VI Semester BBA

MK6.5 BRAND MANAGEMENT

Study Material - 2017

Prepared By,
Ms. Lincy Joykutty,
Assistant Professor, NHC-M

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 LIST OF CONTENTS
SL NO CHAPTER NAME PAGE NUMBER

1 PRODUCT MANAGEMENT 3-7

2 PRODUCT DEVELOPMENT 8-19

3 MARKET POTENTIAL & SALES 20-25

FORECASTING

4 BRAND MANAGEMENT 26-39

5 BRAND LEVERAGING AND BRAND 40-50

PERFORMANCE

6 DESIGNING & SUSTAINING 51-53

BRANDING STRATEGIES

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 UNIT-1

PRODUCT MANAGEMENT

PRODUCT

Product is the sum total of physical, economic, social and psychological benefits
offered to a market to satisfy a want or need.

Product may take any forms as listed below:

The components of a Product which may be the selling points for that product are:

 Physical Attributes
 Psychological Benefits
 BRAND
 Brand Image
 Guarantee/ Warranty
 Service
 Special Features

Product Levels

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 Product Plan or Strategy
A product strategy is a company plan for marketing its products. The product plan
involves a number of issues such as:
• Product Line
• Product Mix
• Organising for Product planning and New Product development
• Branding
• Packaging
• Labeling etc.
Product Line : is a group of products that are closely related either because they satisfy
 similar needs of different market segments
eg. Cosmetics range for girls, women, men
 different needs of one market segment
eg. Soaps and Moisturizers for body care; Shampoos and Hair Oil for hair care
Types of Product Line:
Line stretching: It occurs when the company tries to stretch its existing range of products either
upwards or downwards .Ex: Titan’s Fastrack & Sonata.

Line Filling: When marketers add more products to their existing range of products, it is known
as line filling. Ex: Procter & Gamble’s added Rejoice to its existing range of shampoo brand’s
Pantene & Head & Shoulders.

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Product Line Pruning: Manufacturers dispose of certain products that no longer contribute to
the overall profitability of the organisation. Companies can optimally divert the resources spent
on such products to more profit generating products.

TYPES OF PRODUCTS:
1. Consumer Products: are the products that are brought by a consumer for
personal, family or house hold use.They are bought with the intension of
satisfying individual or personal needs. Consumer products can further be
divided into:
a. Convenience products: are the products that are relatively inexpensive
& are bought frequently. These products are mutually bought with a
minimum of cost & effort.
i. Stable Product: Milk,newspaper,etc.
ii. Impulse Goods; Magazines, chewing gums
b. Shopping products: are products for which a buyer is willing to spend
time & effort in planning & making purchase decisions. These
products are expected to have a longer life & are purchased less
frequently. Ex: Home appliances, stereos, cameras, etc.
c. Speciality products: These are products that have 1 or more unique
characteristic feature. These products are available in few select outlets
or only through a single outlet. Ex: An antique car, benz, etc.
d. Unsought goods: are goods that customer purchases when he is faced
with a sudden problem. Customers are not greatly aware of the need &
there they do not think it literally necessary to purchase the product.
Ex: Umbrella, insurance polcies,medicine,etc
2. Industrial Product: These are products that are purchased to produce
other products or facilitate he smooth function of the production. They are
further divided into :
a. Raw material: It is the basic input used in manufacturing a product in
large quantity according to the grade & specification. Ex: Crude oil,
Fabric, chemicals, farm products, etc.
b. Manufacture materials & component parts: Manufactured materials are
that have undergone some processing before entering into the
manufactured process of a product. Ex: Rubber sheets or crumb rubber
made out of natural latex. Component Parts are manufactured items
sub assemblies or completely assembled unit are incorporated into
buyer’s final product. Ex: Dash board instruments, automobile tyres,
etc.
c. MRO supplies: Maintenance repairs & operating supplies gets used up
in facilitating the operation of the enterprises but do not become part of
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 the finished product. Ex: Maintenance supplies include cleaning
compounds, paints, brooms & light bulbs. Bearing gears & filters are
examples for repairs. Operating supplies include office supplies such
as pen, ink, paper, etc.
d. Process materials: It is used in manufacturing of products may be
distinguishable in the final product like sheet metals, electric &
electronic circuits wiring, etc or indistinguishable like certain
ingredients used in pharmaceuticals & food products, etc.
e. Capital equipments & Investments: These include capital goods, land,
building & other companies. They are also known as foundation goods.
f. Business services: These cover a broad spectrum like technical service
of maintaining equipment non technical services of maintaining
premises like janitorial services & commercial services like banking,
insurance, research, etc.
Standard Industrial Classification system: It refers to the scheme by
which industries & products were systematically classified in the
united states so as to easily identify products by industry, group &
subgroup within the industry & other relevant product particulars.
Product Line : is a group of products that are closely related either because they satisfy
 similar needs of different market segments
eg. Cosmetics range for girls, women, men
 different needs of one market segment
eg. Women - body care products ; hair care products

Product Mix : is the entire range of products of a company. The product mix has four
main characteristics:
1. Width : No. of product lines in the company
2. Length: No. of product items in each product line
3. Depth: No. of Variants offered of each product item in the line.
4. Consistency: Products have similarity due to production or marketing aspects

TYPES OF PRODUCT MIX DECISION

1. Product Line addition or deletion: A firm may add or delete existing ones
or do both in the existing product lines.Ex: HUL decided to launch “Surf Ultra”,
“Rin”(Blue coloured), “Wheel”(Green coloured), & “Sunlight”(Yellow coloured
detergent)
2. Product abandonment: It refers to deletion of either an individual product or the
entire product line.Ex: Parle withdraw Bigbite & Bisca –a cup noodle from the
market.
3. Product modification: It is achieved by reformulation, redesign changing sizes &
adding or removing features.

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TWO MARKS

1. Give the meaning of product.

2. What is product mix?

3. What is product line?

4. What is product width?

Eight Marks

1. Explain product levels.

2. Explain the types of product line.

Fifteen Marks

1. Explain the types of products.

2. Write a note on product personality.

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 UNIT -2

PRODUCT DEVELOPMENT

FACTORS INFLUENCING DESIGN OF THE PRODUCT:

1. External appearance: It has to be determined by size, shape, proportions, colour,

finish, texture, dimensions, ornamentation & other physical features that appeal to the
consumer senses of beauty-utility & distinctiveness.

2. Production capacity: The ability of the plant & the personel to make design economic
& profitable.

3. Available capital: Capital available is so sufficient that enables the producer to

purchase the facilities, equipment & the necessary tools & materials to make a new &
improved product.

4. Usage: Uses or applications for a product should be considered in designing its

appearance & internal construction features so as to provide greater utility &
usefulness to the users.

5. Competitive Intensity: The competitor’s design has deeper bearing on the company
product designs.

6. Customers: The requirements’ of the customer need to be understood by product

designer such as quality, durability, reliability, etc which would help to enhance the
sale of an organisation.

7. Factors of production: The factors of production such as materials, money, machinery,

etc also influence the design of product which would fulfil the taste & preferences of
customer.

8. Marketing mix: The marketing mix variables such as product, price, place, promotion
strategies influence the success of product design which has to be rightly understood
by a marketer & tap the market rightly with target customers.

“Product planning is the act of marketing out & supervising the search, screening,
development & commercialisation of new products; the modification of existing lines, & the
discontinuance of marginal or unprofitable items.”-Mr Karl H Tietjen

Objectives of Product Planning:

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  To meet the customer needs: Customer is the king of marketing. Product planning is a
dependable tool for marketing manager to achieve the ultimate objective. Product
planning helps to identify the customer needs, requirements, aspirations, likes &
preferences & guides the firm’s resources & efforts towards the accomplishment of
satisfying a want.

 To evaluate the firm’s strength & weaknesses: Product planning that brings these
strength & weaknesses of the organisation in order that the product would be devised
so as to minimise the weaknesses & maximizes the strength.

 To maximise utilisation of resources: Product planning is related with development of

new products, modification of existing one to changing consumer needs,
discontinuance of marginal products, etc.

 To guarantee firm’s survival: Product planning that predicts the likely changes in
products, technologies, product ideas, inputs, etc which would help the firm to survive
for several years.

 To Increase firm’s sales: Product planning activity is designed to achieve the sales of
an organisation by promoting healthier competition& designing right marketing mix.

 To standardize the products: Standardisation is the by-product of simplification of

products. It is an essential tool for product planning in order to improve productivity,
streamlined economic relations, facilitating transfer of technology, etc.

 To enhance profit: Product planning helps to enhance the short- term & long term
profitability through right investment on various product portfolios.

 To manage product diversification: product planning helps to handle diversified

products .As diversified products broaden the production base which benefits in the
form of growth & stability to an organisation.

