Professional Documents
Culture Documents
Dr.Soumya Padhi
What is a Brand?
Old Norse word brandr to burn. AMA Name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of the competition. Branding basis people, place, animal or bird, scientific term, and things or objects. Branding contain inherent product meaning, and attributes or benefits. Branding could be done for product (physical good, retail store, person, organization, place, or an idea. Brand = product + other differentiating dimensions (physiological and psychological)
Brand Definition
the reason consumers flock to some brands and ignore others is that behind the brand stands an unspoken promise of value. That is why brands are becoming even more important drivers of growth. That is also why Unilever wants Knorr, Skippy, Hellmanns, SlimFast and Ben & Jerry on its plate. Mukul Pandya, WSJ.
Brand is an experience
A brand is essentially a container for a costumers complete experience with the offer and the company. (Sergio Zyman)
What is a Brand
User
Culture Personality
Attributes Benefits
Values
Corporation Economy
Competition
Skills Origin
Personality
Symbols User Imagery
(Core) Offer
(Tangible Products & Services)
Self-expressive benefits
AS ...
* SUPPORT OF LONG-TERM TIES WITH PEOPLE * ALLOWS LOWER COST for NEW ENTRIES * UNIQUE SPOKESMAN TO ALL PUBLICS
Product Levels?
Core benefits fundamental need or want. Generic product basic offering. Expected product normal expectation from a product in the market. Augmented product differentiating and distinguishing attributes, benefits, or related service. Potential product ideal and in future.
Branding - benefits?
Consumers Identification of source Assignment of responsibility Risk reducer functional, physical, financial, social, psychological, and time Search cost reducer Promise, bond, or pact Symbolic, cultural Signal of quality Manufacturers Means of identification for handling or tracing Legal protection Signal of quality to consumers
Endowing product with unique association Competitive advantage Source of financial return
Determinants of Brand Longevity Vision of the mass market? Managerial persistence? Financial commitment?
Relentless Innovation?
Asset leveraging.
Some Challenges Savvy consumers, maturing market, decreasing brand loyalty. Brand proliferation, complex brand families, . Media fragmentation, eroding traditional media, new options, changes in advertising and promotional expenditures.
Next?
Brand Equity
Sources of Brand Knowledge
Associative node model of memory Brand awareness Brand image
Strength of brand associations Favorability of brand associations Uniqueness of brand associations
Corporate Awareness
Brand Associations
Stolichnaya
Experienced Self-assured Successful Male Lexus Not-trendy
Absolut
Young Contemporary Flashy Male Bars Advertising or arts
Brand Equity
But how does one develop brand equity? The goal of this course is to learn how to manage brands (via marketing programs) in order to create brand equity - that is, create an enduring advantage for your brands.
Strategic Brand Management Process:
1. Identifying and Establishing brand position and values. 2. Planning and Implementing brand marketing programs.
Possible Outcome
Brand Awareness (2)
Depth Recall Recognition Purchase Consumption
Greater loyalty Less vulnerability to competitive marketing actions and crises Larger margins More elastic response to price increases
Breadth
Developing Marketing Programs (5 & 6) Product Price Distribution channels Communications Functional & symbolic benefits Value perceptions Integrate Push & Pull Mix and match options
More inelastic response to price increases Increased marketing communication efficiency and effectiveness Possible licensing opportunities More favorable brand extension evaluations
Favorable
Desirable Deliverable
Point of parity Point of difference
Unique
Building Equity
1. Determine brand knowledge structures
a. Breadth of awareness (brand salience) b. Positioning (points of parity/difference) c. Image (strong & favorable brand associations)
2. Develop marketing programs 3. Integrate across product lines and geographies 4. Measure and control
a. Feelings/judgments/loyalty
The functional and emotional benefits that our product/services provides to the consumer (EXPRESSIVE)
Benefits
Brand Management
Brand management is the act of designing and implementing marketing programs to build and maintain brand equity.
Product Price Distribution Communications
Minuses
- Conflict and frustration (responsibility and no
authority), administrative work with executive expectations, learns products not functions, short horizon, costs of associates and assistants
Typical day
75% fighting fires, 25% planning
Marketing planning - key is volume forecasting since unsold inventory is perishable Mix - 1/3 on pricing issues (list & trade), 20% on consumer promotions, president handles ads, 15% on distribution, little on sales and service
Media
Packaging Salesforce
Product Manager
Project
Staring Point: Brand perception about: Brand features and attributes - awareness? Brand benefits needs & expectations? Brand values - associations?
PRODUCT LEVEL
LEVEL
BRAND Name/Positioning Potential Product Augmented Product Expected Product Generic Product Core Benefit
Paswan
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