Thursday, 25 September 2014

Branding

According to American Marketing Association, A brand is defined as a name, term, design, symbol, or any other feature that identifies one seller's goods or service as distinct from those of other sellers. The legal term for brand is trademark. A brand may identify one item, a family of items, or all items of that seller. If used for the firm as a whole, the preferred term is trade name.
Post It is a product of 3M and was launched in 1977. This was an entirely new product in the market. On year after its launch it raked in more than US $2 million in sales.

BRAND NAME - POST IT
TAGLINE - Organize and prioritize at home, school or the office.
LOGO -
Why this brand name?
Point of Parity - In a particular product category, the features that are similar between the product and its competitors. 
Point of Difference - In a particular product category, the features that differentiates a brand with its competitors. 
POP and POD of 3M and other sticky notes (Big Logonotes, Stick it or not notes, Sticky Notepads, etc) - 
Points Of Parity
  1. Both are sticky notes.
  2. Same target group.
  3. Same pricing strategy.
Points Of Difference
  1. Global brand.
  2. Quality is better (Post It).
  3. Comparatively more variants.
Brand Equity
According to American Marketing Association, brand equity is a phrase used in the marketing industry to try to describe the value of having a well known brand name, based on the idea that the owner of  a well known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well known name is better than products with less well known names. 
Brand asset valuator model - This model suggests that there are four key components of brand equity.
Energised differentiation - Measures the degree of which the brand is seen differently.
Relevance - Measures the appropriateness and breadth of the brand's appeal.
Esteem -  Measures the perception of quality and loyalty.
Knowledge - Measures the brand awareness. 






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