New Product:
There are 3 types of new product:
 Copy of the existing product: There are many products without patent or other legal
hurdles which can be copied & marketed.
 Significantly modified product or product modification: Export opportunities
 Innovative Product/Innovation: A product which is entirely original & new to the
market.
Types of Innovations:
 Discontinuous Innovation: It introduces entirely new or very substantially different
products. Ex: First Airplane
 Dynamically continuous Innovation: These are innovations which introduce products
with significantly improved features to satisfy the need or products which enhance the
product applications & benefits.
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 Continuous Innovations: It refers to incremental improvements to existing products
such as improvement in quality, addition of new features.
Steps in New Product Development
Step 1 : Idea Generation
Objective is to Create a large pool of ideas as potential product options :
 New ideas for products
 New attributes for current products
 New Uses for current products
Ideas may be contributed by scientists, top management, R&D professional, customers,
sales force, dealers etc.
Step 2 : Idea Screening
Objective: Critically evaluate the ideas to isolate most attractive options.
Methodology: All ideas and innovations are evaluated by analyzing :
 Project Attractiveness: Strategic and Financial Attractiveness
 Capability to execute: Requisite skills and resources
Step 3 : Concept Development & Testing
All ideas that survive screening process is studied in details.
Objective here is to:
1. Develop the Product-Idea into a Product Concept
• Express the idea in a meaningful consumer terms
• Defining the concept in terms of
 Who/ For Whom? Target market
 What? Product features
 Why? Product benefits
 Where, When and how? Usage
2. Testing for Target consumer reaction by asking them to offer their
comments on product attributes and expected benefits.
Step 4 : Business Analysis
Objective: Analyze the viability of product ideas from business viewpoint. It is a
combination of cost benefit and profitability analysis. Estimation is done on :
• Overall demand forecast / Estimation of market size
• Operational Costs: Production cost, marketing cost
• Financial projections: Sales, Profitability and BEP.
Step 5 : Product Development
Objective: Analyze the viability of product ideas from business viewpoint. It is a
combination of cost benefit and profitability analysis. Estimation is done on :
• Overall demand forecast / Estimation of market size
• Operational Costs: Production cost, marketing cost
• Financial projections: Sales, Profitability and BEP.
Step 6 : Test Marketing
Objective: Test the Product as real products in a small segment of target market under
controlled test market conditions. Test Marketing Is also known as Pre-Testing.

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 Definition: Pre-Testing involves a research technique in which the product under study is
placed on sale in one or more of selected localities or areas, and its reception by
consumer is observed, recorded and analysed.
Step 7 : Commercialization
Objective: To launch the product and monitor early delivery/ market response

• Product Launch needs to be well planned and product Quality has to be

maintained. Decisions are taken on following product launch aspects:
 When (Timing):
• First entry, Parallel entry, Late entry
 Where (Geographic strategy):
• Role out the product in waves with different part of the markets
receiving products on different schedules/ all-out launch
 To Whom (Target Market prospect):
• Opinion leaders, Heavy users, Early adopters
 How (Introductory market strategy)- Action Plan

ORGANISING FOR NPD Process:

 New Product Committee

 Task Force

 Venture teams

Reasons for failure of New Products:

 The better mouse trap no one wanted: These are products which have some
uniqueness or some superiority but which failed to generate enough demand.

 The me-too product meeting a competitive brick wall: Products which are mere
imitations of competitor’s products may find it difficult to succeed in the market
because of intense competition from firms which established market share &
customer loyalty.

 Competitive one-upmanship: Even if a product is good, it may not succeed in the

market if not marketed effectively.

 Environmental Ignorance: Performance standards, safety norms, environmental

aspects, technology, customer preferences & demands, competitive environment, etc
should be considered since conception of the product idea to its launch.

 Technological dog products: These are products which fail to rise up to the
expectations of the customers.

 Price crunch: New products also fail because of mismatch between price of the
product & value of the product as perceived by the customers.
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PRODUCT STRATEGY OVER THE LIFE CYCLE

Product Life Cycle

PLC is an attempt to recognize distinct stages in the sales history of the product. Product’s
Sales Volume and Revenue follow a typical pattern of five phase cycle:
1. Introduction : Sales are starting
2. Growth : Rising Sales at increasing rate
3. Maturity : Rising Sales at decreasing rate
4. Saturation : Stable Sales
5. Decline : Falling Sales

1. Introduction : Product is introduced in the market.

Sales revenue begins to grow, rate of growth is slow. Profit is low or non existent as
Expenses are high on production, distribution and promotion. Products are bought on
trial basis. Product development and Design are critical factors.
Strategies for introduction stage: With regardto price & promotion, a marketer may
adopt any of the following strategies during the introduction stage:
 Rapid skimming: Companies may price their products very high & also promote the
products at a higher level.It is useful when consumer knowledge about the product is
low.
 Slow skimming: Marketers use this strategy when the product is not new to the
market & there is no threat of competition. Producers offer their products at a higher
price & the products are supported by a limited promotional budget.
 Rapid penetration: When the product is unknown to the market & the market size is
relatively large, companies adopt the rapid penetration strategy. Marketers offer the
product at a very low price & the product promotion budget is large.

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  Slow penetration: Marketers may offer the product at lower prices & the product is
supported by a limited promotional budget.The strategy is adopted when the product
is well known to consumers & when the market is very large in size.
2. Growth : Rate of increase in sales turnover is high.
Sales Volume are high despite increase in competition.
Profits increase at an accelerated rate. Manufacturing and distribution efficiency is
achieved. Product is well accepted by consumers and traders.
 Effective Distribution and Advertising are key factors.
3. Maturity: Sales increase at decreasing rate.
Profits reduce as intense competition put pressure on prices and increases marketing
expenditure. Marketers need to stimulate demand and counter competition through
advertising and sales promotions. Additional expenditure is involved in product
modification/ improvement / broadening product line.
Overall Marketing effectiveness is the key factor.
4. Saturation : Stable Sales
Sales are mainly replacement sales. Prices fall rapidly and Profit margins are low.
Marketers fight for market share. Substantial improvements is critical for cost
efficiency.
5. Decline : Falling Sales
Product is becoming obsolete and getting gradually displaced by new innovation/
trends. Prices fall rapidly as there is excess supply and marketers want to liquidate
stock at the earliest and exit. Cost control is undertaken to generate profits:
Through reduced distribution network and No promotional expenses
Conclusion:
Many products do not follow the life cycle given above. Time interval for each
stage varies from product to product. Some may remain in the stage of maturity
forever (salt). Marketers can alter the PLC through product improvements.
Implications:
PLC governs strategic marketing planning at all levels.
It also helps in formulation of pricing, promotion and distribution policies.
Customer Analysis

Factors influencing customer analysis are as follows:

 Cultural factor:

A) Culture: It refers to the set of attitudes, values, & beliefs associated with a
category of customers. Therefore, international marketers need to take into account
the diverse cultures across the world, while designing their strategies. Ex: In India,
McDonald’s has focused on innovative products & has changed its menu to suit the
tastes of local consumers. It launched India-specific items such as Mc Veggie burger,
Mc Aloo Tikki burger,Veg Pizza McPuff & Chicken McGrill burger.On the other
hand, it offers egg-less sandwich sauces to vegetarian customers, & vegetarian items
are prepared at a separate counter at its outlets.
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 B) Subculture: Within a culture, there may be subcultures that contain similar habits,
attitudes & beliefs of a customer. Marketing mix needs to be altered according to the
requirements of subcultures of various customers. Ex: A sari manufacturer may like to
advertise his kancheepuram silk sarees more in Chennai than in Delhi, due to cultural
preferences of varied customers.

 Social class:

A) Upper class: This class consists of customers who possess large amount of wealth
& buy from exclusive branded stores.

B) Upper middle class: These customers are well – educated & hold good positions in
various organisations. They prefer goods appropriate to their social status. Ex: Malls
like Shopper’s Stop & Lifestyle cater to such customers.

C) Middle Class: These customers usually work at the middle & junior levels in
organisations .They want value for money. Advertisements of products like “Tide”
are targeted at such customers.

D) Lower Class: These customers are primarily blue collared workers with little or no
education. They have no savings.

 Social Factors: It refers to family, friends & colleagues. They influence the buying
pattern of customers.

A) Reference Groups: There are two types of reference groups:

They are:

1) Primary reference group: This can be further divided into four categories:

a) Membership reference group: Individual customers hold membership to

certain groups where they frequently interact with other members of the group.

b) Aspiration reference group: An individual customer wants to be part of that

group & tries to incorporate the attitudes of those customers.

c) Disclaimant reference group: Although an individual is a member of a

particular group, the individual does not want to copy the actions of the group.

d) Avoidance group: an Individual neither holds membership to a particular

group nor likes the values & beliefs of the group.

2) Secondary reference group: These may be religious groups,trade unions or

professional associations.Each of these groups has opinion leaders who influence the
buying behaviour of its members.Ex: Max New York life Insurance distributed its
products in rural areas through grama sahayaks like teachers & social workers who
were opinion leaders in villages.
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 B) Family: Family members influence the buying decisions of each customer’s .Ex: A
commercial on television shows a man putting his baby to sleep.

 Personal Factors: These refers as follows:

a) Age & life cycle changes: Customers may be at different stages of their life
cycle based on whether they are single, married couples, couples with children, or
senior citizens. At each stage customer’s taste & preferences varies .Therefore,
marketers should keep in mind the stages in the life cycle of their customers. Ex:
LIC’s children’s plans & housing loans are targeted at young, married couples, while
pension plans are targeted at the older generation.

b) Occupation & Income: Occupation & income have a bearing on the buying
behaviour of an individual customer. Ex: A top executive of an organisation would
purchase branded clothes & vice versa.

c) Life style: It depends upon the work life, social groups & interests of an
individual.

d) Motivation: Fulfillment of one need leads to the other needs. However,

needs should be distinguished from wants. Ex: Hunger is a need, but having food in
branded restaurants is a want. Therefore, marketers should create wants in customers
& inculcate in them, the desire to fulfil these wants.

e) Perceptions: It is a process by which customers understand certain stimuli &

convert them into their thoughts. Ex: Individual’s opinion may differ with regard to
services in a particular saloon, based on their experiences at the saloon.

f) Beliefs & attitudes: An individual customer’s thought about a particular

product reflects his belief. Marketers should aim at neutralising negative attitudes &
alter their product mix to suit the needs & preferences of customers. Ex: Although
Coke was positioned as a drink for youngsters when it entered the Indian market, it
was later repositioned as a drink for the whole family.

