BRAND MANAGEMENT

1) Create a brand name for your choice of product by considering

brand name associations. Illustrate it.

Brand Name Associations

Whether you are naming a business or researching the perfect name, our proprietary qualitative and
proprietary quantitative research can pinpoint that one best brand name

About Brand

Tagline : Come chill and go

Industry : Health care

Core Products : People

Brand logo

logo design create a unique and eye-catchy logo which then becomes a crucial part of brand identity.

About brand name

An energetic name that promotes positivity and gratitude.

2) What factors to be considered  in brand positioning ? List out the
strategies used for brand positioning with examples.

Factors to be considered  in brand positioning

 Brand Attributes
 Consumer Expectations
 Competitor Attributes
 Price
 Consumer Perceptions

1. Brand Attributes

What the brand delivers through features and benefits to consumers.

2. Consumer Expectations

What consumers expect to receive from the brand.

3.  Competitor attributes

What the other brands in the market offer through features and benefits to consumers.

4.  Price

An easily quantifiable factor – Your prices vs. your competitors’ prices.

5.  Consumer perceptions

The perceived quality and value  of your brand in consumer’s minds (i.e., does your brand offer the cheap
solution, the good value for the money solution, the high-end, high-price tag solution, 
Strategies of brand positioning

Positioning by price/quality:

Marketers often use price/quality characteristics to position their brands. One way they do it is with ads
that reflect the image of a high-quality brand where cost, while not irrelevant, is considered secondary to
the quality benefits derived from using the brand. Premium brands positioned at the high end of the
market use this approach for positioning the product.

Positioning by product class:

Often the competition for a particular product comes from outside the product class. For example, airlines
know that while they compete with other airlines, trains and buses are also viable alternatives.
Manufacturers of music CDs must compete with the cassette industry. The product is positioned against
others that, while not exactly the same, provide the same class of benefits.

Positioning by product user:

Positioning a product by associating it with a particular user or group of users is yet another approach.
Motography Motorola Mobile, in this ad the persona of the user of the product has been positioned.

Positioning by competitor:

Competitors may be as important to positioning strategy as a firm’s own product or services. In today’s
market, an effective positioning strategy for a product or brand may focus on specific competitors.

Positioning by cultural symbols:

This is an additional positioning strategy wherein the cultural symbols are used to differentiate the brands.
Examples are Humara Bajaj, Tata Tea, and Ronald McDonald. Each of these symbols has successfully
differentiated the product it represents from competitors.

3) Write a detailed note on sources of brand identity and brand equity.

Sources of Brand Identity

 Symbol
 Logos
 Logotype
 Icon
 Slogan
 Trade marks
Symbols

 Symbols help customers memorize organization’s products and services. They help us correlate
positive attributes that bring us closer and make it convenient for us to purchase those products and
services.

Symbols emphasize our brand expectations and shape corporate images. Symbols become a key
component of brand equity and help in differentiating the brand characteristics.

Logos

A logo is a unique graphic or symbol that represents a company, product, service, or other entity. It
represents an organization very well and make the customers well-acquainted with the company.

The elements of a logo are:

Logotype - It can be a simple or expanded name. Examples of logotypes including only the name are
Kellogg’s, Hyatt, etc.

Icon - It is a name or visual symbol that communicates a market position. For example-LIC ’hands’, UTI
’kalash’.

Slogan - It is best way of conveying company’s message to the consumers. For instance- Nike’s slogan
“Just Do It”.

TRADEMARKS
 Trademark is a unique symbol, design, or any form of identification that helps people recognize a
brand. A renowned brand has a popular trademark and that helps consumers purchase quality products.
The goodwill of the dealer/maker of the product also enhances by use of trademark. Trademark totally
indicates the commercial source of product/service. Trademark name should be original. A trademark is
chosen by the following symbols:

™ (denotes unregistered trademark, that is, a mark used to promote or brand goods);
SM
 (denotes unregistered service mark)
® (denotes registered trademark).

Sources of brand equity

 Quantitative

 Qualitative

Quantitative

Free Association

Identify the range of possible brand associations in consumers’ minds in terms of

 Relative strength
 Favorability
 Uniqueness of brand associations

Projective Techniques

Diagnostic tools to uncover true opinions & feelings of consumers when they are unwilling/ unable to
express themselves

 Completion and Interpretation Tasks:

“Fill in the Bubble” approach for analysis.

 Comparison Tasks: Consumers convey their impressions by comparing brands to people,

countries,animals, activities etc.

Brand Personality and Values

Solicit open-ended responses to questions linking the brand to persons, animals & objects.
  A research project conducted in the U.S. reflected the following “Big 5” factors of brand
personality

 Sincerity
 Excitement
 Competence
 Sophistication
 Ruggedness

Qualitative

Awareness

Strength of the brand in memory & consumers’ ability to identify various brand elements.

 Recognition: consumers’ ability to identify the brand under different circumstances

 Recall: ‘Unaided recall’ -identification with minimal cues. ‘Aided recall’ uses various cues to
assist recall.

Image

Lower Level Consumer perceptions of specific performance and imagery attributes.

