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MKTG 4321
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Brands  A Brand is a name, word(s), symbol, or design that identifies an organization and its products o Includes a company’s overall image and values – how it is perceived  Brand Identity consists of: o Brand Name o Logo &/or Symbol  Branding is the process of creating a brand image that engages the minds and hearts of customers o Brand Name: Puma Brand Logo/Symbol: Puma Cat Brand Identity: Both Trademarks:  A trade name is the legal name of a company o Coca-Cola Limited (trade name); Coke or Coca-Cola (brand names) o Reebok International Limited (trade name); Reebok (brand name)  When a brand name or trade name is registered, it also becomes a trademark  A trademark legally identifies ownership of a registered brand or trade name  A soundmark is a trademark identified by a sound that is associated with a company o i.e. the roaring lion a the start of an MGM film  A motionmark is a trademark identified by a specific movement associated with a company o Winged horse that leaps off the screen before a tri-star film  Other companies or individuals must pay a license fee or royalties to use any of these trademarks  Trademarks have a TM or R. beside them. Brand Personality:  A brand personality involves associating human traits to a brand o i.e. Nike as a ‘winning’ personality o IBM as ‘old’; Mac as ‘young’ and ‘friendly’  Develops overtime  Differentiates the brand and helps build brand value or equity Celebrities as Brands:  Celebrities are not just performers; they are also “brands” who have monetary and non- monetary value. o Lebron’s brand: loyal friendly ball player o Poor handling of free agency over the summer (2010) changes his image and brand drastically o New brand: selfish ‘traitor’? o Also affects the Nike Brand he endorses o Nike releases the “Rise” ad featuring Lebron Brand Loyalty:  Brand Loyalty: the psychology of preference; how faithful a customer is to a particular brand, regardless of pressure from competing brands o Willing to pass up other brands for the one they want most  Stages of Brand Loyalty: o 3. Insistence o 2. Preference Triangle From Top to Bottom o 1. Recognition  Recognition: o Consumers are aware of a brand and know something about it o BUT.. May not have had a personal experience with the brand o Example: I recognize Lacoste clothing, but haven’t ever bought the brand  Preference: o Customers would rather have a particular brand BUT will buy something else if it is not available o You may go out looking to buy a pair of Nike track pants, but will settle for Adidas if you can’t find it (or if it is cheaper)  Insistence: o Customers absolutely, positively want a particular brand, and ONLY that brand! o You won’t settle for anything else  A customer moves through the stages by having repeated, positive experiences with a particular brand  How does a company ensure repeat positive experiences? o Brand promise: consistently deliver on brand characteristics and values o FedEx - Your package will get there overnight. Guaranteed. Brands & Strategies:  There are three types of Brands: o Manufacturer Brands o Intermediary Brands o Generic Brands  Manufacturer Brands: o Owned by the producer of the product o Producer responsible for marketing the brand o Examples: HP, Apple, Sony, Adidas, Champion  Intermediary Brands: o Carries a name developed by the wholesaler or retailer o Sell manufacturer’s products under their own private labels o Examples: SportChek brand, FootLocker brand  Generic Brands: o Represent a general product category and does not carry a (recognized) company or brand name. It is non-destinctive. o Example: grocery store items o Not common in the sports industry o It is often inaccurate to describe these products as "lacking a brand name", as they usually are branded, albeit with either the brand of the store in which they are sold or a lesser-known brand name which may not be aggressively advertised to the public o Eg. Band-aids, Cheerios Brands Strategies:  Brands can be marketed using the following strategies: o Multi-Product Branding: the manufacturer uses one name for all its products o Multi-Branding – Each product in a product line has a distinctive name. o Co-Branding: combines one or more brands to increase customer loyalty and sales for each product.  Multi-Product Branding: o the manufacturer uses one name for all its products (eg. Nike) o Multiple products carry the same brand name (Nike for women & men, Nike shoes, Nike jerseys etc.) o Includes brand extension: using the existing brand name for an improved or new product in the product line  Multi-Branding o Each product in a product line has a distinctive name. o This strategy is used for products that target different consumers. o .. &/or to prevent competitors from taking market share (how?)  potential Cannibalization? o Proctor & Gamble (P&G)  Co-Branding o combines one or more brands to increase customer loyalty and sales for each product. o E.g. Visa co-branded with Aeroplan; other loyalty affiliations Strategy Advantages Disadvantages Multi-Product o The promotion of one item, o Can delete the effectiveness of the brand promotes the other name. When consumers see the brand name Branding o Efficiency of advertising money everywhere on many different types of o It facilitates acceptance of new products, they may not necessarily put the products by retailer and same faith in the brand as they once did consumer (dilute the image). o Creates further brand awareness o When you put your brand name on many o Easy for the consumer to different types of products, you eventually maintain brand loyalty may have a hard time managing them all
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