COMPETITOR ANALYSIS

CLASSES OF COMPETITORS:
Competitors can be classified into categories based on:

 Generic competition: In this type of competition, companies compete for the same
disposable income of customers. Marketers compete to ensure that their products are
on the purchase list of customers with limited disposable incomes. Ex: Whirlpool
Corporation, manufacturer of various consumer durables.

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 Form competition: A company competes with all other companies which offer similar
benefits to customers. Ex: ITC competes with all tobacco companies etc.

 Industry competition: A company competes with similar products manufactured by

other companies. Ex: Maruti Suzuki competes with Hyundai.

 Brand competition: A company competes with companies offering products to the

same segments of market. Ex: Maggi Noodlescompetes with companies
manufacturing only noodles.

PROCESS OF COMPETITOR ANALYSIS

1. Identifying competition: Identifying competitors can be done based on the

products & services of a company. Being aware of new entrants into the industry
is essential while identifying competition. For example: Watch companies are
facing competition from mobile phones as more & more people are using them as
timekeepers. This may lead to mobile users stop purchasing watches in the future.

2. Analysing competition: Competition should be analysed based on different

criteria. Technological breakthrough can severely affect the competitiveness of a
firm. For Example: The innovation of USB technology caused a loss in market for
CD’s & Floppy disk.

3. Strategies: Efficiency in framing strategies helps a company to stay ahead in the

competition. Firms operating in the same market segments need to develop
distinguishing strategies to gain an edge over other competing firms. In order to
withdraw competition, firms should monitor the strategies of competitors
continuously & should formulate counter strategies to deal with competition.
Further changes in the operating environment need to be monitored by the
companies to grab opportunities.

Strategies such as cost leadership strategy, differentiation strategy, focus strategy,

generic strategy, etc.

4. Objectives: Objectives form the basis of the planning process & state the end
results to be achieved by an organisation. They can be long term or short term &
they depend on environmental factors. For setting objectives, organisations can
adopt either a top-down or bottom-up approach. While setting objectives for an
organisation, competitor’s objectives also need to be considered.

5. Strengths & weaknesses: Strengths are the distinctive competencies of a firm,

which give a comparative advantage to the firm in the marketplace. Some of the
sources of strength are technical superiority, skills of personnel, brand value in the
market & good distribution network. A weakness could be limitation of financial
resources, lack of management capabilities, poor marketing skills, etc.

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 6. Reaction pattern: The types of reaction from competitors can be varied. The
competitors can be classified as slow reactors, selective competitors, tough
competitors & unpredictable competitors.

PRODUCT DIFFERENTIATION
Marketers find it tough to make a decision about product differentiation when there are many
features of a product which can be used for differentiation. For example: A washing machine
can be differentiated based on its capacity( 3kg, 5kg,etc) or mode of loading clothes like front
loading, top loading, etc.

Product differentiation can be broadly categorized into two. They are:

1) Tangible Products: can be based on form, design, features, quality, durability, size,
reparability, etc:

a) Product form: Differentiation in product form can be done based on its physical
attributes like size, shape, etc. The sum total of physical attributes is the product
form.

b) Design: Customers prefer product designs, which reflect the

functionality/usefulness of the product. Differentiation of a product design can be
in the form of functionality or looks. Therefore, when a company wants to
differentiate its product by design, it should come up with innovative designs on a
regular basis.

c) Features: The features of a product are the characteristics that allow it to perform
certain functions. Companies can achieve differentiation of products by adding or
removing certain features of a product. Marketing research can help in identifying
the features which customers are looking for in a product. Ex: Wagnor

d) Product quality: The quality of a product refers to the extent to which a product
matches customers’ expectations. If the characteristics are in keeping with the
customers’ expectations. It is perceived as a quality product.

e) Durability: Customers are prepared to pay a premium if a product is durable.

However, the durability of a product varies with its nature & use. If the
technology used in the product gets quickly outdated, customers will not be
willing to pay a premium for its durability.

f) Size of package: Variations in the size or weight of a product can also be utilised
by marketers in differentiation.

2) Intangible Products (Service): For intangible products, it can be done through as follows:

a) Ordering ease: The ease with which consumers can order products they want can be a
differentiating factor used by players in the market. Ex: amazon.com, bigbasket.com, etc
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b) Delivery: Companies can also use the speed & care in delivering the product as a basis for
differentiation. Ex: Domino’s Pizza claims to deliver pizzas within the fastest time possible &
even has a money back guarantee in case of failure to deliver the product within the specified
time.

c) Installation: It can be another basis for differentiation, especially in industrial markets

where heavy equipments is purchased. Employees of a company are sent to install the
equipment at the client site.Ease of installation can also help the company in capturing the
market, especially when a new technology is introduced.

d) Guarantees: Guarantees relating to product functioning & after sales service can help the
companies gain a competitive advantage.

e) Financial arrangement: Some organisations have a tie-up with financial institutions to

provide loans for customers to purchase products through easy instalments.

f) Customer training: Some companies provide training for customers or the employees of
customers with regard to the usage of product. Some companies also provide a toll free
number for online assistance to customers & also to provide information about new products
& technology.

g) Maintenance & repair: Many companies provide after sales services such as maintenance
& repairs for their products. By providing satisfactory after sales services, companies can
attract customers to make repeated purchases.

POSITIONING

Product positioning is done in such a way as to project that the product of a company is
different from that of competitors & even different from the other products of the company.

Rooser Reeves explained that different brands of the same company should have unique
selling propositions. A USP can be any special attribute of a brand. Eg: Its quality, service,
price, value, safety provisions, customization, user friendliness, technology, etc.

A1 Ries & Jack Trout discussed various positioning strategies. Some of them are:

 Getting into the mind of the consumer: It is easy for the first mover in the market.
Consumers tend to remember more of the features of a product that is new to the
market than of similar products introduced later.

 Positioning of a leader: Some companies may be leaders in a market because they are
the first or early entrants in the market rather than due to their marketing strategies.To
maintain the leading position, market leaders need to position their products
intelligently in the consumers’ mind.Market leaders should adopt the strategy of

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 introducing multiple brands to satisfy the changing needs of consumers.This would
cost the leader less than repositioning the existing brands in the market.

 Positioning of a follower: When the company is not the first entrant in the market, it
can position its product based upon some unique feature which other marketers have
not already claimed as their USP.

 Power of name: Positioning of a product is easy when it has a suitable name.For

example, names like Kinder Joy, Pepper fry,etc suggest the utility of the product &
have greater recall value among customers.

TWO MARKS

1. What is competitor analysis?

2. What is customer analysis?

3. What is product positioning?

4. What is product differentiation?

Eight Marks

1. Explain the process of competitor analysis.

2. Explain the product positioning strategies.

Fifteen Marks

1. Explain the factors influencing design of a product.

2. Explain the new product development process.

3. Explain the reasons to failure of NPD.

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 UNIT-3

MARKET POTENTIAL & SALES FORECASTING

Target market selection process:

Evaluating the market segments: While evaluating market segments, marketers should
consider the potential of segment & their ability to tap it. The evaluation of a particular
segment by marketers should be in accordance with the fulfilment of the organisational
objectives.

Selecting the market segment: A company need to evaluate the different market segments
before selecting particular segment. Targeting the right market segment is tough in the highly
competitive business environment. Marketers should select those segments with optimum
potential to cater to the target customers.

Single segment concentration: Targeting a single segment can benefit the marketer with high
sales as all his marketing efforts are concentrated on the segment. However, if the customers
of the segment stop patronizing the product for some reason, the marketer will face severe
losses. The marketer can serve a single segment successfully if improvisations are made to
the product in keeping with changes in tastes & preferences of customers.

Selective specialisations: When a company selects a few market segments to operate in

instead of a single segment, it is called selective specialisation. The company develops
products to fulfil the needs of a few selected segments, thereby minimizing the risk of
depending on a single segment. Even if one segment becomes unattractive, other segments
can compensate for the overall profits of the organisation. Ex: Unilever Ltd has different
detergent brands like Wheel & Surf Excel, each of which targets people of different income
levels.
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Product specialisation: Specialising in the manufacture of a single product category &
supplying it successfully to different segments of the market earns a company a good
reputation. However, there is a risk involved in product specialisation. If a competing firm
develops a breakthrough, it can replace the existing product in the market.

Market specialisation: It is different from product specialisation in that involves

concentrating on a customer group & catering to different needs.

Full market coverage: Some companies target the full market instead of concentrating on
segments. Ex: Hewlett Packard offers printers for all segments from home usage to heavy
duty colour printers.

Ethical choice of market targets: Marketers should not try to influence people to consume
products which are not good for them. Ex: It is unethical to encourage children to consume
high fat foods or to promote lotteries to poor people.

Segment interrelationships & super segments: Marketers can take the advantage of the
interrelationships between segments by targeting all the related segments as a super segment.
They should use the similarity in segments to increase sales.

Segment by segment invasion plans: Marketers can plan to invade one segment after another
so as to finally capture the super segment. This helps in not revealing the steps of
organisations to competitors.

Inter segment cooperation: With mutual cooperation & information sharing between the
various segments targeted by the marketer, developing marketing programs to serve
customers of each segment efficiently is possible.