 Absolute or comparative
 Spatial or numerical
 Multidimensional scaling (MDS)
 Conjoint Analysis
 Perceptual Mapping

Brand Responses

Higher level considerations -judgments and feelings & combination withlower-level considerations

Purchase Intentions:

 Action - Buying for own use or as gift

 Target - Specific product or brand
 Context – Type of store based on prices
 Time - Within week/month/year

Brand Relationships

 Behavioral Loyalty
  Brand Substitutability: Higher the repeat purchases, greater the brand equity, and lesser the level
of brand substitutability.

4) Examine the merits and demerits of brand extension   with suitable

example.
Advantages of Brand Extension

Brand Extension has following advantages:

1. It makes acceptance of new product easy.

a. It increases brand image.
b. The risk perceived by the customers reduces.
c. Cost of developing new brand is saved.
d. Consumers can now seek for a variety.
e. There are packaging and labeling efficiencies.
f. The expense of introductory and follow up marketing programs is reduced.
2. There are feedback benefits to the parent brand and the organization.
a. The image of parent brand is enhanced.
b. It revives the brand.
c. It allows subsequent extension.
d. Brand meaning is clarified.
e. It increases market coverage as it brings new customers into brand franchise.
f. Customers associate original/core brand to new product, hence they also have quality
associations

Example :

 Wipro : which was originally into computers has extended into shampoo, powder, and soap.

Disadvantages of Brand Extension

1. Brand extension in unrelated markets may lead to loss of reliability if a brand name is extended
too far. An organization must research the product categories in which the established brand
name will work.
2. There is a risk that the new product may generate implications that damage the image of the
core/original brand.
3. There are chances of less awareness and trial because the management may not provide enough
investment for the introduction of new product assuming that the spin-off effects from the
original brand name will compensate.
 4. If the brand extensions have no advantage over competitive brands in the new category, then it
will fail.

Example :

 Coke

Coca Cola has forgotten what the core brand was meant to stand for. It thought that taste
was the only factor that consumer cared about. It was wrong. The time and money spent on
research on new Coca Cola could not evaluate the deep emotional attachment to the original
Coca- Cola.

5) Analyse the methods of brand valuation and how do you

build brands online?

Methods of brand valuation

Income based brand valuation methods

  Relief from royalty method: this brand valuation method is based on how much the brand
owner would have to pay to use its brand if it licensed the brand from a third party. It uses
discounted cash flow analysis (DCF) to capitalise future branded cash flows
 Capitalisation of historic profits method: the brand valuation method is based on the
capitalisation of profits earned by the brand.

Market based brand valuation methods

 P/E ratios method: the P/E (price to earnings) brand valuation method multiples the brand’s
profits by a multiple derived from similar transactions of profits to price paid based on the
value of reported brand values.
 Turnover multiples method: this brand valuation method multiplies the brand’s turnover by a
multiple derived from similar transactions.

Cost based brand valuation methods

 Creation costs method: this brand valuation methodology estimates the amount that has been
invested in creating the brand.
 Replacement value method: this brand valuation method estimates the investment required to
build a brand with a similar market position and share.

Building brands in online

1. Get to know your customers

Part of developing your online brand is getting to know who you want to sell to. you need to identify your
target audience. you might start with a more general description of your audience, but you need to narrow
it down as you go along.

2. Research
Imitation may be the sincerest form of flattery, but you don’t want to straight up imitate any other
company’s brand. you want to create something unique that will stand out from the rest. researching your
competitors is still a smart move, though.

As you look into what your closest competitors are doing, you’ll be able to find out where and how
they’re succeeding.

Your research should not only find out how competitors do things but also what customers have to say
about them.

3. Take a look at your product

This may seem like an obvious step, but it’s one you shouldn’t skip. now you might think to yourself, “Of
course I know my own product. I’m trying to sell it, aren’t I?, but this step is a good opportunity to really
examine what you’re selling.

Go beyond its surface qualities and really dig into what makes it special.

4. Drop a mission statement

Every business should have a mission statement. note that a mission statement is not a slogan or a motto.
A mission statement eloquently states what you hope to do. Every part of your company should reflect
that.

Some Examples of mission statement

Amazon: “To be Earth’s most customer-centric company where people can find and discover anything
they want to buy online.”

Starbucks: “To inspire and nurture the human spirit — one person, one cup and one neighborhood at a
time.”

5. Get a voice

You know your audience. You’re familiar with your product. You have a mission statement. now you
have to figure out how you communicate your ideas. For this step, you need to choose a brand voice.

6. Brand message

You’ll need to have a clear brand message ready to greet them. This is different from your brand mission
statement. In a sense, your brand message helps define what you and your product are. It should simply
state who are are, the kind of product you offer, and how it will benefit the customer. And it should do all
that in just a couple of sentences.

7. Design a logo

As mentioned before, your brand is more than a logo. But your logo is still important. Some of the most
widely recognized shapes and symbols are logos. It’s often the first thing we associate with a company.
Creating a logo is a chance to flex your creative muscles. It should reflect your brand and be a welcome
sight for your target audience.

8. Publish your brand in online

Now comes the time to build up your brand. This strategy should including promoting your brand through
a variety of channels and platforms. Get on social media and make sure your brand has its own channels.
Having Facebook, Twitter, and Instagram pages will allow you to engage with your audience. They’ll be
able to experience your online brand first hand. This helps establish your reputation and create
connections with potential customers.