Day 2-Brand

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Chapter 1 Brand and Brand Management
Day 2
KEVIN LANE KELLER
II- Why Do Brands Matter? Customers Firms
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L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032
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Why do Brand Matters?

Customers
Brand Benefits
Firms
.. .. .. .. .. ..
Group-work:
What benefits does a brand have to either consumers or firms?
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CONSUMERS Brands: to consumers, brands provide important

functions -Identify the source or maker of a product -Allow consumers to assign responsibility to a particular manufacturer or distributor. -Take on special meaning to consumers -Help consumers find out which brands satisfy their needs and which ones do not. -Provide a shorthand device or means of simplification for their product decisions.
CONSUMERS Brands: To consumers, brands provide important

functions -If consumers recognize a brand and have some knowledge about it, then they do not have to engage in a lot of additional thought or processing of information to make a product decisions -From an economic perspective, brands allow consumers to lower the search costs for products both internally and externally.
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Risks in product decision

Functional risk: The product does not perform up to expectations. Physical risk: The product poses a threat to the physical well-being or health of the user or others. Financial risk: The product is not worth the price paid. Social risk: The product results in embarrassment from others. Psychological risk: The product affects the mental well-being of the user. Time risk: The failure of the product results in an opportunity cost of finding another satisfactory product.
CONSUMERS
IN SUMMARY: Brands take on unique, personal meanings to consumers that facilitate their day-to-day activities and enrich their lives. As consumers lives become more complicated, rushed, and time starved, the ability of a brand to simplify decision making and reduce risk is INVALUABLE.
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FIRMS
Brands:
provide a number of valuable functions to their firms -Fundamentally, they serve an identification purpose, to simplify product handling or tracing. -Operationally, they help to organize inventory and accounting records. -They offer the firm legal protection for unique features or aspects of the product. -They can retain intellectual property rights, giving legal title to the brand owner.
FIRMS
IN SUMMARY:
Brands represent enormously valuable pieces of legal property, capable of influencing consumer behavior, being bought and sold, and providing the security of sustained future revenues.
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Consumers
Identification of source of product Assignment of responsibility to product marker Risk reducer Search cost reducer Promise, bond, or pact with maker of product Symbolic device Signal of quality
Manufacturers
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
FIGURE 1-3
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FINDING OUT SOME FAMOUS LOGOS
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Role That Brands Play L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032
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Lets take a look at two famous logos and figure out what makes them so successful.
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McDonalds
With minimal changes to their look, feel, and identity Long ago branded themselves with their classic red and gold With unchanged golden arches since it was first created in the 1960s
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McDonalds
TIMELESS
Whether you like their food or not, youll be hard-pressed to find anyone who doesnt recognize their brand on sight, thanks to their time-honored logo.
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Starbucks
Changed with the times Despite the debate on their newest logo in the spring of 2011, regardless of what side you take, its apparent that whatever Starbucks is doing, its working. Over the last 40 years weve made some changes to identity. But the Siren has always been there. She is at the heart of Starbucks.
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Starbucks
Evolutionary
The Starbucks Siren, no matter how minimal her identity becomes, is recognizable by every coffee lover in the world.
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SECRET OF THE LOGO OF THE FAMOUS BRAND
What is the implied meaning of these logos?
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An arrow between the letters E and X in its logo
A combination of analog technology (the VA with waveform design) and digital (IO represent binary code)
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A number 31 with the implication of 31 different flavors
A cute fish
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Source: http://www.fuelyourbranding.com/famous-logos-thesecret-to-successful-branding/
http://news.dbv.vn/secret-of-the-logo-of-the-famousbrands-45885.html
Top 100 brands 2012 http://www.interbrand.com/en/best-globalbrands/2012/Best-Global-Brands-2012-Brand-View.aspx
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WHAT MAKES A STRONG BRAND?
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BRANDING SECRETS OF THE WORLDS BEST BRANDS
1. A Brand Should Have A Good Name and Logo 2. A Brand Should Be Consistent 3. A Brand Is An Ecosystem 4. A Brand Is Rooted In Community 5. A Brand Must Deliver Value
Source: http://blog.crowdspring.com/2010/01/startups-small-business-branding/
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Groupwork: Give the explanation for these 5 secrets. (Say how & why)
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1. A Brand Should Have A Good Name and Logo

A strong company (or product) name is easily recognizable and is important to good branding.
1. A Brand Should Have A Good Name and Logo A logo reflects your company.
Ex. many successful brands use real words (Adobe, Amazon, Apple, Yelp), some use misspelled words (Google), compounds (Facebook, Firefox, WordPress), phrases (LinkedIn, SecondLife) and other variations.
A good logo builds trust and a strong logo will help to pull your brand together.
The logo is one of the most important elements of a brand.

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When you start thinking about building your brand, ask yourself the following questions:
What do you hope to accomplish with your company? What do your customers and potential customers currently think of your company? What do you want your customers to think when they think of your company ? How do you differentiate yourself from your competitors?
The above questions are important not only for selecting a strong company name, but also for selecting a strong logo.
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2. A Brand Should Be Consistent

Many startups and small businesses mistakenly modify their brand message depending on their audience
For example, a company might take a more serious tone on their website but a very lighthearted tone on their Facebook fan page.
2. A Brand Should Be Consistent

Brand consistency involves the communication of messages in a way that doesnt take away from the core brand proposition.
To build and maintain a strong brand, every aspect of your brand should be as good as your product or service and you must be consistent in presenting your brand to prospects and customers.
Ex. The Apple logo has changed numerous times since Apple was founded. However, Apples brand proposition to create innovative, high quality, great looking computer products has never changed.
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3. A Brand Is An Ecosystem
A brand is more than just a companys products and services.
4. A Brand Is Rooted In Community
Many of the worlds best brands, including Google, Amazon, Facebook, Virgin, and Skype, spend modest sums on advertising and instead, focus on building and improving their communities.
A brand starts with company and employees.

Those companies understand that if consumers trust the community, they will extend trust to the brand. Especially in the age of social media this is a very important realization.
A brand extends to vendors, prospects and employees, investors, and even competitors.
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5. A Brand Must Deliver Value

Leading brands are very good and disciplined in understanding and communicating their value proposition to prospects and customers.
5. A Brand Must Deliver Value

Asking the following questions to build companys value:
Value doesnt mean lowest price.
What sets your product, service and company apart from your competitors? What value do you provide and how does that value differ from that provided by your competitors?
Ex. Product leadership (having the best products in the marketplace, like Apple), operational excellence (having the lower prices in the marketplace, like Ikea), or great customer service (Virgin, Amazon).
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Think about which of your benefits are emotional the most powerful brands tap into emotions.
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9/24/2013

Chapter 1 Brand and Brand Management

KEVIN LANE KELLER

II- Why Do Brands Matter? Customers Firms

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Why do Brand Matters?

What benefits does a brand have to either consumers or firms?

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management

CONSUMERS Brands: to consumers, brands provide important

CONSUMERS Brands: To consumers, brands provide important

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management

Risks in product decision

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management

FINDING OUT SOME FAMOUS LOGOS

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management

SECRET OF THE LOGO OF THE FAMOUS BRAND

What is the implied meaning of these logos?

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management

An arrow between the letters E and X in its logo

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management

A number 31 with the implication of 31 different flavors

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management

WHAT MAKES A STRONG BRAND?

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

L an Thanh, MBA Intl Business Administration Dept. HUFLIT ldthanh1977@yahoo.com - 0989504032

Chapter 1 Brand and Brand Management

Chapter 1 Brand and Brand Management