Download - Intro to brand

Introduction to Brand Management - II

Coming up…

• Little more about “Brands”• Brand v/s Products• Need/ role of Brands• Strategic Brand Management – an Introduction• Customer-based Brand Equity

Ref: Strategic Brand Mgmt. – Kevin Kelly

Brands

• Brand – “to burn”• AMA definition – Name, term, sign, symbol, design or a

combination of them….identify…. Differentiate from competition

Pears soap was the first registered brand as per Unilever

JWT first introduced trademark advertising in 1900 through a house advert

Awareness, Reputation, Prominence in marketCareful selection of brand elements

Brand v/s products

Kotler’s definition• Core Benefit• Generic Product• Expected Product• Augmented Product• Potential Product

Brand:• Product

+or- perceived

differentiator• Rational & Tangible• Performance based• Symbolic, emotional

Brand = Product + customer perception +performance + brand name + company


Role of brands – for Customers

• Identification of source of product• Assignment of responsibility to the product maker• Risk reducer• Search cost reduces• Promise, bond, with maker of product (KF airlines)• Symbolic device• Signal of quality (arrow shirts)


Role for Manufacturer

• Identification for handling• Patenting – Legal IPR protection etc• Signal of quality level – price ranges• Endowing products with unique associations• Competitive edge• Financial returns


How can Brand Equity be created?

3 important questions


How can BrandEquity be measured?

How can Brand Equity be used to expand Business

opportunities?

Strategic Brand Management• Design and implementation of Mktg. programs to build, measure

and manage brand equity

Identify and Establish Brand Positioning and Values

Plan and implement Brand Marketing Programs

Measure and Interpret Brand Performance

Grow and sustain Brand Equity

•Mental Maps•Competitive frame of reference•Points of parity and Points of difference•Core brand Values•Brand Mantra

• Mixing and matching of brand elements• Integrated brand marketing activities• Leverage of secondary association


• Brand-product mix• Brand Portfolios and hierarchies• Brand expansion Strategies• Brand reinforcement and revitalization

Strategic Brand Management

Identify and Establish Brand Positioning and Values

Plan and implement Brand Marketing Programs

Measure and Interpret Brand Performance

Grow and sustain Brand Equity

• Brand Value chain• Brand audits• Brand Tracking• Brand Equity Management System


Building Customer-Based Brand Equity

1. Brand building tools and objectives

2. Consumer knowledge effects

3. Branding Benefits



Choose Brand Elements

Brand name

Logo

Symbol

Character

Packaging

Slogan

Memorability

Meaningfulness

Likability

Transferability

Adaptability

Protectability



Developing Marketing Programs

Product

Price

Distribution Channels

Communications

Tangible and intangible

benefits

Value Perceptions

Integrate “Push” & “ Pull”

Mix and match options



Leverage on secondary associations

Company

Country of origin

Channels of Dist.

Other Brands

Endorsor

Event

Awareness

Meaningfulness

Transferability


Consumer Knowledge Effects

• Brand Awareness– Depth

• Recall • Recognition

– Breadth• Purchase• Consumption

• Brand Associations– Strong

• Relevance• Consistence

– Favourable• Desirable• Deliverable

– Unique• Points of parity• Points of difference

3. Possible outcomes

• Greater Loyalty• Less vulnerability to competitive marketing actions and

crises• Larger Margins• More elastic response to price decreases• More inelastic response to price increases• Greater trade cooperation and support• Increased marketing communication efficiency and

effectiveness• Possible Licensing opportunities• More favourable brand extension evaluations

Measuring Customer-based Brand Equity

1. Brand AuditA. Brand Inventory

B. Brand Exploratory

2. Brand Value ChainA. Brand equity sources

B. Brand equity outcomes

3. Brand equity management systemA. Brand Equity Charter

B. Brand Equity Report

C. Brand Equity Responsibilities

Managing Customer Brand Equity

1. Define Brand hierarchyA. Principle of Simplicity

B. Principle of relevance

C. Principle of differentiation

D. Principle of prominence

E. Principle of commonality

2. Define Brand- Product mixA. Brand extensions

B. Brand Portfolio

3. Enhance Brand Equity over timeA. Brand Reinforcements

B. Brand revitalization4. Establish B.E. over

market segmentsA. Identify differences in consumer

behavior

B. Adjust Branding program