SALES FORECAST

A sales forecast is an estimate of sales, in dollars or physical units, in a future period under a
particular marketing program & an assumed set of economic & other factors outside the unit
for which the forecast is made. A sales forecast may be for asingle product or for an entire
product line.

SALES FORECASTING METHODS

A sales forecasting method is a procedure for estimating how much of a given product or
product line can be sold if a given marketing program is implemented.

1) Jury of executive opinion: There are two steps in this method: A) High ranking executives
estimate probable sales, & B) An average estimate is calculated.

The assumption is that the executives are well informed about the industry outlook & the
company’s market position, capabilities, & marketing program. All should support their
estimates with factual material & explain their rationales.

Companies using the jury of executive opinion method do so for one or more or four reasons:
21
a) This is a quick & easy way to turn out a forecast.

b) This is a way to pool the experience & judgement of well-informed people.

c) This may be the only feasible approach if the company is so young that it has not yet
accumulated the experience to use other forecasting methods.

d) This method may be used when adequate sales & market statistics are missing, or when
these figures have not yet been put into the form required for more sophisticated forecasting
methods.

2) The Delphi technique: Researchers at the Rand corporation developed a technique for
predicting the future that is called the Delphi technique. The panel of experts responds to a
sequence of questionnaires in which the responses to one questionnaire are used to produce
the next questionnaire. Thus, information available to some & not to other experts is
disseminated to all, enabling all to base their final forecasts on all available information.

3) Poll of sales force opinion: It is also known as grass root approach, individual sales
personnel forecasts sales for their territories; then individual forecasts are combined &
modified, as management thinks necessary, to form the company sales forecast.This approach
appeals to practical sales managers because forecasting responsibility is assigned to those
who produce the results.

4) Projection of past sales: The simplest is to set the sales forecast for the coming year at the
same figure as the current year’s actual sales, or the forecast may be made by adding a set
percentage to last year’s sales or to a moving average of the sales figures for several past
years.

5) Time series analysis: This involves isolating & measuring four chief type of sales
variations such as long term trends, cyclical changes, seasonal variations & irregular
fluctuations. For most companies, time series analysis finds practical application mainly in
making long range forecasts. Prediction on a year to year basis, such as are necessary for an
operating sales forecast. Only where sales patterns are clearly defined & relatively stable
from year to year is time series analysis appropriately used for short term operating forecasts.

6) Exponential smoothing: It is a type of moving average that represents a weighted sum of

all past numbers in a time series, with the heaviest weight placed on the most recent data.

7) Regression analysis: The three major steps in forecasting sales are:

* Identify variables causally related to company sales

* Determine or estimate the values of these variables related to sales.

* Derive sales forecast from these estimates.

22
INTERNATIONAL MARKETING:

According to the American Marketing Association “International marketing is the

multinational process of planning & executing the conception, pricing, promotion &
distribution of ideas, goods & services to create exchanges that satisfy individual &
organisational objectives.”

International marketing is defined as exchange of goods & services between different

national markets involving buyers & sellers.

NEED FOR INTERNATIONAL MARKETING

1. International interdependence of countries & growing world population: Self

sufficiency in all respects is not attained by any country in the world. Due to
geographical & other factors, no country can produce all its requirements. There is
international interdependence due to which every country has to import certain goods
& export goods, in order to pay for imports.

2. No uniform geographic & climatic conditions: There is no uniformity of geographic

& climatic conditions in all countries. A country does not have the capacity to
produce all the goods required by it. Due to natural & other economic factors, a
country can import the goods, which it is not in a position to produce.

3. No uniform production cost: International marketing is needed because the production

cost in all countries is not same. Every country can produce certain commodities with
low production cost because of some favourable factors. Exchange of goods on the
basis of comparative cost is beneficial to all countries.

4. Increasing needs & better standard of living: International marketing is needed to

fulfil the increasing needs of consumers for production & improved products & for
providing good standard of living to the people.

5. Need of developing closer economic & cultural cooperation: International marketing

is needed for developing closer economic & cultural cooperation between different
countries. Thus, the global resources can be used fully at the global level.
International marketing is required for economic integration among the countries of
the world.

6. Problem of surplus production & scarce production in some countries: International

marketing is needed because of surplus production in some countries & scarce
production in some other countries.

7. Bridging gap between developed & developing nations: International marketing helps
in exchange of goods & services & helps in transfer of technical know-how & skills,
thereby accelerating the development of developing countries.
23
 8. Economic growth of developing countries & peace in the world: International
marketing is needed for quick economic growth of developed & developing countries.
It helps in transfer of technology & quick industrial development in developing
countries.

OBJECTIVES OF INTERNATIONAL MARKETING

1. To bring countries closer for trading purpose & to encourage large scale free trade
among the countries of the world.

2. To bring integration of economies of different countries & thereby to facilitate the

process of globalisation of trade.

3. To establish trade relations among the nations & thereby to maintain cordial relations
among nations for maintaining world peace.

4. To facilitate & encourage social & cultural exchange among different countries of the
world.

5. To provide better life & welfare to people from different countries of the world. In
addition to provide assistance to countries facing natural calamities & other
emergency situations.

6. To provide assistance to developing countries in their economic & industrial growth

& thereby to remove gap between the developed & developing countries.

7. To ensure optimum utilisation of resources ( including surplus production) at global

level.

8. To encourage world export trade & toprovide benefits of the same to all participating
countries.

9. To offer the benefits of comparative cost advantage to all countries participating in

international marketing.

10. To keep international trade free & fair to all countries by avoiding trade barriers.

METHODS OF ENTERING A NEW MARKET

The following are some of the popular ways of entering international markets:

 Direct exports: Companies may sell their products in foreign markets with the help of
middlemen situated in these markets. Companies may also set up sales offers in the
overseas markets instead of appointing middlemen as distributors.

 Indirect exports: It is a process of exporting goods to foreign markets with the help of
a domestic intermediary.

24
  Licensing: It is a form of providing access to a patent or a trademark to some other
company by charging a fee or royalty. The licensee helps gain access to the
manufacturing process or trade secrets of the licensor. With this knowledge, the
licensee operates manufactures the product/ offers the service in the foreign country.
Licensing is also an easy way of entering new markets.

 Joint venture: The Company desiring to foray into a foreign market enters into a
partnership or joint venture with a company existing in that country. The partner may
be a majority or minority stakeholder in the newly formed joint venture. The
partnership may take place between companies belonging to the same industry or
different industries.

 Internationalization process: The process of internationalisation refers to the entry

modes & timing strategies of a company.When the company’s product reaches the
maturity stage in the domestic market, it might attempt to enter new markets by
exporting the product.

FORECASTING/ EVALUATING OF TARGET MARKET POTENTIAL:

 First phase: It involves analysing the macro environmental factors of different

markets such as the political, legal, geographic & economic environment.

 Second phase: Analysing market, product acceptability & customer perceptions form
the second phase of screening potential markets.

 Third phase: It involves analysing factors such as barriers to entry, cost of exit,
number of competitors, availability of skilled labour, etc.

 Fourth phase: This forms the last stage of forecasting market potential: It involves
ranking the potential markets depending upon profit potential, level of investments,
expected sales, etc.

TWO MARKS

1. What is international marketing?

2. What is market segmentation?

3. What is sales forecast?

4. What is sales potential?

EIGHT MARKS

1. Explain the methods of entering new market.

2. Explain the needs of international marketing.

25
FIFTEEN MARKS

1. Explain the target market selection process.

2. Explain the methods of sales forecasting.

UNIT-4

BRAND MANAGEMENT

Meaning And Definition of Brand

in Marketing, a brand is the symbolc embodiment of all the information connected with a product of
service. A brand typically includes a name, logo, and other visual elements such as images, fonts ,
colour aschemes, or symbols.

According to American Marketing Association,

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

Functions of Brand
1)Functions of brand to consumers: from the customers’ perspective various functions of
brand are as follows:

i) Identification of source of product: Brands identify the source or maker of a product.

26
ii) Assihnment of Responsibility to product maker : Brand allows consumers to assign
responsibility to a particular manufacturer or distributor. Most important, brands take on
special meaning to customers.

iii) Risk Reducer :Brands can reduce the risks in product decisions. consumers may perceive
many different types of risks in buying and consuming a product:

a) Functional Risk: The product does not perform up to

expectations.
b) Physical Risk: The product poses a threat to the physical well-
being or health of the user or others.
c) Financial Risk: The product is not worth the price paid.
d) Social Risk: The product results in embarrassment from others.
e) Physchological Risk: The product affects the mental well-
being of the user.
f) Time Risk: The failufre of the product results in anopportunity
cost of finding another satisfactory product.
Although there are a number of different means by which consumers cope is to buy
well-known brands, especially those brands with which consumers have favourable past
experiences. Thus, brands can be a very important risk-handling device, especially in
business-to-business settings where these risks can sometimes have quite profound
implications.

iv) Search cost Reducer: Brands allow consumers to lower search costs for products
both internally( in terms of how much they have to think) and externally (in terms of
how much they hav to look around).

v)Promise, Bond, or Deal with Maker of Product: The relationship between a brand
and the consumer can be seen as a type of bond or deal. Consumer offer their trust and
loyalty with the implict understsnding that the brand will behave in certain ways and
provide them utility through consistent product pereformance and appropriate pricing,
promotion and distribution programs, and actions. To the exent that consumers realize
advantages and benefits from purchasing the brand, and as long as they drive
satisfaction from product consumption, they are likely to continue to buy it.

vi)Symbolic Device: Brands can serve as symbolic devices, allowing consumers to

project their self-image.Certain brands are associated with being used by certain types of
people and thus reflect different values or traits. Consuming such products is a means by
which consumers can communicate to others- or even to themselves- the type of person
they are or wouldlike to be.

vii) signal of Quality : Brands can also play a significant role in significant role in
signaling certain product characteristics to consumers. Researchers have classified
products and their associated attributes or benifits into three major categories:

27
a) Search Goods: With search goods, products attributes can be
evaluated by visual inspection (e.g., the sturdiness, size, colour,style,weight and
ingredient composition of a product).
b) Experience Good: With experience goods,products attributes-
potentially equally important- cannot be assessed so easily by inspection, and actual
product trial and experience is necessary (e.g., as with durability, service
quality,safety, and ease of handling or use).
c) Credence Goods: with credence goods, products attributes may
be rarely learned (e.g., insurance coverage). Because of the difficulty in assessing
and interpreting products attributes and benefits with experience and credence
goods, brands may be particularly important signals of quality and other
characteristics to consumers for these types of products.

