Unit -2

Brand creation and development

Creating brand names

Creating brand names is like crafting the perfect character name for a protagonist in a story—
it needs to be memorable, meaningful, and resonate with the intended audience. Here are
some steps and considerations to keep in mind when creating brand names:

Define Brand Identity:

Know Your Brand: Understand your brand's values, personality, and unique selling
points. The name should reflect the essence of the brand.

Target Audience Understanding:

Demographics and Preferences: Consider the demographics, preferences, and

cultural nuances of your target audience. A name that resonates with them is more
likely to be successful.

Brainstorming:

Free Association: Start with a brainstorming session. Write down words, concepts, and
ideas associated with your brand. It's like creating a mind map for a character's
backstory.

Creativity and Uniqueness:

Stand Out: Aim for a name that stands out in the market. It's like giving your character
a unique trait or skill that sets them apart from others.

Simplicity and Pronounceability:

Ease of Pronunciation: Choose a name that is easy to pronounce and spell. It's like
having a character name that players can easily remember and say.

Scalability:

Future-Proofing: Consider the scalability of the name. Will it still make sense and be
relevant as your brand grows? It's like envisioning your character's evolution
throughout the game.

Availability:

Domain and Trademark Availability: Ensure that the domain for your brand name is
available. Check for trademarks to avoid legal issues. It's like securing the rights to
your character's name in the gaming world.

Positive Associations:
 Check Meanings: Be mindful of the meanings associated with words in different
languages and cultures. You want to avoid unintentional negative connotations.

Storytelling Element:

Narrative Potential: A brand name with a storytelling element can captivate

audiences. It's like giving players a character with an intriguing backstory.

Feedback and Testing:

Gather Feedback: Get input from your target audience or colleagues. It's like
playtesting a character design to ensure it resonates with players.

Legal Considerations:

Trademark Search: Conduct a thorough trademark search to ensure the name is

legally available. It's like ensuring your character's name isn't already in use by
another game.

Flexibility:

Adaptability: Consider how adaptable the name is across different marketing channels
and platforms. It's like designing a character that fits seamlessly into various game
environments.

Identifying and selecting brand name

Selecting the right brand name is a crucial step in establishing a strong and memorable
identity for your business. Here's a step-by-step guide to help you identify and select a brand
name:

Define Your Brand:

Clearly outline your brand's mission, values, and unique selling propositions.
Understanding what your brand represents will guide the name selection process.

Target Audience Understanding:

Identify your target audience and consider their demographics, preferences, and
cultural background. Your brand name should resonate with the people you aim to
reach.

Brainstorm Keywords:

Generate a list of keywords related to your brand, products, or services. It's like
collecting materials for character creation in a game—these keywords will be the
building blocks of your brand name.

Creativity Session:

Conduct a creative brainstorming session. Explore word combinations, metaphors,

and abstract concepts. Think outside the box to create a name that is unique and
 memorable.

Check Availability:

Verify the availability of the name as a domain for your website. It's like ensuring your
character's name isn't already taken in the gaming world.
Check for trademarks to avoid legal issues. You want a name that you can legally
protect.

Simplicity and Pronounceability:

Choose a name that is simple, easy to spell, and pronounce. It's like creating a
character name that players can easily remember and say.

Positive Associations:

Ensure that the name has positive connotations. Consider meanings in different
languages and cultures to avoid unintentional negative associations.

Scalability:

Think about the future growth and expansion of your brand. A scalable name will
remain relevant and meaningful as your business evolves.

Storytelling Element:

If possible, infuse a storytelling element into the name. A name with a narrative
potential can create intrigue and engagement.

Feedback and Testing:

Gather feedback from trusted individuals or potential customers. It's like playtesting a
character design to see how well it resonates with players.
Test the name in different contexts to ensure it works well across various platforms
and marketing channels.

Legal Considerations:

Conduct a comprehensive trademark search to confirm the availability of the name.

Ensure that you can legally protect your brand name.

Final Evaluation:

Evaluate the shortlisted names against your brand criteria, considering factors like
memorability, relevance, and emotional appeal.
Choose a name that aligns with your brand identity and has the potential to become a
lasting and iconic representation of your business.

