Branding: A Concept
→ Branding word origin—Brandr (Norwegian): to burn.
→ A brand is a name, a term, a sign, symbol, or design, or a combination of the above.
→ Branding, on the other hand, is a process, a tool, a strategy, an orientation where a product is branded to help in identification of the goods or services of one seller or group of sellers and to differentiate them from those of the competitors.
Branding has 3 components.
(i) Brand Name:
Part of a brand which can be vocalized. Example: AsianPaints.
(ii) Brand mark:
Part of a brand which can be recognized but not vocalized. Example: 'Girl of Amul'
(iii) Trade mark:
Part of a brand or the brand that is given legal protection against plagiarism.
Qualities of a good brand name
→ Short, simple, and easy to pronounce.
→ Noticeable, easy to recognize, & remember.
→ Pleasing and impressive when spoken,
→ Adaptable to packaging & labeling requirements and to different media and languages.
→ Linked to the product.
→ Symbolically eye-catching.
→ Contemporary & capable of being legally registered and protected.
→ Not obscene, negative, offensive, or vulgar.
Types of Brand Names
(i) Individual Brand Name:
→ Entrepreneur chooses a different name for each of their products.
→ Example: HUL has 3 soaps: Lifebuoy, Liril, and Lux.
(ii) Family Brand Name/Umbrella Branding;
→ Entrepreneur opts for a company or successful family name for their products.
→ Example: Amul Milk, Amul Dark Chocolate, Amul Buttermilk, etc.
(iii) Corporate Brand Name:
→ Corporate name or logo is used together with a brand name.
→ Example: Tata Agni, Tata Motors, etc.
(iv) Alpha-numeric Brand Name:
→ Uses alpha-numeric words for branding.
→ Signifies the physical characteristics of the product.
→ Example: i10, 120, etc.