IBS Brandmgmt Course Slides Gurgaon

8/2/2019 IBS Brandmgmt Course Slides Gurgaon

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Discussion Qs

Where does Branding fit in business processes?

What is the difference between MarketingStrategy and Brand Strategy ?

Why brands? Why not create uniquely differentproducts/services?

What makes Consumers Choose Brands ?

How is Brand Equity linked to Customer ?

What is Customer Based Brand Equity

How to express or manifest the Brand?

How to Select a Brand Name & Brand Logo?


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Brand Marketing is not about products, services or processes.

Its about understanding & satisfying consumer needs, profitably.

Products & Processes are only the means, the end is theconsumer need.

In our factories we make products, in the market we sell hope.

- Charles Revson, Founder of Revlon

I clothe egos. - Versace


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Brand is a Two-way Pact

In return for your preference and loyalty, we will giveyou a shortcut to the best purchase decision.

We also understand that if we screw up,

the deals off!


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What is the difference between MarketingStrategy and Brand Strategy ?

I. Corporate Objectives & Brand Portfolio

II. Marketing Objectives

III. Brand Strategy

Communications Strategy

Product and Pricing Strategy

Channel and Distribution Strategy

IV. Marketing Execution & Monitoring


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What makes ConsumersChoose Brands ???


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Types of Needs / Benefits

SEEK health, time, money, popularity, better appearance,security, praise, comfort, leisure, pride, advancement,acceptance, enjoyment, self-confidence, prestige,status.

BE good parents, social, hospitable, up-to-date, creative,influential, efficient, trend setting,

SAVE time, money, work, discomfort, worry, doubts, risks,embarrassment.

DO express their individuality, resist domination, satisfy curiosity,

emulate idols, appreciate beauty, acquire/collect things, winaffection/love, improve themselves.

People want to ..


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Brand Benefits

Motivators : The reason why people buy a product type.Soap gets you clean. A pen writes. A camera takes photographs.

Discriminator : Difference between brands, functional ornon-functional.

Functional discriminator :Soap with deodorant. Soap with cold cream. Soap with Olive Oil.

Non-functional discriminator :Indulgent, glamorous soap. Macho, hardworking soap.

Functional benefits : physical, tangible, real.Colour, Flavour, Shape, Size, Price.

Non-functional benefits : emotional/sensory, intangible,perceived. Gentle, Caring, Sexy, Glamorous, Macho

What tool to use to measure Brand Benefits?


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Power of the brand = what residesin the mind of the consumers

Differential effect.

Brand knowledge.

Consumer response to marketing.

It is a bridge between Reflection Past-

Present-Direction for Future

How does Branding add value ?


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Value through branding.

Search costs

Brands reduce search costs by clearly identifying theproduct as different from others

Psychic costs

Brands can reduce the psychic costs associated withpurchase, because they represent familiar attributes

Benefit assurance. Brands offer an implicit assurance of a particular

customer experience because of their meanings.

Branding influences both sides of the value equation


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Consumers connect with Branding

1)Brand as a sign of ownership : who owns theproduct rather than the attributes of the product itself.

2)Brand as a differentiating device

3)Brand as a functional device - How good are itsfunctions?

4)Brand as a symbolic device - makes

people feel as if they are part of somethingspecial or unique


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5)Brand as a risk reducer - ?

6)Brand as a shorthand device cut through allthe information being processed

7)Brand as a legal device

8)Brand as a strategic device -Identify thestrong characteristics and attributes; to maintain

and further its success


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Brand Repertoire Theory : The Shortlist Principle

People dont always consider only one brand in a

category. They have a shortlist of acceptable brands(3 to 4),within which they buy. A brand repertoire.

Brands may remain, enter or exit this shortlist overtime.

Brand Task :

- Enter repertoire and stay in it.- Stimulate higher share of repertoire purchases,

over competing brands.


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www.Interbrand.com

www.Brandchannel.com

www.Brandrepublic.com http://faculty.insead.edu/chandon/personal_page/documents/case-note_brand%20audit-inspection%20copy.pdf

Useful references
http://www.interbrand.com/http://www.brandchannel.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandrepublic.com/http://www.brandchannel.com/http://www.interbrand.com/


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Models to explain Brand as a

concept1. Aakers model

2. Consumer based Brand Pyramid

3. Kapferers model (Brand Identity Prism)4. Branding Onion

5. Brand Molecule Model


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Aakers Model

Brand as Product Brand as Organization

Brand as Person Brand as Symbol

Value Proposition (Emotional/Rational/Self-expressive)

Credibility (Support / Proof / Story )

Extended

Core

Brand

Essence


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2. Kellers Consumer based Brand EquityModel


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Sub-Dimensions of CBBE Pyramid

