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    Elements of A Brand

    Uploaded by

    Gaurav Kushwaha

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    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd

    Elements of A Brand

    Uploaded by

    Gaurav Kushwaha
    34 views3 pages

    Original Title

    Elements of a Brand

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    Copyright:

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    Download as docx, pdf, or txt
    34 views3 pages

    Elements of A Brand

    Uploaded by

    Gaurav Kushwaha

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Elements of a Brand

    Certain factors should be considered before selecting a brand name. They are as follows:

    1. Distinguish the product from competitive brands


    2. Memorable and easy to pronounce
    3. Easy to say, spell and pronounce
    4. It should allude to the product 
    5. Negative or offensive references should be avoided.
    6. Evoke positive mental image
    7. Evoke positive emotional reaction
    8. Suggest product function or benefits
    9. Simple
    10. Sound appropriate
    11. Be unique Possibly, translate well in other languages too.

    LOGO

    The company logo is the cornerstone of the firm's branding elements. For many firms the logo is the visual reminder
    of everything that the firm stands for. While a great logo won't necessarily build the firm, it plays a vital role in
    representing it. Conversely, a weak or confusing logo can detract from the value that the firm brings.
     
    Elements of a Good Logo:

    1. It has a lasting value - trendy logos don't hold up over time.


    2. It is distinct - some amount of uniqueness, as long as it doesn't confuse, is valuable.
    3. Appeals to your target market - if your target market is partial to blue then it doesn't matter that you're not.
    Supports your USP - If you are trying to communicate your low low prices then your logoshould support
    that image
    Legible - This seems pretty obvious but many people use typefaces and images that can't be printed or
    carried to a large sign. Your logo should clearly identify your company and it can't do that if people don't
    understand it.
    Nike, McDonald

    SLOGANS, JINGLES, CHARACTERS, AND PACKAGING

    Recognize the benefits of an effective jingle, slogan, character, and package design for a brand.  
    Use a slogan or jingle that i.e. audible to the ear and one which is catchy. - The Doodh Doodh Ad

    Types of Brands
    The functional dimension is the product’s attributes and benefits or the tangible propertieswhile the symbolic
    dimensions are the intangible aspects of the brand. A marketer can combine these two elements to create the ‘right’
    appeal for customers. In consumer behavior the rationaland emotional perspectives are two models that explain how
    consumers make purchase decisions. Successful branding, therefore, depends on combining the rational and
    emotional components of a brand in a manner that it becomes consistent with the consumer’s frame of mind.

    FUNCTIONAL BRANDS
    Here, the functional dimension of the brand is far more visible and appealing than the emotional
    or symbolic dimension.

    Nivea’s range of body products focuses on the functional benefit of smooth skin.

    Also, buying of a painkiller would be by and large a rational, left brain driven activity.
    Whatimplications does one have for marketers of Aspirin, Aspro, Anacin? Here the brand should
    be functions driven. That is, the brand essence should revolve around ‘reasons’ demonstrating
    product superiority in terms of its ingredients and efficiency of its pain relieving process (e.g.,
    the product “dissolves faster in water” and therefore, “relieves pain faster.”

    SYMBOLIC BRANDS

    Here, the symbolic or emotional dimension is more prevalent than the functional dimension. The
    decisions would be based on more of the emotional aspect than that of rational aspect.

    In the circumstances where consumer buying is emotions driven, the brand must accordingly


    focus on symbolic or emotional aspects.E.g. ICICI Prudential has various schemes concerning
    children’s futures; this also stresses on the emotional aspect, caring for the child and securinghis
    future.

    Brand Building Strategies


    Brand extensions often come in the forms of different product category introductions using a common name but
    emanating from a common expertise pool. This strategy is particularly true in Japanese countries.

    Brand Distinction:

    Many brands achieve distinction in the form of a unique brand attribute, benefit or feature, which
    gets uniquely associated with the brand. In such situations the company can work backwards to
    launch different products, which essentially cash in on this distinction. For example, Parachute
    may have the expertise of coconut nourishment in customers mind over time. This would give
    the company Marico the opportunity to launch a variety of products exploiting this distinction.

    Brand Image or Prestige:

    A brand extension may involve a foray in to unrelated product categories based on a brand’s


    exclusive image or prestige. Brand exclusivity or prestige bestows great extension opportunities.
    This is particularly true of designers and artist brands.

    UMBRELLA BRANDING

    This again is of the type ‘One brand all products’. An umbrella brand is a parent brand that
    appears on a number of products that may each have separate brand images. Firms have a short-
    run incentive to reduce quality and save costs, as consumers can only observe quality ex post.

    Videocon’s range of home appliances – air conditioners, refrigerators, televisions, washing


    machines, etc. Phillips also has a whole range of home appliances under the brand name Phillips-
    the mixers, irons, televisions, etc.
    Umbrella branding scored well on the dimension of economics. Investing in a single brand is less
    costly than trying to build a number of brands. By leveraging a common name across a variety of
    products, the brand distributes its investment. Hence umbrella branding works out to be an
    economical strategy. Using an umbrella brand to enter into new markets (Tata making a foray
    into the automobile car market) allows considerable savings. The brand bestows the
    newproduct advantages of brand awareness, associations and instant goodwill.

    One first explanation for brand extensions is that umbrella branding is a form of economies of


    scope, as it economizes on the costs of creating a new brand. Brands have an intrinsic value
    (status or otherwise) and are therefore like a “public good” in the sense that the more products
    are sold under the same brand the greater the total value created. A different perspective onbrand
    extensions is that, in a world where consumers are uncertain about productcharacteristics (due to
    horizontal or vertical differentiation), brands may play an informational role.  Umbrella
    branding may reduce uncertainty about a new product's attributes, a fact that increases value if
    consumers are risk averse. Considering these factors it can be said thatumbrella branding is a
    superior strategy when there is a significant overlap between the set of buyers of each of the
    firm's products. This result extends the well-known notion that brand extensions and umbrella
    branding are only successful if there is a good fit between the different products under the same
    umbrella.

    The main danger associated with umbrella branding is that since many products share the
    common name, a debacle in one product category may influence the products because of shared
    identity.

    ENDORSEMENT BRANDING

    Endorsement branding strategy is a modified version of double branding. It makes


    the productbrand name more significant and corporate brand name is relegated to a lesser status.
    Theumbrella brand is made to play an indirect role of passing on certain common generic
    associations. It is only mentioned as an endorsement to the product brand.  By and large, the
    brand seeks to stand on its own.

    The brand gets the endorsement that it belongs to specified company.

    Kit Kat gives the signal that it belongs to Nestle and Dairy Milk conveys that it belongs to
    Cadburys. Cinthol’s communication stresses that it is a Godrej product.

    Though these brands enjoy their unique image, somewhere in the image the makers association
    is also a part. Endorsement branding strikes a balance between umbrella andproduct branding.

    In case of Cadbury’s and Nestle, the brands mentioned above have their own unique position and
    image. Cadbury’s or Nestle support the brands to the extent that they transfer certain qualities or
    associations, which enhance customer’s trust. Brands are identified by their own name.

    Tags: Brand Building | Brand Building Strategies | Branding Strategies | Build your Brand

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