Leveraging Brand Knowledge

7/30/2019 Leveraging Brand Knowledge

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Leveraging secondary Brandknowledge


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Consider the following Scotch

Tata

Vaio

Force India Amitabh Bachan

Danny boyle

Wholesale

Peter

Nano

Sony

Mcdonalds

Kingfisher Parker

Oscars

Metro


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Thus Geography/ countries

Companies

Other brands

Characters

Events Spokespersons

Third party sources

Channels of distributions


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It is.. Leverage of related secondary brand associations

i.e. brands themselves may be linked to other

entities that have their own knowledge in the mindsof the consumers

In effect some associations or responses becometransferred from other entities to the brand.

This indirect approach of brand building is known asleveraging secondary brand knowledge


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Consider thisYou are into business of coffee

Selling high quality beans and powderproduced from Karnataka

You want to diversify into packagedfood

How many secondary associations canyou relate?


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Conceptualizing the leveraging

process Creation of new brand associations

Effects on existing brand knowledge

Awareness and knowledge of the entity

Meaningfulness of the knowledge of theentity

Transferability of the knowledge of theentity


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Guidelines Commonality leveraging strategy

Complimentary branding strategies


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Company Three main options for new brands

Create a new brand

Adopt or modify an existing brand

Combine an existing and new brand


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Country of origin and other

geographic areas Champaign

Scotch

Pasta

Burger


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Channels of distribution Transfer of store image

Store associations


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Co-Branding New product can be linked with existing

corporate or family brand which has its

own set of associations


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Advantages and Disadvantages Borrow needed

expertise

Leverage equity youdont have

Reduce cost ofproduct introduction

Expand brandmeaning

Source of additional

revenue

Loss of control

Risk of brand equity

dilution Negative feedback

effects

Lack of brand focusand clarity

Organizationaldistraction


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Ingredient Branding Involves creating brand equity for

materials, components or parts that are

necessarily contained within otherbranded products

Teflon non stick

Dolby


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Requirements for ingredient

branding Consumers must perceive that

ingredient matters to the performance

Consumers must be convinced that itssuperior

There should be distinctive way (logo)to

communicate the ingredient


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Licensing involves contractual arrangements

whereby firms can use the names,

logos, characters and so forth of otherbrands to market their own brands forsome fixed fee.

Spiderman


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Celebrity endorsements


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Cont..

Using well known and admired peopleto promote products.

The idea being..

Famous person can draw attention to abrand

Shape the perceptions of the brandbased on the knowledge they haveabout that person.


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Q ratings

Rate the following on

One of my favorite

Very good

Good

Fair Poor

Never heard of him/her


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Consider them..

SRK

Amir khan

Brad Pitt

Akshay Kumar

Sudeep

Al pacino

Daniel radcliffe

Sachin Tendulkar

Wayne Rooney

David Beckham

Michael Jackson

Magic Jhonson


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Potential Problems

They may be over used lacking specific productcharacteristics or seen as opportunist or insincere

There must be a reasonable match betweencelebrity and the product

Raj Thakery endorsing Bihar state tourism

Celebrity are not always celebrities Faith in celebrity, they only endorse but never use

them.

Distraction from brand ( Dyna, Vivel, Fiama-de

wills)


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Events

Sponsored events can contribute tobrand equity by becoming associated to

the brand and improving the brandawareness

Also improves strength, favorability and

uniqueness of existing associations


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Third party sources

Indian dental association

ISI

Leveraging Brand Knowledge

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