2) Functions of Brand to firms: From the firm’s perspective various functions of

brand are as follows:
i) Mean of identification to simplify Handling or Trancing :
Fundamentally, they serve an identification purpose to simplify
product handling or tracing for the firm. Operationally,brands help to organise
inventory and accounting records.

ii) Means of legally protecting unique Features:

A brand also offers the firm legal protection for unique features or aspects of the
products. A brand can retain intellectual property rights, giving legal title to the
brand owner.
iii)Signal of quality Level to satisfied customers: Brands can signal a certain level
of quality so that satisfied buyers can easily choose the product again. This brand
loyalty provides predictability and security of demand for the firm and cretes
barriers of entry that make it difficult for other firms to enter the market.

iv) Means of Endowing products with Unique Associations:

Investments in the brand can endow a product with unique associations and
meanings thst differentiate it from other products.
v) Source of competitive Advantage: Although manufacturing processes and
product designs may be easily duplicated, lasting impressions in the minds of
individuals and organisations from years of marketing activity and product
experience may not be so easily reproduced.

vi) Source of Financial Returns: Much of the recent interest in brands from senior
management has been a result of these bottom-line financial considerations. For a
typical fast Moving consumer goods (FMCG) company, the vast majority of its
corporate value is made-up of intagible assets and goodwill- net tangible assests
may be as little as 10 per cent of the total value. Moreover, as Much as 70 percent of
their intangible assets can be made-up of brands.

28
 Brand Perspectives
1) visual or verbal perspective: The visual and verbal aspect of
the brand serves important function of indentification and differentiation.
Symbols helps in brand recognition and brand recall while visual image leave
imprints in visual memory of the prospects even at the processing level. For
example, Stong communication between colour and brands helps prospects in
choosing or retrieving or re-calling brand name upon seeeing colours. Red
connects with colgate and coke, blue is tied to pepsi, yellow reminds one of
Kodak, and pink reminds one of Hutch.
2) Positioning perspective: Postitioning is creating a unique
position in the prospect’s mind to succeed in the over-communicated society. A
brand must create a positon in the prospect mind that sets it apart from the most
of the players in the category. The branch must own a word first. The role of
working is invariables in this context is to help, establish postion in the prospect
mind in a co-ordinated way. For ex: In the soap category: “Liril” is positioned
as the freshness soap where “Dove” is positioned as not only the soap but the
moisturising base and also “Detol” is an anti-septic soap. It is the uniqueness
that keeps them ahead in the race. The branch is nothing more than a position
occupied in the perceptual space of the consumer.
3) This perspective is based on the
Value perspective:
value added by the brand in making the product more
satisfying. A brand is more than the sum of its
components/parts. It embodies for the purchases or use
additional attributes which might be considered by some to
intangible or still very real. Thus, a brand is commodity
augmented by added values making it more acceptable to
consumer. There are two types of values that brand offer:
i) Function/performance value: It refers to performance aspect of
the brand that is what it does at the functional level. (For ex:
Tide – isase behather safedi koyi nahi deta).

ii) Expressive value: It reflects the customer side of brand.

Companies state more about the customers and less about the brand.
(For ex: Raymonds-the complete man).

4) Brand Image Perspective: Object reality does not matter but what
matters is perception about the product. This perspective talks about the brand
image of product in the market. A brand is not what it is actually: it is rather
29
what it is perceived at. Hence image building is a crucial task for Brand
Manager. It is the brand image that would steer the customer either towards the
brand or away from the brand. Image perspective lays stress on the symbolism
or imagery aspect of a brand. It is the imagery over and above the physical
product that make brand more relevant or meaningful to consumer. Brand-
image building is the effort to differentiate the brand psychologically rather than
physically.

5) Perceptual Appeal Perspective: This approach views the buyer from

the consumer behavior perspective. The human psychological make-up could
be visualized to be consisting of senses, emotional satisfaction, and utilitarian
and economic value depending upon the consumer. A brand could be
combining their appeals in a judicial manner. Thus, a brand may be rational,
sensory, emotional, or a combination of that. It is proposed that “there are three
sorts of appeal; they are all interrelated and each brand has a different blend of
the three – an appeal to the senses, an appeal to the reason, and appeal to the
emotions.”

6) Personality Perspective: Defining a brand in terms of human being.

Either company gives these traits to the brand or customer give those traits by
experience. For ex: Fair & Lovely (Feminine), Fair & Handsome(Masculine),
Scooty (Feminine), and Bike (Masculine).

Brands are embedded with personality. Consumer perceives personality traits

in brands. The brand may be perceived as masculine, sophisticated, friendly,
dependable young. It is visualization of a brand as a person. The fundamental
assumption in governing the personality perspective is that a brand could be
made to have personality characteristics which would attract customers in the
target market. Markets often use celebrities to create brand personality
accordingly. Certain trades of the brand ambassador would get associated with
that brand.

TYPES OF BRANDS

1) According to Ownership: On the basis of ownership, brand may of two types:

i) Manufacturer’s Branch: When brand is named after the name of the

manufacturer of the product, it is known as manufacturer’s brand. Use of
30
Philips on all the products of Philip’s Company like Philips Radio, Philips T.V.,
Transistor, Bulbs, etc. is an example of manufacturer’s brand.

ii) Middlemen’s Brand: Under this type of brand, manufacturer does not use
any brand for his product. Instead, distributors like wholesalers, retailers, etc.
sell the product under have own brand. Actually, this type of brand is not a
popular in our country because we do not have large distributors like U.S.A and
U.K etc.,

2) According to the Market Area: According to the market area, the brand may
be of the following five types:

i) Local Brand: When brands are used for local market, it is called local brand.
Under this type of brand, different brands are used in different markets.

ii) Provincial Brand: When one brand is used for a particular province or State
it is called provincial brand. Different brands are used in different States for the
same product.

iii) Regional Brand: Under this type of brand, manufacturer uses his brand
name only in a particular region. Different names for different regions are used.
Under this, the whole market is divided into different regions such as East,
West, North, South and Central regions, etc.

iv) National Brand: When manufacturer uses his product’s brand for selling his
product throughout the country, it is called national brand.

v) International Brand: When the same brand is used for selling the product in
all the countries of the World it is called International brand.

3) According to the Number of Products: A brand may be of the following three

types on the basis of number of products:

i) Family brand: When the manufacturer uses a single brand for all his
products and in all market segments, it is known as family brand. For ex: all the
products of Bajaj Group are marketer with the brand name of Bajaj such as
bulbs, tube light, scooter, pin, toaster, table and ceiling fan, geyser, etc.,

ii) Product Line Brand: When the business or industrial houses use different
brand names for their different product lines it is called product line brand. For
ex: ‘Dalda’ is used for Vanaspati Ghee product line and ‘Super Surf’ for
31
detergent powder line by the same manufacturer is the example of product line
brand.

iii)Individual Brand: When individual product is market different brand names

for the product, produced by the same manufacturer, is called individual brand.
For ex: toilet soaps produced by the Hindustan Lever Limited bear different
brands for the different products is the same product line, for ex: Lifeboy, Lux,
Lux Supreme, Rexona etc.,

4) According to Use: Under this category, brand may be of two types

i) Fighting Brand: When there is very tough competition in the market and the
producer wants to introduce a new product which has quite a different
characteristic from that of competitors brand and which gives as impression of
such a difference, it is called a fighting brand. For ex: ITC Ltd., has recently
introduced ‘Now’ brand cigarette.

ii) Competitive Brand: When the brand introduced in the market is almost
similar to those of competitors, such a brand is known as competitive brand.
For ex: Moti Soap, Nirma Soap, 555 Soap etc., are all having similar
characteristics.

The tabular difference between brand and the product are discussed below :

Brand Product

1.A brand is emotional.It satisfies an 1. A product is physical.A product

emotional need for recognisition and fulfils a functional /physical need.
association with particular set

2.”Brand” is the face of the company 2.”Product” is whatever company is

selling in the market to generate
revenue(using its face value).

