ABM IV Unit
ABM IV Unit
What is Brand:
A brand is the identity and story of a company that makes it stand out from competitors that sell
similar products or services. The goal of branding is to earn space in the minds of the target
audience and become their preferred option for doing business. \Brands are an effective way for
companies to communicate their vision. A brand clarifies what a company stands for and why. A
brand also refers to the overall experience a person has when interacting with a business — as a
shopper, customer, social media follower, or mere passerby.
Branding is a process which involves creating a specific name, logo, and an image of a particular
product, service or company. This is done to attract customers. It is usually done through
advertising with a consistent theme. Branding aims to establish a significant and differentiated
presence in the market that attracts and retains loyal customers. A brand is a name, term, symbol, or
other feature that distinguishes an organization or product from its rivals in the eyes of the
customer. Brands are used in business, marketing, and advertising.
Features of Branding
Targetability
Branding should be planned according to the targeted audience. No business firm can target the
entire population. Business owners should identify the type of people who are buying their products
and services. Research should be done on the basis of age, gender, income, the lifestyle of their
customers, etc.
Awareness
The percentage of people who are aware of a brand is known as brand awareness. Well established
companies have the benefit of a high level of brand awareness. Brand awareness can be increased
with the help of advertisement on TV, radio, newspaper or social media marketing and
advertising. Logos also help companies build brand awareness, as people often recognize brands by
these symbols or diagrams.
Loyalty
Brand loyalty is the highest achievement or apex of any company. A customer who buys the
product of a particular company extensively is known as a brand loyalist. Many consumers prefer
using certain brands of clothing, deodorants or tubes of toothpaste, for example. They like how
these brands benefit them. Brand loyalty can be build by staying in touch with the customers, asking
them for their reviews.
Consistency
Consistency is necessary for a brand. A brand must remain consistent. Small businesses make
numerous promises in commercials and ads about their brands, and consumers expect companies to
continue living up to these promises. Their products should also be effective
Types of Brands
The type of brand used depends on the entity using it. The following are some of the most
common forms of brands:
Corporate Brands: Corporate branding is a way for companies to enhance their reputations
and distinguish themselves from competitors in their industries. The company's pricing,
mission, target market, and values all reflect the corporate brand.
Personal Brands: Social media enabled ordinary people to become influencers. Their
financial success depends on their ability to create a brand that attracts an audience that certain
advertisers want to reach. Personal brands are built through social media posts, sharing images
and videos, and conducting meet-and-greets.
Product Brands: Introducing a new product or supporting an existing product involves
creating and maintaining its brand. Branding a product starts with market research and
identifying the right target market
Importance of Brands
Your brand is arguably one of your organization’s most important assets. It gives your
organization an identity, makes your business memorable, encourages consumers to buy from
you, supports your marketing and advertising, and brings your employees pride.
Brand Identity
What is brand identity exactly? Well, in simple terms you can think of it as the visual building
blocks of branding, and the design elements linked to your brand personality. It’s the logo, brand
colours, typeface, and other visual elements of a particular brand – the things that people might
look out for in a shopping mall, or amongst a list of products. Think about McDonald’s’ golden
arches; Coca-Cola’s swirling font and iconic red; Nike’s ‘Swoosh’; Google’s four distinctive
colours and Apple’s… well, Apple.
Brand identity corresponds to the intent and approach behind these elements. Brand image is the
actual results of these efforts- whether successful or not.
Logo
Colours
Font/typeface
Shapes and iconography
Tone of voice
1. Analyze the company and the market. A complete SWOT analysis that includes the
entire firm—a look at the company's strengths, weaknesses, opportunities, and threats—is a
proven way to help managers understand their situation to determine better their goals and the
steps required to achieve them.
2. Determine key business goals. The brand identity should help fulfill these goals. For
example, if an automaker is pursuing a niche luxury market, its ads should be crafted to appeal
to that market. They should appear on channels and sites where potential customers are likely
to see them.
3. Identify its customers. Conducting surveys, convening focus groups, and holding one-
on-one interviews can help a company identify its consumer group.
4. Determine the personality and message it wants to communicate. A company needs
to create a consistent perception rather than trying to combine every conceivable positive trait:
utility, affordability, quality, nostalgia, modernity, luxury, flash, taste, and class. All brand
elements, including copy, imagery, cultural allusions, and color schemes, should align and
deliver a coherent message.
