new stretegic brand management - chapter 4
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- 1. Produced by Kevin Almeida CHAPTER 4: BRAND DIVERSITY: HOW SPECIFIC ARE DIFFERENT SECTOR?
- 2. Produced by Kevin Almeida Contents All about Luxury Brands Service Brands Creating Value The human component Process and Recruitment Brands The branding of Nature Pharmaceutical Brands B2B Brands Country Brands Celebrity Brands
- 3. Produced by Kevin Almeida Luxury brands are specific How is luxury brands different from luxury brands; Coach, Victorias Secret, Lingerie, Callaway golf clubs, Belvedere Vodka or Nespresso Coffee these brands are typical of trading up, as consumers move up the range. There is a bit of luxury ingredients in these brands (better quality, selective distribution, emotive value). Let us return to its etymology. Luxury is an enormous distance. There is a discontinuity between premium and luxury.
- 4. Produced by Kevin Almeida Luxury Fashion Premium Luxury Brands Is creator driven, not consumer oriented. It is not managed at all like normal brands. Classical marketing kills it. Premium Products Are more traditional managed, and follow classical marketing principles. Fashion System Is obsessed with being out of fashion. Prices must be cut by 50%, and profitability disappears. Dream Seduction Realism Priceless Hedonism Superlative Gift Social elevation Timeless Self distinction Performances/Price Rational Investment Comparative Tribal Differentiation Imitation Ephemeral
- 5. Produced by Kevin Almeida Four types of luxury Affluent young executives with high purchasing power. It gives prominence to the beauty of the object. Most representative of this type of luxury is Rolls-Royce. Second type exalts creativity, the sensuality of the products. Representatives are Gucci, Boss and J-P Gaultier. Third type values timelessness and international reputation more than any other facets. Representatives are Porsche, Louis Vuitton and Dunhill. Fourth type values the feeling of being among only a few to posses the brand. Representatives are Chivas Royal Salute, Mercedes.
- 6. Produced by Kevin Almeida Luxury business model Distinguishing between two different business models for brands. 1. Brands with a history behind them. 2. Lacking such a history of their own, have invented a story for themselves. The luxury Pyramid The griffe The luxury brand The Upper-range brand The Brand Mone y Aura Pure creation, unique work, materialized perfection Small series, workshop, handmade work, very fine craftsmanship Mass series, cost pressure, the spiral of quality Series, factory, highest quality in the category accessories Attributes Relations
- 7. Produced by Kevin Almeida Service brands There is no legal difference between product, trade or service brands. These are economic distinctions not legal ones. Type of Service: Car rental, Temporary work, Computer services, Leisure activities, Hotel business or Higher education. Service brands use Slogans. Slogans are indeed vocal, they are the brands vocatio, its a commandment for both internal and external relations. Through a slogan, the brand defines its behavioural guidelines, and these give the customer the right to be satisfied if they are transgressed. Branding in the service sector entails a double recognition. Staff must recognize the brand values as their own. The internalization process is crucial.
- 8. Produced by Kevin Almeida How service brands create value Branding in the service sector entails a double recognition. Within the company people must recognize the brand values as their own. The internalization process is crucial. Brand management in the service sector means not only delivering a differentiated experience but ensuring that the resulting satisfaction will be attributed to the right brand.
- 9. Produced by Kevin Almeida Human, process and recruitment of service brands The first consequence is that the service brand is constructed internally. (It might be in the store, from the call center or over the internet) The second consequence is that employees cannot be expected to treat customers well if they arent happy themselves. In order to carry out the primary function of any major brand, the brand is necessarily linked to the setting up internal and customer facing processes.
- 10. Produced by Kevin Almeida The branding of nature Fresh produce has an intrinsic variability derived from the vagaries of nature; customer prefer the regularity and certainty. Eg: Saveol Brand the banner under which dozens of tomato producers have joined together, united by a single desire to create a superior and different product, to respect the same innovative production processes. Extended Learning: Building a Wine Brand
- 11. Produced by Kevin Almeida Pharmaceutical brands The medical environment is characterized by several factors that outline how and why brand building is specific to it; All prescribers are known, put on file and stored on a database. The available information is almost complete through doctors panels and pharmacists. It is possible to model demand in an econometric fashion, due to the completeness of the information. The subject is highly scientific. Even if B2C communication is permitted under certain stringent conditions, the end client has little say in the final prescription decision.
- 12. Produced by Kevin Almeida Pharmaceutical Brands (Cont.) Prescription is increasingly influenced by the final prayer; this particularly true of generic drugs. It is a market where, given the short lifespan of patents-20 years- the day and year of generic drugs launch can be predicted. It is an increasingly regulated market. Given its low margins, if too many generic producers offer the same product, they will struggle to turn a profit. It is a market where counterfeits flourish. In fact, the active ingredients of drugs can be bought at very low prices.
- 13. Produced by Kevin Almeida Business to business brands Buyers engage in relationships, not simply transactions. Most B2B purchases are risky; they concern ingredients of a product or service. The corporate brand is the source of trust. The product brand is there to claim its uniqueness in delivering delight.
- 14. Produced by Kevin Almeida Industrial brands
- 15. Produced by Kevin Almeida The internet brand The characteristics; Do not have clients, but users, known one by one. Promise a price advantage. Prove by experience. Permanently adapting and updating. Easy to globalize.
- 16. Produced by Kevin Almeida Re-cap All about Luxury Brands Service Brands Creating Value The human component Process and Recruitment Brands The branding of Nature Pharmaceutical Brands B2B Brands Country Brands Celebrity Brands
- 17. Produced by Kevin Almeida Questions?
- 18. Produced by Kevin Almeida THANK YOU
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