Unit-III IV Brand Management

8/2/2019 Unit-III IV Brand Management

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Unit-III

BRAND CONCEPT

1. Nature and Importance of Brand2. Types of Brands

3. Strategic Brand Management Process

4. Brand Identity Perspectives

5. Brand Identity Prism

6. Identity Levels7. Concepts and Measures of Brand Equity

8. Brand Assets And Liabilities

9. Aaker Model of Brand Equity

10. Designing Marketing Programs to build brand Equity

11. Customer Based Brand Equity12. Brand Loyalty

13. Measures of Loyalty

14. Branding Strategies-product line, range and Umbrella Branding


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Unit-III

BRAND PERSONALITY15. Definition,

16. Measures and

17. Formulation

18. Brand Image Dimensions

19. Stages of Concept Management for Functional

20. Symbolic

21. Experiential Brands


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A brand is..

A name or symbol that distinguishes the goods or services of one sellergroup from those of competitors.

A BRAND represent everything that a product or service means toconsumers.

What is a Product? A product is anything that can satisfy be offered to a market for attention,

acquisition, use or consumption that might satisfy a want or need

What is Brand? A brand is a name, term, sign, symbol, or design or a combination of them,

intended to identify the goods or services of one sellers and to differentiatethem from those of competitors.- AMA


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A brand is..

Few Definitions:

The Intangible Sum of a products attributes: its name, packaging, andprice,, its history, its reputation, and the way its advertised.

-David Ogilvy

A brand is a name, term, sign, symbol,, or design, or a combination

of them, intended to identify the goods and services of one seller orgroup of sellers and to differentiate them from those of thecompetitor. - P. Kotler

Branding means creating an emotional association that customers

form with the product, service, or company. -Jared Spool


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Unit-III

BRAND CONCEPT

Branding is supposed to be the process by which the true character and

purpose of the company is communicated. And this process is a strategythat is consistently applied through the entire firm, hopefully creating anaura of trust; an appreciation of uniqueness; and a set of expectations.

NATURE AND IMPORTANCE OF BRAND

A brand is a collection of perceptions in the mind of the consumer. Brand is everything what marketers want to communicate to consumers

and what marketers communicate.By definition, brand is whatever the consumer thinks of when he or she hears

your companys name.

A brand is a promise. By identifying and authenticating a product or

service it delivers a pledge of satisfaction and quality. Its a bundle of functional and emotional benefits A name with a reputation A mark of pride A simplifier of choice

A product or service with an attitude


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Unit-III

BRAND CONCEPT

Branding has come a long way in India and also around the world. The word brand comesfrom the word "brandr, a word used by early Norse tribesmen meaning to burn,

as in branding livestock to declare ownership. No doubt, anyone who has read

cowboy stories is familiar with the concept of branding cattle.

Over time branding of cattle became not just mark of ownership but also of quality. In theChicago meat market, buyers recognized quality beef through the brand mark on

the cattle. This was because the ranches which produced better quality of meat didso as it impliedbetter grass or more adequate supply of water, better living

conditions for the cattle or a shorter journey to the meat market. No longer was

meat on the hoof a commodity, it was branded and the better quality wasrecognizable.

In the earliest form, a brand mark defined quality, a mark which differentiated a qualityproduct from other similar products. Many years ago, in the Soviet Union, when

products were sold under a generic name, the factory manufacturing the producthad to mark its identity on the packaging. Customers soon realized that a detergent

powder produced in one factory was superior to another in quality. Eventually,housewives would turn the packaging around while purchasing to identify theorigin of the product and make their choices on the basis of its manufacturing

location. The serial number of the factory had become a brand as it is differentiatedfrom other similar detergents, which, according to the state, were supposed to beidentical in formulation and in every other way. This is similar to the Nirma story

where the brand name was the only differentiator between totally similar products

in the Ahemadabad market in the early 1970s


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Unit-III

BRAND CONCEPT

Role of Brands - What are brands for

1) A brand identifies the seller or maker.

2) A Protector for both the consumer and the producer.

3) A brand reduces the primacy of price upon the purchase decision.

4) It accentuates the bases of differentiation.

5) A brand is a promise

6) A brand gives the seller the opportunity to attract a loyal and profitable setof customers.

7) Strong brands help build the corporate image, making it easier to launchand gain acceptance by distributors and customers.

8) Managing a positive brand image creates opportunities to introduce newproducts that build on brand equity. It helps to attract and retain goodemployees and it improves the stockholders
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Unit-III

Brand Characteristics(Six levels of Brand)

The world is rapidly shrinking . There may be various viewpoints throughwhich a person may perceive the brand in a particular way.

