(a) The Parle adopt familiarity brand policy. The company advertise its product under the tagline “From the House of Parle”. It is a formal plan used by a business to create a particular image of itself in the mind of current and potential customers. Parle is sitting on a strong pedigree of many individual brands. They can build its prestige and goodwill by offering quality brands at reasonable prices.
(b) Brand equity means the marketing effect of a brand. High brand equity provides a company with many competitive advantages. Brands have equity because they create high awareness, many, loyal customers and high reputation for perceived quality. It also refers to the result from the marketing of a particular product or service because of its brand name and that would not occur if product don’t have brand name.
With reference to brand equity, while the flagship Parle-G is worth ₹ 5,000 Crore plus and by far the biggest brand in the portfolio combining nearly 30% of overall shares, other like Parle 20-20 and Parle Magix cream are among f 1000 Crore and Crackjack, Monaco and Hide & Seek around ₹ 500 Crore.
(c) Brand promotion is that element of marketing mix that aims at informing, reminding, persuading and influencing the customers so that they purchase the brand. It is applied and persuasive communication used for informing and reminding the customers. Its aim is to persuade the customers to buy more and more products. So that it will increase the company’s sale. Brand promotion efforts seek, to stablize sales by minimising the impact of such fluctuations. It facilitates mass production which leads to economies of scale and lower costs.
The two methods of brand promotion are given below :
(i) Publicity : Publicity refers to the non-personal stimulation of demand for a brand by placing – important news about it in published medium. Public relations activities are typically designed by the firm to build image for the firm. For example, Reliance World Cup Cricket Tournament, ITC Sangeet Sammelan, etc. Good or Bad remarks or reviews appearing in newspapers or magazines about a film, book, a policy etc. are also called publicity.
(a) Sales Promotion : It refers to the use of short term incentives to persuade the people to purchase the goods or services immediately. The basic purpose of sales promotion is to stimulate on the spot buying through short-term and non-recurring incentives which helps to increase the sales and profits. It also help to inform the prospective buyers about the availability, features and uses of product. There are some techniques of sales promotion i.e.,