9 - Difference between Brands and Branding

The AMA defines brand as - name, term, sign, symbol, design or combination of them - to identify goods/ services of 1 seller or groups of sellers and to differentiate them from those of competitors.

Points of difference POD - mid-price range, reasonably long lasting for its price

Points of parity POP - category - cosmetic - compact, case with mirror and powder puff

Lakme - On top of the world 

Branding - Endowing products & services with the power of a brand.

Brand equity - Added value endowed on products; reflected in consumer's reaction & market share.

Building Brand equity

·         Initial choice for brand elements - Lakme` (derived from Lakshmi)

·         Marketing activities supporting product - ad, events, blogs, lakme salon,   movie tie up's

·         Assosiation indirectly transferred to brand - Kareena Kapoor in 'Heroine' endorsing Absolute range

Brand reinforcement -

Partnered with cosmetic houses in Milan & Germany; accordingly develops technology.