in a handful of words. It should be memorable, easy to say, and match your brand’s personality.  BRAND ELEMENTS 5. CHARACTER  BRAND ELEMENTS 6. SHAPE - product design BRAND ELEMENTS CHARACTERISTICS OF AN IDEAL BRAND NAME SHORT AND SIMPLE EASY TO SPELL & READ EASY TO RECOGNIZE & REMEMBER SUGGEST PRODUCT BENEFITS DISTINCTIVE LEGALLY AVAILABLE FOR YOU  TYPES OF BRAND NAMES 1. ACRONYM brand name Ex: IBM, BMW 2. Geographical brand name Ex: Cebu Pacific Air  TYPES OF BRAND NAMES 3. Descriptive brand names are describing the offer by a company Ex: Burger King 4. Evocative brand names Unique, brings strong images & feelings to mind Ex: Apple, Nike  TYPES OF BRAND NAMES 4. Lexical brand names use playful wording to form company names. You can mix different words up and spell words the wrong way use a mix of Greek or Latin words to form your brand name  TYPES OF BRAND NAMES 5. Founder brand names Ex: Ford  BRAND IDENTITY is your business’ personality, what your brand says, what your values are, and what you want people to feel when they interact with your company BRAND IDENTITY 1. A brand has its own personality Mcdonald is family oriented, genuine, wholesome, cheerful, fun personality 2. A brand has emotional benefits kids fun , Feeling of special family times, link to family events and experiences reinforced by emotional advertising 3. Symbol Golden arches and Ronald Mcdonald’s - symbolize stability, a place where customers can relax and enjoy a burger BRAND IDENTITY Coca-cola’s identity begins with a red logo in script text. The red color elicits confidence in a person who drinks Coke while the script is all about enjoyment. BRAND IDENTITY Coca-Cola prints its logo in a uniquely shape bottle, which means it’s the real thing.  Question: How can a company create and build a strong brand? Customer’s real life Interactions with a Word of mouth Promotion experiences with company and its recommendations the product representatives  BRANDING STRATEGY is a continuing plan for the expansion of a successful brand in order to achieve the organization’s goals (Callis, 2018).  DIFFERENT BRANDING APPROACHES UMBRELLA HOUSE BRANDING BRAND BRAND EXTENSION APPROACH APPROACH STRATEGY LINE PRODUCT EXTENSION EXTENSION APPROACH APPROACH  1. UMBRELLA BRAND APPROACH refers to a marketing practice APPROACHES that involves selling numerous BRANDING DIFFERENT associated products under the name of a single brand.  APPROACH 1. UMBRELLA BRAND DIFFERENT BRANDING APPROACHES  2. HOUSE BRAND APPROACH This is an approach APPROACHES BRANDING DIFFERENT wherein every product of the same company has individual branding that distinguishes itself from others.  APPROACH 2. HOUSE BRAND DIFFERENT BRANDING APPROACHES  3. BRANDING EXTENSION STRATEGY This is a marketing strategy APPROACHES wherein the organization that BRANDING DIFFERENT sells a product or service with a strong image uses the same brand name but in a different category.  3. BRANDING EXTENSION STRATEGY a. Line extension approach APPROACHES This involves adding new BRANDING DIFFERENT features to existing products, rather than developing completely new products.  3. BRANDING EXTENSION STRATEGY APPROACHES BRANDING DIFFERENT  3. BRANDING EXTENSION STRATEGY b. Product extension approach APPROACHES This is the strategy of placing BRANDING DIFFERENT an established product’s brand name on a new product that is in new category.  3. BRANDING EXTENSION STRATEGY APPROACHES BRANDING DIFFERENT “The Veggie Temptation: Your Taste Buds Beg for More!”  APPLICATION: Make your own brand name, logo and tagline for the business your group will implement during Entrepreneurship week. Use a short bond paper. [Name] [Date of Submission: _____] [Section] [Group #] Proposed business idea: _____ Brand Logo Tagline: ____________ CRITERIA 4 3 2 1 ATTRACTIVENESS The overall Overall graphic Colors, The colors or appearance balance and backgrounds, background are of logo is organization of and/or text are too busy which pleasing. the logo is not used makes the text Titles, text, acceptable. effectively, but hard to read. colors, and There is an are readable. There is one few graphics are appropriate Icons and other icons or exemplary. balance of easy graphical graphical to read titles, elements don’t elements. The text, colors, and seem to serve logo is not graphics. any useful attractive purpose other than for decoration. The logo is unattractive and distracting. CRITERIA 4 3 2 1 LAYOUT/DESIGN There is There is There is little There is no unity and adequate unity and unity or consistenc unity but consistency consistency y among some among the among text text and inconsisten text and and graphic graphic cy among graphic elements elements. text and elements. Text and graphic graphic elements. elements are arranged. CRITERIA 4 3 2 1 COMPLETENESS The The student The student The student student completed completed 1/2 completed complete ¾ of the of the less than 1/2 d the assignment assignment. of the assignme. assignment. nt. CRITERIA 4 3 2 1 CONTENT/ORIGI The Design is Design is The logo NALITY design is original but similar in looks like it unique similar in several ways has been and one way to to another copied from original. another logo. Student someone The logo. appears to else or student Student can have somewhere can recognize a recognized a else. Student recognize logo and logo and some can describe a logo and the of the something the elements elements that about a logo elements that make make up a but can not that make up a logo. logo. be sure of