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What is a brand?
A name, a term
A symbol, a sign
“A name, term, sign, symbol or any other feature that identifies one seller’s product or service as distinct from those of other sellers” -The American Marketing Association
FIRM INTERACTIONS CUSTOMERS
Brand image Brand identity in the mind of customers framed by marketers Brand relationships Branding process Brand the actual image of the firm in customers’ minds A new definition based on Brand relationships: Brand is created in continuously developing brand relationships where the customer forms a differentiating image of a product or service based on all kinds of brand contacts that the customer is exposed to.
A unique set of associations in the minds of customers concerning what a brand stands for and the implied promises the brand makes.
sum of all tangible & intangible traits. ► It represents all internal & external characteristics. ► It's anything & everything that influences how brand or a company is perceived by its target constituencies. ► It is the best, single marketable investment a company can make.
► Personality ► Hard
and Soft attributes representations
white sari with a blue border
shaped spectacles and a stick
Company image vs. Brand image
Brand image = the image of a good or service which is formed in the customer’s mind Company image = the valued customers, potential customers, lost customers and other groups of people connect with the organization
Ex: The two concepts company: TheFrench national railwayare slightly Brand image: one can travel easily and safely differentin France by train Company image: very paternalistic and “old fashioned” company
Two main different levels of company image
Corporate – THE image people have of an organization (more for big companies) Local – obviously linked to the Corporate image but can develop its own fame and image The 2 levels are interrelated and influence each other.
The importance of image
Image communicates expectations Image is a filter influencing perceptions of the performance of the firm Image is a function expectations and experiences of
Image has an internal impact on employees
Brand Image Vs Sales
Sales Low Hi Brand Image Low Unrealized Potential Dying Brand Hi Healthy Brand
Type of brand association : Benefit Fun, unpretentious, informal, classless, social Appropriateness of brand association Promotional advertising Theme advertising Strength of brand association Importance for consumers Consistency Uniqueness of brand association
Image and Identity
Sending Brand identity Signals transmitted Other sources of Inspiration •Mimicry •Opportunity •idealism Brand image Media Receiving
Competition And Noise
IMAGE is a unique set of associations in the minds of customers concerning what a brand stands for and the implied promises the brand makes. ► BRAND IDENTITY is the strategic goal for the unique set of associations that a brand should stand for. These associations also imply a potential promise to customers. ► PERCEPTION GAP.
Brand Equity & Image Assessment
Developing image in the good way
What is important for customers is what they experience Bad experiences always result in bad image Hence, if a company has a poor image, it has to take the correct measures to improve it based on reality: Company unknown or not well known Action: communication campaign Company known but performing badly Action: internal action in order to improve performance. Communication can be used but at a second level.
The Top 25 Global Brands
1 2 3 4 5 6 7 8 9 10
Coca-Cola Sony Mercedes-Benz Kodak Disney Nestle Toyota McDonalds IBM Pepsi Cola
Share of Mind
1 4 12 5 8 7 6 2 20 3
6 1 2 9 5 14 23 85 4 92
11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
Rolls Royce Honda Panasonic Levi’s Kleenex Ford Volkswagen Kellogg’s Porsche Polaroid BMW Colgate Seiko Nescafe Canon
Share of Mind
23 9 17 16 13 10 11 14 27 15 32 21 33 19 35
3 22 10 8 14 24 26 30 11 44 12 51 15 64 17