3.brand represents a “general promise 3.product represents a specific

of quality,ease of use,etc.”for products offering(e.g-ipod,nano)
associated iith the brand (e.g apple)

4.A brand is a symbolic manifestation 4.Product is anything that can be

of all the information connected with a offered to the market that may satisfy
the need ,want and demand of a certain
32
company,product or services
5.A brand is always how an
object,such as a product is perceived
.The size and shape of a brand is
defined by its constitutuents.
6.Brand refers to the set of company’s
symbol,colour,goal(brand taglines),and
an organisation carries-out in order to
create either an image of the company
in the mind of prospective
users/buyers.
7.brand is a name,image or idea which
we associate with certain product or
services ,it is the way we see,feel,and
expect something frm he
product/service itself
8.Brand is the trade name which is
given to a product or service is called a
brand .A brand often includes An
explicit logo,colour schemes,symbols
and sound which is developed to
represent values,ideas,and even
personality.The key objective is to
create a relationship of trust.
9. For Example:McDonald’s,Coca-
Cola,Pepsi,etc.
BRAND IMAGE DIMENSIONS
Brand image has three dimensions.There are as follows:
33
,individual or market
5.A product is always something that
exists objectively .It is created .It
comes into being and enters the
marketplace.
6.Product refers to goods/services
offered by an organisation to satisfy
the needs ,want and demand of a
certain individual or market.
7.products is the goods or service
which we need and desire in
comparison with the brand .it helps us
to differ service/product frm that of the
competitors and to gve/or not to give
preference to certain product
8.O n the other hand product is
merchandise-commodities offered for
sale-“good business depends on having
good merchandise”;that store offers a
variety of products .
9.For example, Hamburger,Fries,and
soft drinks
  Image of a corporate or company: A brand is what it is because of the company that
makes it. Sometimes, brand image is influenced by the manufacturer’s name besides
the brand’s own personality.

 Image of the user: Users are the association between a brand& the perceived
socioeconomic & personality characteristics of the stereotypical user of the brand.

 Image of the product: The image is a result of the products performance. This in-turn
depends on is ingredients.

BRAND IDENTITY

Brand identity is the outward expression of the brand, including its name &
visual appearance.The brand’s identity is its fundamental means of consumer
recognition & symbolizes the brand’s differentiation from competitors.

According to Aaker & Joachimsthalersss” Brand identity is a set of associations,

the brand strategist seeks to create or maintain.”

NEED FOR BRAND IDENTITY

1. To deal with the problem of communication: Brand proliferation has

helped to identify the need for brand identity is explained by the problem
of communication.

2. To deal with the problem of marketing similarities: When a brand is

created, it defines anew standard of brand existence.

3. To create differentiation: The concept of brand identity provides the tool

to define the difference.

4. To convey that the business is established: A logo & professionally

printed materials show that the business is committed to the customer. It
also makes the business look like it has been around for some time, &
that it is stable.

5. To attract more customers: Some customers look for a well defined

company & brand would be one of their criteria in making a purchasing
decision.

6. To increase credibility: A logo of a brand makes the business look

experienced & professional, & can go a long way towards making the
business appear credible.
34
 7. To be more memorable: Brand helps the customers to identify the
particular product easily in the market.

8. To describe an unusual line of business: If the business is non traditional,

a brand can help to explain exactly what it is that the business do by
offering a visual reference.

Brand Identity versus Brand Image

Sl Brand Identity Brand Image

No

1 It develops from the source or the company It is perceived by the

consumer

2 Brand message is tied together in terms of Brand message is untied

brand identity by consumer in the form
of brand image

3 The general meaning of brand identity is The general meaning of

“Who yoy really are?” brand image “How
market perceives you?”

4 Its nature is that it is substance oriented or Its nature is that it is

strategic appearance oriented or
tactical

5 It symbolizes firm’s identity It symbolizes perception

of consumers

6 It is enduring It is superficial

7 It is active It is passive

8 It is total promise that a company makes to It is total consumer’s

consumers perception about the
brand.

BRAND EQUITY

35
Brand equity can be defined as the stored value built up in a brand for achieving
competitive advantage.

According to Aaker” Brand equity is a set of brand assets & liabilities linked to
a brand, its name & symbol add to or subtract from the value provided by a
product or service to a firm &/or to that firm’s customers”

SOURCES OF BRAND EQUITY

 Market Research: Introducing brand in the market needs quantities or

qualitatiuve research to get familiar with the trends & different attributes.

 Quality: New product must incorporate quality ingredient because first

impression is the last impression. If the customers are satisfied with the
quality of your product then customers will suggest other people to go for
this product by sharing good thoughts.

 Marketing mix: The proper use of marketing mix adds value in the brand
marketing. Promotion & personal relation increase brand equity.

 Brand extension: To polish the brand, bring some new products &
services under the umbrella of same brand name. Ex: LG refrigerator &
mobile phones.

 Customer Opinion: Always look for customer opinion because they know
the best & worst about the product. EX: Procter & Gamble ask for the
customer idea for their product through their customer portal.

 Protecting the brand equity: The brand name can be established &
compete among the competitors brand only if the quality match the
perception of the customer.

BRAND REJUVENATION
To recover & reposition brand in mind of consumer when it is not working
successfully is known as Brand rejuvenation or Brand Revitalisation.

Methods for Brand Rejuvenation

1. Re-Invent the experience: The people who work for the brand are most important
& need to commit to the new organisational & brand refinement.

36
 2. Product/ service innovation: Innovation is also a key part of any brand
revitalisation strategy.Eg: Mc Donald’s McNuggets

3. Re-establishing the brand promise: Redefine the brand promise with a relevant,
dynamic experience that supports the new purpose & goals & gives the brand
action to get to its new experiential destination.

4. Re-building trusts: Brands that have been beaten down need to re-establish trust.

5. Leadership: It needs the courage & perspective of strong leaders.

6. Expanding brand awareness: With a fading brand, often it is not the depth of
brand awareness that is a problem- consumers can still recognise or recall the
brand under certain circumstances.

7. New uses that revitalizes old brands: Mature brand manufactures are increasingly
researching & developing ways to market uses for their products.

8. Improving brand image: Anew marketing program may be necessary to improve

the strength, favourability,etc in the brand.

1.1.13 Brands versus products

It,s important to contrast a brand and a product.According to Phillip Kotler ,a
well regarded marketing academic,a product is anything that can be offered to a
market for attention,acquisition,,use,or comsumption that might satisfy a need
or want.A brand is therefore a product,but one that adds other dimensions that
differentiate it in some way from other products designed to satisfy the same
need.These differences may be rational and tangible-related to product
performance of the brand-or more symbolic,emotional intangible-related to
what the brand represents.

In marketing,product is anything that can be offered to the market that may

satisfy the need,want,and demand of a ceratin individual or market .It is also
called as goods or services.Products is more than just a material object .It is also
an inclusive package of benefits or satisfactions that the consumer or buyer may
achieve upon purchase or usage.

Branding Challenges and Oppurtunities

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The reality is that although brands may be as important as ever to
consumers,brand management may be more difficult than ever.Although there
has been growing recognisition of the value of brands a number of development
have occurred in recent years that have significantly complicated marketing
practices and pose challenges for brand managers with due oppurtunities,which
are

1.Saavy customers:Increasingly,consumers and businesses have become more

experienced with marketing and more knowledge about how it works.A well
developed media market has resulted in increased attention paid to the
marketing actions and motivations of companies .Consumer information and
support exists in the form of consumer guides(eg-Consumer reports),and so
on.Consulting firm brand keys conduct annual survey and has found that
customer expectations of what they want frm brands are on average 13% higher
than what they think brands will deliver for them,and the gap is growing

2.brand Proliferation:Another important change in the branding environment

is the proliferation of new brands and products ,in the part spurred by the rise in
line and brand extensions .As a result ,a brand name may now be identified
with a number of different products of varying degress of similarity .procter and
gamble’s original crest toothpasteintroduced in 1955,has been joined by a series
of line extensions over the years,such as Crest mint(1967),AdvANCED
Fformula crest(1980),Crest gel (1981),Crest tartar Control (1985),Crest for
Kids(1987),Crest neat squeeze(1991) and in the last few years Crest
whitening,Crest Multicare and Crest multicare Advanced
Cleaning.Similarly,Coca cola now comes in diet,caffeine-free and cherry
flavoured forms.With so many brands having introduced extensions there are
few single(or”mono”)product brands around,complicating the marketing
decisions that have to be made

3)Media Fragmentation: An important change in the marketing environment

Is the erosion or fragmentation of traditional advertising media and the
emergence of interactive and non-traditional media ,promotion an other
communication alternatives.For a no of reasons marketers have become
disenchanted with traditional advertising media especially network
television.First,the cost of network tv hs risen dramatically in many
countries.since the mid 1970s,the price of network TV advertising in the United
states has far outspaced the rate of inflation but without accompanying increases
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in audience size.Second,commercial breaks on network TV have become more
cluttered as advertisers increasingly have decided to advertise with 15second
spots rather than traditional 30 or 60-second spots.Third the growth of
independent stations and cable channels has resulted in a dramatic erosion of the
network share of audience (from 91% in 1975 to under 60% by
2000).Fourth,the increase in remote control ,VCRs and accessories such as
TiVo-and the resulting zipping,zapping,grazing and channel surfing,in the
popular vernacular-has further reduced TV advertising effectiveness

For these and other reasons,the percentage of the communications budget

devoted to advertising has shrunk over the years .In its place ,marketers and
spending more on non traditional forms of communication such as interactive
,electronic media;sports and event sponsorship;in-store advertising;mini-
billboards in transit vehicles,on parking meters and in other location and
product placement in movies.

4)Increased Competition:One reason marketers have been forced to use so

many financial incentives or discounts is that the marketplace has become more
competitive.Both demand -side and supply side factors have contributed to the
increase in competitive intensity. On the demand side, consumption for many
products and services has flattened and hit the maturity stage, or even the
decline stage, of the product life cycle . as a result, sales growth for brands can
only be achieved at the expense of competing brands by taking away some of
their market share.

