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Premium member Presentation Transcript Choosing Brand Elements To Build Brand Equity : Choosing Brand Elements To Build Brand Equity MODUE 3 Mohan.N MBA _PES, PGDOMS Mandya INTRODUCTION TO BRAND ELEMENTS : INTRODUCTION TO BRAND ELEMENTS BRAND ELEMENTS: It is a brand identities awareness & trade mark device that serve to identify & differentiate the brand. Than What is a Brand name ? Brand name is the name that a manufacturer applies to a product or a service. It is one of the main element of a brand that helps the customers identify a brand & diffentiate it from the other. Ex: Bata, Liberty, Levise , woodlands.etc. Criteria for choosing Brand Elements: There are 6 main criteria for choosing brand elements, The first 3 are -1. Memorable,2.Meaningfullness 3.Likable –are “Brand Building" The last 3 are – 4. Transferable, 5. Adaptable,6.Protectable –are “Defensive devise”Criteria for choosing brands Elements: Criteria for choosing brands Elements MEMORABILITY: A necessary condition for building brand equity is achieving a high level of brand awareness. Ex: Nano car MEANINGFULNESS: Choosing brand elements to build awareness, brand elements can also be chosen whose inherent meaning enhance the formation of brand associations. Brand elements may take on all kinds of meaning, varying in descriptive, as well as persuasive, content. LIKABILITY : Independent of the product or service, how much would consumers like the brand elements.PowerPoint Presentation: TRANSFERABILITY : The forth general criterion concerns the transferability of the brand element- in the both a product category and geographic sense. ADAPTABITITY : The more adoptable and flexible the brand element, the easier it is to update it. For example, logos and characters can be given a new looking or a new design to make them appear more modern and relevant. PROTECTABILITY : Brand element is protectable-both in a legal and competitive sense. In term of legal considerations, it is important to1.choose brand elements that can be legally protected on an international basis, 2.formally register them with the appropriate legal bodies, and 3. Vigorously defend trademarks from unauthorized competitive infringement.TACTICS FOR BRAND ELEMENTS: TACTICS FOR BRAND ELEMENTS Brand Names Logos & symbols Slogans URL’s Characters Jingles PackagingPowerPoint Presentation: Brand Name: Brand name is the name that a manufacturer applies to a product or a service. It is one of the main element of a brand that helps the customers identify a brand & diffentiate it from the other. NAMING GUIDELINES: Selecting a brand name for a new product is certainly an art and a science. As with any brand element, brand element, brand names must be chosen with the six general criteria in mind. A good Brand Name Should Be protected under Trademark Should be easy to pronouncePowerPoint Presentation: Should be easy to Recognize. Attract Attention Suggest Product Benefit Or suggest Usage Suggest Company's Image. Brand Awareness: In general, it is believed that brand awareness is spreading knowldge to an extent to which brand names are chosen that are simple and easy to pronounce or spell; familiar and meaningful; and different, distinctive, and unusual .Ex: over the years Chevrolet cars have also become known as “Chevy,” Budweiser beer has also become known as “Bud,” and Coca-Cola has also become known as “Coke.”PowerPoint Presentation: Brand Associations: The brand name may be chosen to reinforce and important attribute or benefit association that makes up its product positioning. Ex: HUL is Associated with Many company’s In there brand name. NAMING PROCEDURE: For developing brand names can be seen as basically adopting a procedure something along the following lines Define Objectives: It is particularly important to define the ideal meaning that the brand should take. It is also necessary to recognize the role of the brand within the corporate branding hierarchy and how the brand should relate to other brands and products.PowerPoint Presentation: Generate Names: Any potential source of names can be used: company management and employees; existing or potential customers; ad agencies, professional name consultants, or specialized computer-based naming companies; and so on. Tens, hundreds, or even thousands of names may result from this step. Screen Initial Candidates: The names must be screened based on the branding objectives and marketing considerations identified in step 1, as well as just common sense, to produce a more manageable list. For example, General Mills starts by eliminating the following: * Name that have unintentional double meaning * Name that are patently unpronounceable, already in use, or too close to an existing name *Name that have obvious legal complications * Name that represent an obvious contradiction of the positioning.PowerPoint Presentation: Study Candidate name: Before spending large amounts of money on consumer research, it is usually advisable to do an extensive international legal search. Research the Final Candidates: Often Research conducted to confirm management expectations as to the memorable and meaningfulness of the names. Consumer testing can take all