Post on 03-Dec-2014
Coke vs Pepsi (PoD)
Cokes come in red cans, while Pepsi comes in blue cans.
The tastes of both the drinks are distinct and it is easy to
make out the difference. Pepsi is a little sweeter in taste
than the coke.
The carbonation levels of both the drinks also are different. It
is higher in coke.
The basic ingredients of Pepsi are carbonated water, sugar,
fructose corn syrup, caffeine, colorings, citric acid, and other
natural flavors. When the coke was launched, its main
ingredients were caffeine and a small amount of cocaine.
The other ingredients, like the Pepsi are carbonated water,
sugar, phosphoric acid, and other natural flavorings.
The branding techniques are used more by Pepsi Company
than the Coke.
Brand Equity & Customer Equity
Brand Equity is defined as value and strength of the Brand that
decides it’s worth whereas Customer Equity is defined in terms of
lifetime values of all customers.
Brand Equity and Customer Equity have two things in
common-
Both stress on significance of customer loyalty to the brand
Both stress upon the face that value is created by having as
many customers as possible paying as high price as possible.
But conceptually both brand equity and customer equity
differ.
While customer equity puts too much emphasis on lower line
financial value got from the customers, brand equity attempts to
put more emphasis on strategic issues in managing brands.
Customer Equity is less narrow alternative. It can overlook a brands
optional value and their capacity effect revenues and cost beyond
the present marketing environment.
Just as customer equity can persist without brand equity, brand
equity may also exist without customer equity. For instance I may
have positive attitude towards brands - McDonald and Burger King,
but I may only purchase from McDonald’s brand consistently.
To conclude, we can say brands do not exist without consumer
and consumer does not exist without brands. Brands serve as a
temptation that utilizes other intermediaries to lure the customers
from whom value is extracted. Customers serve as a profit-
medium for brands to encash their brand value. Both the
concepts are highly co-related.
Difference between Pizza Hut and Domino Pizza
Pizza Hut and Domino’s Pizza started early in the business
and has gained popularity among consumers and made a
worldwide impact evidenced by their growing franchises.
Pizza Hut is the more expensive pizza compared to Domino’s
pizza but Domino’s have more branches catering to a lot of
people, making it more convenient to them.
Pizza Hut offers more varieties in their menus compared to
Domino’s pizza.
Brand extension
Brand extension or brand stretching is a marketing strategy in
which a firm marketing a product with a well-developed image
uses the same brand name in a different product category. The
new product is called a spin-off. Organizations use this strategy to
increase and leverage brand equity (definition: the net worth and
long-term sustainability just from the renowned name). An
example of a brand extension is Jello-gelatin creating Jello
pudding pops. It increases awareness of the brand name and
increases profitability from offerings in more than one product
category.
Advantages of Brand Extension
a. It increases brand image.
b. The risk perceived by the customers reduces.
c. The likelihood of gaining distribution and trial increases. An
established brand name increases consumer interest and
willingness to try new product having the established brand
name.
d. The efficiency of promotional expenditure increases.
Advertising, selling and promotional costs are reduced.
There are economies of scale as advertising for core brand
and its extension reinforces each other.
e. Cost of developing new brand is saved.
f. Consumers can now seek for a variety.
g. There are packaging and labeling efficiencies.
h. The expense of introductory and follow up marketing
programs is reduced.
Brand equity
Brand equity is the marketing effects and outcomes that accrue
to a product with its brand name compared with those that would
accrue if the same product did not have the brand name. Fact of
the well-known brand name is that, the company can sometimes
charge premium prices from the consumer . And, at the root of
these marketing effects is consumers' knowledge. In other words,
consumers' knowledge about a brand makes manufacturers and
advertisers respond differently or adopt appropriately adept
measures for the marketing of the brand. The study of brand
equity is increasingly popular as some marketing researchers
have concluded that brands are one of the most valuable assets a
company has.[7] Brand equity is one of the factors which can
increase the financial value of a brand to the brand owner,
although not the only one.[8] Elements that can be included in the
valuation of brand equity include (but not limited to): changing
market share, profit margins, consumer recognition of logos and
other visual elements, brand language associations made by
consumers, consumers' perceptions of quality and other relevant
brand values.
Brand equity is strategically crucial, but famously difficult to
quantify. Many experts have developed tools to analyze this
asset, but there is no universally accepted way to measure it. In a
survey of nearly 200 senior marketing managers, only 26 percent
responded that they found the "brand equity" metric very useful
Brand architecture
Brand architecture is the structure of brands within an
organizational entity. It is the way in which the brands within a
company’s portfolio are related to, and differentiated from, one
another. The architecture should define the different leagues of
branding within the organization; how the corporate brand and
sub-brands relate to and support each other; and how the sub-
brands reflect or reinforce the core purpose of the corporate
brand to which they belong. According to Rajagopal and Sanchez
Brand architecture may be defined as an integrated process of
brand building through establishing brand relationships among
branding options in the competitive environment. The brand
architecture of an organization at any time is, in large measure, a
legacy of past management decisions as well as the competitive
realities it faces in the marketplace
Umbrella brand
An umbrella brand is an overarching brand used across multiple
related products. Umbrella branding is also known as family
branding. It contrasts with individual product branding, in which
each product in a portfolio is given a unique brand name and
identity.
