branding ppt
TRANSCRIPT
BRAND & BRAND MANAGEMENT
We are exposed to 3500 brands per
day
We live in a brand saturated world
What is a Brand?
Brand
Brand
For the American Marketing Association (AMA), a brand is a
“name, term, sign, symbol, or design, or a combination of them, intended
to identify the goods and services of one seller or group of sellers and to differentiate them from those of
competition.”
Many practicing managers refer
to a brand as more than that - as
something that has actually
created a certain amount of
awareness, reputation,
prominence, and so on in the
marketplace
A brand name is nothing more than a word in the mind, a special kind of word. A brand name is a noun, a proper noun, which like all proper nouns is usually spelled with a capital letter
Any and every proper noun is a brand whether or not it’s owned by an individual,
a corporation, or a community
Brand
Brand = Reputation
What kind of brand is…
ZARA
APPLE
Brands vs Products
A product is anything we can offer to a market for attention, acquisition, use, or consumption that might satisfy a need or
want.
A product may be a physical good, a service, a retail outlet, a person, an
organization, a place, or even an idea.
Brands vs Products
Brands vs Products
Companies make products, consumers make the brand
A product is made by the company and can be purchased by a consumer in exchange of money, while brands are built through consumer perceptions, expectations, experiences with all products and services under one brand umbrella
Products can be copied and replaced, but brands are unique
A product can be copied by a competitor at any time, for example when Kindle got introduced by Amazon as an e-reader device, it didn’t take much time for competitors to come out with their own versions, However the brand associated with each e-reader device offers unique value based on perceptions, expectations, and emotions that consumers develop for those brands through previous experience with them
Brands vs Products
Products can become obsolete, but brands can be timeless
The Elvis Presley brand is timeless but nobody buys tapes and listens to his music on tapes or
cassettes any more.
Brands vs Products
Brands vs Products
Products are instantly meaningful, but brands become meaningful over time
When you launch a new product, it’s easy to make that product instantly meaningful and useful to consumers
because it serves a specific function for them. However, a brand is meaningless until consumers have a chance to
experience it, build trust with it, and believe in it. It takes time and effort to convince consumers to believe in your
brand
Some brands create competitive advantages with product performance;
other brands create competitive advantages through non-product-related
means
Brands vs Products
Selling ideas and lifestyle instead of products
Selling youth lifestyle
Idea of family
COCA COLA –
MAC Donald’s
Why do brands matter?
People connect emotionally with brands that stands for things that are important to them
Customers use brands to express themselves
Customers remain loyal to brands and they become advocates for those brands
Identity for the product and businessProtect the product/businessLeads to more sales and profitKey for growthCompetitive advantageConsumer trustMarket confidence
What functions do brands perform that
make them so valuable to marketers?
Identification to simplify handling or tracing
Legally protecting unique features
Signal of quality level
Endowing products with unique associations
Source of competitive advantage
Source of financial returns
Importance of Brands to Firms
Can everything be branded?
Ultimately a brand is something that resides in the minds of consumers
The key to branding is that consumers perceive differences among brands in a
product category
Example of branding a commodity
Diamonds – A diamond is forever – De Beers
What is branded?
Physical goods
Services
Retailers and distributors
Online products and services
People and organizations
Sports, arts, and entertainment
Geographic locations
Ideas and causes
Source of Brands Strength Vision
Business Process
Product /service control
Product/service value
Market
Marketing (product, price, place, promotion)
(Segmentation targeting and positioning)
Identity
Performance
Importance of Brand Management
The bottom line is that any brand—no matter how strong at one point in time—is
vulnerable, to poor brand management
What are the strongest
brands?
Which are the Top 15
global brands of 2013 ?
Top 15 global brands 2013
1) 8)
2) 9)
3) 10)
4) 11)
5) 12)
6) 13)
7) 14)
15)
Leading fashion brands 2013
Branding Challenges and Opportunities
Customer information
Brand Awareness-identity
Media Communication
Increased competition
Increased costs
Greater accountability
The Brand Equity Concept
Brand equity is defined in terms of the marketing effects uniquely attributable to the brand
Brand equity relates to the fact that different outcomes result in the marketing of a product or
service because of its brand name, as compared to if the same product or service did
not have that name.
Brand equityCompanies can create brand equity for their products by making them memorable, easily
recognisable, and superior in quality and reliability. Mass marketing can also create brand equity.
If consumers are willing to pay more for a generic product than for a branded one, however the brand
is said to have negative brand equity.
Brand equity
The additional money that the consumers are willing to spend to buy coca cola rather than the store brand
of soda is an example of brand equity.
One situation when brand equity is important is when the brand wants to expand its product line. If
the brands equity is positive, the company can increase the likelihood of customers will buy its new
product by associating the new product with an existing successful brand.
Ex – Kellogg’s introducing new range of soups under Kellogg's name
Strategic Brand Management
It involves the design and implementation of marketing programs and activities to build,
measure, and manage brand equity
Strategic Brand Management
The Process is defined as involving four main steps:
1) Identifying and establishing brand positioning and values
2) Planning and implementing brand marketing programs
3) Measuring and interpreting brand performance
4) Growing and sustaining brand equity
Strategic Brand Management
1) Identifying and establishing brand positioning and values
Competitors Analysis
Points-of-difference
Core brand values
Strategic Brand Management
2) Planning and implementing brand marketing programs
Mixing and matching of brand elements
Integrating brand marketing activities
Strategic Brand Management
3) Measuring and interpreting brand performance
Brand value
Brand audits
Brand equity management
Strategic Brand Management
4) Growing and sustaining brand equity
Brand portfolios
Brand expansion strategies
Conclusion
Brand is a valuable asset for business.
Brand is the result of Marketing efforts.
Brand is the reflection of business processes.
Key Job for Marketers is to develop and protect brand.