Brand positioning strategies

Brand positioning refers to the strategic process of establishing a distinctive and memorable
place for a brand in the minds of consumers, relative to its competitors. It involves shaping
how consumers perceive the brand, differentiating it from others in the market. For instance,
consider Apple's brand positioning. Apple is positioned as an innovative and design-driven
brand that prioritizes simplicity and user experience. This positioning sets it apart in the
highly competitive tech industry, creating a perception of premium quality and cutting-edge
technology.

Here are some brand positioning strategies to help you stand out in the marketplace:

1)Unique Selling Proposition (USP):

Highlight What Sets You Apart: Identify and emphasize a unique aspect of your brand that
competitors don't offer. It's like giving your character a special ability that makes them stand out.

2)Price-Based Positioning:

Emphasize Value for Money: Position your brand based on pricing, either as a premium, mid-range,
or budget option. Make sure the pricing aligns with the perceived value of your product or service.

3)Quality and Premium Positioning:

Emphasize Quality and Exclusivity: Position your brand as a premium choice by focusing on
superior quality, exclusivity, and luxury. It's like presenting your character as a high-level, rare find
in a game.

4)Convenience and Accessibility:

Emphasize Accessibility: Position your brand as the most convenient and accessible option for
customers. This could include factors like location, online availability, or ease of use.

5)Problem-Solving Positioning:

Address Customer Pain Points: Position your brand as the solution to specific problems or
challenges faced by your target audience. It's like having a character in a game with skills that
address common player frustrations.

6)Innovation and Technology:

Emphasize Technological Advancements: If your brand is associated with innovation or cutting-

edge technology, position it as a leader in the field. It's like giving your character the latest and
most advanced equipment.

7)Heritage and Tradition:

Leverage Heritage and Tradition: If your brand has a rich history or a strong connection to
tradition, use it to position your brand as reliable and time-tested. It's like having a character with
a deep backstory and established reputation.

8)Environmental and Social Responsibility:

Emphasize CSR Initiatives: If your brand is committed to environmental or social causes, position
it as a socially responsible choice. It's like having a character with a noble quest to save the virtual
world.

9)Lifestyle Brand Positioning:

 Align with a Lifestyle: Position your brand as a lifestyle choice, appealing to the values and
aspirations of your target audience. It's like creating a character that embodies a particular
lifestyle in a game.

10)Segmentation and Targeting:

Niche Positioning: Identify a specific niche within your target market and position your brand as
the best fit for that segment. It's like tailoring your character's skills to excel in a specific area of
the game.

11)Cultural or Emotional Positioning:

Evoke Emotions: Position your brand to evoke specific emotions in your audience. It's like creating
a character with a compelling backstory that tugs at players' heartstrings.

12)User Experience Positioning:

Emphasize User Experience: If your brand provides an exceptional user experience, position it as a
user-friendly and customer-centric choice. It's like creating a game with an intuitive interface and
seamless gameplay.

Limitations of brand positioning

While brand positioning is a powerful strategic tool, it does have its limitations. Let's explore
some of the constraints and challenges associated with brand positioning:

Changing Consumer Perceptions:

Consumer perceptions can evolve over time due to changes in trends, cultural shifts,
or external events. A brand that fails to adapt its positioning may struggle to remain
relevant in the face of evolving consumer expectations.

Market Saturation:

In highly saturated markets, finding a unique and distinctive position becomes

challenging. Competing brands may adopt similar positioning strategies, making it
difficult for any single brand to stand out.

Inconsistent Execution:

The effectiveness of brand positioning relies on consistent execution across all

touchpoints. If there's inconsistency in messaging, branding elements, or customer
experience, the intended positioning may be diluted or misunderstood.

Limited Control Over Perceptions:

While a brand can influence its positioning, it doesn't have complete control over how
consumers perceive it. External factors, such as reviews, social media discussions, or
competitive actions, can shape perceptions in ways that may be challenging to
manage.

Global and Cultural Variations:

 Brands operating in diverse global markets face the challenge of adapting their
positioning to different cultural contexts. What resonates well in one region may not
have the same impact in another, requiring careful localization.

Rapid Technological Changes:

Industries experiencing rapid technological advancements may find it challenging to

maintain a consistent brand positioning. Technological shifts can quickly alter
consumer expectations, making it necessary for brands to adapt their positioning
strategies accordingly.

