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Introduction to Brand Management - II
Coming up…
• Little more about “Brands”• Brand v/s Products• Need/ role of Brands• Strategic Brand Management – an Introduction• Customer-based Brand Equity
Ref: Strategic Brand Mgmt. – Kevin Kelly
Brands
• Brand – “to burn”• AMA definition – Name, term, sign, symbol, design or a
combination of them….identify…. Differentiate from competition
Pears soap was the first registered brand as per Unilever
JWT first introduced trademark advertising in 1900 through a house advert
Awareness, Reputation, Prominence in marketCareful selection of brand elements
Brand v/s products
Kotler’s definition• Core Benefit• Generic Product• Expected Product• Augmented Product• Potential Product
Brand:• Product
+or- perceived
differentiator• Rational & Tangible• Performance based• Symbolic, emotional
Brand = Product + customer perception +performance + brand name + company
Ref: Strategic Brand Mgmt. – Kevin Kelly
Role of brands – for Customers
• Identification of source of product• Assignment of responsibility to the product maker• Risk reducer• Search cost reduces• Promise, bond, with maker of product (KF airlines)• Symbolic device• Signal of quality (arrow shirts)
Ref: Strategic Brand Mgmt. – Kevin Kelly
Role for Manufacturer
• Identification for handling• Patenting – Legal IPR protection etc• Signal of quality level – price ranges• Endowing products with unique associations• Competitive edge• Financial returns
Ref: Strategic Brand Mgmt. – Kevin Kelly
How can Brand Equity be created?
3 important questions
Ref: Strategic Brand Mgmt. – Kevin Kelly
How can BrandEquity be measured?
How can Brand Equity be used to expand Business
opportunities?
Strategic Brand Management• Design and implementation of Mktg. programs to build, measure
and manage brand equity
Identify and Establish Brand Positioning and Values
Plan and implement Brand Marketing Programs
Measure and Interpret Brand Performance
Grow and sustain Brand Equity
•Mental Maps•Competitive frame of reference•Points of parity and Points of difference•Core brand Values•Brand Mantra
• Mixing and matching of brand elements• Integrated brand marketing activities• Leverage of secondary association
Ref: Strategic Brand Mgmt. – Kevin Kelly
• Brand-product mix• Brand Portfolios and hierarchies• Brand expansion Strategies• Brand reinforcement and revitalization
Strategic Brand Management
Identify and Establish Brand Positioning and Values
Plan and implement Brand Marketing Programs
Measure and Interpret Brand Performance
Grow and sustain Brand Equity
• Brand Value chain• Brand audits• Brand Tracking• Brand Equity Management System
Ref: Strategic Brand Mgmt. – Kevin Kelly
Building Customer-Based Brand Equity
1. Brand building tools and objectives
2. Consumer knowledge effects
3. Branding Benefits
Ref: Strategic Brand Mgmt. – Kevin Kelly
1. Brand building tools and objectives
Choose Brand Elements
Brand name
Logo
Symbol
Character
Packaging
Slogan
Memorability
Meaningfulness
Likability
Transferability
Adaptability
Protectability
Ref: Strategic Brand Mgmt. – Kevin Kelly
1. Brand building tools and objectives
Developing Marketing Programs
Product
Price
Distribution Channels
Communications
Tangible and intangible
benefits
Value Perceptions
Integrate “Push” & “ Pull”
Mix and match options
Ref: Strategic Brand Mgmt. – Kevin Kelly
1. Brand building tools and objectives
Leverage on secondary associations
Company
Country of origin
Channels of Dist.
Other Brands
Endorsor
Event
Awareness
Meaningfulness
Transferability
Ref: Strategic Brand Mgmt. – Kevin Kelly
Consumer Knowledge Effects
• Brand Awareness– Depth
• Recall • Recognition
– Breadth• Purchase• Consumption
• Brand Associations– Strong
• Relevance• Consistence
– Favourable• Desirable• Deliverable
– Unique• Points of parity• Points of difference
3. Possible outcomes
• Greater Loyalty• Less vulnerability to competitive marketing actions and
crises• Larger Margins• More elastic response to price decreases• More inelastic response to price increases• Greater trade cooperation and support• Increased marketing communication efficiency and
effectiveness• Possible Licensing opportunities• More favourable brand extension evaluations
Measuring Customer-based Brand Equity
1. Brand AuditA. Brand Inventory
B. Brand Exploratory
2. Brand Value ChainA. Brand equity sources
B. Brand equity outcomes
3. Brand equity management systemA. Brand Equity Charter
B. Brand Equity Report
C. Brand Equity Responsibilities
Managing Customer Brand Equity
1. Define Brand hierarchyA. Principle of Simplicity
B. Principle of relevance
C. Principle of differentiation
D. Principle of prominence
E. Principle of commonality
2. Define Brand- Product mixA. Brand extensions
B. Brand Portfolio
3. Enhance Brand Equity over timeA. Brand Reinforcements
B. Brand revitalization4. Establish B.E. over
market segmentsA. Identify differences in consumer
behavior
B. Adjust Branding program