Professional Documents
Culture Documents
Brand Strategy
Brand Strategy
Branding
A
brand is a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service.
A brand is
Branding
Advantages
to buyers:
to sellers:
Basis for products quality Provides legal protection Helps to segment markets
The concept of Brand is usually associated to Brand Equity. Brand Equity is the sum of a brands brand distinguishing qualities and is sometimes referred to the intangible value that accrues to a company as a result of its successful efforts to establish a strong brand.
Financially, brand equity is the value of a brand as a financial asset in balance sheet, proprietary brand assets (eg. patents, trademarks, copyrights, channel relationships). From a marketing point of view, brand equity is the measure of customer loyalty to a brand (Brand Loyalty).
From the production point of view, brand equity is the description of the product image that customers (real and prospect) hold. Brand Equity = Brand Value + Brand Loyalty + Brand Image
Brand strategy
Brand
strategy is a big picture plan, a clear vision and articulation of how a brand will deliver distinctive and relevant benefits to target customers.
Brand Strategy
Strategy Options
Individual Brands
no connections
Blanket Brands
help pull new products through channel
Brand Strategy
Strategy Options
Brand Extension
Brand X, new and improved, with additives, new package size, new flavor.. (cont.)
Multibrand (proliferation)
increase shelf space and market share catch brand switchers reach new segments
Brand Strategy
Strategy Options
(cont.)
Brand Repositioning
move to a better segment
competition increased in current segment customer preference changed new segment opened up
potential and appeal Establish the competitive reason a consumer should select a brand To provide constancy in establishing relationships with customers.
Brand Positioning
value
Internally (all parts working together to reinforce perception about brand) Over time (perception reinforcement persists over duration of weeks, months, )
Simplicity Distinctiveness
Brand Sponsorship
Manufacturers brands
Also called national brands
Private brands
Also called store or distributor brands
Brand Development
Brand Development
Multibranding: Multibranding:
offers a way to establish different features and appeal to different buying motives.
New
brands: brands:
developed based on belief that the power of its existing brand is waning and a new brand name is needed. Also used for products in new product category.
Conclusion
Brand
strategy depends upon marketing strategy and business strategy and continuously has to follow their footsteps. Research, execution and implementation are key aspects in addition to a good brand strategy.
References
www.unm.edu/~werder/pages/482ppt_lectures/L www.unm.edu/~werder/pages/482ppt_lectures/L ecture%20Positioning. ecture%20Positioning.ppt mgtclass.mgt.unm.edu/Hozier/MGT%20722/Cour se%20Outlines/08%20%20Branding%20Strate se%20Outlines/08%20%20Branding%20Strate gy. gy.ppt www.houstontech.org/attachments/articles/114/0 2-Branding_DavidGreely.ppt Branding_DavidGreely.ppt http://www.scribd.com/doc/11544448/brandhttp://www.scribd.com/doc/11544448/brand-ppt