Developing a Successful Brand Name

1. Value of Branding

1.1. Both buyer & seller benefit from branding

1.1.1. – Encourages Repeat purchase – Facilitates Promotional efforts – Introduce new products – Brand loyalty – Familiarity – Favor-ability – Product selection > Identification > reduced purchasing time – Self expression – Evaluate the quality – Psychological

2. 3 Degree of Bran Loyalty

2.1. Brand Recognition

2.2. Brand Preference (Substitute will be accepted )

2.3. Brand Insistence No substitute accepted

2.4. Awareness > Familiarity > Repeat purchase

2.5. Quality > Favor-ability > New Product trial

3. Brand Equity

3.1. The assets linked with the brand name & symbol that add value to the product or service

3.2. Defined as the marketing effects or 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.

4. Name

4.1. The part of a brand that can be spoken, including letter, words & number.

4.2. 1) Easy to remember,

4.3. 2) Distinctive

4.4. 3) Indicate major benefits, and

4.5. 4) Positive around the world

5. Definition

5.1. A name, term, sign, symbol. design or combination of them which is intended to identify x goods & service of a seller.

6. Mark

6.1. The part of a brand not made of words

7. Trademark

7.1. A legal designation of exclusive use of brand

8. Trademark piracy

8.1. A brand name & trademark symbol/logo are protected by law of they are legally registered

8.2. It giv the owner sole right to use them any way he/she chooses

9. What make a Brand? B - Branding

9.1. – Jingles/Sounds – Slogan – Characters – Logo/symbold – URLs – Brand name