forms. Many firms attempt to simulate the actual marketing program for the brand and consumer’s likely purchase experiences as much as possible. Select Final Name: based on all of the information collected from the previous step, mgt. can choose the name that maximize the firm’s branding and marketing objectives and then formally register the name.PowerPoint Presentation: URL (Uniform Resource Locator): used to specify location of pages on the web, are also commonly referred to as domain names. Anyone wishing to own a specific URL must register and pay for the name with a service such as register.com. Logos and symbols: It is a Graphical element that forms a trademark or commercial brand. A logo is design immediate Recognition . Symbols: It is a communication tool a brand that is designed for immediate recognition of the brand ,Ex: Barcadi Logo is BAT, UB symbol is King fisher Bird.PowerPoint Presentation: CHARACTERS: Characters represent a special type of brand symbol- one that takes on human or real life characteristics. Brand characters typically introduced through advertising and can play central role in these and subsequent ad campaign and package designs. Like other brand elements brand characters come in many different forms, some brand characters are animated(e.g., Pillsbury’s Poppin ’ fresh doughboy, the keebler Elves, and numerous cereal characters such as Tony the tiger, toucan Sam, and cap’n , whereas others are live-action figures (e.g., the Marlboro Cowboy, the Maytag Repairman, or Mc DonaldPowerPoint Presentation: Slogans : Slogans are short phrases that communicate descriptive or persuasive information about the brand. Slogans often appear in advertising but can play an important role on packaging and in other aspects of the marketing program. Eg : Big Bazaar: “ Isse sasta aur achcha kahin nahi”.Apple : “ Think Different”. Jingles: Jingles are musical messages written around the brand.Jingles can be thought of as extended musical slogans and in that sense can be classified as a brand element. Packaging: Packaging involves the activities of designing and producing containers or wrappers for a product. Like other brand elements, packages have along historyPowerPoint Presentation: From the perspective of both the firm and consumers, packaging must achieve a number of objectives: Identify the brand Convey descriptive and persuasive information Facilitate product transportation and protection Assist – at home storage Aid product consumptionLeveraging Brand Knowledge: Leveraging Brand Knowledge Meaning of brand knowledge: It refers to the knowledge that a consumer has over the brand, Brand knowledge refers to brand awareness. It measures a “customer mind set” because to capture how the brand is perceived in the customers mind. Leveraging pyramid:Leveraging Product Life cycle: Leveraging Product Life cycleDimensions of brand Knowledge: Dimensions of brand Knowledge Brand knowledge can be characterized in terms of two components, 1. Brand Awareness 2.Brand image Brand Awareness: It relates to strength of the brand or trace in the memory as reflected by consumers ability to identify the brand under different conditions. it consist of brand recognition & brand performance.Brand Awareness is every where: Brand Awareness is every whereConsequence of brand Awareness: Consequence of brand Awareness Brand awareness plays imp role in consumers Decision making like. 1.Learning Advantage 2.Consideration Advantages 3.Coice Advantages 4.Consumer Purchase Motivation 5.Consumer purchase AbilityPowerPoint Presentation: Learning Advantages: Brand Awareness affect consumers Decision making is by influencing the formation & strength of Brand Associations that makes up the brand image. Consideration Advantages: Consumers thinking is consider the brand whenever they are making a purchase for which the brand could potentially be accepted. Choice Advantages: The awareness Can affect Choice among Brands in the consideration set, Consumer Purchase Motivation: Tv advertisement can motivate a consumers to go for brand purchase.Establishing Brand Awareness: Establishing Brand Awareness 1.Repeated Exposure 2.Develop a slogans or Jingle 3.Strong Category Associations 4.Shock AdvertisingLeveraging Secondary Brand Knowledge: Leveraging Secondary Brand KnowledgeConceptualizing the leverage Process: Conceptualizing the leverage Process 1. Creation Of new Brand Association: By making a connection B/W The Brand & another Entity, Consumers may form a mental Associations from The brand to this other entity & consequently. 2. Effects on Existing Brands Knowledge: Linking The Brand to some other entity may create new brand association to the entity but may also affect existing brand. 3. Awareness & Knowledge of The Entity 4.Meaningfulness of knowledge of the Entity 5.Transferability of the knowledge of the EntityMeans of Leveraging Brand Equity: Means of Leveraging Brand Equity 1.Company 2.Country of origin & other Geographic Areas 3.Channels Of Distributions 4.Co-Branding A. Ingredients Branding B. Co-operative Branding C. Complementary Branding 5.Licensing 6.Celebrity Endorsement 7.Sporting Cultural or other Events 8.Third- Party Source You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.