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IBS Brandmgmt Course Slides Gurgaon

IBS Brandmgmt Course Slides Gurgaon

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Discussion Qs

• Where does Branding fit in business processes? • What is the difference between Marketing Strategy and Brand Strategy ? • Why brands? Why not create uniquely different products/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?

• Brand Marketing is not about products, services or processes. • It‟s about understanding & satisfying consumer needs, profitably.

• Products & Processes are only the means, the end is the consumer need.
“In our factories we make products, in the market we sell hope.” - Charles Revson, Founder of Revlon “I clothe egos.” - Versace

Brand is a Two-way Pact
“In return for your preference and loyalty, we will give you a shortcut to the best purchase decision. We also understand that if we screw up, the deal‟s off!”

What is the difference between Marketing Strategy 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

What makes Consumers Choose Brands ? ?? .

acquire/collect things. trend setting. doubts. up-to-date. BE… good parents. emulate idols. praise. embarrassment. SEEK… health. resist domination. win affection/love. . appreciate beauty. influential. better appearance. hospitable. money. risks. DO… SAVE… time. social. time. satisfy curiosity.Types of Needs / Benefits People want to …. security. work. leisure. prestige. efficient. advancement. status. improve themselves. pride. creative. self-confidence. money. express their individuality. comfort. discomfort. popularity. enjoyment. acceptance. worry..

Macho. • Functional benefits : physical. Size. hardworking soap. – Non-functional discriminator : Indulgent. • Discriminator : Difference between brands. perceived. Colour. Glamorous. Gentle. • Non-functional benefits : emotional/sensory. tangible. intangible. Shape. Sexy. glamorous soap. Caring. Soap with cold cream. A pen writes. A camera takes photographs. Price. – Functional discriminator : Soap with deodorant. functional or non-functional. Flavour. Macho .Brand Benefits What tool to use to measure Brand Benefits? • Motivators : The reason why people buy a product type. Soap with Olive Oil. real. Soap gets you clean.

• Consumer response to marketing. • Brand knowledge. It is a bridge between Reflection PastPresent-Direction for Future How does Branding add value ? .Power of the brand = what resides in the mind of the consumers • Differential effect.

because they represent familiar attributes • Benefit assurance. Branding influences both sides of the value equation • Search costs – Brands reduce search costs by clearly identifying the product as different from others • Psychic costs – Brands can reduce the psychic costs associated with purchase.Value through branding. – Brands offer an implicit assurance of a particular customer experience because of their meanings. .

2)Brand as a differentiating device 3)Brand as a functional device .How good are its functions? 4)Brand as a symbolic device .makes people feel as if they are part of something special or unique .Consumer‟s connect with Branding 1)Brand as a sign of ownership : who owns the product rather than the attributes of the product itself.

? 6)Brand as a shorthand device cut through all the information being processed 7)Brand as a legal device 8)Brand as a strategic device -Identify the strong characteristics and attributes. to maintain and further its success .-25)Brand as a risk reducer .

within which they buy. Brands may remain. • • Brand Task : Enter „repertoire‟ and stay in it. Stimulate „higher share‟ of repertoire purchases. over competing brands.Brand Repertoire Theory : The Shortlist Principle • People don‟t always consider only one brand in a category. . A brand ‘repertoire’. They have a shortlist of acceptable brands (3 to 4). enter or exit this shortlist over time.

com • http://faculty.Interbrand.pdf .insead.edu/chandon/personal_page/docum ents/case-note_brand%20audit-inspection%20copy.Brandchannel.com • www.Brandrepublic.com • www.Useful references • www.

Models to explain Brand as a concept 1. 4. 2. Aaker‟s model Consumer based Brand Pyramid Kapferer‟s model (Brand Identity Prism) Branding Onion Brand Molecule Model . 3. 5.

Aaker‟s Model Extended Core Brand Essence • • • • Brand as Product Brand as Organization Brand as Person Brand as Symbol Value Proposition (Emotional/Rational/Self-expressive) Credibility (Support / Proof / Story ) .

