Type of Brands
Brand is the name, sign, symbol, mark given to the particular goods or services. The process of providing name, sign, symbol, mark to the particular product is known as branding of products. There are various types of brand of products. The types of brand are as follows:
1. Individual Brand
A company may produce different types of goods. The task of giving separate brand to each type of products is called individual branding. Branding of Khukuri, Surya etc. brand of cigarette of Surya Tobacco Company is the example of individual brand. Although this brand policy is very good, it becomes expensive and challenging in market promotion.
2. Family Brand
If one brand name is given to the products of same product line, it is called family brand. Family branding policy becomes suitable for some companies producing different product lines. For example, a food stuff producer can give different brand names to different productions such Mohuns for snacks, Dippy for Juice, and Amul for milk. This type of branding makes combined advertisement easy and help in sales promotion. But, if any customer does not like any products of one product line, other products may also be affected negatively.
3. Umbrella Brand
One company may produce several product lines or products. The company may give same brand to all its products. Such branding policy is called umbrella branding policy. The products produced by the Tata Company of India gives TATA brand name to all its products such as Bus, Truck, Machineries, Soap, Chemicals, and Cloths etc. This type of branding economizes promotional cost. On the other hand, if any one product does not get success in market, it adversely affects other products also. However, on the whole, this branding policy becomes fruitful for quality products.
4. Manufacturer’s Brand
If any producer uses brand in its product, it is called producer’s brand / mark. Producer name is mentioned in such products. If there is a condition to maintain quality of the product, such policy should be adopted. Besides, this policy should be adopted if the producer’s image or reputation is high.
5. Distributors’ Brand / Mark
All of the producers do not give brand to products by themselves. They may delegate the right to keep brand name / mark to intermediaries, this is called distributor’s brand. Experienced and reputed agent, wholesaler, big retailers and distributors perform this. Generally, this branding policy is adopted if the producer is inexperienced and distributor is experienced. This policy may be useful to the producer.
6. Licensed Brand
A producer can use the brand of other producers who do not put their products in competition. Permission can be taken through agreement to use any brand of other producers. After such permission / authority have been got, royalty is paid for the use of such brand. Such brand is called delegated brand or licensed brand.
Essentials of a Good Brand Name
Mark name is used to give correct introduction of the product in market. This plays an important role to increase the fame and reputation of the production company. This also encourages sellers for continuous sale. Besides, this also helps in controlling market. So, products should be compulsorily given brand name. The following points can be mentioned to make clear why it is necessary.
1. Suggestive
Brand of the products that enter in the market should be suggestive. Such suggestion encourages customers to use products of the concerned company. For example, the brand Safa Sabun suggests that it makes clothes clean. In this way, brand name of any product can give suggestion to the customers. So, brand name of products should be suggestive.
2. Easy to pronounce
Name of any products should be easy for the customers to pronounce. If such easy name is given to the products, the customers feel easy to pronounce. Just the opposite, if the brand name is difficult to pronounce, they feel difficulty. So, easy brand name should be given so that the customers can pronounce it easily.
3. Capable to be registered
Brand name of the product should be able to get it registered. Any name already registered by other companies should not be registered. Legally prohibited name also should not be registered, or it is not registered. If brand name is not registered, it cannot be used solely. So, registrable brand name should be given to the products.
4. Stable life
Brand name of product should be long lasting. Brand should not be dependent upon fashion and style. Similarly, brand name should be kept which cannot be negatively affected by the time. This makes brand name long lasting.
5. Distinctive
Brand name of any products should be new and unique. Same brand name or similar kept by other companies or competitors should not be given to the products. If the brand is similar or same, difficulties may arise in marketing mix. So, similar name or brand should be avoided, it should be unique and different from others.
6. Attractive
Brand name of product should be very attractive. If attractive brand is given to the products, the customers are attracted to buy such products. It also makes easy to conduct promotional activities. They also feel easy to remember the brand. They keep it in their mind.
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