Brand Image
Brand image is the current view of the customers about a brand. It can be defined as a unique
bundle of associations within the minds of target customers. It signifies what the brand presently
stands for. It is a set of beliefs held about a specific brand. In short, it is nothing but the
consumers’ perception about the product. It is the manner in which a specific brand is positioned
in the market. Brand image conveys emotional value and not just a mental image. Brand image is
nothing but an organization’s character. It is an accumulation of contact and observation by
people external to an organization. It should highlight an organization’s mission and vision to all.
The main elements of positive brand image are- unique logo reflecting organization’s image,
slogan describing organization’s business in brief and brand identifier supporting the key values.
Brand Protecting
Don’t you find it frustrating to create the perfect brand for your company just to find out that
somebody bested you in patenting your idea? Or by the fact that another business entity is
abusing your brand names to sell counterfeit products? If you answered yes, then it’s time for
you to apply for a brand protection at your nearest trademark office and legal counsel. After all,
your company branding is your intellectual property.
Why is Brand Protection Important to Your Business?
You may be one of the many business owners or start-ups who got into online businesses
through social media accounts. It’s easy to start an online business and gain a following with the
right marketing strategy these days, but at the same time, malicious third parties can also easily
to steal, impersonate, and ruin your identity. How can you protect your business from being
infringed, stolen, or used inadvertently? This is where brand protection comes in. Brand
protection allows you to legally protect and ensure exclusive rights to your brand’s security,
longevity, and authority in the long run despite being online. Some of the reasons why you
should apply for a brand protection include:
Link Manipulation – With more and more people gaining access to the Internet, link
manipulation is the mainstream for exploitation efforts. Hackers can alter your website link by
creating a misspelled URL to hijack your customers, redirecting them to a spoofed website (a
website that looks exactly like yours).
Website Spoofing – Once your unsuspecting customers are redirected to their spoofed website,
bad actors and hackers will then trick them into downloading malware or spyware that gives
away their personal information.
Email Spoofing – In some cases, attackers may try email spoofing attacks where they send fake
emails that looks like a legitimate brand. Once your customer clicks them, they allow their
attacker to glimpse on their personal data, which may lead to impersonation and hacking.
Phishing – If you think attackers stop on emails and website spoofing, then you’re wrong. As a
matter of fact, phishing is quite common regardless of what country you belong. For years,
attackers have been exploiting unsuspecting customers by sending them links with spoofed login
pages or by asking them to transfer money through voice messages.
Social Media Impersonation – Social media is a popular platform to share information,
communicate and advertise, making it the best place for brand exploitation. How? By
impersonating someone into promoting counterfeit goods, posting positive reviews on fake
brands, or commenting fake news which may tarnish their reputation.
Impacts of Brand Infringements and Fake Products
Although the issues caused by your attackers won’t directly affect your company name. Its
impact will cost you more than you can imagine if they are not prevented or addressed in the
long run. Some of these impacts include:
Reduce in Sales – Majority of the people around the world can’t resist a bargain. In most cases
buyers will prefer quantity over quality so long as they think they are saving more. And, seeing
that fake products are cheaper compared to the original ones, people will be drawn to these kinds
of goods. As a result, you lose not only your profit but also your customer’s loyalty in the long
run.
Decrease in Customer Trust and Reputation – Some people, especially those who are
particular with their purchases, may distrust your brand as soon as they find out that you are
linked to any accidents, scandals, and frauds. When that happens, gaining back their trust will be
hard. Not to mention, fighting back against infringers is costly, using up a significant amount of
your time and resources.
Brand Dilution – When your brand acquires a bad reputation online, the search engine flags
your keywords, which results to brand dilution. This is done by making your keyword more
generic, displaying unrelated advertisements to your post, which dilutes them later on.
Jeopardized Business Partnerships – Finally, when counterfeit items comes in, you don’t only
lose the loyalty of your customers, but also your relationship with your business partners. By
selling fake goods, your business partners and suppliers may perceive you as a disloyal member.
Ways to Protect Your Brand Name
Now that you have a good grasp of what branding is and why brand protection is important, it’s
time for you learn how to protect your brand name through this ultimate guide. Here are five
easy ways:
1. Register your Domain Name
Domain names are important in building your business brand protection. As soon as you come
up with a business name, register it even if you don’t plan to build a website right away.