Keller‟s Consumer based Brand Equity Model .2.


3.The Kapferer Brand Identity Prism PICTURE OF SENDER Physique Personality EXTERNALISATION Relationship INTERNALISATION Culture Reflection Self-Image PICTURE OF RECIPIENT .

.How to express brand? …. Brand manifestations (Hofstede’s Culture Model) Symbols Role Models Rituals Core Value Consumer must not think that all brands in the category are the same. PERCEPTION = VALUE .

Slogan Logo and typeface Colours Music Themelines BRANDING COMPONENTS Name Stationery and business cards Offices & Outlet decor Equipment & Vehicles Dress-code etc.. Processes …. Strive to achieve harmonized EXPERIENCES! . Systems .

Brand name spectrum Company as brand name Strong company endorsement Weak company endorsement Individual brand name .

choose a brand name with meaning (Holiday Inn). then finally to Westin.Choosing a Brand name -Guidelines • What is the brand's role or purpose? – To aid in positioning. – For identification. a neologism (made-up word) such as Kodak or Exxon • Will this product be a bridgehead to a line of products? – Avoid being a limitation in the future (Western Hotels changed name to Western International.) • 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 market segment? .

• A great brand triggers emotions (Harley-Davidson). performance. • The ultimate brand builders are employees and operations.e. Amazon). • A great brand represents a promise of value (Sony).A Brand Must be More Than a Name • A brand must trigger words or associations (features and benefits). i. • A brand should depict a process (McDonald‟s. . not marketing communications.

Building the Identity .

Brand Management Process .

Strategic Brand Management Brand Vision Brand Values & Brand Positioning Brand Marketing objectives Brand Marketing strategies Brand Marketing Programs Implementing brand marketing program Measuring brand performance Growing and sustaining brand equity .


Brand Awareness Brand Image / Brand salience Awareness Brand Experiences / Brand Users Brand loyalty .What is Brand Equity ? • Brand Equity  the added values endowed to product or service.

Community.Conceptual Model of Brand Equity . and benefits both target customers and firm Customer Benefits   Depth Breadth Confidence Loyalty Wraparounds   Satisfaction Brand Associations Core Product/ Service  Strength – Relevant – Consistent Valence Uniqueness – Memorable – Distinctive Firm Benefits  Reduced marketing costs Increased margins Opportunity for brand extensions     Source: Keller (1996). . Aaker (1996). . . provides positive consumer responses . . Brand Awareness  A good brand . . Product. . Price. Strategic Market Research Group. Marketspace Analysis . . Communication and Distribution Programs . .

How is Brand Equity linked to Customer? Brand Relationship (What about you and me?) Brand response (What about you?) Brand Meaning (what are you?) Brand Identity (Who are you?) Resonance Judgment Brand Performance Feeling Brand Imagery Brand Salience Brand awareness .

How is Brand Equity Model linked to Brand 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 .

messaging) Identifying the brand elements to be highlighted Phase V: Launch Building the right plan for making the new/refreshed brand identity come alive .Brand Development Phases Phase I: Discovery Examining the brand to determine what can it sustain ? Phase II: Research/Brand Analysis Examining what the organization stands for and evaluating its current perceptions to find competitive opportunities for the brand Phase III: Definition Determining what the brand should represent Phase IV: Expression (logotype. symbol. color.

From Managing Brand to Managing Brand Interactions – Issues for Brand Manager • How to maximize customer autonomy and freedom. • How to foster customer participation and collaboration on an equal level with the company thus enrich the brand engagement • How to create strategic brand communities. portable and persistent.personal. value nets . through the brand thus deliver value the customer can use • How to make the brand a “second skin” to customers.

Assessing Brand Health Brand Report Card Brand Audit .

Managing Luxury Brands .

