Ch 14 The art of Advertising & Branding Product Association • You deserve a break today, so get out and get away at __________ • No More Tears • Nobody doesn't like ______. Product Association • Like a good neighbor _____ is there • You’re in good hands with __________ Just Do it! Finger lickin good • Let your fingers do the walking • M’m m’m Good • When you care enough send the very best • Snap, crackle, Pop • It takes a licking and keeps on ticking • Melts in your mouth and not in your hand • Advertising is a multibillion dollar industry (more than $100 billion a year) in the U.S. • Individuals, political candidates and their parties, organizations and groups, and the government also advertise. • Politicians use ads to try to win votes. • Manufacturers try to persuade people to buy their products. • Business firms use advertising to promote an "image" for their company Objectives • A. Describe what makes an effective brand • B. Explain how companies use Brands • C. Describe how brands come alive • Combinations of unique qualities of a company product, or product line. • Impressions and experiences you associate with a company Brand Elements • Brand identity- representations that are instantly recognized. • Brand Name – brand that can be spoken, such as a word, a phrase, a letter or a number or a combination •Brand Mark- Brand Symbol or Logo distinctive symbol, design, sound or group of letter that be seen or heard but not spoken. Trade Characters • Use personified symbols to reinforce their brand identifies. • Characters or cartoons that seem life like • USA Today involving nearly 700,000 participants chose the nation’s most popular advertising icons. Four of the five top finishers—the M&M characters, Mr. Peanut, The Pillsbury Doughboy, and Tony the Tiger— represented food companies. • Evoked set- short list of brand names you think of when a product is mentioned • Repetition- Another method of trying to evoke brand recall- easiest method – Is the frequency of encountering the advertisement and the frequency of the brand name Customers think of shoes they think of Nike. Also recognize the name and symbol Adhesive Bandages • Slogan & Jingles- another method used for brand recall – Catchphrase meant to help you remember a name is a slogan • The power to be your best.- Apple • Life’s messy. Clean it up! – Bissel • When it absolutely, positively has to be there overnight. – Jingle is the same just set to music – Advertising jingles • Combination of name, logo, personality, and all the associations and impression consumers have about the product. – – – – – – Easily identifiable Easy to read and remember Creates appealing image Distinctive & adaptable Legally available Appropriate for packaging(short) Benefits of Branding • Builds name recognition • Makes purchasing decision easier • Communicates strong consistent message • Create trust and emotional attachment • Increase sales • Allow good brands to charge higher prices • Brand Promise – Consistent delivery brand characteristics and values at a consistent level of service everywhere Brand loyalty – Consumers are willing to pass up other brands for the one they want most. • 3 levels: • Brand recognition- consumers are aware of a brand when they see it. • Brand preference– Consumers would rather have a particular brand but will buy something else if not available • Brand insistence • Consumers will absolutely buy one brand only, no substitutions • Corporate brands -Is the practice of using a company's name as a product brand name. • Marketing various products or services under the name of a company. – "Disney" is in the name of many of its products – Gap is the name of its store and products they sell. – Nike is the name of its store and products they sell. • Product brands- Is the brand name of the product being sold. • Each product carries individualized symbols or logos and some have advertising slogans associated with the product alone. • Pepsi Co. owns – – – – Frito Lay Brands Tropicana Brands Quaker Brands Gatorade Brands Product Branding Pepsi Co. brand Types of Branding • Distributor brands/ Manufacturer’s brand – Line of product designed for a particular Retailer • Martha Stewart sold exclusively at Kmart • Kenmore products only sold at Sears • Chris Madden sold only at JCPenny Private Brands • Referred to as the store brand. • A brand placed on products that a large manufacturer has created for a smaller retailer. EX: Whirlpool makes Kenmore appliances for Sears.Packaged plainly – Prices typically cheap Types of Brands • Family branding- is a marketing strategy that involves selling several related products under one brand name. . Individual Branding- different products with different names owned by one company. Branding Strategies • How to use brands to achieve business objectives – – – – Co- Branding Brand licensing Brand extension Brand positioning Brand Strategies • Brand extensions – Existing brand creates a new or improved product line. • Co branding – Join forces to sell each others products. Merge of two independent brands Brand Strategies Brand Licensing • Allows a company to use another brand name, logo , or character. • Disney allows McDonald’s to use their various images and logo to help sell happy meal products Brand positioning • The way the consumers see the brand as compared to competitive brands. • What makes this brand special or different?