Managing Brands Product vs. Brand The Product Concept Level 1 Level 2 Level 3 Product vs. Brand Product vs. Brand What is a Brand? "a name, sign or symbol used to identify items or services of the seller(s) and to differentiate them from goods of competitors. (The Dictionary of Business and Management ) A brand is a set of mental associations, held by the consumer, which add to the perceived value of a product or service. (Keller, 1998 )
Any brand is a set of perceptions and images that represent a company, product or service. A brand is a product, service, or concept that is publicly distinguished from other products, services, or concepts so that it can be easily communicated and usually marketed. "simply put, a brand is a promise. By identifying and authenticating a product or service it delivers a pledge of satisfaction and quality. (Walter Landor, one of the greats of the advertising industry ) "a set of assets (or liabilities) linked to a brand's name and symbol that adds to (or subtracts from) the value provided by a product or service". (David Aaker, In his book, 'Building Strong Brands' )
"A brand is a collection of perceptions in the mind of the consumer". A brand is a complex set of satisfactions delivered. Brands are products plus communications. Brands are conditional Assets. A brand is an attitude of non-indifference knitted into consumers hearts A brand exists when it has acquired power to influence the market. Brand HISTORY
As old as civilization itself Origin of the word Brand
Industrial revolution Campbell soup, Coca-Cola, Juicy Fruit gum, Aunt Jemima, and Quaker Oats . among the first products to be 'branded'
Branding irons Cowboys branding a calf. South Dakota, 1888
Emerging concepts (USP, Brand Image etc.) 1980s---the management revolution April 1993---mini pearl harbor & THE BRAND MANAGEMENT How does Branding Work? Brands Do Trigger Feelings Branding consists in transforming the product categories Brand Product Brand Management Perspective: Defining precisely all that the brand injects into the product/service and how the brand transforms it: What attributes materialize? What advantages are created? What benefits emerge? What obsessions does it represent? Creating brands ideals & Matching the brands products with its ideals Its not the yoghurt that I make, but danones. (Danons CEO)
A brand is a long-term vision--------management A brand is a living memory---------Consumer A long lasting and stable reference
Awareness Im aware of the brand Preference I prefer the brand Loyalty I love the brand Goals Our goals are the same The Brand Functions Function Identification
Practicality
Guarantee
Optimization
Characterization
Continuity
Hedonistic
Ethical Consumer Benefit To be clearly seen, to make sense of the offer, to quickly identify the sought-after products
To allow savings of time & energy through identical repurchasing & loyalty To be sure of finding the same quality no matter where or when you buy the product or service To be sure of buying the best product in its category, the best performer for a particular purpose
To have confirmation of your self-image or the image that you present to others Satisfaction brought about through familiarity and intimacy with the brand that you have been consuming for years Satisfaction linked to the attractiveness of the brand, to its logo, to its communication.
Satisfaction linked to the responsible behavior of the brand in its relationship with society (ecology, employment, citizenship, advertising which doesnt shock The Totality of the Brand Brand Proposition Positioning & Personality Brand Selection Delivery Functional Attributes Rational, Overt Reasoning Symbolic Values Emotional, Covert Reasoning Johari Windows into the Brands SOURCES OF ADDED VALUE IN BRANDING
Authenticity Replicability
Reassurance
Transformation of Experience
Differentiation
Added Value
Brand Vision & Purpose Brand Values Brand Tone Codes & Personality Strategic Products common traits Product A Product B Product N Typical Brand Actions F o r B r a n d M a n a g e r F o r C o n s u m e r Outside of brand territory Permanent fluctuations of the market, evolution of competition, life styles, technology
Integrated Branding Integrated branding is an organizational strategy used to drive company and product direction-----where all actions and messages are based on the value the company brings to its line of business. This value is based on both what the company does well and what customers consider important.
Integrated Branding
Brand is the intersection between the core company (or product/service) strengths and what customers value.
