Overview of Brand Management

What is Brand?

Branding means much more than just giving a brand name and signaling to the outside world, that such a product or service has been stamped with the mark and imprint of an organization.

“Producers sold goods or commodities to fulfill our core or basic needs like thirst, hunger or energy. These products did not have any identification mark on them, therefore historically more products were unbranded. First step towards branding a commodity is to package it. The company enhanced the value of the commodity functionality.”

Branding started formally when craftsman put trademark on their products to protect them against inferior quality painters started signing their art work.

The meaning of brand?

“A name, term, sign, symbol or any other feature that identifies one seller’s goods or services as distinct from those of other sellers.”

‘A brand is a mixture of attributes, tangible and intangible, symbolized in a trademark, which if managed properly, create value and influence.’

Example:

Macdonald sums nice quote for emphasizing on importance of brands:

“….it is not factories that make profit, but relationships with customers, and it is company and brand names which secure those relationships”

The American marketing association describe brand as a, “name, term, sign, symbol or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.”

‘A brand is a source of promise to the consumer.’ It promises relevant differentiated benefits. Everything an organization does should be focused on enhancing delivery against its brand’s promise.

Combining a few different definitions, a brand is the name and symbol that identify

The source of relationship with consumer.

The source of promise to the consumer.

The unique source of products and services.

The sum total of each customer’s experience with your organization.

Layers of Brand:

1. Product and services – At the most basic level customers buy products to meet certain functional needs. However most products and services can not survive on functionality alone as this is usually method in time

2. Basic Brand- The basic brand consist of the name, term, sign, symbol or design to identify goods.

3. Augmented Brand – It enhance the customer total purchasing and use experience, the enlargement of core product or services with supplementary products and services. (ex. Information, quick delivery)

4. Potential Brand – When brand achieves it’s potential when added values are so grate that customers will not willingly accept substitutes. (ex. Levis, coca cola)