Lets take Mercedes Benz for example:

Attributes:

The company may use one or more of the attributes to advertise the car.

Benefits: Customers are not buying attributes, they are buying benefits.Attributes need to be translated into emotional and functional benefit.

Values: The brand also says something about the producers values.

Culture: The brand may represent a certain culture.

Personality: The brand can also project a certain personality. If the brand werea person, an animal, or an object, what would come to mind?

User: The brand suggests the kind of consumer who buys or uses the product.
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Unit-IIIBRANDING CONCEPT

Brand Width: It is the extension of the brandoutside its original product category.

Brand Length: It is the brands franchise in

terms of age groups, consumer types andinternational appeal.

Brand Depth: It is the brands ability to create

consumer loyalty by offering variants ineach element in the brand length.

Brand Weight: It is the influence of the brandin its category or market.


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Example:

Brand Width:Motorcycles, 4 wheel drive automobiles,Sport and Utility automobiles, Small engine parts, outboardmotors and marine products.

Brand Length:MotorcyclesSwift, Samurai,Sidekick etc.

Brand Depth:Swift Chevy Sprint, Geo Metro(Variations of the Swift, Essentially the same Swift

motorcycle.)


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Unit-III

Elements of a Brand

Certain factors should be considered before selecting a brand name.

They are as follows:

1. Distinguish the product from competitive brands

2. Memorable and easy to pronounce

3. Easy to say, spell and pronounce

4. It should allude to the product

5. Negative or offensive references should be avoided.

6. Evoke positive mental image

7. Evoke positive emotional reaction

8. Suggest product function or benefits

9. Simple

10. Sound appropriate

11. Be unique Possibly, translate well in other languages too.
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2. TYPES OF BRANDS

A. FUNCTIONAL BRANDS

Here, the functional dimension of the brand is far morevisible and appealing than the emotional or symbolicdimension.

E.g. Nivea, Desprin

B. SYMBOLIC BRANDSHere, the symbolic or emotional dimension is more

prevalent than the functional dimension. The decisionswould be based on more of the emotional aspect thanthat of rational aspect. In the circumstances whereconsumer buying is emotions driven, the brand mustaccordingly focus on symbolic or emotional aspects.

E.g. ICICI Prudential, LIC
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Unit-III2. TYPES OF BRANDS

The functional dimension is the products attributes andbenefits or the tangible properties while the

symbolic dimensions are the intangible aspects ofthe brand. A marketer can combine these two

elements to create the right appeal for customers.

In consumer behaviour the rational and emotionalperspectives are two models that explain how

consumers make purchase decisions. Successfulbranding, therefore, depends on combining the

rational and emotional components of a brand in a

manner that it becomes consistent with theconsumers frame of mind.


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Different types of brands Product Brands

Service Brands E-brands

Media Brands

Not-for-profit Brands Nation Brands Government Brands

Global Brands

Organization Brands


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3. Strategic Brand Management Process

Identifying and creating Brand Positioning

Planning and Implementing Brand Marketing Programs

Measuring and Interpreting Brand Performance

Growing and Sustaining brand Equity

U it III


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Unit-III

4. Brand Identity PerspectivesA Brand Building Concept

Brand identity is a unique set of brand associations that the brandstrategist aspires to create or maintain. These associations

represent what the brand stands for and imply a promise tocustomers from the organization members.

1. Brand identityconsists of a core identity and an extended identity.The core identity represents the timeless essence of a brand .It iscentral to both the meaning and success of the brand. It is generally

the first word that people behind the brand may utter when askedwhat the brand stands for:

Lux - Beauty bar for young women

Dettol - Antiseptic, protection

Johnson&Johnson - Trust and quality a baby needs
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Unit-III


Brand Identity Prism-gauging the identity for Brand.

BUT

What is it? Brand is a person.

When should it be used? Any time

How to use it? Involve others


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The Model has 6 evaluative dimensions:-

1. Physical Facets or Quality

2. Brand personality

3. Brand Culture4. Brand Relationships

5. Customer Reflection

6. Customer Self Image


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1. Brand having a Physical Facets or Quality: talks about what the product is,what does it do, how does it add value to customers, how does it fill up the gap inthe market. it is a combination of either salient objective features or emergingones.

2. Brand personality A brand has a personality of its own. By communicating, it

gradually builds up the character. The way in which it speaks of its products orservices shows what kind of person it would be if it were human being. This isalso called the personification of the brand and this helps in the instant productalignment with the target customers.

