Key learning points

To understand brand and brand equity

Role of brand in marketing What is branding and why it is important

Marketing advantage of stronger brand

Brand
A name , term ,sign ,symbol , design, or a combination

of these that identifies the products or services of one sellers or group of sellers and differentiates them from those of competitors

EXAMPLE

Brand element
Brand name
Slogan Logo

Symbol

slogan

Logo or symbol

ROLE OF BRAND
Brands enable customers to remember companys

product or service. Brands build customer loyalty and lead to repeated purchases. Brands make it easier for current clients or customers to refer you to others. Brands send a message as to what your customers can expect.

IMPORTANCE OF BRAND(contd.)
Brands convey an emotion.
Brands adds value to product or service. Serves as an competitive advantage over competitors

product. Create barriers for the entries of new competitors.

BUILDING STRONG BRAND

Brand positioning.
Brand name selection. Brand sponsorship.

Brand development.

BRAND EQUITY
The differential effect that knowing the brand name

has on customer response to the product or its marketing is known as brand equity. A powerful brand always has a high brand equity. Eg. Cadbury, Nokia etc.

WHAT IS BRAND EQUITY

The added value endowed by the brand name
It is measurable but very difficult. It is the additional money that consumers are willing

to spend to buy Pepsi rather than the store brand of soda is an example of brand equity.

Characteristic of Brand equity

A powerful brand has high brand equity
It is a measure of the brands ability to capture

consumer preference and loyalty Brand equity is one of the factors which can increase the financial value of a brand. a product has high brand equity they are successful at retaining their existing customers They are also successful at attracting new customers who have heard of the brand through successful marketing or word of mouth.

Creating brand equity

Target the audience.
Get the customers attention. Make the public remember your brand.

Build a solid brand image.

Reinforce the brand image within the company.

Measuring brand equity

Brand Audits
(health of brand)

Brand Tracking (over time) Brand Valuation (financial worth)

Marketing advantage of strong brand

Improve perception of product performance
Greater loyalty Less vulnerable to competition

Inelastic consumer response to price increases

Elastic consumer response to price decreases

What strategic element can not be duplicate

If you lower the price , they can also lower their

price. If you added a feature , they can also add similar feature. But the one thing which they can not use/copy

is your brand name

THANK YOU
AMIT KUMAR
ANKUR KUMAR GAURAV

RAHUAL RAI
SUDIPTA CHAKROWARTY