1.introduction to brand mangement (four stages in strategic brand…
1.introduction to brand mangement
brand as a "name, term, sign, symbol, or design, or some combination of them, intended to identify the good and services of one sell or a group of sellers and to differentiate them from those of competition
describe different components of a brand
distinguish a brand from a product
product as anything we can offer to market for attention, acquisition, use or consumption that might satisfy a need or a want
the brand is more than a product because it can have dimensions that differentiated it in some way from the others products designed to satisfy the same need
the role of brand for consumer and organisation
consumer: identification of source of product, risk reducer, search cost reducer, signal of quality
organisation: signal of quality level to quality level to satisfied customer, source of competitive adcantage
four stages in strategic brand management process
designing and implementing brand marketing program
measuring and interpreting brand performance
identify and developing brand plans
growing and sustaining brand equity
7.brand extensions and branding new products
brand extension strategies
brand extensions aid in creating, maintaining, and enhancing brand equity.
the popularity of brand extensions, which apply an established brand name to a new product in the same product ( line extension)/ in the different product category (category extension)
fuelled by the rising cost of introducing new brands and by the growing realisation among companies that their brand investments can be leverage
factors that contribute to brand extension success
successful brand extension create equity for the new product
(through the saliency of parent brand associations, favourability and uniqueness of inferred associations in the extension category; i.e achieving desire POP and POD)
but also add to the equity of the parent brand
advantage and disadvantage of brand extensions
facilitate new product acceptance by reducing consumer's perceived risk raising the probability of gaining distribution trial
increasing the efficiency of promotional expenditures
lowering the costs of marketing programs
eliminating new brand development costs
allowing for packaging and labelling efficiencies
permitting consumer variety seeking
provide feedback benefits to parent brand by clarifying the meaning of brand
enhancing the parent brand image
attracting new customers to the brand franchise
thereby, expanding market coverage
revitalsing the brand
facilitating subsequent extensions
confuse or frustrate consumers encounter retailer resistance
hurt the parent brand image if they fail
cannibalise sales of the parent brand
diminish the parent brand if they succeed
dilute the overall meaning of the parent brand
eliminate the opportunity to develop a new brand with its own unique image and equity
define brand architecture and discuss the steps in a brand architecture strategy
the role of brand architecture is to clarify brand awareness and improve brand image
three steps on a brand architecture strategy
identifying the product and service elements and positioning associated with the specific products and services for the brand
identifying the product and service extensions that will allow the brand to achieve that potential
defining the potential of a brand in terms of its " market footprint"
what is meant by depth and breadth of the brand-product matrix
brand boundaries (breadth) and brand complexity (depth)
the brand product matrix is a graphical representation of all the products sold by a firm
each row of the matrix is labelled with a brand name, while each column represent a product.
Thus, the rows of the matrix correspond to brand lines (all the products sold under a particular brand name, the brand's extension)
while the column correspond to product lines, a.k.a brand portfolios
general criteria for selecting brand elements
First, an element should be memorable, esay to recall, and recognise.
second, an element should be meaningful, or descriptive, persuasive, inherently fun and interesting, and rich in visual and verbal imagery.
third, an element should be likeable to consumer, in an aesthetic sense and in an emotional sense.
forth, an element should be transferrable within and across product categories, and across cultural and geographic boundaries.
fifth, an element should be adaptable, or flexible and capable of being updated over time
sixth, an element should be protectable, both legally and competitively
how a brand elements can contribute to brand's equity
in the other words,all the brand elements for a particular brand create the brand identity, which convey the contribution of these elements to image and awareness
key tactics in choosing different brand elements
identify different type of brand elements used to differentiate a brand
brand elements: names, logos, jingles, symbols, characters,slogans, URLs and packages all influence a company's ability to build awareness and image for a brand and have a direct impact on teh degree of positive brand equity that can be established.
rational for 'mixing and matching' brand elements
core brand association and brand mantra
as brand expands, marketers can use a mental map to represent all associations and responses consumers have regarding the brand.
core brand values are the five or ten most important attributes or benefits of the brand that appear on the mental map.
brand mantra can capture the core brand values and provide the essence (or spirit) of the brand in short ,3-5 words phrase
define brand positioning and different brand positioning strategies
positioning is a core concept within marketing strategy, positioning refers to designing the companies offering and image so that it occupies a distinct place in the mind of consmers
different positioning strategies include attributes, competitors, use or application, price/ quality, product user, product class
define and distinguish between POP &POD
PODs are attributes or benefits that consumers strongly associate with a brand, positively evaluate, and believe that they could not find to the same extent with a competitive brand.
