20130226 brand management chapter 2 iba 45 e

Download 20130226 brand management chapter 2 iba 45 e

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  • 1. Brand ManagementSession 2: Brand Equity and Brand ManagerZeeshan Kingshuk HuqGuest Facultyzeeshan.huq@gmail.com
  • 2. 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 2 3/13/13/ZKH
  • 3. BRAND EQUITY 3 3/13/13/ZKH
  • 4. 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? 4 3/13/13/ZKH
  • 5. Brand Equity consists of Brand Brand Perceived BrandLoyalty Awareness Quality AssociationReduced Anchor to which Reason to buy Easymarketing cost other interpretation Differentiation / associationsTrade Leverage Position Reason to buy can be attachedAttracting new Price Create positive Familiarity-likingcustomers image Channel- Signal ofTime to respond member interest Extension substanceto competitive Extensionthreats Consideration 5 3/13/13/ZKH
  • 6. How long does it take to build a brand? 6 3/13/13/ZKH
  • 7. BRAND MANAGER 7 3/13/13/ZKH
  • 8. 83/13/13/ZKH
  • 9. 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. 9 3/13/13/ZKH
  • 10. 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 10 3/13/13/ZKH
  • 11. 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 11 3/13/13/ZKH
  • 12. 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 12 3/13/13/ZKH
  • 13. QUESTIONS AND ANSWERS 13 3/13/13/ZKH