BRANDING WHAT IS BRAND MARKETING BRANDING Brand is
BRANDING WHAT IS BRAND MARKETING?
BRANDING • Brand- is a name, term, sign, symbol, or design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors • Early History of Brands: • The early use of Brands or Branding was done to criminals and slaves to produce a reaction of symbolism. – Has the intended purpose of branding changed in respect to merchandise?
BRIEF MODERN HISTORY • Brands seek to identify customer needs by identifying deficits. • How? What need is Nike Identifying, What need is Taconderoga identifying? • Brands seek to satisfy and produce the cure for the need. • This is backed by Charles Darwin Theory of Human Evolution – satisfy the basic needs. Examples: 1. Dove soap – What need does it Satisfy? What need does the product cure? 1. Need for hygiene but cures the instinct to get rid of germs to make us more appealing to the mass public.
WHAT NEED IS BEING SATISFIED • Osf Saint Francis Children's hospital? – Purpose? • Produce medicine for children – Consumer need? • Relief of pain and sickness
WHY BRAND? 1. Protection: - no one can use my brand name legally if it is trademark, so there is no mistaking my brand from another 2. Property: - the original and still consistent mark of a brand is to show ownership. Who owns this brand or product 3. Differentiation: - the brand should offer a feeling that is unique and which shows a benefit that customer will associate with the brand. 1. Example logo, packaging : the customer should see it hear it and associate a unique experience or felling for the product.
WHY BRAND • 4. Added Value – differentiation would make no sense if it did not add value to the company. The marketer can make a customer addicted to the brand it produces loyalty and adds value. – Brand loyalty – makes a product have perceived higher quality • 5. Brand Equity – is the bottom line the balance sheet of the company should be positive – Market share- when you are branding you are looking for market share of that product line. – Functionality – the more recognized the brand it saves consumers the cost and time research for quality. • Ex baby lotion – what is considered high quality?
BRAND DECISIONS • Companies must make a number of decisions to determine brand strategy. • The must chose presentation format: 1. Company Brand – company uses the corporate name as the focus for external communications (Coca-Cola, Heinz) 2. Individual Brand – parent company stays in the background pushing brand identities (Proctor and Gamble) 3. Mixed Format – endorsed brand: Kellogg’s:
BRANDING ODDITIES DECISION • 4. Nationalism format – When companies use nationality in building corporate or brand identity. – Sony Corporation– the name Sony was developed as a name not because of what it meant (it means nothing), but the Tokyo maker thought that name might appeal more it chose the name to brand it in the United States.
8 STEPS TO BUILDING A BRAND 1. Identify the brand position – Where does it stand in the mind of the customer? What makes it differ from other brands? (5 principles of position) 1. Fit – where does our product/brand fit within our company and the competition 2. Value- what do the customers get out this brand 3. Differentiate – must be different from competition 4. Sustainability – how long can we be strong in this target market 5. Customer Value – do customer recognize our brand with quality 2. GAP analysis - done after a SWOT analysis and is used to make sure the brand does not dilute the companies product or brand line. 3. Develop the brand property – This is the element that is unique and linked to the brand no other Coke – “the real thing” 4. Test alternative propositions – test the product in target market and document customers feedback 5. Make the branding decision – go or no go decision ex: Vanilla Coke
8 STEPS TO BRANDING • 6. Construct the implementation plan – 4 P’s for that brand not the company just the brand • 7. Implement the plan • 8. Monitor the plan – make sure steps 1 -7 are in proper order of where we want our product to go. • https: //youtu. be/o. H-5 Ow. MJa. Tw
EXPLANATION OF BRANDING • Brand Congruity - the match between a brand image and an individual's self-concept – People seek consistency by preferring products and brands that have a symbolic meaning which is consistent with their self-concept. In other words you buy a certain brand because you see yourself as similar to the people who use it. • What brand do you identify for a serious runner?
EXPLANATION OF BRANDING • Brand personality - is a set of human characteristics that are attributed to a brand name.
BRAND PERSONALITY 1. Reflects how people feel about your brand, rather than what they think the brand is or does 2. Guides the communication effort. Who are we talking to and how do they talk Things needed: 1. Need to capture attention 1. Create emotion 2. Visualize 3. Create a story 4. Create characters or use famous people 5. Create a voice 2. 3. Convert excitement into action Explain why to buy from them https: //youtu. be/w. CKYKPKj. NRY https: //youtu. be/m___wu. WRDM 4
DIFFERENCE BETWEEN BRAND PERSONALITY AND BRAND IDENTITY
THE PURPOSE OF BRANDING • The purpose is for brand personality and brand identity to work together and seen as one. • Ex. Mercedes Benz • When you see a person driving a Mercedes you see the person as Sophisticated and well to do financially • This is what successful branding aims to do, this does not mean just because you buy a Mercedes you are sophisticated or well to do • But the brand Mercedes suggest that because of the car.
BRAND MEANINGS WILL CHANGE • The brand meaning can change overtime and will usually do so but the identity will allow it to be stable throughout. • Nostalgia - a sentimental longing or wistful affection for the past, typically for a period or place with happy personal associations. • When a brand meaning starts to change Nostalgia plays a key role to keep consumers attached. • Ex: Cereal (as children we have a favorite brand type of cereal) – As adults your taste may change but you usually will buy the same brand as your younger years because of that youthful association you have of eating cereal and watching cartoons
BRAND LOYALTY CONSUMER BEHAVIOR • Brand loyalty – the tendency for a person to continue over time to exhibit similar attitudes in situations similar to those he-she has previously encountered. • “I only buy ……. ” – Brand Cult • Some will say brand loyalty does not exist, but through personality, identity, consumers will tend to buy one product over another product if all things are equal. • Generic Brands inhibit brand loyalty • You have several type of Brand cultures:
BRAND CULTURES • 1. Subcultures: The brand has a following but within the brand each item in the brand catalogue has a following • Ex: Harley Davidson – Each Harley owner identifies with Harley as they love to ride motorcycles with the Harley Symbol but within the brand each product has a culture – beginners - small Harley only drive in perfect conditions with a helmet on – Somewhat experience – medium easy rider Sunday strolls sometimes on a cool day with a Harley Jacket on. – Experienced – cross-country rider different equipment depending on riding conditions – Extremist – tattooed, vest, biker clubs, rides all times and looks the part of a Harley Rider
BRAND CULTURES • Brand Community : – Consciousness of kind, refers to a shared consciousness – Shared rituals and traditions – Sense of moral responsibility or duty to the community as a whole • Ex: Mac users • They do not see themselves as PC users they are a different level of computer consumer • Mac users have communities to assist each other with Mac issues
BRAND CULTURES: • Brand Tribes: a large group that influences what the brand does. They have all the attributes of a subculture and community but have the numbers to influence the brand. • Ex: Coca-cola When coke changed its formula • The Coca-cola loyalist or tribes were outraged and refused to buy coke with the new formula forcing the company to retract the formula and go back to the 2 nd used formula.
ASSIGNMENT • Read the Case Study and answer: 1. What are the relationships between brand communities, brand subcultures, and brand tribes? 2. Can anything be Branded? 3. How did Midland Bank management seek to establish congruity between the brand the customer?
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