It is measured using those traits/features of consumer personality that are directlyrelated to brands. Proper care should be taken not to confuse it with consumer'sreflection. Brand personality is closely linked with self image and image of the

consumer. Questions to be asked are:

1) What are the features of consumer personality?2) What are the features of brand if it was a person? This depends on thefunctional aspect of the product and the gap it would fill.

3. Brand having its culture:The product is not only a concrete representation of itsculture, but also a means of communication. culture means a set of values

feeding the brand's inspiration.The cultural facets refer to the basic principles governing the brand in its

outward signs like products and communication. This essential aspect is at thecore of the brand.


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4. Brand Relationships:Brands are often at the crux of transactions andexchanges between people. This is particularly true of brands in the servicesector and also in retails. Service is by definition is a relationship. Every

brand has to maintain healthy relationships with customers.

5. Brand is a reflection:Every product is designed to satisfy some need ofthe intended customer base. A consumer has to be reflected in a way,which would show how he or she could image himself consuming aparticular good.

For example, in India anyone consuming Pepsi Cola would imagine himself to be youngand Thumps up (another cola drink from Coke stable) to be adventurous.

For this aspect, questions are to be put to customer experience team about What would theusers imagine while using the product?

6. Customer Self Image:Consumers get attracted to those brands in which

they see their own traits, for example, a man who is muscular and strongwould smoke Marlboro. This goes hand in hand with brand personality


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Unit-III



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How have Adidas used theinstrument Branding, and

which roll did it play in the

competition between

Adidas and Nike?


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Physical product Personality

Culture

Self imageReflection

Relation

Brand Identity Prism - Nike

Sports and

fitness

Like Jordan, Woods

American

Just do It!

Cool

Athlete

Aggressive,

Provocative,

In-your-face

Sponsorship,

Ethics


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Physical productSports and

fitness

PersonalityTraditional, Conser-

vative, Collective

CultureEuropean

Traditional

Self-Image

Relates more to

competing than to

winning

Reflection

True sportsmanship

Strong work ethic

A good team player

RelationQuality and

Heritage

Brand Identity Prism - Adidas


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No Brand Loyalty-

(Switchers - with no loyalty)

Satisfied Customer(Shifting Loyals - moving from one brand to another.)

Satisfied & Switching Cost

Values the Brand(Split Loyals - loyal to two

or three brands.)

Devoted

to BrandHard-core Loyalswho buy the brand

all the time.

6. Five Levels of Customer Attitudestoward a brand

Unit-III


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Unit-III

7. Concepts and Measures of Brand Equity

Understanding Brand Equity

The set of assets and liabilities linked to a brands name or

symbol that add to or subtract from the value providedby the core product or service.

Brand equity is defined in terms of the marketingeffects uniquelyattributable to the brands -- for example, when certain outcomesresult from the marketing of a product or service because of itsbrand name that would not occur if the same product or servicedid not have that name. -Keller

A set of assets and liabilities linked to a brands name and symbol that

adds to or subtracts from the value provided by a product orservice to a firm and/or that firms customers. -David Aaker


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Brand Equity

The major asset and Liabilities categories are:

1. Brand Name Awareness - A Brand Building Concept

2. Brand Loyalty

3. Brand Association

4. Perceived Quality

5. Other Proprietary Brand Assets
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Brand Equity

The major asset and Liabilities categories are: Brand Name Awareness - A Brand Building Concept

the strength of a brands presence in the consumers mind

Awareness is measured through recognition Recognitions reflect familiarity gained from past exposure. Recognition does

not necessarily involve remembering where the brand was encounteredbefore why it differs from other brands or even what the brands product class

is. It is simply remembering that there was a past exposure to the brand.When consumers see a brand and remember that they have seen it before

they realize that the company is spending money to support the brand. Sinceit is generally believed that companies will not spend money on products

consumers take their recognition as a signal that the brand is good.

Companies often rerun advertisement on different

channels over the year to sustain the brand awarenessand ensure that the consumers are exposed to the brand.E.g. Complan, Airtel, Pepsi, Cadbury etc.

B d E it


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Brand EquityThe major asset and Liabilities categories are:

Brand Name Awareness - A Brand Building Concept

FACTORS AFFECTING BRAND AWARENESS Brand Awareness refers to the strength of a brands presence in the consumers mind. Awareness is measured according to the different ways in which consumers

remember a brand, ranging from recognition to recall to top of the mind. Some of themajor factors affecting brand awareness are: -

Brand Name: One of the most important factor affecting brand awareness is the brandname. Brand name plays an important part in creating awareness for a brand. Alsowhether the name is really very meaningful or completely baseless they both affect

brand awareness. Bacardi Breezers - flavoured aerated vodka based drink Fevi Stik - adhesive Centre Shock chewing gum. Advertising: Advertising also helps to create Brand awareness in a big way. Take any

brand name Fevicol, Vicks, Pepsi all have used ads for creating awareness amongtheir consumers.

