unit IV -BM
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Transcript of unit IV -BM
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BRAND MANAGEMENT
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BRAND
Name, sign, symbol, intended to identify goods
& services of one seller from another
Branding is decommodification of product
Brand name
A rose by any other name would not smell as sweet
Brand name provides an identity which differentiates
Key marketing concept of positioning, imagery are
centered around brand name
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Brand is an accumulation of emotional and
functional associations.
Brand is a promise that the product will
perform as percustomers expectations.
Branding is the process that allows anindividual or a group of individuals the ability
to provide a brand image & lettering to an idea.
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Benefits of brands
Famous and Good Brands easily attractattention of consumers.
It is an important aspect of marketing so much,
so that brand management is nothing less than a
CEOs responsibility in any company.
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Product logic(marketing mix) to brand logic
(meaning and value)
Brand
Symbol =
Brand
character+
Brand Logo
Brand Looks =
Brand Symbol
+ Brand Name
Brand
Association =
Link up in
memory with
brands
attributes,
benefits andlooks
Brand Image =Brand
Associations +
Brand
Personality
Brand
Relationship =
Brand Image +Brand Attitude
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Brand value
Brand culture (accepted truth about product) can
greatly enhance brand value
Difference between what a consumer will pay for
branded product and a physically identical product
without brand Reputational value -- perceived product quality
Relationship value -- trusted as a long term partner
Experiential value -- Shape experience of product
Symbolic value -- which expresses values &
identities
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Brand Equity
Brand equity refers to the effects of marketing on consumers'
knowledge about a brand Brand equity is one of the factors whichcan increase the financial value of a brand to the brand owner,
although not the only one.
Measuring Brand Equity
Firm Level: Can be measured through market value minus thefinancial assets of a firm.
Product Level: Comparison of price of a no-name or private
label product to an "equivalent" branded product. The
difference in price, assuming all things equal, is due to the
brand.
Consumer Level: Measuring the awareness (recall and
recognition) and brand image (the overall associations that the
brand has).
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Organization of Brands
Brand architecture the structure and
organization of brands
Brand hierarchy the different organizational
levels within a brand system
Sub-brand an identified division (other ofproducts) within a brand
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Brand Hierarchy
Branded Feature
Sub-brand
Product Line
Range
Corporate Brand HP
Imaging
Laserjet
Laserjet IV
Laserjet IV
RE
Inkjet
Systems
PCs
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Product Range Strategy
Allows multiple market entry and flexibility
Consumer-oriented branding not corporate
branding
Encourages innovation and risk taking (failurewill reflect less on corporate brand)
Possible to control greater shelf space with
strong brands
BUT expensive and requires sophisticated
organization
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Household Range of Products
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Umbrella Brand Strategy
Builds brand equity at the corporate level
Corporate brand strength is critical
Reduces marketing investment in new
categories
Allows fast-follower strategies in innovative
companies
Easier for horizontal rather than vertical
extension
Risk of over-stretching
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Endorser Brand Strategy
Allows dual brand equity to develop
Quality seal of approval
Cheaper method of building brand equity in
company name
Use product brands to express different aspects of
personality
Requires comprehensive understanding of brand
values
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Corvette Z06
Corvette Conv
Corvette Coupe
10 Yukon Denali
10 Yukon XL Denali
10 Yukon Denali HB
09 H3
09 H2 SUT
09 H2 SUV
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Brand Extension
Pros
Facilitate new product acceptance
Increase profits
Avoid cost of developing a new brand Appeal to new consumers
Revitalize the brand
Prevent marketing myopia
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CONS
Hurt parent brand image
Dilute brand image (diluted investment)
Confuse consumers
Alienate existing consumers
Retailer resistance
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Brand Alliance
Co-operative marketing of brands/ products that
have the same utility or target segment
Event relatedDLF-IPL
Operations relatedStar Alliance (airline industry)
Collective brand assetsMcDonalds and Coke
Complementary productsIntel