Brand Management What is a brand A brand

  • Slides: 24
Download presentation
Brand Management

Brand Management

What is a brand? A brand is a name, term, sign, symbol, design or

What is a brand? A brand is a name, term, sign, symbol, design or a combination of the above to identify the goods or service of a seller and differentiate it from the rest of the competitors

When you cannot do this The product is a commodity

When you cannot do this The product is a commodity

A brand comprises of n n Tangible attributes Intangible attributes

A brand comprises of n n Tangible attributes Intangible attributes

Tangibles Eg. n Product n Packaging n Labelling n Attributes n Functional benefits

Tangibles Eg. n Product n Packaging n Labelling n Attributes n Functional benefits

Intangibles Eg. n Quality n Emotional benefits n Values n Culture n Image

Intangibles Eg. n Quality n Emotional benefits n Values n Culture n Image

Brand Identity It is the marketer’s promise to give a set of features, benefits

Brand Identity It is the marketer’s promise to give a set of features, benefits and services consistently

Brand Building Involves all the activities that are necessary to nurture a brand into

Brand Building Involves all the activities that are necessary to nurture a brand into a healthy cash flow stream after launch

What kind of activities? Eg. n Product development n Packaging n Advertising n Promotion

What kind of activities? Eg. n Product development n Packaging n Advertising n Promotion n Sales and distribution

Brand Equity When a commodity becomes a brand, it is said to have equity

Brand Equity When a commodity becomes a brand, it is said to have equity

What is brand equity? n n The premium it can command in the market

What is brand equity? n n The premium it can command in the market Difference between the perceived value and the intrinsic value

What happens when equity increases? Commodity Brand Power Brands Presence + Personality

What happens when equity increases? Commodity Brand Power Brands Presence + Personality

What happens when brands have high equity? n n The company can have more

What happens when brands have high equity? n n The company can have more leverage with the trade The company can charge a premium on their product The company can have more brand extensions The company can have some defense against price competition

Brand Loyalty Pyramid 1 1 1 Committed buyer Likes the brand. Considers it a

Brand Loyalty Pyramid 1 1 1 Committed buyer Likes the brand. Considers it a friend Satisfied buyer. Would incur costs to switch Satisfied buyer/no reason to change Switchers/Price sensitive

How does one build brands? n n Distinguishing it from others – value proposition

How does one build brands? n n Distinguishing it from others – value proposition Brand promise must match brand delivery

The value proposition n Broad positioning Specific positioning Value positioning

The value proposition n Broad positioning Specific positioning Value positioning

Creating the brand n n n Choosing a brand name Develop rich associations and

Creating the brand n n n Choosing a brand name Develop rich associations and promises Managing customer brand contact to meet and exceed expectations

Considerations in choosing a brand name n n n What does the brand name

Considerations in choosing a brand name n n n What does the brand name mean? What associations / performance / expectations does it evoke ? What degree of preference does it create?

A brand name should indicate n n n Product benefits Product quality Names easy

A brand name should indicate n n n Product benefits Product quality Names easy to remember, recognise, pronounce n n n Product category Distinctiveness Should not indicate poor meanings in other markets or languages

Brand Associations n n ‘owned word’ Slogans Colours Symbols and logos

Brand Associations n n ‘owned word’ Slogans Colours Symbols and logos

Brand Status E S T E E M Step up advertising New Product Or

Brand Status E S T E E M Step up advertising New Product Or Product should be phased out Cash Cow. Need to Sustain brand building activities Troubled brand Product upgradation required FAMILIARITY

Brand ambassadors n Giving a face and personality to the brand that is expected

Brand ambassadors n Giving a face and personality to the brand that is expected to be rubbed off from the brand ambassador

Brand Vitality n n Differentiation in consumer’s need Differentiation relevant to consumer’s need

Brand Vitality n n Differentiation in consumer’s need Differentiation relevant to consumer’s need

Brand Pitfalls n n Brand experience must match brand image Calls for managing every

Brand Pitfalls n n Brand experience must match brand image Calls for managing every brand contact