Celebrity:- Another important factor affecting Brand awareness is the celebritiesendorsing the Brand. Whenever you see a celebrity you love endorsing a brand youtend to propagate the Brand.

Coca Cola experienced a tremendous increase in brand following post adcampaigns with Hrithik Roshan and Kaho Na Pyaar Hai.

Parent Company:- To a large extent the parent company helps in promoting a brand.The parent company in many cases is so popular that its brand automatically becomepopular and people become aware about the product.

B d E it


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Brand Equity



FACTORS AFFECTING BRAND AWARENESS The popularity of local restaurants such as J.W.Marriot has been boosted

by the page 3 mentions in the Bombay Times supplement of The Timesof India.

Direct Selling: - Some of the companies use direct selling as a platform to

create brand awareness. Eureka Forbes water filter AQUA GUARD. Peer Group Opinion: - Peer group opinion also plays an important part in

the whole brand awareness exercise. Usually people tend to discuss a lotabout the brand and tend to share their experiences or some recent adsthey have seen which in turn increases brand awareness of their peers.

When opting for cellular network services (irrespective of prepaid orbilling), most people generally go by the opinions of their friends andcolleagues.

Recall Of Ads: - In some cases the brand awareness is also high due tospecific ad recall, which is very high.

Amaron battery advertisement of race between tortoise and rabbit with thetagline LAST LONG REALLY LONG.

B d E it


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Brand Equity



FACTORS AFFECTING BRAND AWARENESS TATA always promotes it brand with its name along with the brand

such as TATA INDICA, TATA INDIGO, TATA SALT.

Sales Promotions And Offers: - It also helps in making the consumersaware of the brand. Some of the sales promotion activities thatcompanies carry out help them in a big way to make their target awareof the brand.

Reliance India Mobiles Monsoon Hungama offer, wherein they offeredtheir WLL services at an affordable price.

1st Mover Advantage: - Usually the company that enters a productcategory first has good awareness about its brand. Usually peopletend to remember the first player to enter the market.

Parle products BISLERI in the packaged water segment. Public Relations: - The coverage that the fourth estate and magazines

provide a brand also helps in building awareness about a brand.

B


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Brand Equity


Brand Loyalty-A Brand Bulding Concept

Brand loyalty is the ultimate goal a company sets for abranded product. A companys main question in relation toselling their products or services use do be: How do I getpeople to buy my product? Nowadays companies still

greatly appreciate the answer to this question but theyhave also realized that getting customers is not the onlything they need to do. In todays rapidly moving worldconsumers dont stick with products for life.

Advertisements and an increased feeling of independence

have created consumers that will switch brands or productsas soon as the feel the need to do so. What companyslook for in this consumer environment is creating a so-called brand loyalty?

B d E i
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Brand Equity

The major asset categories are:

Brand Loyalty-A Brand Bulding Concept

Brand loyaltyis a consumers preference to buy a particular brand ina product category. It occurs because consumers perceive that thebrand offers the right product features, images, or level of quality at

the right price. This perception becomes the foundation for a newbuying habit. Consumers initially will make a trial purchase of thebrand and, after satisfaction, tend to form habits and continuepurchasing the same brand because the product is safe and familiar

Brand loyalists have the following mindsets:

I am committed to this brand. I am willing to pay a higher price for this brand over other brands.

I will recommend this brand to others.

B d E it
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Brand Equity


Brand Loyalty-A Brand Building Concept

LOYALTY SEGMENTATION:

Loyalty segmentation helps in building strong brands. A market can usually bedivided into the following groups:

Non customers: Those who use the competitors brand or are not

product class users.

Price switchers: Those who are price switchers.

The passively loyal: Those who buy out of habit rather than reason.

Fence sitters: those who are indifferent between two or more brands. ( theseguys sit on the fence and watch - not bothered )

The committed: those who are committed to our brands. (Hard Core LoyalCustomers ! These guys are brands Asset ! :) )

B d E it


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Brand Equity


Brand Loyalty-A Brand Building Concept

LOYALTY SEGMENTATION:

The challenges to improve the brands loyalty profile are to increase the number

of customers who are not price switchers, to strengthen the fence sitters andcommitted ties to the brand and to increase the number who would pay more touse the brand or service. Two segments where the companies generally under

invest are passively loyal and the committed customers. The passively loyalcustomers are often taken for granted. At the other end of the spectrum are thehighly loyal or committed customers. Firms also tend to take this group forgranted. Yet there may be significant potential to increase business from the veryloyal.

