This document provides an introduction to brand management, including definitions of brands and branding. It discusses the significance of branding for both buyers and sellers, such as helping buyers reduce risk and helping sellers differentiate products from competitors. The objectives of branding are outlined as differentiating products, assisting promotion, and increasing brand loyalty. Essentials of an effective brand include relevance, consistency, proper positioning, sustainability, credibility, uniqueness, and appeal. The document also briefly mentions challenges in branding and factors for building brand value.

1. INTRODUCTION TO
BRAND MANAGEMENT

2. CONCEPT OF Brand & BRANDING
• According to Kotler and Amstrong, ‘a brand is a name,
term, sign, symbol or design or a combination of these
that identifies the maker or seller of a product, or
services’.

3. Identify the brands?

4. Significance of branding…
To Buyer:
• A brand helps buyers in identifying the product that they
like/dislike.
• It identifies the marketer.
• It helps reduce the time needed for purchase.
• It helps buyers evaluate quality of products, especially if
they are unable to judge a product’s characteristics.
• It helps reduce buyers’ perceived risk of purchase.
• The buyer may derive a psychological reward from
owning the brand (e.g., Rolex watches or Mercedes).

5. Significance of branding…
To Seller:
• A brand differentiates product offering from competitors.
• It helps segment market by creating tailored images.
• It identifies the companies’ products making repeat purchases
easier for customers.
• It reduces price comparisons.
• It helps the firm introduce a new product that carries the name
of one or more of its existing products.
• It promotes easier cooperation with intermediaries with well-
known brands
• It facilitates promotional efforts.
• It helps in fostering brand loyalty, thus helping to stabilize
market share.
• Firms may be able to charge a premium for the brand.

6. Objectives of Branding
• To differentiate a firm’s product
• To assist in promotion
• To increase prestige and status
• To maintain product quality
• To increase brand loyalty
• To legally protect the firm
• To build values for customers

7. Essentials of a brand
• Relevance
• Consistency
• Proper positioning
• Sustainable
• Credibility
• Inspirational
• Uniqueness
• Appealing

8. Difference between product and brand

9. Types of brand
• Manufacturer’s brand
• Individual brands
• Family or umbrella brand
• Combination brand

10. Branding challenges
• Treating brands as assets
• Possessing a compelling vision
• Creating new sub categories
• Generating breakthrough brand building
• Building a digital strategy
• Building brand internally
• Maintaining brand relevance
• Creating a brand portfolio strategy that yields synergy and
clarity
• Leveraging brand assets to enable growth

11. Important factors for building brand value

12. MCQs
• Q1: