Branding: Setting your product apart from the rest

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Branding Setting your product apart from the
rest
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Lesson Objectives

• Discuss branding as a part of product planning
• Identify elements of branding
• Identify different types of brands
• Explain branding strategies

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What is a BRAND?

• A name, term, design or symbol that identifies a
  product and distinguishes it from its competitors

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Examples of BRANDS...

• Campbells
• Levis
• Betty Crocker
• Timex
• Nabisco
• Maxwell House
• Dole
• Can you name any others?

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Elements of Branding

• Brand names
• Brand marks
• Trade characters
• Trademarks
• Trade names

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BRAND NAME

• Word, group of words, letters or numbers that
  represent a product or service.

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TRADE NAME

• Word or name that identifies the company or a
  division of a particular corporation

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BRAND MARK

• Symbol, design or distinct coloring or lettering
  that is part of the brand

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TRADE CHARACTER

• A personified brand mark -- one that is given
  human form or characteristics

RONALD McDONALD
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Trademark

• A brand name, brand mark, trade character, or a
  combination of these that is given legal
  protection.
• Registered trademark symbol

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Lesson Objectives

• Identify different types of brands
• Explain branding strategies

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WHY USE BRANDING?

• Build brand recognition and customer loyalty
• Ensure quality and consistency
• Introduce new product lines and items

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TYPES OF BRANDS

• National Brands
• Manufacturers
• Private Distributor Brand
• Wholesalers and Retailers
• Generic Brands

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National Brands

• Also called Manufacturer Brands or Producer
  Brands
• Owned and initiated by the manufacturer
• Generate majority of sales for most product
  categories
• Internet Brands

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Private Distributor Brands

• Brand name established by wholesalers and
  retailers to compete with national brands.
• More profitable
• Exclusive to store

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Generic Brands

• Products that do not carry a company identity
• 30-50 lower price than national brands
• 10-15 lower price than private brands

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Branding Strategies

• Brand Extension
• Brand Licensing
• Co-Branding
• Mixed Brands

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BRAND EXTENSION

• Using an existing brand name for an improved or
  new product in the product line.
• Brand dilution original brand loses strength of
  its brand identity when the brand encompasses too
  many products.

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BRAND LICENSING

• Legal authorization to allow another company
  to use its brand for a fee.

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CO-BRANDING

• Combines one or more brands to increase customer
  loyalty and sales for each brand.

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MIXED BRANDS

• Offering national, private label and generic
  brands at the same time
• Reaches more than one target market
• Brand loyalty maintained
• Overall product mix increased

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Branding Elements and Strategies