On the supply side, new competitors have emerged due to a number of factors,
such as the following:

1)Brand extension:Many companies have taken their existing brands and

launched products with the same name into new categories .Many of these
brands provide formidable opposition.

2)Deregulation:Certain industries(e.g,telecommunications,financial
services,health care and transportation)have become deregulated leading to
increased competition from outside traditionally defined product market
boundaries.

3)Globalization:Although firms have embraced globalization as a means to

open new markets and potential sources of revenue,it has also resulted in an

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increase n the number of competitors in existing markets,threatening current
sources of revenue .

4)Low-priced Competitors: Market penetration of generics,private labels,or

low priced”clones” imitating product leaders has increased on a worldwide
basis.Retailers have gained power and often dicate what happens within the
store.Their chief marketing weapon is price,and they have introduced and
pushed their own brands and demanded greater compensation from trade
promotions to stock and display national brands.

5)Increased costs:At the same time that competition is increasing,the cost of

introducing a new product or supporting an existing product has increased
rapidly ,making it difficult to match the investment and level of support that
brands were able to receive in previous years.A.C Nielsen and NPD have been
jointly maintaining a database of trial and repeat trends for the average
consumer products.Product trial,defined as a household buying a particular
consumer packaged goods product atleast once during its introductory year,was
around 15% in the latter half of the 1970s,but had dropped below 10% by the
1990s.

6)Greater Accountability:finally,marketers often find themselves responsible

for meeting ambitious short term profit targets because of financial market
pressures and senior management imperatives.Stock analysts value strong and
consistent earnings reports as an indication of the long term financial health of a
firm.As a result,marketing managers may find themleves in the dilemma of
having to make decisions with short term benefits but long term costs(e.g
cutting advertising expenditures).Moreover many of these same managers have
experienced rapid job turnover and promotions and may not anticipate being in
their current posiyions for very long.These different organizational pressures
may encourage quick-fix solutions with perhaps adverse long run consequences.

TWO MARKS

1. Define brand.

2. What is brandequity?

3. What is brand Identity?

4. What is brand image?

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 5. What is brand rejuvenation?

EIGHT MARKS

1. Distinguish between brand image & brand identity.

2. Explain the branding challenges & opportunities.

FIFTEEN MARKS

1. Write a note on Brand rejuvenation.

2. Write a note on branding challenges & oppoetunities

UNIT-5

BRAND LEVERAGING AND BRAND PERFORMANCE

BRAND KNOWLEDGE The brand knowledge is the combination of several

factors like brand awareness, brand image, and brand association. These factors
together from brand knowledge. Brand awareness serves as the base for brand
knowledge.

The meaning of brand awareness is that consumer knows that brand exists in
the market. Brand image refers to the association that a particular brand has in
the consumer’s mind. These associations may be functional (nimboozs –
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‘Ekdum Desi Indian’, the refreshing drink) as well as emotional (Mountain Dew
– ‘Dar Ke Aage Jeet Hai’, the adventurous drink). Brand requires creation of
strong, favourable, and unique of brand image are evaluated by consumers
rationally or emotionally or both. Now the ultimate attachment a brand loyalty
of consumer depends on the evaluation part. The more positive and attainable
these evaluations will be the more attachment and brand loyalty will be at the
side of of consumers and vise versa

Advantages of Brands to Consumers

1) Brands facilitate the identification of products at the point of
purchase.
2) The assure consumers of a uniform quality standard that can
always be relief on.
3) Brands offer a measure of protection to consumers because
they usually identify the manufacturer or supplier.
4) Brands give consumer greater freedom of choice in where
they buy the product. For example, Panado tablets will be the
same at all pharmacies.
5) Brands lead to improved products due to competition and
continual product differentiation.
6) Brands simplify the purchasing transaction because
consumers are familiar with the trademarks.
7) Brands can serve as a warning against repeat purchases if the
first purchase and use of the product proved disappointing.
8) Brands simplifying consumer problem-solving and
information processing.

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 9) Brands help consumers feel good about their purchases.
Brands have social benefits for consumers.
10) Brands improve consumer value (whether branding brings higher or
lower prices, it still ensures value for money).

11) Brands insure consumer risks (brands provide ‘insurance’

satisfaction

And quality assurance standards)

12) Brands provide consumers with choice (competition implies a variety from
which consumers can make their individual selections to match their needs most
closely)

Advantages of Brands to Firms

1)The brand often forms the cornerstone of the marketing communication and
merchandising decisions and the whole product image is structure around the
brand name

2)products that are marketed on a self service basis rely heavily on brand
appeal.

3)Products and particularly the brands have to be pre-sold through

advertising,so that the consumer will recognize and select those products on
retailers shelves.

4)Branding can help the manufacturer or middlemen to influence is/her market

share

5)branding hampers price comparisons between competing products beacuase

products are no longer equal in all respects

6)Brands facilitate the use of non-price competitive strategies,such as product

diffrentiation,although,of course,price competition can never be eliminated
completely

7)Brand trademark facilitate product diversification is certain respects.A new

product item can e.g,be added with greater ease to a known product line as
compared with one that has trademark.

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8)Strong brands command a higher price points and higher margins

9)Strong Brands embody a clear,valued and sustainable point of difference

10)Strong brands offer internal focus and clarity within an organisation.

11)Brand strength is a lever for attracting the best employees and keeping
satisfied employees.

12)Brands promote competition (consumers gain from brands competing

strongly for their patronage).

Advantages of Brands in functional Areas

1)Brnads require and thus create ,horizontal diffrentiation.Branding offers
assortments of added values-both in terms of services and psychologically.

2)Brands require and thus create,vertical diffrentiation(consumers want goods

of the best qualiity they can afford and they would like choices of different level
of qualiity to suit different need and situation).

3)Brands provide reliability and thus re-assurance (the brand/consumer

relationship provides re-assurance that the manufacturer will look after the
consumer’s best interest since It is also in interest of any manufacturer who
intends to build the brand over the longer term).

4)Branded products are fit for the use for which they are advertised(consumers
do not buy brands for sale of buying but to solve a problem or to meet a need 0

5)Brands subsidize consumer usage of media and sporting arts,and other events
through advertising and sponsorship.

Disadvantages of Brand
1)Cost:If anyone wishes to create and maintain a strong brand presence,it can
involve a lot of design and marketing costs.A strong brand is memorable,nut
people still need to be exposed to it,this often requires a lot of advertising and
PR over a long period of time,which can be very costly.

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There are also costs involved with the creating of a brand image or logo (paying
for a designer,printing new letterfield/business cards,etc),and although most of
these are only one off costs,they are still relatively large for most small
businesses.

The exposure of the brand can be left to word of mouth,,this will save one’s
money,but will also greatly slow down the exposure the brand receives.

2)Impersonal:One of the main problems with many branded businesses is that

they lose their personal image.the ability to deal on a personal basis with
customers is one of the biggest advantages small business have,and poorly
designed branding could give customers the impression that the business is
losing its personal touch.

3)Fixed image:Every brand has a certain image to potential customers,and part

of that image is about what products or services individual sell.If individual are
known for selling,just one product and he/she wants to sell another product,will
individual be able to do so effectively ?

If individual sell compueters,would the brand name be suitable for selling

vaccum cleaners?If your brand is focused too strongly on one product,it can
limit the ability to sell other products.

4)Timescale:The process of creating a brand will usually take a long period of

time .As well as creating a brand and updating the signs and equipment(e.g-
stationery,vehicles,etc),one needs to expose it to the potential customers.

It is commonly shown that people need to see an advertisement atleast three

times before they absorb it,which means individual will need to advertise and
promote the brand for a considerable amount of time before it will become well
known.

ELEMENTS OF BRAND MANAGEMENT

Elements of brand management include following points to study:

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1)Brand equity: Brand equity refers to the marketing efforts and outcomes
that accrue to a product with its brand name compared with those that would
accrue if the same product did not have the brand name

2)Brand knowledge:Brand knowledge refers too the knowledge that a consumer

has over the brand.Brand knowledge measures are sometimes called “customer
mind-set”measures because they capture how the brand is perceived in the
customers mind.

3)Brand identity:A visible element of brand (such as

colours,design,logotype,name and symbol)that together identifies and
distinguishes the brand in the customers mind is termed as brand identity.

4)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

5)Brand Building :Brand building means enhancing a brands equity directly

through advertising campaigns and indirectly through promotions such as cause
championing or event sponsorship

6)Brand Awareness:Brand awareness means the extent to which a brand

associated with a particular product is documented by potential and existing
customers either positively or negatively

7)Brand association:brand association is anything which is deep seated in

customer’s mind about the brand .Brand should be associated with something
positive so that the customers relate your brand to being positive.Brand
associations are the attributes of brand which come into consumers mind when
the brand is talked about.

8)Brand personality:Brand personality is the way a brand speaks and

beahaves.It means assigning human personality traits/characteristics to a brand
so as to achieve differentiation.These characteristics signify brand behavior
through both individuals representing the brand(i.e-its employees)as well as
through advertising,packaging etc.

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9)Brand positioning-Brand positioning means the process by which marketers
try to create an image or identity in the minds of their target market for it
product,brand or organization.

10)Brand Communication:Brand communications is all about realizing the

brands potential in the marketplace.Translating the marketing strategy into
tactical integrated communications both online and offline,from promotional
literature,direct mail,employee information,websites,digital applications and
packaging to sponsorship collateral.

