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Branding

Branding. Chap. 31.1. Importance of Branding. Build product recognition and loyalty Easily recognizable by satisfied customers. To ensure quality and consistency – Communicate quality and consistency to customers

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Branding

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  1. Branding Chap. 31.1

  2. Importance of Branding • Build product recognition and loyalty • Easily recognizable by satisfied customers. • To ensure quality and consistency – Communicate quality and consistency to customers • To capitalize on brand exposure – Helps when companies expand or launch new products.

  3. Elements of Branding • Brand – name, term, design, symbol or combination that identifies a product or service and distinguishes it from its competitors. • Brand name – Word, group of words, letters, or numbers that represent a product or service. Ex. Pepsi, Mustang, Barbie, Pop-Tarts, Big Mac, Whopper.

  4. Elements of Branding • Trade name – Identifies and promotes company. Ex. Nike, Yahoo, Disney, Dell. • Brand Mark – Symbol, coloring, lettering, or other design element.

  5. Elements of Branding (Cont.) • Trade Character – Brand mark with human form or characteristics. Ex. Jolly Green Giant or Pillsbury Doughboy. • Trademark – word, name, symbol, etc. given federal legal protection. • http://www.pillsbury.com/AALL/default.aspx

  6. Generating Brand Names • 75% of companies introduce a new product every year. • In 1999, U.S. Patent and Trademark Office registered over 79,000 trademarks.

  7. Types of Brands • National Brands – Ex. Hershey Foods, Whirlpool and Ford. • Generate the majority of sales for most consumer product categories. • 70% of all food products, 65% of all appliances, 80% of all gasoline, and 100% of all automobiles. • Store brands – manufacturer’s name doesn’t appear on product. Popularity is increasing. • Generic brands – simply says “paper towels”

  8. Branding Strategies • Brand Extension – uses existing brand name to promote new brand. Ex. Ocean Spray expanded into new flavors. • Brand Licensing – Allows other companies to use their brand for a fee (royalty). Ex. Visa has licensing arrangement with the NFL.

  9. Branding Strategy • Mixed Brands – Company sells under its brand name and others regionally or through chains. • Co-Branding – Pop-Tarts with Smucker’s fruit filling or Starbuck’s in a Barnes & Noble.

  10. Just for fun • My video clip • Check out this website: http://www.pillsbury.com/AaLL/default.aspx

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