Download - BRANDING Ch1 - What is Brand
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BRANDING
Ch1: What is brand?
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BRAND? (traditional definition)
brandis a name, term, sign, symbol or design or
combination of them to identifythe goods and
services from one seller and to differentiate themfrom their competitors
American Marketing Association (AMA)
Focus: tangible
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In industryBrand is something that has created
certain amount of awareness, reputation,
prominence etc in the marketplace.
Set of associations or known descriptions stored in
peoples mindFocus: intangible
BRAND? (new definition)
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Creating a brand
Choose anamestrategy
Create brandelements todifferentiate
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creating a brand: name
Can be different from company name strategies
1. Name: Estee Lauder, Porche
2. Under P&G: Pampers, Pantene
3. Places: Santa Fe cologne, British Airways4. Animals: Mustang, Dove, Tiger Airways
5. Others: Apple, Shell, Carnation
6. Inherent product meaning: Lean Cuisine ,100%Juice Blend
7. Important attributes: DieHard auto batteries, MrMuscle detergent
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Brand v. Product
Physical goods cereal, car,
Airlines, bank, etc
Satisfy customers needs/want
& solve solutions
More than a product
it has dimension tht diff
from other brands which
satisfy same need/solvesame problem
Rationale/tangible
Emotional/intangible
Performance some brand create
Competitive advantage with
Performance. e.g: Gillette leader
Strong brands sometimesHas created association
Outside marketers control
e.g: Coke taste heritage,
American icon
What brand represents
Understand consumers
Motivation & desires
Create appealing image
e.g: Coke, Channel no5
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TANGIBLE ATTRIBUTES
Product
Packaging
Labeling Attributes
Functional benefits
INTANGIBLE ATTRIBUTES
Quality
Emotional benefits
Value
Culture
Image
A brand comprises of
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Why does brand matter??
CONSUMERS
Risk & searchcost reducer
Identificationof source - xp
with samemaker
Assignment
ofresponsibility
to productmaker
Promise,bond or pactwith product
maker
Signal ofquality
Symbolic
device Consumer offer loyalty expectBrand to behave in certain way,
Provide utility tru consistent
Performance & right pricing &
distribution
- Satisfy cont buying
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Brand reduce risk in product decisions. Types of risk:-
1. Functional riskproduct doesnt perform as expected
2. Physical riskproduct poses a threat to the users physical well beingor health
3. Financial risk not worth the price paid4. Social risk results in embarrassment from others
5. Psychological riskaffects users mental well being
6. Time risk failure of product results in an opportunity cost of findinganother satisfactory product
Consumers can handle these risk, but best way is to buy wellknownbrands
Brands can change expectation and experience
Consumers life is more complicated and rushed ability of brand to
simplify decision making and reduce risk is invaluable
Why does brand matter??
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FIRMS
Identificationsimplify
handling andtracing
Legally protectunique
features
Signal ofquality level to
satisfycustomers
Endowproducts with
uniqueassociation
Source ofcompetitiveadvantage
Source offinancial
returns
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What can be branded??
brand
Physical goodsb2b, hightech Services
professional svces
Retailers &distributors
Online products &services
Ppl & organisations
Sports, arts andentertainment
Geographiclocations
Ideas and cause