Meaning and defitionof Brand Positioning

Positioning is a platform for the brand .Positioning is the art of creating a

distinct image for a product in the minds of the customers.Positioning is a
concept,which is commonly seen in marketing .Positioning is the act of
designing the company’s offerings and image to occupy a distinctive place in
the target market’s mind.the essence of brand positioning is achievement of
valued distinction/differentiation in a consumers mind.The perceived
differentiation takes care of the competitive angle and the value aspect takes are
of customer motivation.It is the single feature that sets the service apart from the
competitors For example kingfisher stands for youth and excitement .It
represents brand in full flight.

According to Aaker ,”Brand positioning is a part of brand identity and value

proposition that is to be actively communicated to the target audience and that
demonstrate an advantage over competing brands”.

Need for Brand Positioning

Brand positioning in simple words means to position the brand or some
important products of the company to make it more presentable and known to
the customers.This definition can be considered as right one .The concept of
brands has become very famous amongst people and they require the product
or services of a renowned brand .The need for brand positioning can be
explained with the help of following points :

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1)If the business actually needs to make its services or products to gain the
category of brands ,it needs to make them accessible to people in such way that
they start recognizing the brand name by the products or services it offers .It
makes the brand to gain popularity and streamline the processes of sales in a
well defined manner.

2)It can also be taken as refurbishing or re-branding of the product in such a

way that will make it dirrent and uniquely defined than all other products of the
sam kind .This will really make the products to get under the exclusiveness
category and it is a great thing to make the brand or product a renowned name
in any industry or market

3)It will go a long way in helping to measure that real strength of the brand.This
can be considered as form of stock taking strategy.This mode will help to know
how farther the business has gone and where it exactly reach in the competitive
market .A proper understanding of present position business will go a long way
in helping it on the steps to take for moving its products and brand beyond the
present state.It is an effort to give all the products and brand beyond the present
state .It is an effort to give all the popularity which it thinks is good as choice
for making the brand to reach top position.

4)Brand positioning will also help the business to sufficiently judge the way
customers judge its products in comparison with other very competitive brands
available with the same products or services .Ofcourse ,the business will be
accosted with strong competition as there is rarely any niche that does not
require the right means to market and with the proper identification and
implementation of brand postion,it will be able to keep the brand in a position
where it will rarely be affected by the impending disaster of strong opposition
and competition

Factors Affecting Brand Positioning

1)Brand Attributes:What the brand delivers through features and benefits to

consumers?

2)Consumer Expectations:What consumers expect to receive from the brand ?

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3)Competitor Attributes:What the other brands in the market offer through
features and benefits to consumers?

4)price:Price is an easily quantifiable factor against competitors.

5)Consumer Perception :The perceived quality and value of your brand in

consumers minds(i.e,does the brand offer the cheap solution,the good value for
money solution,the high end,high-price tag solution,etc)

Characteristics of Strong Brands

Some brands consistently score high on strength .They are all strong
brands.Strong brands have great equity and enjoy customer loyalty and
profits.Every manager wants to create a strong brand.what do top brands have
in common which can provide a benchmark against which a brand can be
measured?There are ten attribute shared by top brands:

1) Deliver Excellent Customer Benefits:The brands tangible and intangible

components must be combined to create value or benefits that customers
desire.The brand must be an excellent provider of these benefits.

2) Stay Relevant:With time,customers change.A brand’s tangible and intangible

components need to be fine –tuned to stay relevant.

3)Pricing is based on perception of value:Price is an important brand

attribute.Charging too high or too low a price may not be appropriate .Make
sure price is based on how customers view the product as a whole.

STEPS OF BRAND BUILDING

 Clearly articulate the brand identity: Brand identity means what the brand means to
the customer.Brand identity sets the customer expectations.EX:- Walmart’s
“Everyday Low Prices”

 Establish a customer value proposition: Customer value proposition is the natural

outcome of the brand identity.Ex: Customers think of Wal-Mart as place to get great
bargains.

 Define the optimal customer experience: Identify all contact points where customers
interact with the company.To create a holisticbrand experience, individual needs to
create a consistent & compelling experience at each of these touch points.

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  Cultivate relationship with customers: Companies need to respond positively to
customers feedback & that will turn causual customers into loyal customers, loyal
customers into customer champions.

 Strengthen the brand over time: Enhancing the level of customer brand relationship
will have a direct impact on the brand.Marketer must have a time bound plan to
improve the levels of relationship which the customers enjoy with the company/
brand.

CO-BRANDING
Co-Branding is the practice of using multiple brand names together on a single product or
service.The term can also refer to the display of multiple brand names or corporate logos on a
single website, so that people who visit the site see it as a joint enterprise.

PRE-REQUISITES OF CO-BRANDING

 Both brands are easy to identify based on their product or trademark.

 There is a symbolic relationship between the two brands.

 Brands are compatible with each other.

 Both brands should have identical personality characteristics.

CELEBRITY ENDORSEMENT

A form of brand or advertising campaign that involves a well known person using their fame
to help promote a product or service. Manufacturers of perfumes and clothing are some of the
most common business users of classic celebrity endorsement techniques, such as television
ads and launch event appearances, in the marketing of their products.

BRAND PORTFOLIO MANAGEMENT

Brand portfolio includes all types of brand viz. Brands & sub brands as well as
co-brads with other firms.

TYPES OF BRANDS IN PORTFOLIO

1. Strategic Brands: A strategic brand or a mega brand is a currently

dominating brand that represents a meaningful future level of sales &
profit.

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 2. Linchpin Brands: A linchpin brand unlike strategic brand not necessarily
represents a meaningful future level of sales & profit but it is a leverage
point of a major business area.

3. Silver Bullet: It is a brand or sub brand that positively influences the

image of another brand. It can be powerful force in creating, changing &
maintain a brand image.

4. Cash cow brand: It do not require any investment because it has a

significant loyal customer base. It is to generate marginal resources that
can be invested in other brands.
TWO MARKS

1. What is co-branding?

2. What is brand positioning?

3. What is brand portfolio?

EIGHT MARKS

1. Write a note on co-branding.

2. Explain the steps of brand building.

3. Explain the sources of brand equity

FIFTEEN MARKS

1. Explain the steps of brand building.

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 UNIT-6

DESIGNING & SUSTAINING BRANDING STRATEGIES

Brand Hierarchy:

Brand Extension: Brand extension is the application of a brand beyond

its initial range of products or outside of its category.This becomes
possible when the brand image & attributes have contributed to a
perception with the consumer where the brand & not the product is the
decision driver.

TYPES OF BRAND EXTENSIONS:

Brand extensions are of two types:

1. Related extensions: A new product is launched with similarities of

parent product. Ex: Dettol soap launching a dettol hand wash.

A. Category related extension: It is the other name of variant.Ex:

Dove oily soap launching dove dry.

B. Image related extension: Brands are extended on the basis of

image of its parent brand.

2. Unrelated extension: Brand may be extended into unrelated product

categories.Ex: Honda was the brand synonymous with motorcycles
but later they diversified into automobiles.

BRAND EXTENSION APPROACHES

1) Enhance the existing product with additional features & benefits:

The enhancement might include new features &/ or performance
improvements. These changes can be based on a customer needs
assessment or a competitive matching strategy.

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 2) Introduce higher or lower priced versions of the product: Price may
be inhibiting factor for some prospective customers. It may broaden the
market for the brand.

3) Extend the product range: Extending the range of an existing

product-line allows building on the reputation & success of the existing
brand to sell more products through the same sales channels.

4) Segment the market with product variants: This strategy is based

on the refinement of existing products to meet the different requirements
of distinct market sectors.

5) Introduce Niche products: A niche market is a small, specific

market sector identified by some special, common characteristic. This
approach typically delivers lower volumes-a niche market-but higher
prices.

6) Introduce private label products :a private label sale is the practice

of licensing the product ,in standard or modified form, to other
companies to sell under their own brands ,rather than under the
companies brand name.

7) Building additional products or services from third parties: An

existing product can be sold in combination with additional products or
services from a third party. This practice is referred to as bundling.

8) Responding to competitive product actions: In a competitive

market place, a strategy of matching or responding to the actions of
competitors is sometimes necessary.

BRANDING STRATEGIES
1. Integrated branding: The retailer is involved in process beginning
from idea generation to branding the product. Here the retailer makes
the decision regarding what kind of product he wants.

2. Independent branding: Retailer simply procures from the supplier at

the lowest possible cost & the entire branding investment is his
own.The retailer is like the owner of the brand & holds complete
responsibility for its performance.

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 3. Line Branding: The line responds to the concern of offering one
coherent response under a single name by proposing many
complementary products.

4. Range Branding: It bestow a single brand name & promote through a

single promise a range of products belonging to the same area of
competence.

5. Umbrella Branding: It is a parent brand that appears on a number of

products that may each have separate brand images.

6. Endorsement Branding: It makes the product brand name more

significant & corporate brand name is related to lesser status.

MANAGING BRAND OVERTIME

Managing brand is nothing but an art of creating & sustaining the brand promise
to their customers. Branding makes customers committed to their business.

Managing the brand is a long term process, which suggests that the brand idea
needs to enter the systems of organisation rather than being the crusade of alone
individual. While the commitment & enthusiasm of certain people will be
fundamental to the initial embedding there is no guarantee that those individuals
will have the same jobs or responsibilities in the future. Thus, the importance of
brand workshops & champions in sustaining the brand & the responsibility of
individuals to use the brand is in their day to day work.

TWO MARKS

1. What is brand extension?

2. Give the meaning of managing brand over time.

EIGHT MARKS

1. Explain the brand extension approaches.

2. Explain the branding strategy.

FIFTEEN MARKS

1. Explain the branding strategies in today’s world.

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