The prime concern of the present work is to deal with the brand analysis and other elements of the brand that are utilized in the organization and what kind of the goods and services are sell by different organizations and how can the different sellers and the different groups differentiate from each other and from their competitors. Different brand elements and the components of the different brand elements are discussed in this chapter. Moreover, the brand as a product is also defined in the other dimensions and has differentiated the product of one brand with the other. An example of the Coca Cola Company has given in this chapter. The marketing strategies used by coca-cola is to change the taste of the coke from the Pepsi so that the brand can differentiate. This changes the consumer reaction and coca-cola entered the market with new taste and with new consumers in the market. Coca Cola has made a difference in the produces and its elements of the brand to differentiate it from the other brands and so that it can compete in the market.

In the first chapter, the case of the Coca-Cola Company is described in detail. In this case, the marketing mistake made by the Coca-Cola Company is discussed. In the year 1985 Coca-Cola Company in order to compete with its main competitor, Pepsi change the formula of coke. Coca-Cola changes its formula so that it can become closer to the taste of Pepsi. However, this change was not accepted by many of its customers. Many customers who prefer a strong taste of Coca-Cola start disliking the new taste because it was no longer stronger as before.

Many customers of Coca-Cola send launched a complaint to the company about the change in taste. Coca-Cola adopted this strategy because its competitor Pepsi was giving tough competition to the company and Coca-Cola at that time was losing market share. Coca-Cola decided if it makes the taste of Coca-Cola similar to Pepsi than it will definitely be able to increase its sales. However, it does not realize that there are many customers who are loyal to the old taste of coca-cola and won’t accept the new taste.

1. Define “brand,” state how brand differs from a product, and explain what brand equity is.

A. The brand typically represents a sign, term, and name design or might be a symbol or maybe combination of these things in order to identify the different companies producing and introducing different goods and services in order to differentiate the company with its competitors. However the product is anything that is offered in the market by different local and international organizations, the product is not relevant to a specific company or organization.

Brand Equity is basically the commercial value of the product that is derived by the consumer perception that they had about a product, brand, and services provided to the customers.

2. Summarize why brands are important.

A. Brands are important as they increase any company’s value and this provides the motivation to the employees and provide them the direction to work harder and introduce something new in the market and in this way, the company will acquire new customers more easily, which makes the reputation of the company in the market.

3. Explain how branding applies to virtually everything.

A. Anything can be branded like physical goods, stores, services, ideas, etc. but branding cam is applied virtually to anything when the brand identification is used for the improvement of services and association of the brand with the services. The brand recognizing provides benefits to the customer and ensured and the association of the brand should also be ensured with the producer benefit, class and the needs of the consumers.

4. Describe the main branding challenges and opportunities.

A. The challenges that might occur in the main branding includes the financial challenges, bringing up new ideas in the competitive market, consider the branding as an asset and creating an innovative and digital strategy for branding. The opportunities of the main branding are; customer service as a priority, blogging for branding and defining your persona.

5. Identify the steps in the strategic brand management process.

A. The steps included in the BMP are;

a. To identify and to establish the brand position values

b. Implementing the planning of the programs of brand marketing

c. To interpret and to measure the brand performance

d. The sustaining and the growing brand equity.

CHP 2: Customer-Based Brand Equity and Brand Positioning

Summary:

The chapter consists of all important information regarding consumer-based brand equity in the differential form and on the other hand it provides essential information and knowledge about the brands. The information included in the chapter is about brand knowledge if the consumers have increased. Moreover, brand knowledge is also discussed in this chapter and the brand awareness and brand image are discussed in this chapter to increase consumer equity. Consumer-based brand equity is described in detail in this chapter, as it defines what elements of the brand attract the consumers and moreover, the brand mantra is also discussed in this chapter, as this defines the brand position in the market along with the brand values. The brand mantra describes the position of the brand among the customers.

1. Define customer-based brand equity.

A. The customer-based brand equity is the difference in the knowledge of the different brands among the customers and the different responses of the customers to brand marketing. Customer-based brand equity is the perception of the customers about the brands and the superiority of the product that is carrying the name of the brand when the brand is compared with its competitors.

2. Outline the sources and outcomes of customer-based brand equity.

A. The sources and the outcomes of the Brand Equity include; Brand Awareness and the Brand Image. The customer will develop any perception about the brand only if the customers have any awareness regarding the brand the image of the brand is maintained in the market and is on priority. The outcomes will be that due to the awareness and the brand and its maintained image the customers will be more attracted.

3. Identify the four components of brand positioning.

A. The four components of the brand positioning include the;

· Targeted customer: the people who are interested in the brand

· The essence of the brand: The quality of the brand

· Brand Promise: To provide the best and unique quality and differentiating benefits

· Brand Personality: the characteristic of the brand and its products.

4. Describe the guidelines in developing a good brand positioning.

A. The complete guideline and process of developing a good brand position include:

· Determine the current position of the brand.

· Look upon the closes to competitors in the market.

· Understand the position strategies of competitors.

· Compare yourself with the competitors and find the uniqueness of your brand.

· Develop a more innovative and distinctive idea.

