IIPM BM 1 Brand Mgt Overview 24

8/6/2019 IIPM BM 1 Brand Mgt Overview 24

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BRAND MANAGEMENTSEMESTER II


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The concept of a Brand


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A name, term, sign, symbol or design or a

combination of them, intended to identify

the goods and services of one seller or

group of sellers and to differentiate them

from those of the competition.

American Management Association

Abrand is a product that adds other dimensions

that differentiate it in some way from other

products designed to satisfy the same need


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ANYTHING CAN BE BRANDED

1. PHYSICAL GOODS

2. SERVICES

3. DISTRIBUTIONCHANNELS

4. ONLINEPRODUCTS &

SERVICES

5. ORGANIZATIONS

6. THE ARTS

7. ENTERTAINMENT

8. PEOPLE

9. CONTINENTS

10.COUNTRIES

11. CITIES / TOWNS

12. SPORTS13.IDEAS

14.CAUSES

Etc., etc., etc.,


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Ultimately, a Brand is

something that lives in

the consumers mind

Accordingly, marketers can

benefit whenever

consumers have a choice

The key to branding is:consumers perceive differences

among brands in a category


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THE PRODUCT

POTENTIAL

AUGUMENTED

EXPECTEDGENERIC

CORE

Customer Value Hierarchy


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VIDEO CASSETTE RECORDER

CORE

GENERIC

EXPECTED

AUGMENTED

POTENTIAL

Convenient entertainment

Record and playback TV with good picture

quality

Digital quartz tuner,Tape playing at different

speeds, daily/ weekly recording, auto-rewind attape end, one year warranty on specific parts

Hi-fi stereo sound, shuttle controls for scanning

Voice controlled programming, editing

commercials

SOURCE:Strategic Brand Management, Kevin Keller


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Aproduct is something made in a factory; abrand is something that is bought by a customer. A product can be copied by a

competitor; a brand is unique. Aproduct canquickly get outdated; a successful brand istimeless

Stephen KingWPP Group,UK


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CONSUMERS ADVANTAGE

1. Symbol

2. Represents quality standards

3. Reduces cost of search and risk

4. Makes somebody accountable

5. Identifies source of product

6. Confirms acceptance of a promise


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MANUFACTURERS ADVANTAGE

1. Better control during physical movement

2. Better chances ofROI

3. Builds up competitive edge

4. Quality benchmark

5. Eases developing associations

6. Possibility oflegal protection


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BRAND LEADERSHIP

1. Identify and cater to a mass market

2. Persist

3. R & D Expenditure

4. Innovation as a credo

5. Leveraging in related areas

Through the big five


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BRANDING CHALLENGES

More knowledgeable buyersselectively deaf!

demand accountability!

Too many brands in the same category: nichesegmentation hazardous

Costs : from idea generation to product maturity

Media

proliferation

lower share of voice

non-traditional forms preferred


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BRANDING CHALLENGES (Contd.)

Competition

brand extensions

de-regulation: telecom, financialservices, higher education, healthcare

globalizationpower of retailers


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Strategic Brand Management Process

1. Identify and establish the positioning and

values of the Brand2. Plan and implement marketing programs

3. Measure and interpret performance

4. Grow and sustain the equity


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1. BRAND POSITIONING &VALUES

POSITIONING: Designing the offer and Company

image so that it occupies a distinct and valued

place in the mind of the customer.

* points of parity and difference

* core brand values

* brand audit


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2. BRAND MARKETING PROGRAMS

BRAND ELEMENT:Visual or verbal informationidentifying the product

INTEGRATETHEBRAND

SECONDARY ASSOCIATION ADVANTAGE:

*Company *Country

* Distribution Channel * OtherBrands

*Endorsers *Sponsorships

* Awards / Reviews * Licensing

Etc


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3. BRAND PERFORMANCE

Brand audit

Brand value chain

Brand equity measurement system


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4. BRAND EQUITY GROWTH

Brand hierarchy

Brand product matrix

X axis of the PLC

Equity and assorted segments


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CUSTOMER BASED BRAND EQUITY PYRAMID

RESONANCE

JUDGEMENTS FEELINGS

BRAND

PERFORMANCE

BRAND

IMAGERY

BRAND SALIENCEDEEPBROAD BRAND

AWARENESS

PARITY ANDDIFFERENCE

POSITIVE ACCESSIBLEREACTIONS

INTENSE, ACTIVELOYALTY


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BRAND AWARENESS PYRAMID

TOP OFTHE MIND

RECALL

RECOGNITION

UNAWARE


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IMPACT OF AWARENESS

ADVERTISING

ATTITUDE

AWARENESS

MARKETSHARE


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BRAND LOYALTY PYRAMID

COMMITTEDBUYER

CONSIDERSBRAND A FRIEND

SATISFIED BUYER WITHSWITCHING COSTS

SATISFIED HABITUAL BUYER WITH NO REASON TO CHANGE

PRICESENSITIVE,INDIFFERENT, NO LOYALTY


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STRATEGICVALUE OF BRAND LOYALTY

REDUCED MARKETING COSTS

TRADE LEVERAGE

BRAND AWARENESS + REASSURANCE

RESPONSETIMETO COMPETITION THREATS


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MAINTAINING BRAND LOYALTY

STAYCLOSETO THECUSTOMER

MEASURESATISFACTION

CREATESWITCHING COSTS

PROVIDEEXTRAS

Documents

IIPM BM 1 Brand Mgt Overview 24