Advertising and Sales Promotion & Brand Management

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<p>Assignmenton</p> <p>Advertisement and sales promotion</p> <p>Different types of brands and Co-Branding with examples</p> <p>Submitted by C.SENTHIL ARUMUGAM MBA-II 09DMBA43 PSNCET</p> <p>Advertising and sales promotion Objectives of Advertisement :</p> <p>Advertising objectives are the communication tasks to be accomplished with specific customers that a company is trying to reach during a particular time frame. A company that advertises usually strives to achieve one of four advertising objectives: trial, continuity, brand switching, and switchback. Which of the four advertising objectives is selected usually depends on where the product is in its life cycle. Trial The purpose of the trial objective is to encourage customers to make an initial purchase of a new product. Companies will typically employ creative advertising strategies in order to cut through other competing advertisements. The reason is simple: Without that first trial of a product by customers, there will not be any repeat purchases. Continuity Continuity advertising is a strategy to keep current customers using a particular product. Existing customers are targeted and are usually provided new and different information about a product that is designed to build consumer loyalty. Brand Switching Companies adopt brand switching as an objective when they want customers to switch from competitors brands to their brands. A common strategy is for a company to compare product price or quality in order to convince customers to switch to its product brand.</p> <p>Switchback Companies subscribe to this advertising objective when they want to get back former users of their product brand. A company might highlight new product features, price reductions, or other important product information in order to get former customers of its product to switchback.</p> <p>Assignmenton</p> <p>Brand Management</p> <p>Different types of brands and Co-Branding with examples</p> <p>Submitted by C.SENTHIL ARUMUGAM MBA-II 09DMBA43 PSNCET</p> <p>Brand Management Brand:A brand is the identity of a specific product, service, or business. A brand can take many forms, including a name, sign, symbol, color combination or slogan. The word brand began simply as a way to tell one person's cattle from another by means of a hot iron stamp. A legally protected brand name is called a trademark. The word brand has continued to evolve to encompass identity - it affects the personality of a product, company or service. Types of brand names Brand names come in many styles A few include: Acronym: A name made of initials such as UPS or IBM Descriptive: Names that describe a product benefit or function like Whole Foods or Airbus Alliteration and rhyme: Names that are fun to say and stick in the mind like Reese's Pieces or Dunkin' Donuts Evocative: Names that evoke a relevant vivid image like Amazon or Crest Neologisms: Completely made-up words like Wii or Kodak Foreign word: Adoption of a word from another language like Volvo or Samsung Founders' names: Using the names of real people like Hewlett-Packard or Disney Geography: Many brands are named for regions and landmarks like Cisco and Fuji Film Personification: Many brands take their names from myth like Nike or from the minds of ad execs like Betty Crocker</p> <p>Different types of brands and Co-branding : The Types of Brands Different types of brands work for different marketing approaches that your business might take. Basically, there are a few general types of brands that your business could fall into:1.</p> <p>Product brands: Products (commodities) become branded products when you win awareness in the marketplace that your product has compelling characteristics that make it different and better than others in the product category. Branding is a powerful tool that differentiates your offering in ways that create consumer preference and allow you to command premium pricing.</p> <p>2.</p> <p>Service brands: Services are products that people buy sight-unseen. People buy services purely based on their trust that the person or business theyre buying from will deliver as promised.</p> <p>If you sell a service or run a service business, you absolutely, positively need to develop and manage a strong, positive brand image.3.</p> <p>Business brands: You can brand your business, itself, in addition to or instead of branding your products or services. If you can only build one brand and thats the best advice to any business thats short on marketing expertise or dollars make it a business brand because this brand can attract job applicants, investors, and (maybe most importantly) customers.</p> <p>4.</p> <p>Personal brands: Whether you know it or not, you have a personal brand. If people know your name or recognize your face, they hold your brand image in their minds.</p> <p>5.</p> <p>Personality brands: Personality brands are personal brands gone big-time. Theyre individual brands that are so large and strong that they not only deliver wide-reaching personal celebrity but also create significant value when associated with products or services. Think Martha Stewart, Emeril Lagasse, or Oprah, and you're on the right track. Sure, these are all just people, but their names are associated with a superior quality and subject expertise that speaks to their personality branding. If you aspire to become a leader in your community or industry, keep that goal in mind as you build your personal brand. Develop a personal reputation that you can leverage into a greater good by becoming a small-scale personality brand in your own backyard or business arena. Co Branding: What is co branding? Co-branding refers to several different marketing arrangements: Co-branding, also called brand partnership[1], is when two companies form an alliance to work together, creating marketing synergy. As described in Co-Branding: The Science of Alliance:[2] "the term 'co-branding' is relatively new to the business vocabulary and is used to encompass a wide range of marketing activity involving the use of two (and sometimes more) brands. Thus co-branding could be considered to include sponsorships, where Marlboro lends it name to Ferrari or accountants Ernst and Young support the Monet exhibition."</p> <p>Forms of co branding: There are many different sub-sections of co-branding. Companies can work with other companies to combine resources and leverage individual core competencies, or they can use current resources within one company to promote multiple products at once. The forms of cobranding include: ingredient co-branding, same-company co-branding, joint venture co-branding, and multiple sponsor co-branding. No matter which form a company chooses to use, the purpose is to respond to the changing marketplace, build ones own core competencies, and work to increase product revenues.</p> <p>1. Ingredient co-branding. This involves creating brand equity for materials, components or parts that are contained within other products. Examples: Betty Crockers brownie mix includes Hersheys chocolate syrup Pillsbury Brownies with Nestle Chocolate Dell Computers with Intel Processors Kellogg Pop-tarts with Smuckers fruit</p> <p>2. Same-company co-branding. This is when a company with more than one product promotes their own brands together simultaneously</p> <p>Examples: General Mills promotes Trix cereal and Yoplait yogurt Kraft Lunchables and Oscar Mayer meats</p> <p>3. Joint venture co-branding It is another form of co-branding defined as two or more companies going for a strategic alliance to present a product to the target audience. Example: British Airways and Citibank formed a partnership offering a credit card where the card owner will automatically become a member of the British Airways Executive club 4. Multiple sponsor co-branding. This form of co-branding involves two or more companies working together to form a strategic alliance in technology, promotions, sales, etc. Example: Citibank/American Airlines/Visa credit card partnership Examples of co branding: AT&amp;T Universal Master Card Citibank/American Airlines/Visa Card Healthy Choice Cereal by Kelloggs Coach edition of the Lexus ES series Eddie Bauer edition of the Ford Explorer Water by Culligan GE Profile Refrigerator Pillsbury Brownies with Nestl Chocolate Braun/Oral-B Plaque Remover</p>

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