1. How do you define a BRAND!
A brand is a name, sign, symbol, slogan or anything that is used to identify and distinguish a specific product, service, or business. Each and every person is a brand by itself.
2. What is Brand Parity
Brand parity is the perception of the customers that all brands are equivalent
3. Define co-branding
Co-branding, also called brand partnership, is when two companies form an alliance to work together, creating marketing synergy
4. Define Derived branding
When a supplier of a key component, when being used by a number of suppliers of the end-product, may wish to guarantee its own position by promoting that component as a brand in its own right. Example is Intel, which secures its position in the PC market with the slogan "Intel Inside".
5. Define Brand equity
Brand equity is an intangible asset made out of the BRAND.
- It can be leased or sold
- It increases the cash flow by increasing market share , reducing promotional costs etc
- It allows premium pricing
Brand equity can be measured by – determining the premium a brand commands over a generic product. This can be used for brand extensions and sub-branding where in its leveraging on the already existing brand name. Strong brand equity means a good Brand loyal customer base.
6. Define Brand Architecture.
Brand architecture is the structure of brands within an organizational entity. It is the way in which the brands within a company’s portfolio are related to, and differentiated from, one another.
7. What are the levels of brand architecture
There are three key levels of branding:
· Corporate brand/ umbrella brand/ family brand
· Endorsed brands, and sub-brands
· Individual product brand
8. Explain the understanding of Corporate brand
Examples include TATA, Virgin Group etc.
These are consumer-facing brands used across all the firm's activities, and this name is how they are known to all their stakeholders – consumers, employees, shareholders, partners, suppliers and other parties. These brands may also be used in conjunction with product descriptions or sub-brands: for example TaTa Steel,Tata Nano
9. Explain the understanding of Sub-brand
Examples include Nestle KitKat, Cadbury Dairy Milk etc. These brands include a parent brand - which may be a corporate brand, an umbrella brand, or a family brand - as an endorsement to a sub-brand or an individual product brand. The endorsement should add credibility to the endorsed sub-brand in the eyes of consumers.
10. What is “no- Brand” branding
· A number of companies have successfully pursued "No-Brand" strategies by creating packaging that imitates generic brand simplicity. Examples include the Japanese company Muji, which means "No label" in, and the Florida company No-Ad Sunscreen.
· This no-brand strategy means that little is spent on advertisement or classical marketing and Muji's success is attributed to the word-of-mouth, a simple shopping experience and the anti-brand movement.
· No brand" branding may be construed as a type of branding as the product is made conspicuous through the absence of a brand name.