The loyal Marriott customer might be encouraged to select even more than often

with a improved portfolio of business support services such as fax machines inrooms.

Further there is a risk that loyal customers can be enticed away by a competitor ifthe performance of the product or service is not improved. For these reasonsfirms should avoid diverting resources from the loyal core to the non-customersand price switchers. One approach to enhancing the loyalty of fence sitters andthe committed is to develop or strengthen their relationship with the brand.

B d E it


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Brand Equity


Brand Recall - A Brand Building Concept

A brand (Bisleri) is said to have recall if it comes to consumers minds when

its product class (mineral water) is mentioned. It indicates stronger brandposition in the mind. Still at a higher level is the top of the mind recall; it is

the brand, which comes first to the mind. The top of mind awarenessindicates a relative superiority a brand enjoys above others. Sometimes abrand becomes so dominant that it becomes the only recalled brand in theproduct category. Very few brands are able to achieve dominance. Thecases may include Johnson & Johnson baby powder, Dettol antiseptic,Colgate and Cadbury.

Brand Equity
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Brand Equity


Brand Association - A Brand Building Concept

The associations consumers make with brand support brand equity.

These associations may include product attributes, a celebrity spokesperson or asymbol.

Brand associations are driven by brand identity-what the organization wants the brand

to stand for in the consumers mind. A key to brand building then is to develop andimplement brand identity. One key to successful brand building is to develop a brandidentity- to know what the brand stands for and to effectively express that identity. -Hyundai Santro has clearly positioned itself as the sunshine car and endorsed PreityZinta known for her bubbly personality to match their positioning statement. Invariablyall brands come to acquire a meaning in the mind of the customer. Customersassociate different dimensions of the product including its use and use situations to thebrands. Brand association, therefore, is anything linked to the memory of a brand. Thusa jingle like Happy days are here again has been associated in the customers mindwith Thumps Up. Surf is linked with the economy-minded middle class housewife-Lalitaji in the advertisements.

The nameTatais associated with quality. It is important to know how strong thisassociation is and for a family name like this, which are the products with which thisassociation is the strongest.

Brand Equity
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Brand Equity


Perceived Quality -

A brand will have associated with it a perception of overall quality,which is not necessarily based on knowledge of detailed

specifications. The quality perception may take on somewhat differentforms for different types of industries. Perceived quality meanssomething different for Compaq or IBM than for Coca-Cola or Pepsi.Perceived quality will directly influence purchase decisions and brandloyalty, especially when a buyer is not motivated or able to conduct adetailed analysis. It can also support a premium price, which, in turn,

can create gross margin that can be reinvested in brand equity.Further, perceived quality can be the basis for a brand extension. If abrand is well-regarded in one context, then the assumption will be thatit will have high quality in a related context.


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Other Proprietary Brand Assets -

This fifth category represents such other proprietarybrand assets as patents, trademarks, and channelrelationships. Brand assets will be most valuable if theyinhibit or prevent competitors from eroding a customer

base and loyalty. These assets can take several forms.For example, a trademark will protect brand equity fromcompetitors who might want to confuse customers byusing a similar name, symbol, or package. A patent, ifstrong and relevant to customer choice, can preventdirect competition. A distribution channel can becontrolled by a brand because of a history of brandperformance.


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Unit-III

BRAND CONCEPT10. Designing Marketing Programs to

build brand Equity


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Unit-III

BRAND CONCEPT11. Customer Based Brand Equity


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Unit-III

BRAND CONCEPT

12. Brand Loyalty


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Unit-III

BRAND CONCEPT13. Measures of Loyalty


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Unit-III

BRAND CONCEPT14. Branding Strategies-product line,

range and Umbrella Branding


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Brand Strategies

Brand

Extension

New

BrandName

Product Category

Line

Extension

Existing

Existing

Multi-brandsNew NewBrands

Cobranding


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Introduction of additional items in the same product

category under the same brand name :new flavors,

forms, colors, sizes, etc.

Line Extensions


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Multi brands

Introducing new brands into the same product category

All are Lever Brothers products


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Two or more well known brands are paired in a single offering

Co-branding


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Brand Extensions

Using an existing brand name to launch new products in

other categories


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Unit-III

BRAND CONCEPT


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Unit-III IV Brand Management

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