MPR22 , Intro to branding

• Branding

  • Identifies the source or maker of a product and allows consumers to assign responsibility to a particular manufacturer or distributor
• Brand elements

  • Brand name
  • URLs
  • Logos and symbols
  • Characters
  • Slogans
  • Jingles
  • Packaging
• Criteria to choose brand elements

  • Memorability
  • Meaningfulness
  • Likeability
  • Transferability
  • Adaptability
  • Protectability
• Product

  • Anything that can be offered to a market to satisfy a want or need ( physical item , experience , service, etc )
• Key differences between products and brands

  • Focus
  • Competitive advantage
  • Tangibility
  • Image

  Example: toothpaste ( the product ) , Colgate ( the brand )
• Benefits of branding

  
  

  Consumers

  • Reduces the amount of time buyers spend on shopping
  • Helps consumers judge quality

  Businesses

  • Helps business introduce a new product with the same brand name
  • Aids in promotional efforts , indirectly promotes others with the same brand