There are many different perceptions of what the brand identity consists of. But the more common definition of brand identity is that it is a set of associations the brand strategist seeks to create or maintain. If the brand identity is both unique, distinct, and clear expressions of what the brand is all about as well as long lasting, then it can create the basis of a solid, coherent and long lasting brand and be the driver of all brand related activities. 3.2.7 Brand Image The image of the brand is the perception of the brand by consumers. The goal of working strategically with brand image is to ensure that consumers hold strong and favorable associations of the brand in their minds the brand image typically consists of multiple concepts, perception, because the brand is perceived cognition, because that brand is cognitively evaluated; and finally attitude, because consumers after perceiving and evaluating what they perceive form attitudes about the brand.
Introduction Before beginning to discuss what makes a strong brand or how a brand becomes the number one brand there must firstly be a clear definition of what a brand is. A brand is defined as a name, term, sign, symbol or design, intended to identify the goods or services of a seller. Essentially a brand is something unique intended to differentiate your product from that of your competitors. In today’s marketing world where we are inundated with new products everyday branding is undeniably important. For a company branding is the main way to achieve a sustainable competitive advantage.
The Effects of Brand Extension toward the Brand Image Loh Jia Cong. Student Multimedia University Introduction Aaker and Keller (1990) define it as, “brand extension occurs when a firm uses an established brand name to introduce a new product into a new product category”. The existing brand name is also called parent brand. Brand extension also representative a company utilizes their brand name to a new product and leverage equity for expansion. Every company hopes to utilize brand extension leverage with its competitors and increase the sales or profits with the new product they offer.
Brands are complex offerings that are conceived by organisations but ultimately resides in the consumers mind (De Chernatony, 2010). A brand thus signals to the customers the source of the products and services and protects both the competitor who would attempt to provide products and services that appear similar or identical (Aaker, 2004). Brands provides the basis upon which consumer can identify and bond with a product or service or group of products and services (Weilbacher, 1995). A brand is a specific uniqueness associated with a product or services that enables the consumers connect with it by easy identification through the name, slogan, design, logo, symbols, etc. of the organisation that produces the products or
The success of the product can be better ensured with the help of a good brand-name. A formal brand-name selection process has been put in place by most of the big reputed companies. It begins with a careful review of the product initially, subsequently its benefits, the targeted segment of the market and the proposed marketing strategies are also taken into consideration while selecting a brand-name. 1.2. DEFINITIONS A brand as a "name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers”.
1. Executive Summary This report critically analyze the concept of brand extension and how customers perceive brand extension. This study also lay emphases on how powerful branding is and the need of brand extension as a useful tool to the marketer for achieving competitive edge in the market place. This report highlights more on the brand extensions applications: the two kinds of extensions that is vertical and horizontal brand extension. In addition, the report also deliberates as well as evaluate the categories and line of brand extension.
Co-Branding In today’s brand-centric world, co-brands can be seen everywhere. Starting from food products to credit card companies and fashion, co-branding has made an impact on business strategy is made and has been affecting the marketing world since 1950’s. When brands are unified, the result can be something that raises the bar and takes the product to all new unachievable heights. But similarly, on the opposite spectrum, it can leave the brand in the ruins fighting for survival, having diluted its position. Over the past 60 years, co-branding has been used to form a plethora of relationships.
Depending on product market and situations corporations are using different extension method either it be horizontal or vertical brand extension . Brand extension should be based on compatibility between parent and extended brand . If the extended brand matched with the parent brand then it 's acceptability or progress may be high .
The Effects of Brand Extension toward the Brand Image Loh Jia Cong. Student Multimedia University Introduction Generally, brand extension is a common way that a company use to launching a new product with use same or existing brand name for that new product in a different category. The existing brand name is also called parent brand. Brand extension also representative a company utilizes their brand name to a new product and leverage equity for expansion. Every company hopes to utilize brand extension leverage with its competitors and increase the sales or profits with the new product they offer.
Brand image is nothing but organization character. Brand image may create by good experience or sometime by observation. A positive brand image is created when a person is associated with a specific brand and recommend that brand to others. Brand image is one of the most powerful aspects that establish the reputation of a specific brand in the marketplace. Without a positive and strong Brand Image, companies cannot