Looking out into the world today, it’s easy to see why brands are more important now than at any time in the past 100 years. Brands are psychology and science together as a promise mark as opposed to a trademark. Products have life cycles. Brands outlive products. Brands convey a uniform quality, credibility and experience. Banks are valuable. Many companies put the value of their brand on their balance sheet.
Why? Well you don’t have to look vary far. When Tata Motors of India bought Jaguar and Range Rover from Ford, what did they buy? Factories? Raw Materials? Employees? No Goldman Sachs and Morgan Stanley helped Ford sell the brands to Tata for $2.56 billion, and the brands were worth more than all other ingredients combined.
Likewise, when Kraft bought Cadbury for $19.5 Billion what did they buy? The chocolate? The factories? The recipes? The candy makers? No they bought the brands.
And when Four Deasons Hotels, Inc., a Canadian-based international luxury, five-star hotel management company, sold itself to bill Gates and Prince Al-Waleed bin Talal of Saudi Arabia for $3.8 billion what did they buy? Locations? Restaurants? Staff? Beach front property? No they bought the brand.
The list goes on with many examples such as InBev acquiring Budweiser to add to their house of brands that include Stella Becks and Labatt. Or Geeley Motors of China acquiring cult Swedish Auto brand Volvo or Mahindra of India buying Ssangyong, Korea’s third largest car company.
Your brand is now customers recognize your company, your product, your service and your reputation. Your company works hard to ensure customers are happy with its products and services. Your brand associates your products and services with the goodwill and loyalty you have earned with your customers.
Branding is fundamental. Branding is basic. Branding is essential. Building brands builds incredible value for companies and corporations.
The world has come online and there are many new markets and a growing middle class in places like India, Brazil, Russia, South Africa, Nigeria, and Indonesia and in many more places. These consumers buy brands. They buy premium brands.
Branding is a way of highlighting like what makes your products or services look so attractive and different than your competitors. Effective branding will turn your business or products into something unique unlike similar to other. This could be simply achieved by using a color in your design or packaging which your competitors are not using and which creates an impression in the minds of consumers.
Brand increase customer awareness of the business and its products and services. by engaging with customers and creating a connection. Brand for a customer will indicate commitment towards quality from sellers there by reducing time spent in coming to a purchase decision. Brand for companies indicate a sort of benchmark in quality as well as customer expectation and gain profit Continuously. Branded products sell at a premium compared to equally good or better products because of their image. Brands enable companies to move into new market sectors effortlessly. The value of brand is determined based on the profits earned for the manufacturer.
Brand management is the process a company uses to control its brand. You continue to strengthen the association your brand imprints on your customers by making sure the look and message of each promotional piece sure the look and message of each promotional piece supports your brand by reinforcing a specific message. Many large corporations hire a full-time brand manager to ensure the brand is not diminished or misused. For resellers and vendors developing a programmer to consistently generate high quality promotional pieces that strengthen brand while controlling its use can be a challenges. This is especially true when co-branding.
Brand strengthening is about message and cadence. A steady drumbeat in the market requires consistent output of new content to the channel and marketplace that support branding and co-branding efforts. Delivering the right message to support your brand is important.
Brand management is the voice and image the represents your business plan to the outside world widely. Developing, maintaining and protecting the brand are the important aspects of brand. Brand Management is the application of marketing techniques to a specific product or product line to increase its perceived value to the customer and thereby increase brand franchise and brand equity.
Therefore, in any curriculum of Marketing the important of brand management is increasing day by day. The present volume has been written keeping in mind the MBA course of various Indian Universities and Institutions. During our teaching experience we found the lack of book in this arena by any Indian author. This prompted our keen interest to present a comprehensive volume in the hands of ever searching students. It will also help in enriching to a better understanding as to how the numerous aspects of branding unitedly work as part of an over all system in an integrated fashion.
1. Product vs. Brand
2. Concept of Brand
3. Managing Brand
4. Brand Powar
5. Brand Positioning
6. Brand Extension
7. Model’s of Brand Extension
8. Brand Identity
9. Brand Image
10. Brand Picture
11. Brand Personality
12. Brand Equity
13. Brand Strategy
14. Brand Communication
15. Integrated Branding
16. Global Branding
17. Retail Branding
18. Service Branding
19. Techno Branding