ANSARI FARAZ AHMAD MOHAMMAD ASIFROLL NO:- 05

MMS – II MarketingAIAIMS

PRODUCT VS BRAND

Submitted to – Prof. Dr. R.K. SRIVASTAVA

A product is something that is made in a factory.

A brand is something that is bought by a customer.

A product can be copied by a competitor.

A brand is unique.

A product can be quickly outdated.

A successful brand is timeless.

Anything that can be offered to a market to satisfy a want or need. It is usually judged on

(1) product features

(2) services mix & quality and

(3) price appropriateness. Core benefit, Basic product, Expected product, Augmented

product, Potential product.

UnsoughtUnsoughtProductsProducts

UnsoughtUnsoughtProductsProducts

SpecialtySpecialtyProductsProductsSpecialtySpecialtyProductsProducts

ShoppingShoppingProductsProducts

ShoppingShoppingProductsProducts

ConvenienceConvenienceProductsProducts

ConvenienceConvenienceProductsProducts

ConsumerConsumerProductsProducts

ConsumerConsumerProductsProducts

BusinessBusinessProductsProductsBusinessBusinessProductsProducts

PRODUCTSPRODUCTSPRODUCTSPRODUCTS

Product line – a group of closely related product items.

Product mix – all products that a firm sells.

Width – refers to how many different product lines the firm carries.

Depth – refers to how many variants of each product are offered.

It’s the company’s definition of what they have to offer. A brand is a product that has a personality. A promise to the customer. What the customer knows about your specific product. It’s

your image. How the company or product is perceived?

A set of product perceptions by the consumer. It is a personality developed over time. A brand signifies a relationship with the customer. It is the company’s most valuable asset. It’s also the main

differentiator, the best defense against price competition, and the key to customer loyalty.

Competitors can copy your features and benefits, but they can’t steal your brand.

It’s a promise. But it must be backed up by performance.

Brand = Micromax

Model Series = Canvas

Canvas, Canvas 2, Canvas HD,

Canvas Music, Canvas 4.

99

Product Product IdentificationIdentification

Product Product IdentificationIdentification Repeat SalesRepeat SalesRepeat SalesRepeat Sales New Product New Product

SalesSalesNew Product New Product

SalesSales

A brand is much more than a name—it’s a symbol, trademark, logo, term, sign, design or combination, which distinguishes a product from others.

Sets a company’s products apart from competition. It’s the perception of the product in the minds of the consumers.

Your first opportunity is in the name. Easier to order and remember.

Most important is consistency—globally too.

One of the most important components of defining your company is defining your brand. To become successful, you need to make sure that your logo is recognized instantly. Not only is this important for advertising reasons, but it is important as your company continues to grow. The trick is figuring out how to develop your company’s brand strategy to make sure it’s up there with the big name brand superstars. Let’s take a look at a few of these companies and how you can learn from their branding tactics.

Examples:

1. Micromax has successfully generated innovative technologies that have revolutionized the telecom consumer space.

2.    Mercedes promises well-built, prestigious, safety, performance.

3.    Co branding/Dual branding: "Intel inside."

APPLEApple is the quintessential example of what brands strive to be like. Apple is associated with products that are easy to use, simple, and high quality. The brand is known to be representative of a way of life, leading its customers to say proudly, “I’m a IPHONE user.” Apple did not use traditional methods to become a company with some of the most loyal users. Instead, they used emotion to connect with their customers. Apple’s design was focused on making a person’s life easier through its products. They showed their customers they were trust worthy and reliable. Apple’s focus on human connection made its brand representative of a friend more than just a business. Not many companies can say that.

Marketing Takeaway: Communicate with your customers in a way that earns their trust and loyalty and makes them want to tell others about your brand.

A product is made by a company and can be purchased by a consumer in exchange for money while brands are built through consumer perceptions, expectations, and experiences with all products or services under a brand umbrella. For example, Toyota’s product is cars. Its umbrella brand is Toyota and each product has its own more specific brand name to distinguish the various Toyota-manufactured product lines from one another. Without a product, there is no need for a brand.

A product can be copied by competitors at anytime. When Amazon launched the Kindle e-reader device, it didn’t take long for competitors to come out with their own branded versions of an e-reader product. However, the brand associated with each e-reader device offers unique value based on the perceptions, expectations, and emotions that consumers develop for those brands through previous experiences with them.

Similarly, a product can be replaced with a competitor’s product if consumers believe the two products offer the same features and benefits. Products with low emotional involvement are typically easily replaced. For example, do you really care what brand of milk you buy or do you primarily just care that the milk you buy is fresh and includes the fat percentage that you want?

It becomes a brand the moment a consistent branding strategy is set in place and people begin to make the connections. A brand is not as elusive as you might think. A brand is a consistent message that is triggered in a consumer’s or client’s mind.  Every time they see or hear X they think Y.  In a way it is basic theory.  Think of the most common examples:  the golden arches — McDonalds.  Mouse ears —Disney.

MESSAGEo In order for a product to become a brand it needs several

things to be in place. First is the messaging. What do you want people to think when they are triggered?  Messaging can say quality; it can say speed of service; great taste; low price… anything that is a positive thought about your product or service is a possible message that can be wrapped into your Brand.

LOOKo Second consider the Look. Brand look is the colours, words,

and other details that will be the trigger to your messaging. It will be how you are first perceived and it is important that it is attractive, appropriate and in line with your messaging.

o A little blue bird — twitter: short bursts of shared conversation –tweets. This is a perfect micro package of message coupled with brand look. This is an integrated strategy. Having a brand strategy works for huge global companies and for small local companies.

DELIVERYo Your Message needs to be clear. Your Look needs to be

consistent. But the process doesn’t stop there. The message and the branded look are only as good as the delivery.  How will you deliver the new brands look? How will you get people to see the relationship between your message and the new logo, jingle, or signature product? Will you use social networking, print media, word of mouth, special offers? Which delivery method will resonate with your customers?

o Every time a customers and potential customers sees the branded advertisements, looks at the logo in a social network post, or reads a comment the brand reputation grows.  Each time the Brand is becoming stronger in their minds.

Turning or Translating Brand Awareness

Into Brand Insistence.AIDA=

Awareness Interest Desire Action