PRODUCT BRANDING

Vineetha KAssistant ProfessorDept. of PharmaceuticsSrinivas College of Pharmacy

DEFINITION

Product branding is the act of putting a trademark or copyright on a product offered by a business.

This prevents the product from being sold by other manufacturers under the same name.

Brand: “name, term, sign, symbol, design or combination of these all intended to identify the goods and services of one seller or a group of sellers and differentiate them from those of the competitors.

Ex: “Ranitidine”, the anti- ulcer drug is a generic product, whereas “Zantac” is the brand name.

BRAND EQUITY: Brand equity is the positive

differential effect that knowing the brand name has on consumer response to the product or service.

A measure of a brand’s equity is the extent to which customers are willing to pay more for the product”

Managing brand equity: Brand loyalty Name awareness Perceived quality Brand associations

TRADE MARK A Trade Mark is a brand that has been given legal protection, ensuring its use exclusively by one seller. It has to be registered under the trade and

merchandise act (Registrar of trade mark) to get the legal protection i.e. the trade mark.

PRODUCT BRANDING STRATEGIES

BRAND STRATEGY DECISIONS:1. Brand positioning Attributes Benefits Beliefs and values2. Brand name selection Selection Protection3. Brand sponsorship Manufacturer’s brand Private brand Licensing Co- branding4. Brand development Line extensions Brand extensions Multi brands New brands

BRAND POSITIONING:

Marketers can position their brands clearly in target customer’s minds at three levels.

Attributes: lowest level. Positioning based on product attributes. (e.g. face cream- cleansing)

Benefits: a better positioning is by using brand name with a desirable benefit to the customer. (e.g. face cream- ponds- softer skin, glowing skin)

Beliefs and values: strongest brands are positioned on strong beliefs and values. (E.g. face cream- makes you more attractive).

BRAND NAME SELECTION:

Selection of a brand name starts with a careful analysis of the product and its benefits, the target market, and the proposed marketing strategies.

A good brand name, after all, will add greatly to a product’s success.

THE FOLLOWING ARE THE DESIRABLE QUALITIES FOR A BRAND NAME: The name should be suggestive of the

product’s benefits and qualities. Eg: Fair and lovely

It should be easy to pronounce, recognize and remember. Eg: pepsi

The brand name should be distinctive. Eg: Kodak

It should be extendable

The brand name should translate into foreign languages easily, and should not have different meanings in different languages.

The name should be capable of registration and legal protection.

BRAND SPONSORSHIP:

There are four major types of brand sponsorship options.

Manufacturer’s brand Private brand Licensing Co- branding

NATIONAL BRAND Products that carry the name of the

manufacturer Eg: Amul

PRIVATE BRAND Products that carry the name of the

seller, nt the manufacturer. Eg: West side Nilgiri’ s

CO- BRANDING Two companies join to create a new

product carrying both their brands. Eg: pepsi and Pizza hut

LICENSING:

Some manufacturers market licensed brands. Sellers of children’s products use many licensed names.

Eg: Mickey mouse, Donald duck

BRAND DEVELOPMENT:1. Brand extensions: Brand extension means extending an

established and successful brand name to more products, which may or may not be related to the core brand.

Eg: Amul milk powder, Amul ghee, Amul butter, Amul cheese, Amul cheese spread, Amul ice cream, Amul chocolates.

BRAND EXTENSIONS:

This is a powerful tool. It helps new products to acquire

brand recognition, and faster acceptance.

It enables the company to enter new product categories more easily.

Brand extension costs much less than launching a new brand.

2. LINE EXTENSIONS: Involve introduction of additional items in

a given product category under the same brand name, such as flavours, forms, colours, ingredients, package sizes etc.

Majority of new product launches by companies are line extensions.

Eg: Colgate gel, Colgate herbal, Colgate Calciguard, Colgate Total,……….

LINE EXTENSIONS: Low cost Low risk Can cause confusion to consumers Brand cannibalism

3. PRODUCT FLANKING: Product flanking refers to the

introduction of different combinations of products at different prices, and package sizes to tap market opportunities.

Example: Bru instant coffee

4. MULTI BRANDS: Sometimes companies launch additional

brands in the same category. Multi branding facilities product

differentiation, i.e. to establish different features, attributes and appeal to different buying motives.

Examples: HLL’s soaps: Dove, Lux, Pears, Liril, Hamam

5. NEW BRANDS A new brand name is created by a company when

it enters a new product category for which the present brand name is found not suitable.

The company may also feel that the power of its existing brand name is waning and a new brand name is needed.

Example: Titan watches created a new brand name, ‘Fast Track’ for the watch aimed at teenagers.

PACKAGING:

The process of designing and producing the container or wrapper for a product.

Packaging plays a vital role in marketing a product.

Some rural consumers identify with the design or cover of the product and then they buy it.

It gives proper protection to the product. It helps in bulk breaking. It entices the customer to buy the product.

LABELING:

It carries the information about the product and the seller and this information is presented on the package as well as on the product.

Types of labels: Brand label: only brand name is

mentioned on the packaging. Grade label: identifies the products judged

quality with a letter, number or word. A descriptive label: gives the entire

information about the product, use and care.