– personal creations. Availability in a market • Old Luxury brands • Old luxury brand extensions • Accessible super premium • Mass-tige • Supreme brands – – produced in limited series. one of a kind.Luxury Brands – Typology basis Nature of Production • Signature brands – – the most expensive brands in their category. often hand crafted • High End brands – – High quality mass production .

Private labels as brands .

• Real appeal is lower prices. retail sales and up to 40% of retail sales in European countries. • trade on the categorybuilding efforts of branded products. • established through – minimal expenditures in product R&D. – simply shoved onto store shelves. providing lower cost alternatives to name brands. – little or no advertising. – imitative packaging.store brands aka private label v/s "name" brands.S. . FACTS !! • account for about 15% of U. • about 25% cheaper • Perceived as delivering comparable product quality.

Key categories of Private labels 1. Cheap me-too: imitates the brand leaders to generate a “rub-off” effect 3. Category partner: Together. Budget alternative: is the store‟s value brand 2. manufacturers are manufacturing for these private label offers to ensure product differences are maintained. Genuine competitor: valid branded offer in its own right may have a position of strength where manufacturer brands are weak or the market is fragmented 4. the manufacturer and retailer drive total category growth Increasingly. .

and quality • Focus on the brand‟s verbal identity. • Establish an ownable style of communication. • Associate with emotional issues of product selection – – – – Universal design. products for diabetics. flavors adapted to different cultures eco-sustainability etc .Some pointers to manage Private labels • Supporting the packaging with consistent information. – choosing photography that not only helps to identify the product but also suggests. convenience information.. – Increasing consumer concerns about healthy living. nutritional facts both in and outside the purchase space. product safety. Child-safe. guidelines. evokes and enriches its content.

Heritage Brands .

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 .

a classic film or an individual successfully attaches themselves to one of these stories. And when they are in our minds and hearts. and of a common history. over time. and a history. • Heritage speaks of status. a university. what they all have in common. meaningful. and memorable story . social class. They produce a choice. and nurtured. time to make the brand a part of their lives. When a consumer product. relevant. • Brands express and share their heritage in the form of a narrative .a crisp. character. Customers need time to buy and use the brand. they take on the stature of a brand. It speaks of inheritance.Heritage Brands • What makes these brands great. The common stories of our heritage live in our minds and hearts. is that they have had the time to build a meaningful and relevant past a heritage. You cannot be chosen unless you are a choice . It speaks of a traditional way of life that is of value to present and future generations. of shared experiences. they gain entrance into our minds and hearts. • Heritage is born in.a brand story. and time to endow the brand from one generation to the next. And brands create differentiation and distinction.

• Heritage Brands: Command Pioneer advantage .• Heritage brand may or may not maintain umbrella brands • Entry into new Market Segments: heighten life span: • Overhauling yet retaining Originality and Consistency • They can appeal to more than one Age Cohort or Generation.


Goods Tangible Services Intangible Services Branding Implications •Service brands cannot be patented •Service brands cannot be inventoried •Service brands cannot be readily displayed or communicated •Pricing service brands is difficult •Service brands face difficulties delivering on promises •Service brand quality uncontrollable factors depends on many Standardised Heterogeneous Inseparability Simultaneous production Non-perishable Perishable •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 •Service brands face challenges to build and sustain image and reputation to retain customers •Fluctuating demand can cause problems for branding services .

SERVICE BRANDING MODELS Aaker’s brand identity model: Brand as Product Brand Brand as Organisation Brand as Person Brand as Symbol Brand Proposed services branding model: Brand as Product(5P’s) Brand as Process Brand as Person Brand as Symbol Brand as Organisation .

LIVING THE CORPORATE BRAND Enacted VISION Throug h CULTURE Staff Behaviour Interact s with Stakeholder Satisfaction OBJECTIVES CORPORATE BRAND CONCEPT (Character) Interact s Systems with BRANDSPHERE Monitor then Revisit To identify the gaps between actual and intended brand promise .

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