According to GrowthBadger, .com domains are over 33% more memorable and trusted than
URLs with other top-level domains (TLD). At the same time be sure to register your domain
name with alternate extensions (e.g., .net, .biz, and .org), with their alternative spellings (e.g.,
saintjames.com, stjames.org, and stj.net). Having domains with multiple spelling alternatives is
ideal for your visitors because you’re giving them better chances of accessing your website in
case they make a mistake in entering your domain name.
2. Trademark your Business Name and Logo
While you’re not required to trademark your name and logo, doing so gives added protection in
case someone uses a name or logo that’s the same or confusingly similar. Start by searching
the Patent and Trademark Office (USPTO) database to see if anyone has already trademarked a
similar business name and/or logo. You can also apply for a trademark online. But, since this
process is complex, consulting an attorney familiar with trademark law can help file documents
necessary to registering and maintaining your brand.
3. Use your Brand
The more you use your brand name, logo, and other identifying elements, the more proof you
will have that they belong to you. For example, an eCommerce business can put its logo on
shipping boxes, tissue paper, and packing slips. A retailer can have sales clerks wear t shirts with
the store’s logo on them to make them more visible to their clients. For social medias, you may
use your brand to help establish your presence online. You can use the ™ symbol with your
name and logo before you apply for a trademark; after your official registration, you can use the
symbol ® for your brand name.
Individual Brand
Individual brands are linked only to a single product category. This doesn’t mean it has only one
product. It can have multiple product versions, models, colours, etc. For instance, the Mercedes
family brand has individual brands like the SL class and GLC class. So SL class is one individual
brand below the family brand – Mercedes.
Importance Of Brand Hierarchy
Marketers create brand hierarchies for numerous reasons. Brand hierarchies are important
because as products become more different it becomes difficult for brands to retain their product
meaning for consumers and employees. Therefore, through a brand hierarchy brands can evoke
specific associations across numerous products. The following are reasons why brand hierarchies
have become increasingly important today:
Prevents Customer Confusion
When customers are offered too many choices under one brand name it creates confusion.
Confused customers will never understand your offering and therefore may not buy your
products at all. Through a brand hierarchy, consumers can understand what brand sells exactly
what products. It simplifies the choices that consumers need to make.
Helps Future Business Planning
Successful branding is affected by numerous factors, but a planned out hierarchy if one of the
important elements. If a proper structure is not in place, it gets hard to allocate resources and
budgets. With a brand hierarchy, every new brand can build its own elements, associations, and
style guide. Brand hierarchies also help plan what marketing materials and financial resources
would each brand need.
Attracts Focused Attention
When your brands are segregated through a hierarchy you can build a specific brand strategy for
each product. This way you prevent brands from competing with each other. Each brand will
have its own story to tell and it’s own target audience to market to. This difference will serve as a
guiding focus for the purchasing decisions of your target audience.
Provides A Clear Overview
Brand hierarchy is important because it helps understand a brand’s architecture from a bird’s eye
view. If you have multiple products under one corporate brand with no division, your brand
structure will look too unorganised and muddled. Therefore, a brand hierarchy helps in having all
your specilised brands and products at one glance.
Brand Evaluation
Brand evaluation is unquestionably essential for giant firms that can afford to spend money
investigating their brand, but it may also assist small enterprises. A brand evaluation provides an
objective view of your brand’s worth. It may also help you spot possible issues with your brand
measurement.Today’s great global businesses demonstrate that brand power can encourage growth
by exploiting their reputation and consumer loyalty. Such brands include Apple, Coca-Cola, Nestle,
and Goodyear. Many consumers pay for the brand when they order a “Coke” and would gladly spend
twice as much on luxury items from companies like Apple.
What is brand Evaluation
Brand evaluation measures a brand’s worth using pertinent metrics that determine how the brand
affects users and consumers. The brand assessment considers financial (such as brand value) and
non-financial factors (i.e., brand strength and brand equity). Brand valuation and brand
evaluation are linked ideas that complement one another. Brand value is more limited and solely
takes financial factors into account. Brand evaluation is the process of determining a brand’s
value using pertinent metrics that gauge the brand’s influence on users and consumers. It
incorporates both monetary and non-monetary factors. This is described from the viewpoint of
the stakeholder.
We should lay out our guiding concepts before diving into the details of our brand evaluation.
Insights from fit-for-purpose brand evaluations include: