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Meaning of Branding Branding is the practice of giving a specified name to a product or group of product of one seller. Branding is the process of finding and fixing the means of identification. In other word, naming product, like a naming a baby, is known as branding. Parents have children and manufacturers also are eager to know the character and the capacity of their products on their birth, but not on their names. Thus branding is management process by which product is named; i.e branded.
DefinitionAccording to the American Marketing Association,“ A brand is 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.”According to William J Stanton, “ All trade marks are brands and thus include the word, letter or numbers which may be pronounced; they may also include pictorial designs.”
Threes of Cs of Branding Clarity- Strong bands are clear about what they are & what they are not. They understand their unique promise of value. And this promise of value sets them apart from their competitors. It differentiate them and allow them to attract and build loyalty among a desirable set of consumers. Consistency – In addition to being clear about who they are, strong brands are also consistent. They are always what they say they are. Constancy- It is not enough to be clear and consistent if you are not always visible to your target audience. Strong brands are constant; they are always there for their customers and prospects.
A Brand can convey up to six Level of Meaning Attributes – Mercedes brings to mind expensive, well built, well engineered, durable, high prestige automobiles. Benefits – The attributes “durable” could translate into the functional benefits and the attributes “expensive” translates into the emotional benefits. Values- Mercedes stands for high performance, safety and prestige. Culture – Mercedes represents German Culture:; organized, efficient and high quality. Personality – Mercedes may suggest a no nonsense boss (person), a reigning lion (animal) or an austere palace (object). User – Suggest the kind of consumer who buys or uses the product. A top executive behind the wheel of a Mercedes and not a young secretary.
Purpose of Branding Brand is Massive asset. Brand is Promotional Tool. Brand is Weapon to Protect Market. Brand is Antidote for Middle Man Survival. Brand is a Means of Identification for Customers.
Significance/Advantage of Branding Advantage to Producers.1) Easy to Advertise.2) Easy to Identify the Products.3) Creation of Separate Market.4) To gate More Price.5) Easy to expand the Product Mix.6) Personal Contacts with Consumers
Advantages to Middleman Easy to understand needs and wants of consumers. Less Risk. No need of Advertisement and sales promotion. Increase in sales. Increase in Profits.
Advantages to Consumers Easy to recognize. Availability of quality product. Minimum fluctuation in price. Improved Packing. Mental Satisfaction.
Branding Decisions Individual Names. Blanket Family Name. Separate family name for all Product. Corporate name combined with individual product name.
PACKAGING Packaging has been defined as “ an activity which is concerned with protection, economy, convenience and promotional consideration.” According to William J Stanton,“Packaging may be defined as the general group of activities in product planning which involves designing and producing the container or wrapper of product.”
Reasons for the Growth of Packaging Self Service. The package must perform many of the sales tasks; attract attention, describe the product features, create consumer confidence, and make favorable overall impression. Consumer Affluence. Rising consumer affluence means consumers are willing to pay a little more for the convenience, appearance, dependability, and prestige of better package. Company and Brand Image. Package contribute to instant recognition of the company or brand. Innovation Opportunity.
Purpose of Packaging Product Protection. Product Attractiveness. Product Identification. Product Convenience. Effective Sales Tools. Channel Co operation. Segmentation.
Functions of Packaging Utilitarian Function. Profit Function. Communication Function.I. It makes product identification & differentiation both easy & effective.II. Package features communicates product massage & motivate consumer to buy.III. A change in product package design & massage considerably facilitates implementation of product/brand repositioning strategy of a company.IV. Package repeats the selling massage.V. It promotes the product at the point of purchase and usually helps in the purchase decision process. Purchase and Marketing
Types of Packaging Consumer Packaging. Family Package. Re-use Package. Multiple Packages. Transit Packaging.
NEW TRENDS IN PACKAGING Plastic a new Trends in Packaging.• Squeeze Bottles.• Tubes.• Sheet Formed Containers.I. Skin Packaging.II. Blister Packaging.III. Semi Rigid Packaging.• Sachets.
Advantages of Packaging. Advantages to Manufacturers.I. To keep the product safe.II. To minimize the possibilities of adulteration.III. To facilitates storages.IV. To help in advertising and sales promotion.V. To facilitates distribution.VI. To increase the Demand.VII. To increase the profits.
Advantages to Middlemen Helpful in storage. Helpful in Handing. Helpful in presenting the products before the consumers. Helpful in presenting the products before the consumers. Helpful in increase sales and profits.
Advantages to Consumers Minimum possibility of adulteration. Helpful in providing necessary information about product. Information about the producer. Instruction for the use of product. Easy in Handling.
Labeling “Label is a part of product, which carries verbal information about the product or seller. It may be a small slip or printed statement .” It may be a part a package or it may be attached to the product. It convey verbal information about the product and seller. According to William J Stanton,“ The label is the part of the product which carries verbal information about the product or the seller (manufacturer or middlemen). A label may be part of the package or it may be a tag attached directly to the product.”
Functions of Labeling It enables the producer to give a clear instruction about the users of product. Price variation caused by middlemens are avoided because of price is maintained and printed. Manufacturer buyer relation is established. It encourages producer to make only standard products. Buyers can easily identify the products.
Purpose/Role of Labeling in Packaging To bring Home the Product Features. To facilitates the Exchange Process. To encourage the self service. Product related services. I. Product Support services. II. Product Credit Services. III. Product Guarantee and Warrantees