LOYALTY

ATTACHMENT

COMMUNITY

ENGAGEMENT

QUALITYCREDIBILITY

CONSIDERATION

SUPERIORITY

WARMTH

FUN

EXCITEMENT

SECURITY

SOCIAL APPROVAL

SELF-RESPECT

CATEGORY IDENTIFICATION

NEEDS SATISFIED

PRIMARY CHARACTERISTICS &

SECONDARY FEATURES

PRODUCT RELIABILITY,

DURABILITY & SERVICEABILITY

SERVICE EFFECTIVENESS,

EFFICIENCY, & EMPATHY

STYLE AND DESIGN

PRICE

USER PROFILES

PURCHASE & USAGE

SITUATIONSPERSONALITY &

VALUES

HISTORY, HERITAGE,

& EXPERIENCES


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Physique Personality

Self-ImageReflection

CultureRelationship

PICTURE OF RECIPIENT

PICTURE OF SENDER

3.The Kapferer Brand IdentityPrism

INTERNALISATIONEXTERNALISATION


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(Hofstedes Culture Model)

Core Value

Rituals

Role Models

Symbols

How to express brand?.. Brand manifestations

Consumer must not think that all brands in the category are the same.

PERCEPTION = VALUE


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BRANDING COMPONENTS

NameSloganLogo and typefaceColoursMusicThemelinesStationery and business cardsOffices & Outlet decorEquipment & VehiclesDress-code etc..Systems , Processes .

Strive to achieve harmonized EXPERIENCES!


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Brand name spectrum

Companyas brandname

Strong companyendorsement

Weak companyendorsement

Individualbrand name


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Choosing a Brand name -Guidelines

What is the brand's role or purpose? To aid in positioning, choose a brand name with meaning

(Holiday Inn).

For identification, a neologism(made-up word) such as Kodak orExxon

Will this product be a bridgehead to a line ofproducts? Avoid being a limitation in the future (Western Hotels changed

name to Western International, then finally to Westin.)

Do you expect a long-term position in the market? If yes choose something unique and memorable

Is the name irritating or insulting to any marketsegment?


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A Brand Must be More Than aName

A brand must trigger words or associations (features andbenefits).

A brand should depict a process (McDonalds, Amazon).

A great brand triggers emotions (Harley-Davidson).

A great brand represents a promise of value (Sony).

The ultimate brand builders are employees andoperations, i.e. performance, not marketingcommunications.


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Building the Identity


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Brand Management Process


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Strategic Brand Management

Brand Vision

Brand Values

& Brand PositioningBrand Marketing objectivesBrand Marketing strategies

Brand Marketing Programs

Implementing brand marketing program

Measuring brand performance

Growing and sustaining brand equity


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What is Brand Equity ?

Brand Equity the added values endowed toproduct or service.

Awareness

Brand Awareness

Brand Image / Brand salience

Brand Experiences /Brand Users

Brand loyalty


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Product, Price, Community, Communicationand Distribution Programs

Wraparounds

Conceptual Model of Brand Equity

Core Product/Service

Source: Keller (1996), Aaker (1996), Strategic Market Research Group, Marketspace Analysis

. . . provides positive

consumer responses . . .A good brand . . .

Customer Benefits

Confidence

Loyalty Satisfaction

Firm Benefits

Reducedmarketing costs

Increasedmargins

Opportunity forbrand extensions

. . . and benefits both

target customers and firm

Brand Awareness

Depth

Breadth

Brand Associations

Strength

Relevant

Consistent

Valence

Uniqueness

Memorable

Distinctive


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How is Brand Equity linked to Customer?

Brand SalienceBrand awareness

FeelingJudgment

Brand ImageryBrand

Performance

Resonance

Brand Relationship(What about you and me?)

Brand response(What about you?)

Brand Meaning(what are you?)

Brand Identity(Who are you?)


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How is Brand Equity Model linked toBrand Management Model?

Brand Relationship(What about you and me?)

Brand response(What about you?)

Brand Meaning(what are you?)

Brand Identity(Who are you?)

Equity & Valuation

Implementation of Strategy

Strategy for Brand

Identity & Audit


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Brand DevelopmentPhases

Phase I: DiscoveryExamining the brand to determine what can it sustain ?

Phase II: Research/Brand AnalysisExamining what the organization stands for and evaluating its current perceptionsto find competitive opportunities for the brand

Phase III: DefinitionDetermining what the brand should represent

Phase IV: Expression (logotype, symbol, color, messaging)

Identifying the brand elements to be highlighted

Phase V: LaunchBuilding the right plan for making the new/refreshed brand identity come alive


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From Managing Brand to Managing BrandInteractions Issues for Brand Manager

How to maximize customerautonomy and freedom,through the brand thus delivervalue the customer can use

How to make the brand a

second skin to customers,-personal, portable andpersistent.

