BRAND MANAGEMENT

BRAND Name, sign, symbol, intended to identify goods & services of one seller from another Branding is decommodification of product
Brand name A rose by any other name would not smell as sweet Brand name provides an identity which differentiates Key marketing concept of positioning, imagery are centered around brand name

Brand is an accumulation of emotional and functional associations. Brand is a promise that the product will perform as per customers expectations.
Branding is the process that allows an individual or a group of individuals the ability to provide a brand image & lettering to an idea.

Benefits of brands Famous and Good Brands easily attract attention of consumers. It is an important aspect of marketing so much, so that brand management is nothing less than a CEOs responsibility in any company.

Product logic(marketing mix) to brand logic (meaning and value)

Brand Looks = Brand Symbol + Brand Name Brand Symbol = Brand character+ Brand Logo

Brand Association = Link up in memory with brands attributes, benefits and looks

Brand Image = Brand Associations + Brand Personality

Brand Relationship = Brand Image + Brand Attitude

Brand value Brand culture (accepted truth about product) can greatly enhance brand value Difference between what a consumer will pay for branded product and a physically identical product without brand Reputational value -- perceived product quality Relationship value -- trusted as a long term partner Experiential value -- Shape experience of product Symbolic value -- which expresses values & identities

Brand Equity
Brand equity refers to the effects of marketing on consumers' knowledge about a brand Brand equity is one of the factors which can increase the financial value of a brand to the brand owner, although not the only one. Measuring Brand Equity Firm Level: Can be measured through market value minus the financial assets of a firm. Product Level: Comparison of price of a no-name or private label product to an "equivalent" branded product. The difference in price, assuming all things equal, is due to the brand. Consumer Level: Measuring the awareness (recall and recognition) and brand image (the overall associations that the brand has).

Organization of Brands Brand architecture the structure and organization of brands Brand hierarchy the different organizational levels within a brand system Sub-brand an identified division (other of products) within a brand

Brand Hierarchy
Corporate Brand
HP

Range

Imaging

Systems

Product Line

Laserjet

Inkjet

PCs

Sub-brand

Laserjet IV

Branded Feature

Laserjet IV RE

Product Range Strategy Allows multiple market entry and flexibility Consumer-oriented branding not corporate branding Encourages innovation and risk taking (failure will reflect less on corporate brand) Possible to control greater shelf space with strong brands BUT expensive and requires sophisticated organization

 Household Range of Products

Umbrella Brand Strategy Builds brand equity at the corporate level Corporate brand strength is critical Reduces marketing investment in new categories Allows fast-follower strategies in innovative companies Easier for horizontal rather than vertical extension Risk of over-stretching

Endorser Brand Strategy Allows dual brand equity to develop Quality seal of approval Cheaper method of building brand equity in company name Use product brands to express different aspects of personality Requires comprehensive understanding of brand values

09 H3 09 H2 SUT 09 H2 SUV Corvette Z06 Corvette Conv Corvette Coupe

10 Yukon Denali 10 Yukon XL Denali 10 Yukon Denali HB

Brand Extension Pros Facilitate new product acceptance Increase profits Avoid cost of developing a new brand Appeal to new consumers Revitalize the brand Prevent marketing myopia

CONS Hurt parent brand image Dilute brand image (diluted investment) Confuse consumers Alienate existing consumers Retailer resistance

Brand Alliance Co-operative marketing of brands/ products that have the same utility or target segment
Event related DLF-IPL Operations related Star Alliance (airline industry) Collective brand assets McDonalds and Coke Complementary products Intel