2-1 2 Chapter Two Corporate Image and Brand Management.

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  • Slide 1
  • 2-1 2 Chapter Two Corporate Image and Brand Management
  • Slide 2
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-2 Components of a Corporate Image Products Personnel Retail outlets Servicing Advertisements Publicity
  • Slide 3
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-3 Tangible ElementsIntangible Elements 1. Goods and services sold. 2. Retail outlets where product is sold. 3. Factories where product is produced. 4. Advertising, promotions, and other forms of communications. 5. Corporate name and logo 6. Packages and labels 7. Employees 1. Corporate, personnel, and environmental policies. 2. Ideas and beliefs of corporate personnel. 3. Culture of country and location of the company. 4. Media reports. F I G U R E 2. 1 Components of a Corporate Image
  • Slide 4
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-4 Role of Corporate Image Consumer Perspective Positive assurance Unfamiliar settings Little or no previous experience Reduces search time Provides psychological reinforcement Social acceptance
  • Slide 5
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-5 Role of Corporate Image Company Perspective Ability to charge more Consumer loyalty More frequent purchases by customers Positive word-of-mouth Attracts higher quality employees More favorable ratings
  • Slide 6
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-6 Top 10 Global Corporate Brands Coca-Cola$ 65.3 Microsoft$ 58.7 IBM$ 57.1 General Electric$ 51.5 Nokia$ 33.7 Toyota$ 32.1 Intel$ 30.9 McDonalds$ 29.4 Disney$ 29.2 Mercedes Benz$ 23.6 Brand Value ($billion) Source: Based on The 100 Top Brands, Business Week (August 6, 2007), pp. 59-64.
  • Slide 7
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-7 Promoting the Right Image Creating the right image. Conveys a clear message about the organization. Should portray the nature of the firm. Fit with products being sold. Rejuvenating an image. Easier than changing a well-established image. Add new elements but continue current image. Changing an image. Extremely difficult. Necessary when Target market has shrunk or disappeared. Current image not consistent with industry trends.
  • Slide 8
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-8 Should be easily recognizable. Should be familiar. Should elicit a consensual meaning among firms target market. Mutual contract Should evoke positive feelings. F I G U R E 2.4 Tests of Quality Logos and Corporate Names
  • Slide 9
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-9 Benefits of Logo Recognizability Aids in recall of specific brands. Aids in recall of advertisements. Reduces shopping effort. Reduces search time and evaluation of alternatives.
  • Slide 10
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-10 Black seriousness, distinctiveness, power, sophistication, and tradition. Blue authority, dignity, security, faithfulness, heritage, corporate stability, and trust. Brown/gold history, utility, earthiness, richness, tradition, and conservative. Gray/silver authority, practicality, corporate mentality, and trust. Green health, freshness, stability, and appetite. Orange fun, cheerfulness, health, and youth. What colors should you use in your logo? Source: Jared McCarthy, Logos: What Makes Them Work (Part 1of 2), (www.marketingprofs.com/5/mccarthy4.asp), February 22, 2005.www.marketingprofs.com/5/mccarthy4.asp
  • Slide 11
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-11 Pink femininity, innocence, softness, health, and youth. Purple sophistication, spirituality, wealth, royalty, youth, and mystery. Red aggressiveness, passion, strength, vitality, fear, speed, and appetite. White/silver purity, truthfulness, faith, contemporary, refined, and wealth. Yellow youth, positive feelings, sunshine, cowardice, refinement, caution, and appetite. What colors should you use in your logo? Source: Jared McCarthy, Logos: What Makes Them Work (Part 1of 2), (www.marketingprofs.com/5/mccarthy4.asp), February 22, 2005.www.marketingprofs.com/5/mccarthy4.asp
  • Slide 12
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-12 Logo Recognizability McDonalds Golden Arches logo is recognizable enough to stand on its own.
  • Slide 13
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-13 Companies often create product icons to develop an identity for their products. Why are these icons effective representatives for these companies?
  • Slide 14
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-14 Branding Provides quality assurance. Reduces search time. Allows a company to charge more. Reduces brand parity. Consumers choose a brand because it is: Salient Memorable Noteworthy
  • Slide 15
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-15 Branding If you didnt find the brand you wanted, would you be likely to buy another brand? Greeting cards68% Groceries and canned food67% Womens apparel50% Mens apparel55% Toys47% Candy47% Beverages49% Consumer electronics40% Computer software35% Source: Debbie Howell, Todays Consumers More Open To Try New Brands, DSN Retailing Today, vol. 43, No. 20 (October 25, 2004), pp. 29-31.
  • Slide 16
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-16 Developing a Strong Brand Name What are the most compelling benefits? What emotions are elicited by the brand either during or after the purchase? What one word best describes the brand? What is important to consumers in the purchase of the product? Begins with understanding why consumers buy a brand.
  • Slide 17
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-17 Higher prices Higher gross margins Channel power Additional retail shelf space Reduces customer switching behavior Prevents erosion of market share F I G U R E 2.6 Benefits of Brand Equity
  • Slide 18
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-18 Brand Equity Mercedes Benz has developed a high level of brand equity.
  • Slide 19
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-19 1.Research and analyze what it would take to make the brand distinctive. 2.Engage in continuous innovation. 3.Move fast. 4.Integrate new and old media. 5.Focus on domination. F I G U R E 2.7 Steps in Building Brand Equity
  • Slide 20
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-20 Source: Adapted from Fred Crawford, Branding Isnt Like High School, Retail Merchandiser, Vol. 47, No. 6 (July/August 2007), pp. S4-S9. Brand Trust Rate Distrust RateBPI Sony9.2%1.8%75.1 Johnson & Johnson5.7%0.5%55.3 Kraft5.2$0.6%48.7 Procter& Gamble5.8%1.1%48.2 Campbells3.5%0.4%32.9 Toyota4.1%1.2%28.0 Tylenol3.2%0.6%27.2 Dell5.1%2.1%27.0 General Mills2.7%0.2%25.9 Hewlett-Packard4.0%1.5%23.5 BPI = awareness, trust, and distrust. F I G U R E 2.8 Top 10 Most Powerful Brands (AlixPartners)
  • Slide 21
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-21 Source: Adapted from Debbie Howell, Top Brands, DSN Retailing Today, Vol. 44, No. 20 (October 24, 2005), pp. 38-42. 1.Hanes (39%) 2.Levis (10%) 3.Victorias Secret (6%) 4.Liz Claiborne (4%) 5.Nike (4%) 6.Fruit-of-the-Loom (4%) 1.Coke (26%) 2.Pepsi (22%) 3.Dr. Pepper (6%) 4.Mountain Dew (5%) 1.Frito Lay/Lays (19%) 2.Doritos (10%) 3.Hersheys (6%) 4.Pringles (6%) 5.Oreos (5%) 1.Sony (27%) 2.RCA (6%) 3.Panasonic (6%) 4.Dell (5%) 5.Duracell (4%) Consumer Electronics Snacks Beverages Womens Apparel F I G U R E 2.9 Most Preferred Brands (DSN Retailing)
  • Slide 22
  • Copyright 2010 Pearson Education, Inc. publishing as Prentice Hall 2-22 Packaging Traditional elements Protect the product inside Provide for ease of shipping, moving, and handling Provide for easy placement on store shelves Prevent or reduce the possibility of theft Prevent tampering New trends Meet consumer needs for speed, convenience, and portability Must be contemporary and striking Must be designed for ease of use

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