Brand Management

Session 2: Brand Equity and Brand Manager

Zeeshan Kingshuk Huq Guest Faculty zeeshan.huq@gmail.com

We read about the the relationship in last class

Brand is a promise Product is the system of delivering this promise Advertisement proposes and makes you believe this delivery of promise

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BRAND EQUITY
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But what is a good brand made of?

Brand Equity is the difference between the value offered by a product / service by the company the value perceived by the consumers
Is

Mercedes expensive?

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Brand Equity consists of

Brand Loyalty
Reduced marketing cost

Brand Awareness

Perceived Quality

Brand Association
Easy interpretation Reason to buy Create positive image Extension
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Anchor to which Reason to buy other Differentiation / associations Trade Leverage Position can be attached Attracting new Price Familiarity-liking customers ChannelSignal of Time to respond member interest substance to competitive Extension Consideration threats

How long does it take to build a brand?

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BRAND MANAGER

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What are the expertise / role of a Brand Person?

S/he is the parent of the brand, agency is the mentor that grooms the brand Skill-set needed:
Creativity A natural observer

gathers insights Networking, resourcefulness People-savvy Rational, analytical ability Capability to write succinctly Attention to details

S/he is the sole responsible person for the growth of the brand theres nothing s/he can escape from. Rest of marketing department supports her/him.
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Brand Position Statement

Brand Name Brand Consumer Benefit Brand Personality Product / Range / Description Major Competitors Target Consumers Reasons to Believe the Benefit Packaging Advertising Property
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Brand Person provides a brief

A good brief is a reflection of how well the brand person understands and owns his/her brand Brief means brief
Concise no more than 2 pages Simple and Clear for anyone, free

from jargons Positive and truthful inspiring, driving excellence

Outline Should be presented in person to the agency, including the creative team, preferably with product demo

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Brief to Agency
Why do we want new advertising? Who are we talking to? What effect should the advertising have on the consumer? What does s/he think now? What would we like her to think/do? The story what is the single most persuasive benefit we can offer? Why should the believe it? What are the executional considerations? What are the practical considerations, e.g. timing, advertising properties, competitive reaction, regulatory aspects, etc Authority Budget strength
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QUESTIONS AND ANSWERS

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