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Levels of meaning that a brand can convey


              Q: What is Brand? Define brand equity.
                Ans:
Brand:
A brand is d name term sign symbol or design or a combination of them intended to identify the goods or service of one seller or group of sellers and to differentiate them from those of competitors.
Brand equity:
Brand equity is an intangible asset that depends on associations made by the consumer.
The brand can add significant value when it is well recognized & has positive associations in the mind of the consumer. This concept is referred to as brand equity.
Q: What are the levels of meaning that a brand can convey?

             Ans: There are six levels of meaning for a brand. These are-
Attributes
Benefits
Values
Culture
Personality
User
Q: What are the different brand strategies for multiple products?

                Ans:
               Different companies have adopted for different brand strategies for multiple products. These are-
i) Single brand identity
ii) Umbrella
iii) Multi-brand categories
iv) Family of names e.g. Nestle uses Nescafe, Nesquik and Nestea for beverages.
Q: How would you protect Brand Equity?

              Ans:
                 The marketing mix should focus on building & protecting brand equity. For example-
The brand is positioned as a premium product
The product quality should be consistent
Sale prices should not be used compete
Distributions channels & promotional campaign should be consistent

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