5. Explain the brand mantra and how it should be developed.

A. Brand Mantra is basically the spirit or the essence of the positioning of the brand. The main objective of the brand mantra is to ensure that the workers are working efficiently in the organization along with the contribution to the external marketing partners. The partners of the company know about the specialties of the brand and how the brand is represented to the consumers according to the choice of the consumers.

CHP 3: Brand Resonance and the Brand Value Chain

Summary of Strategic Brand Management:

This chapter includes information about the brand planning is discussed and the three models are discussed in this chapter to define the brand resonance. The brand resonance and the brand chain models are the major tools that utilized in this chapter. The brand model describes the band with the full potential and its potential to perform. A strong identity of the brand is defined and the meaning of the brand is defined and the strong brans and their relationships between the people and the other brands that are among the competition are also discussed. Moreover, the brand value chain is defined in this chapter in order to define the value of the brand in the society and what are the financial impacts on the brand on the investments and on the marketing.

1. Define brand resonance of Strategic Brand Management

A. Brand Resonance is a process that defines the relationship of consumers with the product and the services. in this way, the consumer can relate services and processes to the product along with the intensity of the bond. The customers have with the brand and how they repose and how loyal they are to the brand.

2. Describe the steps in building brand resonance.

A. The steps defined for the building the brand resonance includes the;

· Brand identification and awareness: Recognize the brand among the consumers.

· Establishment of the brand: Establish the brand in the full context so that the customers can start remembering the brand.

· Identifying the customer’s response: Identify the response of the customers about the brand and how they are consuming and utilizing it.

· Relationship: After analyzing the response, a firm connection is developed between the brands and customers and it must develop a complete process.

3. Define the brand value chain.

A. The brand Value chain mainly concerns with the structured approach that provides assess to the sources and outcomes of brand equity. The process considers different stages and manners through which the value of the brand is developed. The process is developed under different marketing activities.

4. Identify the stages in the brand value chain.

A. The stages in the brand value chain include the:

· Personal Selling

Personal selling is way in which people are utilized for selling the products. The sale force meet with customers face to face for selling the product.

· Publicity

Publicity is technique in which the promotion of the product is made so that it can grab the attention of the people.

· Public relation

Through public relations the organization create its reputation among the people and ultimately the value of the brand increases.

· Advertising

The organizations made creative advertisement which are delivered through different media platforms for attracting customers and creating brand value

· Sponsorship

The organization today sponsor different events to promote the product in customers.

5. Contrast brand equity and customer equity

A. Brand Equity defines the strength along with the values of Brand. The brand equity also identifies the value and position of the brand and it is also essential to consider all the brand customers.

Customer Equity is the response of the customers towards the brand and its products and is defined as the customer values in terms of the lifetime.

CHP 4: Choosing Brand Elements to Build Brand Equity

Summary:

The chapter includes different aspects of brand population and the elements of the brand are discussed in detail and how the brand elements can enhance the brand awareness and how to astringe and unique brand can be developed with the help of the selection of the appropriate brand elements. As there are different conditions of weakness related to the brand element along with aspects of different strengths and they can maximize the contribution of brand equity and in the consumer equity as well.

1. Identify the different types of brand elements.

A. The different type of brand elements used by different brands include the:

a. Name of the brand

The name of the brand is unique which creates the image of the product in the mind of the customers.

b. Its logo

The logo of the brand provide information regarding the company and its products.

c. Shape

The shape of the brand logo is designed in such a way that it must reflect the values of the corporation.

d. Color

Such colors are chosen which can attract the customers toward the product.

e. Theme line

The theme line indicates what the organization wants to deliver to its customers

2. List the general criteria for choosing brand elements.

A. The general criteria for choosing the elements of the brand include the:

· Protectibility

The brand are protected legally and competitively across the globe.

· The transferability

Such brand names and logos are selected in which product extension won’t get restricted

· Likability

The brands must be colorful and interesting so that they can communicate information to customers

· Memorability

Brands create brand awareness among its customers

· Meaningfulness

Brands tells something about the product to its customers

3. Describe key tactics in choosing different brand elements.

A. The key tactics in choosing the brand elements include the Name of Brand, URL’S, packaging process, symbols and logos, characters, URLs, jingles, and slogans.

Q4. Explain the rationale for “mixing and matching” brand elements.

The table above has described the fact that due to different brand elements have claimed to have different strengths and weaknesses, therefore, the marketers have been using the “mix and match” strategy, with a purpose to maximize their combined contribution to the brand equity.

Q5. Highlight some of the legal issues surrounding the brand elements.

Counterfeit and Imitator Brands

A ton of copycat brands as put forth by the retailers as store brands, which in the end putting the national brands in the issue of shielding their exchange dress by getting serious about a portion of their best clients. Muddling matters is the way that whenever tested, numerous private names fight, with some support, that they ought to be allowed to keep marking and bundling rehearses that have come to distinguish whole classifications of items as opposed to a solitary national brand.

Trademark Issues Concerning Names

Devoid of sufficient protection of trademark, brand names might be turned out to become legally affirmed standard.

Trademark Issues Concerning Packaging

Normally, names, as well as graphic designs, are further legally justifiable instead of shapes and colours. For this reason, the legal protection issue of the colour of packaging designed for a brand is a problematical one.

References of Strategic Brand Management:

Keller, K. L. (2013). Strategic Brand Management: Building, Measuring, and Managing Brand Equity. Boston: Pearson.