Naming a brand: The importance of a name
Summary :
Table of Contents
- Introduction
- The meaning of brands
- Brand equity
- Brand image
- Brand extension
- Types of brands
- Manufacturer brands
- Own label brands
- Key factors in building brands
- Quality
- positioning
- Repositioning
- Communications
- First-mover advantage
- Long-term perspective
- Internal marketing
- Brand extension and brand stretching
- Conclusion
Abstract
"What's in a name? A rose is a rose and would smell as sweet even if called by any other name"
These famous words from Shakespeare's Juliet send us into raptures, but marketers and consumers would not respond to this reasoning favorably. Brands rule over the marketer and consumers' minds. Enormous resources, time and energy are spent in building and nurturing brands. Why? A brand distinguishes the products and services offered by one seller from another.
A company may be armed with all the statistics and facts as to why their product or service is superior - but if it doesn't have an image, a personality for the audience to connect with - their message falls flat. What you are selling is always more than the product or the service. It's a personality, a face with which your target customers want to do business. Thus, the success of branding lies in truly understanding who you are and who your target audience is.
The cigarette brand Charms' pack has a unique indigo blue print, like faded jeans fabric. The package design was intended to strike a cord with young customers who identified it with 'freedom', because jeans symbolized freedom. Marketers use "slender tall" bottles to communicate feminine qualities.
Brands create a perception in the mind of the customer that there is no other product or service on the market that is quite like yours. A brand promises to deliver value upon which consumers and prospective purchasers can rely to be consistent over long periods of time.
These famous words from Shakespeare's Juliet send us into raptures, but marketers and consumers would not respond to this reasoning favorably. Brands rule over the marketer and consumers' minds. Enormous resources, time and energy are spent in building and nurturing brands. Why? A brand distinguishes the products and services offered by one seller from another.
A company may be armed with all the statistics and facts as to why their product or service is superior - but if it doesn't have an image, a personality for the audience to connect with - their message falls flat. What you are selling is always more than the product or the service. It's a personality, a face with which your target customers want to do business. Thus, the success of branding lies in truly understanding who you are and who your target audience is.
The cigarette brand Charms' pack has a unique indigo blue print, like faded jeans fabric. The package design was intended to strike a cord with young customers who identified it with 'freedom', because jeans symbolized freedom. Marketers use "slender tall" bottles to communicate feminine qualities.
Brands create a perception in the mind of the customer that there is no other product or service on the market that is quite like yours. A brand promises to deliver value upon which consumers and prospective purchasers can rely to be consistent over long periods of time.
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