How to foster customerparticipation and collaborationon an equal level with the

company thus enrich the brandengagement

How to create strategic brandcommunities, value nets


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Assessing Brand Health

Brand Report Card

Brand Audit


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Managing Luxury Brands


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Luxury Brands Typology basis-

Nature of Production

Signature brands

the most expensive brandsin their category.

personal creations, one ofa kind,

Supreme brands

produced in limited series,

often hand crafted High End brands

High quality massproduction

Availability in a market

Old Luxury brands

Old luxury brandextensions

Accessible superpremium

Mass-tige


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Private labels as brands


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store brands aka private labelv/s "name" brands.

trade on the category-building efforts of brandedproducts, providing lowercost alternatives to name

brands. established through minimal expenditures in

product R&D,

imitative packaging,

little or no advertising. simply shoved onto store

shelves,

Real appeal is lowerprices.

FACTS !! account for about 15% of U.S. retailsales and up to 40% of retail sales inEuropean countries. about 25% cheaper Perceived as delivering comparableproduct quality.


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Key categories of Private labels

1.Budget alternative: is the stores value brand2.Cheap me-too: imitates the brand leaders to

generate a rub-off effect3.Genuine competitor: valid branded offer in its

own rightmay have a position of strength where manufacturer

brands are weak or the market is fragmented

4.Category partner: Together, the manufacturer

and retailer drive total category growth

Increasingly, manufacturers are manufacturing for these private labeloffers to ensure product differences are maintained.


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Some pointers to manage Privatelabels

Supporting the packaging with consistent information,guidelines, convenience information, nutritional factsboth in and outside the purchase space,

Establish an ownable style of communication. Increasing consumer concerns about healthy living, product

safety, and quality Focus on the brands verbal identity.

choosing photography that not only helps to identify the productbut also suggests, evokes and enriches its content..

Associate with emotional issues of product selection

Universal design, Child-safe, products for diabetics, flavors adapted to different cultures

eco-sustainability etc


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Heritage Brands


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Different types of brands

Product Brands Service Brands E-brands Media Brands

Not-for-profit Brands Nation Brands Government Brands

Global Brands

Organization Brands

Heritage Brands

Luxury Brands Private Labels

Top-of-Mind Brands


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Heritage Brands What makes these brands great, what they all have in common, is

that they have had the time to build a meaningful and relevant past -a heritage.

Heritage is born in, and nurtured, over time. Customers need time tobuy and use the brand, time to make the brand a part of their lives,and time to endow the brand from one generation to the next.

Heritage speaks of status, character, social class, and a history. It

speaks of a traditional way of life that is of value to present andfuture generations. It speaks of inheritance, of shared experiences,and of a common history.

Brands express and share their heritage in the form of a narrative - acrisp, meaningful, relevant, and memorable story - a brand story.

The common stories of our heritage live in our minds and hearts.When a consumer product, a university, a classic film or an individual successfullyattaches themselves to one of these stories, they gain entrance into our minds andhearts.And when they are in our minds and hearts, they take on the stature of a brand.And brands create differentiation and distinction. They produce a choice.

You cannot be chosen unless you are a choice


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Heritage brand may or may not maintainumbrella brands

Entry into new Market Segments: heightenlife span:

Overhauling yet retaining Originality andConsistency

They can appeal to more than one Age

Cohort or Generation. Heritage Brands: Command Pioneer

advantage


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SERVICES BRANDING &

CORPORATE BRANDING

Goods Services Services Branding Implications


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Goods Services Services Branding Implications

Tangible Intangible Service brands cannot be patented

Service brands cannot be inventoried

Service brands cannot be readily displayed or

communicated

Pricing service brands is difficult

Standardised Heterogeneous Service brands face difficulties delivering on promises

Service brand quality depends on many

uncontrollable factors

Inseparability Simultaneous

production

Customers participate in the service brand

transaction

Employees may affect the service brand outcome

Customers may affect one another in the service

brand transaction

Satisfaction of service brand is influenced by expected

and perceived behaviour of service provider and

customer

Mass production of service brands is difficult

Non-perishable Perishable Service brands face challenges to build and sustain

image and reputation to retain customers

Fluctuating demand can cause problems for branding

services

SERVICE BRANDING


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SERVICE BRANDINGMODELS

Aakers brand identity model:

Brand as

Product

Brand as

Organisation

Brand asPerson

Brand as

Symbol

Brand

Proposed services branding model:

Brand asProduct(5Ps)

Brand as

Process

Brand asPerson

Brand as

Symbol

Brand as

Organisation

Brand


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LIVING THE CORPORATE BRAND

Interact

VISION

CULTURE

OBJECTIVES

BRANDSPHERE

CORPORATE

BRAND

CONCEPT(Character)

Staff Behaviour

Stakeholder

Satisfaction

S stems

Enacted

Interact

Monitor then Revisit

To identify the gaps between actual and

Documents

IBS Brandmgmt Course Slides Gurgaon