There are often economies of scope associated with umbrella
branding since multiple products can be efficiently promoted with
a single advertisement or campaign. Umbrella branding facilitates
new product introductions by providing a familiar brand name,
which can lead to trial purchase, product acceptance, or other
advantages.
Umbrella branding may impose on the brand owner a greater
burden to maintain consistent quality. If the quality of one
product in the brand family is compromised, it could impact on
the reputation of all the others. For this reason umbrella branding
is generally limited to product lines that consist of products of
similar quality.
A good example is AMUL - Amul Butter, Amul Cheese, Amul Milk,
Amul Icecream, Amul Chocolates etc
Brand Contribution
Brand Contribution is revenue generated by the brand less direct
costs associated with it. Direct costs may include manufacturing,
sales and marketing costs.
Proper brand contribution reporting besides actual numbers
should contain planning data. Ad-hoc tools presenting actual and
forecasted numbers for sales, revenue and profitability by product
can be used as a starting point in producing forward looking
statements.
Depending on incoming data granularity and business needs our
brand contribution reporting can be done by trade channel and/or
customer. This opens new capabilities to brand managers in
making timely adjustments to marketing investments based on
changing business results and market conditions.
Brand Audit
A brand audit provides an analysis of an organization’s brand and
its brand management and marketing effectiveness. It assesses a
brand’s strengths, weaknesses, opportunities, and threats. It
identifies brand growth opportunities including those achieved by
brand repositioning and brand extension. The audit should result
in recommendations to improve brand equity, brand positioning,
and brand management and marketing effectiveness.
The following are typical components of a brand audit:
Strategy review
• Business plans
• Marketing plans
• Brand positioning statement
• Brand plans
• Creative (or agency) briefs
• Media plans
A brand audit examines whether a business’ share of the market
is increasing, decreasing, or stable. It determines if the
company’s margin of profit is improving, decreasing, and how
much it is in comparison to the profit margin of established
competitors. Additionally, a brand audit investigates trends in a
business’ net profits, the return on existing investments, and its
established economic value. It determines whether or not the
business’ entire financial strength and credit rating is improving
or getting worse. This kind of audit also assesses a business’
image and reputation with its customers. Furthermore, a brand
audit seeks to determine whether or not a business is perceived
as an industry leader in technology, offering product or service
innovations, along with exceptional customer service, among
other relevant issues that customers use to decide on a brand of
preference.
Brand health
Brands can be very resilient to adversity and can withstand a barrage of mismanagement, unfortunate macro incidents and unexpected disasters. However, in order to be so resilient they need to be in good health. Intangible Business checks brand health using brand valuation methods to understand the drivers of value and the health of the brand in the eyes of the consumer. By identifying the drivers of value, resource can be allocated to support these functions and they can also be monitored to improve the brand's position.
Brands are frequently a key driving force behind mergers and acquisitions. Ensuring that these brands are healthy prior to acquisition is an important step to ensuring value creation. Intangible Business helps companies identify brand health prior to acquisition and monitor brand equity on an ongoing basis, looking at the brand from both a financial and a marketing perspective. It helps being qualified accountants and marketers.
Brand aesthetics
Aesthetics is commonly known as the study of the mind and
emotions in relation to the sense of beauty. More broadly,
scholars in the field define aesthetics as a critical reflection on
art, culture and nature. Aesthetics deals with notions such as the
beautiful, the ugly, the sublime, or the comic, as applicable to the
fine arts.
Aesthetic judgments involve many issues. They can be culturally
conditioned, linked to emotions, and at least partly intellectual
and interpretative. It is difficult to measure the relationship
between aesthetics and emotions because of their abstract nature
and creating a metric for aesthetics has been difficult.
Cognitively, it is unclear whether the concept of beauty is due to
pre-attentive processing or to cognitive judgments. Pre-attentive
processing is the awareness of an item before the person thinks
about or focuses any real attention on the item (i.e., awareness
preceding user’s focused attention). Cognitive judgments are
evaluations of an item based on a person’s previous experiences
with other similar items. The resulting judgments may have
nothing to do with the item (i.e., user’s current evaluation is
based on previous experience).
Brand endorsement
Demonstrate your environmental credentials
Enhance your market reputation
Meet increasing supply chain tender needs
Achieve positive PR and create marketing opportunities
Motivate your employees
Engage with your customers, shareholders & other
stakeholders
The Building Blocks of the Ultimate
Brand
Brand Elasticity
Brand Elasticity or "Stretch" - Most growth initiatives today come in the
form of brand or product line extensions versus completely new products -
they're faster, cheaper and usually less risky. The likelihood for success often
depends on the strength of the "parent brand", but a critical issue will
always be the degree of cannibalization.
latin Pulse brand elasticity testing will tell you how far you can stretch a
brand for such extensions without seriously jeopardizing its integrity. It can
also identify and prioritize optimal expansion opportunities and
quantitatively measure the risks of brand erosion and/or net sales gains you
can expect.
Cinema Testing - This product was especially developed for the film
industry where the critical challenge for understanding consumer reactions
to cinema is to simulate the environment for such captive viewing. Latin
Pulse's central location testing is ideal for such a test simulation, measuring
the immediate reactions by consumer segments. This unique testing
methodology provides clear direction for final film editing and selection of
scenes to develop promotional carriers and advertising. This product is also
used to evaluate T.V. programs and soap operas.
CBBD