Branding & Brand Management_week1

8/6/2019 Branding & Brand Management_week1

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BrandingandBrand Management


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What is a Brand?

A brand is a name, term, sign, symbol, ordesign

which is intended to identify the goods orservices of one seller or group of sellers

and to differentiate them from those ofcompetitors.

(AMA)


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Brand Definitions

A bundle of intrinsic and extrinsic offerings blendingboth functional and psychological benefits.

(Gardner and Levy 1955)

A successful brand is an identifiable product, service,person or place, augmented in such a way that thebuyer or user perceives relevant unique addedvalues which match their needs most closely.Furthermore, its success results from being able tosustain these added values in the face of competition.

De Chernatony and McDonald (1998)


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Products are made in the factory,but brands are created in the mind

Walter Landor,

branding consultant


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Product versus Brand

Perceptions & feelings about attributes


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Launched by Mr Mathlouthi, the French entrepreneur in

November 2002 Slogan: "No more drinking stupid, drink with commitment"

10% of the profits go to charities operating in Palestinian

territories (UNICEF) and 10% to European NGOs.


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Hell is the official drinks partner of the William'sFormula One team.

It is marketed in 16 countries including Kazakhstan.


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Why do brands matter for the

companies?

Means of identification to simplify handling

Legally protectingunique features

Signal of quality level to satisfied customers

Source of financial returns

Source of competitive advantage


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New Branding Challenges

Brands are important as ever due to:

Consumer need for simplification

Consumer need for risk reduction (time, psychological. social, financial., physical )

Brand management is as difficult as ever:

Savvy consumers

Increased competition

Decreased effectiveness of traditional marketing toolsand emergence of new marketing tools

Complex brand and product portfolios


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What can be branded?

Physical good

Service

Store

Person

Place

Org-on Idea

Sub-components


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Can anythingbe branded?

Idaho potatoes California raisins


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brand versus Brand


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Most Valuable Ten Brands in 2009

1. Coca-Cola 68,734 ($m)2. IBM 60,211 ($m)

3. Microsoft 56,647 ($m)

4. GE 47,777 ($m)

5. Nokia 34,864 ($m)6. McDonald's 32,275 ($m)

7. Google 31,980 ($m)

8. Toyota 31,330 ($m)

9. Intel 30,636 ($m)10. Disney 28,447 ($m)

Source: Interbrand Annual Survey (Http://www.interbrand.com.league_chart.html


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The Concept of Brand Equity

Aset of assets linked to a

brands name and sym

bol t

hatadds to the value provided by a product or service to a

firm and/or that firms customers.(D. Aaker)

Brand equity is the willingness for someone to continueto purchase your brand or not. (Brand Equity Board)


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Determinants ofCustomer-Based Brand Equity

Customer is aware of andfamiliarwith the

brand

Customer holds some strong, favorable, andunique brand associations in memory


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The Concept of Brand Equity

The brand equity concept stresses the importance ofthe brand in marketing strategies.

Brand equity is defined in terms of the marketingeffects uniquely attributable to the brand.

Brand equity relates to the fact that different outcomesresult in the marketing of a product or service becauseof its brand name, as compared to if the same productor service did not have that name.


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Strategic Brand Management

involves the design andimplementation ofmarketing programs andactivities to build, measure,and manage brand equity.


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Strategic Brand Management Process

Mental maps

Competitive frame of reference

Points-of-parity and points-of-difference

Core brand values

Brand mantra (3-5 words expression of the most

Important aspects and values (essence, promise)Mixing and matching of brand elements

Integratingbrand marketing activities

Leveraging of secondary associations

Brand Value Chain (sources and outcomes)

Brand audits

Brand tracking

Brand equity management system

Brand-product matrix

Brand portfolios and hierarchies

Brand expansion strategies

Brand reinforcement and revitalization

KEY CONCEPTSSTEPS

Grow and SustainBrand Equity

Identify and EstablishBrand Positioning and Values

Plan and ImplementBrand Marketing Programs

Measure and InterpretBrand Performance


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The Key to Branding

For branding strategies to be successful,

consumers must be convinced that there aremeaningful differences among brands in theproduct or service category.

Consumer must not think that all brands in the

category are the same. PERCEPTION = VALUE

Branding & Brand Management_week1

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