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Designing & Implementing Brand strategies (Brand architecture,…
Designing & Implementing Brand strategies
Brand architecture
, involves deciding which brand names, logos, symbols should be applied to which products and the nature of new and existing brand elements to be applied to new products.
Brand product matrix
is a graphical representation of all the brands and products sold
Brand portfolio
is the set of all brands and brand lines that a company sells in a
particular category
. When designing a brand portfolio it should be clearly differentiated and appealing to a sizable enough marketing segment to justify its marketing and production costs
Breadth of branding strategy
, concerns the number and nature of products linked to the brands sold by a company. Strategic decision have to be made concerning how many product lines a company should carry (i.e the breadth of product mix)
Depth of branding strategy
, concerns the number and nature of brands marketing in the product class sold, this is important as it increases shelf presence and retailer dependence, attract consumers seeking variety who may otherwise switch to another brand.
Flankers/fighters
, flanker brands create stronger points of parity with competitors' brands so that more important (and more profitable) flagship brands can retain their desired positioning
Cash cows
, These are brands that are kept around despite dwindling sales because they manage to hold on to customers and maintain their profitability with little marketing support
Designing a band strategy
Principle of relevance
shows that it is desirable to create associations that are relevant to as many brands nested below as possible, especially at the level of corporate and family brand
The principle of differentiation
If two brands cannot be easily distinguished, then it may be difficult for retailers to justify supporting both of them , it can be confusing for customers too
Principle of simplicity
is based on the need to provide the right amount of branding information to customers- no more and no less.
Combining brand elements from different levels
, the corporate/product relationship is the approach taken in communicating the relationship of products to each other
Brand dominance,
decision is made not to relate brand and corporate names (Philip Morris, loosely connected to Malboro)
Equal dominance
, Separate images are maintained for products, but each is also associated with company (GM with its company and individual brands)
Single entity
, one product/set of services is offered that the image of the company and the product tend to be one and the same (FedEx)
Mixed dominance
, individual product brands are dominant and some times the corporate name is dominant, in some cases they are used together.
Corporate dominance
, the corporate name is supreme and applied across a range of product lines, and communications tend to reinforce the corporate image (Gucii)
Brand Hierarchy ,
is a means of summarizing the brand strategy by displaying the number and nature of common and distinctive brand elements across the firms products, revealing the explicit ordering of brand elements
Building equity at different hierarchy levels
Umbrella branding
(also known as family branding) is a marketing practice involving the use of a single brand name for the sale of two or more related products (Lynx shower gel, deodorant, Hair gel ). As products become more commoditised and homogeneous it is harder for the corporate brand to be used and retain product meaning or link to separate products effectively
Modifier level
, Modifiers distinguish brands according to the types of items or models involved, it signals refinements or differences in the brand related to factors such as quality (Johnnie walker, Red, Black, Gold, Blue label whisky)
Corporate brand equity
, is the differential response by consumers, customers, employees, other firms or any relevant constiuency to the words, actions, communications products or services provided by a brand
Corporate image dimensions
Values and activities,
may reflect vales and activities of the company that does not always directly relate to the products they sell . They can run these as a means of describing to consumers, employees and others the philosophy and actions of the compnay with respect to organisational, social, political and economic issues
People and relationships
, Corporate image associations may reflect characteristics of the the employees of their company (Singapore airlines, Virgin airways)
Using cause marketing to build brand equity
Advantages
Enhance brand image
, could clearly bolster the sincerity dimension of a brand's personality that customers would think of the people behind the brand as caring and genuine
Establishing brand credibility
, because consumers may think of a firm that is willing to invest in cause marketing as caring more about customers and being more dependable than other firms
Building brand awareness
, campaigns can be a means of improving recognition for a brand, although not necessarily recall.
Refers to a type of marketing involving the cooperative efforts of a for-profit business and a non-profit organization for mutual benefit.