What is brand

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Information about What is brand
Business & Mgmt

Published on March 14, 2014

Author: usmanalishancomuk

Source: slideshare.net

Description

 A brand is a name given to a product and/or service such that it takes on an identity by itself. 

 In today's marketplace teeming with thousands of products and services, all of which are being rapidly discommoded, a brand stands out from the clutter and attracts attention. 

Student of BBA Hons 5th semester Registration number is NI-F13-BBA-00528

  A brand is a name given to a product and/or service such that it takes on an identity by itself.   In today's marketplace teeming with thousands of products and services, all of which are being rapidly commoditized, a brand stands out from the clutter and attracts attention. 

Advertisements containing consistent messaging Recommendations from friends, family members or colleagues Interactions with a company and its representatives Real-life experiences using a product or service (generally considered the most important element of establishing a brand)

•Microsoft •Ferrari •Sony •The Gap and Nokia •A modern example of a brand is Coca Cola which belongs to the Coca-Cola Company. Legal protection given to a brand name is called a trademark.

 Build Customer Awareness  Create and stand for loyalty  Trust  Faith  Create a variety in brand  Increase a quality of brand  Quantity of brand  Increase a Value of brand

Brand manager have four options of sponsoring the brand. They are .Manufacturer brand .Private brand .Licensing .Co- branding Manufacturer brand : The brand owned by manufacturer and promoted either directly or indirectly. This type of strategy is followed from years. Pillsbury Atta is the manufacturer brand.  Private brand : Private brands are also called as store brands. These brands bearing the store name or store selected vendor name. Basic ingredients of private labels. Like imtiaz super mall have own product with a name of panama

Brand licensing : It is the legal authorization by the trade marked brand owner to allow another company to use its brand for a fee. For example, Hugo boss, Tommy Hilfiger, The major benefits of brand licensing are low cost, free publicity and revenue from royalty fees.  Co- Branding: According to Kotler co- branding is ‘the practice of using the established brand names of two different companies on the same product’. For example, ICICI and HPCL came together to sell ICICI- HPCL petro cards to the customer.  Both companies promote these products. Hence they can leverage brand image and can reduce the cost.

Brand licensing : It is the legal authorization by the trade marked brand owner to allow another company to use its brand for a fee. For example, Hugo boss, Tommy Hilfiger, The major benefits of brand licensing are low cost, free publicity and revenue from royalty fees.  Co- Branding: According to Kotler co- branding is ‘the practice of using the established brand names of two different companies on the same product’. For example, ICICI and HPCL came together to sell ICICI- HPCL petro cards to the customer.  Both companies promote these products. Hence they can leverage brand image and can reduce the cost.

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