Assignment 01 Brand Management MKT624 Total Marks: 20 Due Date: 15th May, 2013 Making product a brand (Let’s have original attempt) Objectives: 1. Learning what is the core of brand and branding 2. Learning how products are made brands Conceptual Note: The age of generic products is almost over because in 21st century people prefer what they may rely on and what they may recognize distinct from others. There is a definite realization among the entrepreneurial class of the world that only those products can survive and grow which are transformed into brands. The basic test to check whether a product has become a brand is its ability to make a difference. There are, beyond doubt, some certain ways a product may be made a brand. The Case: Saleem was born in 1980 in a fertile village of Pakistani Punjab. As he grew he saw his family associated with the cultivation of different crops with special focus on pulses. His family has been associated with the profession for almost four generations. They normally sell their semi-finished products to the middleman who sells them to the nearby urban whole sale markets. From Urban markets the products, in their finished form, goes to the households of middle and upper class for the ultimate consumption. His family is recognized in the area and considered financially sound. Saleem has had his higher education in agriculture and marketing management. Based on what he has learned at University, he is of the view that his family is working far below their real potential and needs to upgrade in the value chain of products. His learning has also made him to believe that real benefit of the whole trade goes to
the one who is near to the downstream of the chain and owning the brand. He also believes in serving those who are not served by others despite forming the larger part of the society. Saleem has decided not to be the part of the traditional business of his family rather he has decided to add value to it. His plan is to have a buying house with dual function of buying the crop of pulses from his family and selling it to the mega retail centers of the city after branding it. He aims for building the national brand of pulses the people can rely on in all terms. Currently in this product category there is no national brand existing. Only few companies have started selling pulses in generic packing. The only brand type existing in this category is private brands, mostly backed by retailers. Observation clearly shows that this branding effort is not making any significant difference. The difference is only made by the quality of generic product in terms of size of grain and cleanliness. Experts see great margin for branding in the category at all levels. Requirement: Place yourself in the shoes of Saleem and advise him that how he can make the product a brand in the local and national market of Pakistan. You need to present your suggestions in the form of a professionally crafted strategy for both local and national market. (10) You are also required to show the link between branding strategy for local and national market. (10) Note for Bright Future: Only original work of individual student will be awarded marks. You are suggested to avoid any form of plagiarism as it may disqualify from getting any marks. There is a great opportunity in this assignment as it can develop your skills for building brands. This skill can help you making a difference in the job or business market.
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what is the core of brand and branding?
Most brands seemingly spring from nowhere (the vast majority of run-of-the-mill brands in groceries and pharmacies). The origins of many others are lost or forgotten (most American automobiles, including Ford).
But great living brands, by definition, have origins that are authentic, genuine and alive. You know where they came from, and you care about that. These origins are part of the brand's mystery and
allure. They also infuse vital energy.
Think Hermés. Think Tiffany.
Great living brands have an ethos or
credo, a belief system, a philosophy, a culture.
They also have a point of view. Some even
have a reason for being that is greater than
their functional purpose. Classically, Helena
Rubenstein and Elizabeth Arden. Today,
Aveda, The Body Shop, and Joe Malone.
Great living brands trace their creation to the inspired genius of an individualistic founder, like Coco Chanel, or Christian Dior, or Ralph Lauren. Today's owners, partners and inheritors rejoice in this authenticity -- not just in historical eccentricities, but in the DNA that is still expressed in the brand.
As you explore your brand, start there. Explore the brand's quintessential DNA. Dig deep. Peer intently. Ask searching questions:
What is the creative, inspirational source of the brand?
Where did it begin, and how?
What built the brand?
How did it achieve success?
What is it about the brand that connects to us today, even if we aren't classic or quintessential users?
What motivated the originator of the brand?
What motivates the brand today?
Key Point: Understanding and exploring these issues puts you at the very heart of the brand. Your understanding here will give you extraordinary insight.
When does a mere product become a brand
Clients often ask what it is going to take to successfully market their company or product. Well, to paraphrase that old saw about real estate, the primary rule for a successful marketing campaign is “branding, branding, branding.” In other words, the first thing that has to be done is create an image or identity for whatever is being sold.