Brand
Company Strengths What Customers value Integrated Branding Model Organization Drivers Mission Values Story Brand Drivers Principle Personality Associations Brand Conveyors Communications (positioning) Strategy Products
Organization drivers stay consistent in product brands Company Brand
Mission Value Story Organization Drivers Organization Drivers Organization Drivers Product Brand # 1 Principle Personality Associations Brand Drivers Product Brand # 2 Principle Personality Associations Brand Drivers Why brand Identity? Identity vs. Positioning Positioning and its limitations Identity and Image
Brand Identity Other Sources of Inspirations: * mimicry * Opportunism * Idealism Signals Transmitted Brand Image Competition and Noise Sender Media Receiver Identity and Image The Six Facets of Identity The Identity Prism Picture of Sender Picture of Recipient I N T E R N A L I Z A T I O N E X T E R N A L I Z A T I O N Physique Personality Reflection Self-Image Relationship Culture Managing Brands Work Environment of a Brand Manager
Brand Manager Marketing Sales Production Quality Finance R&D Logistics Top Management Marketing Channels Suppliers Govt. Agencies Marketing Intelligence Creative Agencies Political Socio-Cultural Target Market Job Description of a Brand Manager
Responsible for Brands strategic planning for a particular period Responsible to handle budgets allocated to the brands Responsible for all the 4 Ps of brands and to integrate all the marketing activities so as not to deviate from brands long term identity Responsible for managing product portfolio of brands, i.e. developing new products and monitoring existing products movement in terms of area, units, rates, etc. Developing new product launch strategies and plans and monitoring the execution side Responsible to take care of consistency in Quality that the product(s) of a particular brand delivers, like in terms of physical products features/attributes (whether the core product remains up to the standards maintained by the quality control department?), packaging, size, quantity, shape, form, service component of the product etc. Responsible for developing a full fledge communication strategy for brands that includes deciding which media and channels to be used (Whether right message is delivered/communicated to the right audience at the right time, using the right appeal, through the right media?), then media planning and coordination with the creative agencies etc. Responsible for watching the competition; conducting the SWOT analysis (considering competitions weaknesses as the opportunities to enhance and develop our brands while seeing competitors strengths as the threats for our brands and using our brands strengths to overcome the threats coming from competition Also responsible for building/organizing, training, and motivating the team
Keeping a liaison with top management and other functional departments like factory/production team, sales people, accounts etc. plus with value chain (vendors / distributors etc.), creative agencies, legal consultants etc. in order to make sure that things are running in harmony. New Product Development vs. New Brand Development New Product Development Process Strategic Marketing Planning Opportunity Identification & Analysis Corporate Decision of NPD Technical (product) Development Marketing (plan) Development Idea Generation Idea Screening Concept development & Testing Market Strategy Development Business Analysis Product development Product Testing Commercialization Market Scanning Target Market Selection Positioning Strategy Early Marketing Mix Variables Branding & Packaging Augmentation Continues Full Marketing Plan Revised Marketing Plan From Product to Brand.! New Product given a name Advertising to present the advantages and benefits of the new product Updating & upgrading of the product by lending its name to a higher quality product The product name becomes a proper noun (and a brand symbol) A new brand comes to life Branding Strategy
Brand Vision, Values & Guiding Principles
Brand Identity
Brand Portfolio
Brand Marketing Strategy
Brand Communication Strategy
The best way for a new brand to success is to act like an old brand. (Stephen King) Characteristics of Established Brands Strong Identity Well-defined Core Activity Genuine Added Value Defined Brand personality Set of Values (authentic brand culture) Brand Repositioning Brand Name Selection Brand Sponsor Branding Strategy Brand Strategy To Brand or not to Brand Brand No Brand Selection Protection Manufacturers Brand Private Brand Licensed Brand Co-Branding Product Brand Line Brand Range Brand Umbrella Brand Source Brand Endorsing Brand New Brands Line Extensions Brand Extensions Multi-brands