Brand Management (BM001)imm-gsm.s3. Integrating marketing communications to build brand equity 58...

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  • IMM GSM Page 1 of 111 BM001

    Brand Management (BM001)

    The copyright of all IMM Graduate School of Marketing material is held by

    the IMM GSM. No material may be reproduced without prior written

    permission from the IMM GSM.

    Revised: December 2012

  • IMM GSM Page 2 of 111 BM001

    Table of contents

    SECTION A

    1. Word of welcome 4

    2. How to use this guide 5

    3. Purpose and overall learning outcomes 6

    4. National Qualification Framework Specifications 7

    5. Pre-knowledge 8

    6. Relationship with other modules 8

    7. Prescribed textbook 8

    8. Curriculum 10

    9. Specific learning outcomes 14

    10. Critical cross-field outcomes 22

    11. Assessment details 24

    SECTION B

    Study Unit 1: Opening Perspectives on Branding 26

    1.1 Specific learning outcomes 27

    1.2 Brands and brand management 28

    Study Unit 2: Developing a Brand Strategy 35

    2.1 Specific learning outcomes 35

    2.2 Customer-based brand equity 37

    Study Unit 3: Designing and Implementing Brand Marketing

    Programmes

    47

    3.1 Specific learning outcomes 47

    3.2 Choosing brand elements to build brand equity 49

    3.3 Designing marketing programmes to build brand equity 53

    3.4 Integrating marketing communications to build brand equity 58

    3.5 Leveraging secondary brand associations to build brand equity 62

  • IMM GSM Page 3 of 111 BM001

    Study Unit 4: Measuring and Interpreting Brand Performance 67

    4.1 Specific learning outcomes 67

    4.2 Developing a brand equity measurement and management

    system

    68

    4.3 Measuring sources of brand equity 75

    4.4 Measuring outcomes of brand equity 78

    Study Unit 5: Growing and Sustaining Brand Equity 83

    5.1 Specific learning outcomes 83

    5.2 Designing and implementing branding strategies 85

    5.3 Introducing and naming new products and brand extensions 90

    5.4 Managing brands over time 95

    5.5. Managing brands over geographic boundaries and market

    segments

    100

    Study Unit 6: Closing Observation 106

    6.1 Specific learning outcomes 106

    6.2 Strategic brand management guidelines 107

    6.3 What makes a strong brand? 107

    6.4 Future brand priorities 108

    Bibliography 110

  • IMM GSM Page 4 of 111 BM001

    SECTION A

    1. Word of welcome

    Welcome to the exciting module of Brand Management a subject that opens up

    a world of understanding of the importance of brands and branding something

    that is part of our lives whether we like it or not.

    Even today, as you drive along a busy street, stroll in a mall, watch television,

    page through a magazine, listen to the radio, surf the net or chat on Twitter, you

    are constantly faced with numerous brands and branding messages.

    For a long time branding has been seen as part of the marketing discipline.

    Traditionally branding is part of the marketing mix, or the 5Ps: product, price,

    promotion, place and people, whereas branding is part of the augmented level of

    a product. In recent years marketing has however evolved, and now has become

    competition led with huge implications on branding, which explains why

    branding has become central to the marketing discipline.

    As brands become central to the core of many businesses, brands are now

    considered to be the responsibility of senior management and the boardroom.

    As you embark on this exciting journey of discovering branding, know that you

    will learn more than what is commonly understood when referring to a brand or

    branding as a concept. You will also learn how to think strategically about

    managing a brand and ensuring each brand becomes the responsibility of senior

    management and the boardroom.

    South Africa is now, more than ever ready for creative, original and passionate

    marketers who have the ability to build brands that will not only be successful

    within the southern African context, but also become truly global brands. We trust

    that this learning experience will equip you to be one of them!

  • IMM GSM Page 5 of 111 BM001

    2. How to use this guide

    Brand management is designed to be a combination of theory and practice and

    deals with brands why they are important, what they represent to consumers

    and what should be done to manage them properly. It focuses on the theory

    behind the application of how to manage brands. It will not only offer you an

    interesting account and analysis of brand management, it will also provide you

    with the tools for planning and implementing brand marketing programmes and

    how to sustain and grow brand equity. Experience has shown that most students

    taking this module will be brand or product assistants, especially at the earlier

    stages of their marketing careers. The goal then is to instil in you an

    understanding and healthy sense of respect for brand management. We aim to

    make you knowledgeable about the wonderful world of branding. The most

    effective way to achieve this will be to ensure that you understand and enjoy the

    module.

    The learner guide is especially designed for a student who studies at a distance.

    The guide will provide an overview of the total curriculum and will indicate the

    learning outcomes, which are essentially the core of this guide. It will provide you

    with each major topic that has to be covered, along with the learning outcomes

    for each topic, which are systematically explained. The guide will also indicate

    how the learning material must be prepared for assessment.

    The learner guide should be studied in conjunction with the prescribed textbook

    and does not replace the textbook.

    At the end of each study unit you will find some typical examples of examination

    questions which should be used for self-evaluation.

    The following icons appear in all of the learning guides of the IMM Graduate

    School of Marketing:

  • IMM GSM Page 6 of 111 BM001

    indicates learning outcomes

    indicates the sections in the prescribed textbook that you need

    to study.

    indicates the self-evaluation questions.

    3. The purpose and overall learning outcomes

    The aim of this module is to provide a comprehensive and current handling of the

    subjects of brands, brand equity and strategic brand management the design

    and implementation of marketing programmes and activities to build, measure

    and manage brand equity. One of the modules important goals is to provide the

    student with concepts and techniques to improve the long-term profitability of

    brand strategies. Current thinking and developments related to brands are

    incorporated from both academic and industry participants. These are combined

    with a comprehensive theoretical foundation and with practical insights to assist

    managers in their day-to-day and long-term brand decisions.

    As you develop your knowledge, it is essential that you also focus on how to

    implement this knowledge a critical characteristic of any first-class brand

    manager.

  • IMM GSM Page 7 of 111 BM001

    On completion of the Brand Management syllabus, you should:

    Understand the role of brands, the concept of brand equity and the

    advantages of creating strong brands.

    Understand the three main ways to build brand equity by properly

    choosing brand elements, designing marketing programmes and

    activities and leveraging secondary associations.

    Understand the different approaches to measuring brand equity.

    Be able to implement a brand equity measurement system.

    Understand the alternative branding strategies and be able to devise

    brand hierarchies and brand portfolios.

    Understand the role of corporate brands, family brands, individual

    brands, modifiers, and be able to combine these into sub-brands.

    Be able to adjust branding strategies over time and across

    geographic boundaries to maximise brand equity.

    To achieve these goals, you will not only have to carefully follow the guidelines

    and instructions of this learner guide, but you will need to observe, in your every

    day life, how these principles are implemented, and critically evaluate their

    effectiveness. The assignment described later in this learner guide, as well as the

    examinations, will evaluate to what extent you have succeeded in reaching the

    objectives of this course.

    4. National Qualifications Framework (NQF) Specifications

    This module forms an electiv