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    The document defines brands and differentiates them from products. It outlines the importance of brands for both consumers and firms. Brands help simplify decisions for consumers, reduce risks, and create value for companies. The strategic brand management process involves identifying brand plans, implementing marketing programs, measuring performance, and growing equity over time. It discusses challenges in branding like savvy customers, increased competition, and transforming media.

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    The document defines brands and differentiates them from products. It outlines the importance of brands for both consumers and firms. Brands help simplify decisions for consumers, reduce risks, and create value for companies. The strategic brand management process involves identifying brand plans, implementing marketing programs, measuring performance, and growing equity over time. It discusses challenges in branding like savvy customers, increased competition, and transforming media.

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    11 views20 pages

    Chapter 1-Brands & Brand Management

    Uploaded by

    shoiraurmonova10.02
    The document defines brands and differentiates them from products. It outlines the importance of brands for both consumers and firms. Brands help simplify decisions for consumers, reduce risks, and create value for companies. The strategic brand management process involves identifying brand plans, implementing marketing programs, measuring performance, and growing equity over time. It discusses challenges in branding like savvy customers, increased competition, and transforming media.

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    © All Rights Reserved
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    of 20

    CHAPTER I

    BRANDS
    &
    BRAND MANAGEMENT

    12/14/2023
    Learning Differentiate brand
    Objectives
    Define brand
    from a product

    Identify the
    Give the
    challenges and
    importance of
    opportunities of
    brands
    brands

    Give the steps of


    strategic brand
    management
    process

    12/14/2023
    name, term, design,
    What is a symbol or any
    Brand?
    another feature that
    identifies one

    seller's good or service


    as distinct

    from those of other


    sellers

    12/14/2023
    Brand Product
    Brand versus Has dimensions that Anything available in the
    Product differentiate it in some way
    from other products
    market for use or
    consumption, that may satisfy
    designed to satisfy the same a need or want
    need

    Can be differentiated based Can be categorized into five


    on: levels namely:
    • Packaging • Core benefit level
    • Services provided • Generic product level
    • Customer advice • Expected product level
    • Financing • Augmented product level
    • Delivery arrangements • Potential product level
    • Warehousing
    • Other things valued by the
    customers

    12/14/2023
    Why Do •Consumer
    Brands •Firms
    Matter?

    12/14/2023
    Consumers All types of customers

    Functions

    • Identify the maker of the


    product
    • Simplify product decisions
    • Lower the search costs
    • Helps set reasonable
    expectations

    12/14/2023
    Consumers
    •Product characteristics and attributes
    •Search goods
    •Experience goods
    •Credence goods

    12/14/2023
    •Reduce risks in product decision
    •Functional
    •Physical
    •Financial
    •Social
    •Psychological
    •Time

    12/14/2023
    Firms

    • Brands provide valuable functions


    • Simplify product handling
    • Help organizing inventory and accounting records
    • Offer the firm legal protection
    • Provide predictability and security of demand for
    the firm
    • Creates barriers of entry for competitors
    • Provide a powerful means to secure competitive
    advantage
    12/14/2023
    Figure 1.3 - Roles of Brands

    12/14/2023
    Can Anything Be Branded?

    •Physical goods
    •Services

    12/14/2023
    Branding Challenges

    SAVVY CUSTOMERS ECONOMIC BRAND MEDIA INCREASED


    DOWNTURNS PROLIFERATION TRANSFORMATION COMPETITION

    INCREASED COST GREATER


    RESPONSIBILITY

    12/14/2023
    Figure 1.9-
    Challenges
    to Brand
    Builders

    12/14/2023
    12/14/2023
    IDENTIFYING AND DESIGNING AND
    DEVELOPING BRAND PLANS IMPLEMENTING BRAND
    Strategic MARKETING PROGRAMS

    Brand
    Management
    Process

    MEASURING AND GROWING AND


    INTERPRETING BRAND SUSTAINING BRAND EQUITY
    PERFORMANCE
    Brand
    positioning
    model

    12/14/2023
    Identifying Brand
    and resonance
    Developin model
    g Brand
    Plans
    Brand value
    chain
    • Choosing brand elements
    • Integrating the brand into
    Designing and marketing
    implementing
    activities and
    Brand
    supporting marketing
    Marketing
    Program program
    • Leveraging secondary
    associations

    12/14/2023
    Measuring and • To manage brands
    Interpreting Brand profitably, managers
    Performance must d implement a
    brand equity
    measurement system
    • Brand equity
    measurement system
    involves:
    • Brand audits
    • Brand tracking studies
    • Brand equity
    management system

    12/14/2023
    Growing and Sustaining Brand Equity

    1 2 3
    Defining Brand Managing Brand Managing Brand
    Architecture Equity over Time Equity over
    Geographic
    Boundaries, Cultures,
    and Market Segments

    12/14/2023
    Figure 1.12 -
    Strategic
    Brand
    Management
    Process

    12/14/2023
    -end of Chapter 1-

    12/14/2023

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