Services Branding - Difference between branding a product vs branding a service скачать в хорошем качестве

Services Branding - Difference between branding a product vs branding a service

View all our courses and get certified on https://academy.marketing91.com Branding of Services What is Branding? The American Marketing Association defines a brand as a ‘name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers’. A brand is the personality of a product or service that distinguishes a company from its competitors A brand ultimately describes how it relates to customers, staff, partners, investors, etc. Branding of Products Products are made in the factory; however, brands are built in the minds of consumers. The goal of product branding is to build intangible values and associations around the product to differentiate it from physically identical products that are available in the market. Example: An iPhone smartphone suggests something different to a buyer of Samsung smartphone. Advertisements portray emotional benefits, sensory cues and brand personality to convey emotional meaning and the intangible value of the product and differentiate it. Branding in Services Branding plays an important role in service companies because it helps increase customers’ trust in an invisible purchase. Service branding includes corporate brands and sub-brands. Service branding starts with the corporate brand. The presented brand, that is, how the company presents itself through its own controlled communication External brand communication modes such as WOM and publicity which are not under the control of the service provider Sub-brands - An important trend among many service organizations is to apply branding principles to specific products or processes as a way of distinguishing the firms’ service offerings. Example: Mutual Funds, Restaurants in five-star hotels, Insurance policies, Classes of Air Travel Generally, the corporate brand oversees all its sub-brands and is clearly linked to these sub-brands in advertising or other forms of communication. Branding Implications of Service Characteristics Branding Implications A brand is a perceptual entity. It resides in the customer’s perceptual space. Brand image is a set of associations that are anchored to a name. Association building is relatively easier for a physical object. But, services are intangible marketing entities. The branding implication of service characteristics are abstract nature, service evaluation, variability, customer role and inter-customer contact. Abstract Nature Goods tend to be tangible and therefore can be touched, smelled and seen before. Service do not permit the same for reasons of intangibility; services usually involve an amalgam of disparate elements to create a service experience. In order to make up for abstraction and intangibility; tangible clues can be used. Such clues can provide assurance and signal an image. Service Evaluation Services with high credence and experience qualities are difficult to evaluate. In a situation of pre-purchase quality, the customer is forced to rely on other available clues and evidences. Service brander needs to discover these clues and evidence and employ them creatively while communicating with the prospects. Variability Heterogeneity of a service can kill a brand. Service heterogeneity must be checked and controlled by employing various mechanisms. Employee training and controls can standardize employee performance. Customer Role In many services, customers play a significant role in service creation Service brands suffer when ambiguity surrounds customer’s goals and the role a customer is expected to perform for an effective service must be communicated. If needed, appropriate motivators must be used to get customers co-operation. Inter customer contact Quality of service brand does not solely depend upon actions of the service providers. In many services, the quality depends a great deal on how other customers using the service behave. Customer focus and consistency are essential in creating strong service brands. Benefits of Branding Services • It helps in reducing price comparison • The issue of variability is addressed to a great extent • It helps make the intangibles tangible • It provides a firm with a corporate identity • It enables a firm to distinguish its services from other competing services • It helps customers develop value perceptions regarding a service • It helps develop customer relations This video is on Branding of Services and it has the following sub-topics. Time Stamps 0:00 What is Services Branding? 0:30 What is Branding? 1:00 Branding of Products 1:33 Branding in Services 2:30 Branding Implications of Service Characteristics 5:03 Benefits of Branding Services 5:29 Difference between Branding of Products & Services