Download - Intro to Brand Part 2

7/29/2019 Intro to Brand Part 2

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Intro to BrandingPART-II

Prof. Chaitali Chandarana


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PHYSICAL GOODS

Physical goods are traditionally associatedwith brands and include many of the best-known and highly regarded consumer

products e.g., Coca-Cola, Kelloggs, Kodak,

Marlboro, Sony, Mercedes-Benz, andNescaf.

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SERVICES

Although there have been strong service brands foryears

e.g., American Express, British Airways, Hilton Hotels,Merrill Lynch, and, more recently, Federal Express, the

pervasiveness and level of sophistication in brandingservices has accelerated in the past decade.

Recent years have even seen corporate brand campaignsfrom professional service firms such as

PricewaterhouseCoopers, KPMG, Ernst & Young, andGoldman Sachs.

Citibank launched a $100 million ad campaign in 2000with the tag line Live richly.

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One of the challenges in marketing servicesis that relative to products, they are moreintangible and more likely to vary in qualitydepending on the particular person or

people involved in providing the service. Branding a service can also be an effective

way to signal to consumers that the firm hasdesigned a particular service offering that isspecial and deserving of its own name.

Branding has clearly become a competitiveweapon for services.

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RETAILERS AND DISTRIBUTORS

To the retailers or other channel membersdistributing products, brands provide anumber of important functions.

Brands can generate consumer interest,patronage, and loyalty in a store, andconsumers learn to expect certain brandsand products from a store.

To the extent that

you are what yousell, brands help to create an image andestablish a positioning for the store.

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Retailers can also create their own brand image byattaching unique associations to the quality of their

service, their product assortment andmerchandising, and their pricing and credit policy.

The appeal and attraction of brands can permit

higher price margins, increased sales volumes, and

greater profits. These brand name products maycome from manufacturers or other external sourcesor from the store itself.

Retailers can introduce their own brands byusing their store name, creating new names, orsome combination of the two.

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ONLINE PRODUCTS ANDSERVICES These businesses learned the complexities andchallenges of building an online brand. Online brands

came in many different forms, with business modelsbased on selling information, products, experiences, andso on.

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Sports, Arts andEntertainmentA special case of marketing people and

organizations as brands is in the sports, arts, andentertainment industry.

Sports marketing has become highly sophisticated inrecent years. Example: IPL and sports matches.

By building awareness, image and loyalty, thesesports are able to meet ticket sales targetsregardless of what their teams actualperformance might turn out to be.

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Geographic Locations

In this case, the brand name is relatively fixed by theactual name of the location. The power of branding is inmaking people aware of the location and then linkingdesirable associations.

The goals of these types of campaigns are to createawareness and a favorable image of a location that willentice temporary visits or permanent moves fromindividuals and businesses alike.

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Ideas and Causes

Numerous ideas and causes have becomebranded, especially by nonprofitorganizations. These ideas and causes may

be captured in a phrase or slogan and evenbe represented by a symbol (e.g: AIDSribbons).

By making the ideas and causes more

visible and concrete, branding can providemuch value.

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BRANDING CHALLENGES ANDOPPORTUNITIES Savvy Customers

Increasing Competition & trade power

Growth of Private labels.

Fragmenting Media Coverage

Increasing cost of product introduction &support.

Increasing Job Turnover.

PLC are shrinking due to touchcompetetion.


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Advantages

TO Consumers:

Identification of source of products

Quality assurance

Easy to trust and loyalty increases after every purchases.

TO Manufacturer:

Legal Protection

A approach to promote & deliver quality goods

Financial returns on leading brands.


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Strategic Brand Management Process1. Identifying and establishing brand positioning and values.2. Planning and implementing brand marketing programs3. Measuring and interpreting brand performance

4. Growing and sustaining 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 mantraMixing and matching of brand elements

Integrating brand marketing activities

Leveraging of secondary associations

Brand Value Chain

Brand auditsBrand tracking

Brand equity management system

Brand-product matrix

Brand portfolios and hierarchies

Brand expansion strategies

Brand reinforcement and revitalization

KEY CONCEPTSSTEPS

Grow and Sustain

Brand Equity

Identify and Establish

Brand Positioning and Values

Plan and Implement

Brand Marketing Programs

Measure and InterpretBrand Performance


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Thank You