Introduction to Brand Management - II

Coming up
Little more about Brands Brand v/s Products Need/ role of Brands Strategic Brand Management an Introduction Customer-based Brand Equity

Ref: Strategic Brand Mgmt. Kevin Kelly

Brands
Brand to burn AMA definition Name, term, sign, symbol, design or a combination of them.identify. Differentiate from competition Awareness, Reputation, Prominence in market Careful selection of brand elements
Pears soap was the first registered brand as per Unilever JWT first introduced trademark advertising in 1900 through a house advert

Brand v/s products

Kotlers definition Core Benefit Generic Product Expected Product Augmented Product Potential Product Brand: Product +or- perceived differentiator
Rational & Tangible Performance based Symbolic, emotional

Brand = Product + customer perception +performance + brand name + company

Ref: Strategic Brand Mgmt. Kevin Kelly

Role of brands for Customers

Identification of source of product Assignment of responsibility to the product maker Risk reducer Search cost reduces Promise, bond, with maker of product (KF airlines) Symbolic device Signal of quality (arrow shirts)

Ref: Strategic Brand Mgmt. Kevin Kelly

Role for Manufacturer

Identification for handling Patenting Legal IPR protection etc Signal of quality level price ranges Endowing products with unique associations Competitive edge Financial returns

Ref: Strategic Brand Mgmt. Kevin Kelly

3 important questions

How can Brand Equity be created? How can Brand Equity be measured?

How can Brand Equity be used to expand Business opportunities?

Ref: Strategic Brand Mgmt. Kevin Kelly

Strategic Brand Management

Design and implementation of Mktg. programs to build, measure and manage brand equity

Identify and Establish Brand Positioning and Values

Plan and implement Brand Marketing Programs Measure and Interpret Brand Performance

Mental Maps Competitive frame of reference Points of parity and Points of difference Core brand Values Brand Mantra

Mixing and matching of brand elements Integrated brand marketing activities Leverage of secondary association

Grow and sustain Brand Equity

Ref: Strategic Brand Mgmt. Kevin Kelly

Strategic Brand Management

Identify and Establish Brand Positioning and Values

Plan and implement Brand Marketing Programs Measure and Interpret Brand Performance

Brand Value chain Brand audits Brand Tracking Brand Equity Management System

Grow and sustain Brand Equity

Brand-product mix Brand Portfolios and hierarchies Brand expansion Strategies Brand reinforcement and revitalization

Ref: Strategic Brand Mgmt. Kevin Kelly

Building Customer-Based Brand Equity

1. Brand building tools and objectives

2. Consumer knowledge effects

3. Branding Benefits

Ref: Strategic Brand Mgmt. Kevin Kelly

1. Brand building tools and objectives

Choose Brand Elements

Brand name Logo Symbol Character Packaging Slogan

Memorability Meaningfulness Likability Transferability Adaptability Protectability

Ref: Strategic Brand Mgmt. Kevin Kelly

1. Brand building tools and objectives

Developing Marketing Programs Product Price
Value Perceptions Tangible and intangible benefits

Distribution Channels
Communications

Integrate Push & Pull Mix and match options

Ref: Strategic Brand Mgmt. Kevin Kelly

1. Brand building tools and objectives

Leverage on secondary associations

Company Country of origin Channels of Dist. Other Brands Endorsor Event

Awareness
Meaningfulness

Transferability

Ref: Strategic Brand Mgmt. Kevin Kelly

Consumer Knowledge Effects

Brand Associations
Strong

Brand Awareness
Depth
Recall Recognition

Relevance Consistence

Favourable
Desirable Deliverable

Breadth
Purchase Consumption

Unique
Points of parity Points of difference

3. Possible outcomes
Greater Loyalty Less vulnerability to competitive marketing actions and crises Larger Margins More elastic response to price decreases More inelastic response to price increases Greater trade cooperation and support Increased marketing communication efficiency and effectiveness Possible Licensing opportunities More favourable brand extension evaluations

Measuring Customer-based Brand Equity

1. Brand Audit
A. Brand Inventory B. Brand Exploratory

2. Brand Value Chain

A. Brand equity sources B. Brand equity outcomes

3. Brand equity management system

A. Brand Equity Charter B. Brand Equity Report C. Brand Equity Responsibilities

Managing Customer Brand Equity

1. Define Brand hierarchy 2. Define Brand- Product mix Principle of Simplicity A. Brand extensions Principle of relevance B. Brand Portfolio Principle of differentiation Principle of prominence Principle of commonality 3. Enhance Brand Equity over time A. Brand Reinforcements 4. Establish B.E. over B. Brand revitalization
A. B. C. D. E.

market segments

A. Identify differences in consumer behavior B. Adjust Branding program