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MOD 2

Concept

• Customers trust what matters for a BRAND

• BRAND trust may vary across generations .

• Customers’ expectation of BRAND benefit could be in the short term and/or long term .

• Viewpoints about a brand are not standard /similar across its customer base .

• Price of a brand may supercede all its benefits/features/attributes/associations among certain customer base .

• Strong brands may remain strong in spite of no/negligible advertising support for quite some year .

• At the market place it Is the survival of the differentiated brand .

• A strong brand can be an entry barrier for new brands .

but even without it –ita imagery .• Differentiation of a brand may not be based on aspects within it .

Why do brands matter? • Strong brands are important to both marketers and customers • Marketers – Provide relatively higher return on sales – Have higher loyalty than their weaker competitors – Provide opportunities for brand extension – Can bounce back after a mistake – Means of identification to simplify handling or tracing .

• Means of legally protecting unique features • Signal of quality level to satisfied customers • Means of endowing products with unique associations • Source of competitive advantage • Source of financial returns .

bond or pact with maker of the product Symbolic device Signal of quality Find it easy to choose Have a perceived consistent quality about which acts as a benchmark for brand consideration/choice .• Brands are important to customer – – – – – – – – – Identification of source of product Assignment of responsibility to product maker Risk reducer Search cost reducer Promise .

a brand is something that resides in the mind of the consumer • -the key to branding is that consumers perceive differences among brand in a product category .• .

• Branding in ‘Business to Business’ category – Build corporate brand around brand intangibles – Branding should be directly tied to value delivery strategy – Educate all members of the organization as to the value of branding and their role in delivering brand value .

• Branding in services – Handling issues like intangibility and variability .

Arts and Entertainment Geographic Location Ideas and Causes .• • • • • • Retailers and distributors Online products and services People and organization Sports.

Branding Challenges and Opportunities • Savvy customers • More complex brand families and portfolios • More sophisticated and increasing competition • Difficulty in differentiating • Decreasing brand loyalty in many categories • Growth of private labels • Increasing trade power .

• • • • Emerging new communication options Increasing promotional expenditures Decreasing advertising expenditure Short term profits .

Strategic Brand Management Process • Involves the design and implementation of marketing programs and activities to build.measure and manage brand equity .

Identifying and Establishing Brand Positioning • Clear understanding of what brand is to represent and how it should be positioned with respect to competitors • Positioning convinces consumers of advantages or points of difference a brand has over its competitors or possible disadvantages or points of parity .

Identifying and Establishing Brand Positioning • Positioning also often specifies the appropriate core brand associations and brand mantra • A mental map is a visual depiction of different type of associations linked to the brand in the minds of consumer • Brand mantra –what a brand represents or core brand essence or core brand promise .

through endorsements.logos.country of origin .channel of distribution or another brand(co branding).awards review etc.symbols .sponsorship . .packaging and slogans • Integration of brand with marketing and supporting marketing programs • Leveraging secondary associations like company name .characters.Planning and Implementing Brand Marketing Programs • Initial choices of brand element making up the brand and how they are mixed or matchednames .

marketers should measure and interpret brand performance through marketing research-----brand value chain .uncover its sources of equity and suggests ways to improve and leverage that equity. • To understand the effect of marketing programs .Measuring and Interpreting Brand Performance • A Brand Audit is a comprehensive examination of a brand to asses its health .

Measuring and Interpreting Brand Performance • Brand Value Chain is a means to trace value creation process of brands .to better understand the financial impact of brand marketing expenditures and investments. • Brand equity measurement system • Brand Tracking .

Growing and Sustaining Brand Equity • Define the branding Strategy-general guidelines about which brand elements to apply across its products • Tools are –brand product matrix-is a graphical representation of all the brands and products sold by the company – Brand hierarchy-displays the number and nature of common and distinctive brand components across the firms product-potential branding relationship among the different product .

cultures and market segment .Growing and Sustaining Brand Equity • Brand Portfolio-is the set of all brands and brand lines that a particular firm offers for sale to buyers in a particular category • Managing Brand Equity over time • Managing Brand Equity over Geographic Boundaries .

Strategic Brand Management Process • Involves the design and implementation of marketing programs and activities to build measure and manage brand equity .