PROM/AD BRANDING

PROM/AD BRANDING

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Open Ended

What is a brand for you?

Brand

is a name, term, sign, symbol or design, or a combination of these, that is intended to identify the goods and services of one business or group of businesses and to differentiate them from those of competitors

Brands

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Branding 

is a combination of tangible and intangible attributes symbolised in a trademark, which, if properly managed, creates influence and generates value. 

Open Ended

What do you think is the main importance of brand to companies or businesses?

Brand Equity

refers to the value of a brand. Brand equity is based on the extent to which the brand has high brand loyalty, name awareness, perceived quality and strong product associations. 

Brand Image

refers to the set of beliefs that customers hold about a particular brand. 

Brand Extension

refers to the use of a successful brand name to launch a new or modified product in a new market.

Open Ended

Can you name an example of a company that practices brand extension? Name examples of their products.

Importance of brand extension

Brand extension is a strategy used in marketing. A company which is already branded in the market with a pre-defined image will make use of the same brand name to market a different product category. By using the new product category linked with the existing brand name, the market reach of the new product can be made easy. Since the market is already aware of the existing products that are associated with the brand, the new product will reach out faster to the customers.

Sub Branding

when a new brand is combined with an existing brand

Parent Brand

when a new brand is combined with an existing brand

Family Brand 

when the parent brand is already linked with many products through many brand extensions

Types of Brand Extension

Line Extension

When the same brand is used to launch a product in a different way.
It can also indicate the resizing of the product.

Open Ended

Name at least 2 examples of a product that uses line extension

Product Extension

When the company launches an entirely new product

Extension of customer franchise

Based on the customer group, the product range is extended. This type of extension basically targets a specific group of customers.

Extension of company expertise

Based on the expertise of the company, the company launches product category that makes use of the same name. 

Open Ended

Name at least one company that practiced extension of its expertise.

Extension of brand distinction

There exist many brands that are unique with respect to the benefits. These brands are mainly highlighted with respect to the benefits that they offer to the customers.

Example where brand extension is success

Dove

It was mainly known for soaps. But now it is extended to many products like shampoo, deodorant and body wash. The brand extension of the dove for the new products has been a great success.

Adidas

The company started its brand of shoes. Later they launched many products related to footwear, clothing, accessories, and sports.

Titan

The company started its brand for watches, later positioned itself into the Titan house of jewelry, watches, eyewear and leather products.

Example where brands extensions is failure

Colgate Kitchen Items

This brand extension was a failure as it was not accepted to associate Colgate with meal as it was associated with oral and personal care.

New Coke

https://www.cbsnews.com/news/30-years-ago-today-coca-cola-new-coke-failure/

 Importance of Branding in the Digital Age

https://youtu.be/COTWv2y1S-Y