INTRODUCTION TO BRANDS
Management thinkers today strongly believe that the customer is king. The single most important job in marketing is the job of creating and also obtaining a customer. Numerous research studies across the world have proven that the best way of creating and retaining customers is by building strong brands. Now what are Brands? Products? Enhanced Products? Products with names? In a simple equation
BRAND = PRODUCT + IMAGES
A brand is more than the mere product it stands for. A product is the amalgam of the physical product and notional images that go with the brand when we recall a brand, not only do we recall the physicality of the product but also the image it conjures.
EXAMPLE: SUNDROP = SUNFLOWER OIL + (HEALTHY FAMILY + HAPPY CHILDREN + LOVING MOTHER + TASTY FOOD
Brands are an integral part of the product policy. The most distinctive skill of marketers is their ability to create, maintain, protect and enhance brands. Brands are long term investments made by the companies for their future to be certain. Companies spend huge amounts of money for the creation of a powerful brand.
BRAND DEFINED:
“A brand is a name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors”
– American Marketing Association, USA
Brand Composition
RATIONAL APPEAL: These relates to the physical features that are embedded in the brand.
Eg :- 4 stroke engine ( Hero Honda)
EMOTIONAL APPEAL:
These relate to the images or the associations a customer display with respect to the brand. (Emotions about the brands) Eg : ICICI Bank ( Hum Hai na)
SENSUAL APPEAL:
These relate to the feeling, the sensous image the brand stands for the customers. It should trigger a feeling.
Eg: Bisleri ( Play Safe)
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