Competitive Challenges:

Competitors can actively counteract a brand's positioning efforts. If a competitor

successfully challenges or imitates a brand's positioning, it can erode the brand's
uniqueness and competitive advantage.

Negative Publicity:

Unforeseen negative events, controversies, or public relations issues can significantly

impact a brand's positioning. Brands may find it challenging to recover from such
incidents and may need to reassess their positioning in response to public sentiment.

Overemphasis on Functional Benefits:

Brands that solely focus on functional benefits in their positioning may overlook
emotional or aspirational elements. This limitation can result in a less engaging and
resonant brand image, especially in industries where emotional connections are
crucial.

Limited Flexibility:

Rigidity in sticking to a pre-defined positioning may limit a brand's ability to adapt to

changing market conditions. Brands need to be agile and flexible in adjusting their
positioning strategies as needed.

Repositioning

Repositioning a brand is like giving it a fresh start or a new storyline—it's a strategic move
to alter the way the brand is perceived in the minds of consumers. Here's an exploration
of repositioning, its reasons, and the steps involved:

Reasons for Repositioning:

1.Changing Market Conditions:

Example: A company that initially positioned itself as a traditional brick-and-mortar

retailer might reposition to emphasize its strong online presence in response to
changing consumer shopping habits.

2.Shift in Target Audience:

 Example: A brand targeting young adults may reposition itself to appeal to an older
demographic by adjusting its messaging, product offerings, and overall brand image.

3.Competitive Pressures:

Example: When facing increased competition, a brand may reposition to highlight its
unique strengths or differentiate itself from new entrants in the market.

4.Rebranding after a Merger or Acquisition:

Example: Following a merger, the combined entity may undergo repositioning to

communicate a unified identity that reflects the strengths of both original brands.

5.Brand Image Issues:

Example: If a brand faces negative perceptions or a tarnished reputation,

repositioning efforts may be undertaken to rebuild trust and convey a more positive
image.

6.Evolution of Brand Offerings:

Example: A brand that expands its product or service offerings may reposition to
reflect the broader range of solutions it now provides to customers.

Steps in Repositioning:

1.Conduct Market Research:

Understand current market conditions, consumer perceptions, and competitor

positioning. Identify areas where repositioning could be beneficial.

2.Evaluate Brand Equity:

Assess the existing brand equity and determine which elements should be retained,
modified, or discarded in the repositioning process.

3.Define Repositioning Objectives:

Clearly articulate the goals of the repositioning strategy. Whether it's to reach a new
audience, address brand image issues, or respond to market trends, having clear
objectives guides the process.

4.Identify Target Audience:

Define the new target audience or segments that the repositioning aims to attract.
Tailor messaging and positioning to resonate with this audience.

5.Adjust Brand Messaging:

Craft new messaging that aligns with the repositioning objectives. This may involve
emphasizing different brand attributes, values, or benefits.
6.Update Brand Visuals:

Consider refreshing or redesigning visual elements such as logos, color schemes, and
packaging to reflect the evolved brand positioning.

7.Communicate Transparently:

Communicate the repositioning clearly and transparently to existing customers,

stakeholders, and the market. Address the reasons behind the repositioning and
highlight the positive changes.

8.Align Internal Teams:

Ensure that employees understand the repositioning strategy and its implications.
Internal alignment is crucial for consistent implementation across all touchpoints.

9.Implement Across Channels:

Implement the repositioning strategy across all marketing channels, including

advertising, social media, and customer interactions. Consistency is key to reinforcing
the new brand image.

10.Monitor and Adapt:

Continuously monitor consumer reactions, market dynamics, and competitive

responses. Be prepared to adapt the repositioning strategy based on feedback and
evolving circumstances.

Examples of Successful Repositioning:

1.Apple:

Apple successfully repositioned itself from a niche computer brand to a global

technology and lifestyle innovator, emphasizing design, simplicity, and user
experience.

2.Old Spice:

Old Spice repositioned itself from a traditional brand targeting an older demographic
to a youthful and humorous brand, capturing the attention of a younger audience.

3.Netflix:

Originally positioned as a DVD rental-by-mail service, Netflix repositioned itself as a

streaming platform, adapting to changes in consumer preferences and technology.

Repositioning is a dynamic process that requires a deep understanding of the market,

consumers, and the brand itself. When executed strategically, it can breathe new life into a
brand and position it for long-term success in a dynamic business landscape.