POPs are not necessarily unique to the brand but may infact be shared wth other brands
four components of brand positions
who the target consumer is; who the main competitors are( competitive frame of reference); how the brand is similar to that of competitiors (POP); how the brand is different from competitiors.
IMC and leveraging secondary associations
the rational for mixing and matching communication options
through complementary, results greater than the sum of their individual effects ( through visual or verbal information)
enhance consumer motivation, ability and opportunity to process and retrive brand -related information
facilitating brand resonance
the impact of leveraging on both existing brand association and the formation of new brand associations
eight methods of linking secondary brand knowledge to a brand
companise, countries, channels, cobranding, character, spokespersons, sponsorship, third party sources
the role of marketing communication in building brand equity
creating, reinforcing, strengthening fouoveable and unique brand associations
eliciting positive brand judgement or feeling
affecting brand awareness
facilitating brand resonance
measuring brand equity
effective qualitative research techniques for tapping into consumer brand knowledge
Qualitative:the best for capturing specific consumer insight about brands, products and services
profile the popular brand equity model Kantar Millward Brown Brand Z
effective quantitative research techniques for measuring brand awareness, image, responses, and relaionship
importance of two steps in conducting a brand audit
the purpose of brand inventory is to provide a current, comprehensive profile of how all the products and services sold by a company are marketed and branded.
The brand exploratory is research directed to understanding what consumers thinks and feel about the brand and act towards it in order to better understand sources of brand equity as well as any possible barriers.
2.costumer-based equity and brand resonance
define and describe CBBE
CBBE: the differential effect that brand knowledge has on consumer response to marketing of that brand
various sources of brand equity
necessary condition for inclusion in the set of brand being consider to purchase
low-involvement decision setting sit can be a sufficient condition for choice
it influences the nature and strength of associations that comprise the brand image
can be heightened by increasing consumer exposure to the brand and linking the brand to product category, consumption and usage situations.
reflects all the associations consumer have for a brand in memory
associations can be about attribute and benefits, or attitude
attribute: the actual physical components and ingredients of a brand ( product-related)
price, imagery, feelings, experiences and personality associated with the brand (non-product related)
CBBE pyramid considers brand salience, performance, imagery, judgements, feelings and resonance
resonance is intensity, depth, psychological bond that customers have with the brand, as well as the level of activity engendered by this loyalty.
steps in building brand resonance
four steps to building a strong brand include: identity (salience), meaning (performance, imagery), response (judgements, feelings) and relationships (resonance)
international Brand management
considerations for standardisation and customisation
in order to build global customer-based brand equity, brand awareness and positive brand image must be created in each country where the brand is marketed.
Balancing the degree of globalisation and localisation in the choice of brand elements, design of supporting marketing plan, leverage of secondary plan associations
Differences in consumer behaviour, firms has to tailor products and marketing program to different national markets as a result
strategic steps in developing a global brand positioning
global brand positioning requires creating mental maps, defining core brand associations, identifying points-of-parity and points-of-difference, and crafting a brand mantra.
main advantages and disadvantages of developing a standardised global marketing program
advantage: allow economies of scale in production and distribution
resulting in lower marketing costs
convey expertise and credibility
communicate a consistent brand image
permit quick and efficient leverage of good ideas
enhance the uniformity and control of marketing programs
Critics of standardising marketing programs contend that they are base on "lowest common denominator"
approaches that ignore differences across countries and cultures
such differences may be related to consumer tastes and responsse to marketing mix elements
product or brand life cycle stages, competitive stages, competitive sets, reactions of country manager, legal requirements and restrictions, and the marekting infrastructute.
the rational for developing a global brand
search for ways to achieve economics scale, maximise growth and profit, diversify risks and satisfy the needs and wants of increasing mobile consumers.
market place as international rather than domestic
Reinforcing, Revitalising, and retiring brands
important considerations in reinforcing brand equity over time
four important factors in reinforcing the brand meaning are
consistency in the amount and nature of marketing support give n a brand
commitment to preserving and protecting existing source of equity
recognising the inherent tradeoffs between marketing activities that fortify the brand equity and those that leverage it in the pursuit of growth and financial gains
fine tuning the supporting marketing porgrams
strategic options for brand retirement
reduce the number of product type, consolidate into a stronger brand, or discontinue the product
brand revitalisation options to a company to improve brand awareness and brand image
taking the brand back to its roots to recapture lost resource of equity
identifying the new sources of equity
a lack of breath in consumer awareness level
identify the ways to use the brand more frequently
when the problem is one of the image
a new marketing campaign is required to improve the strength, favourability, and uniqueness of a brand's associations
repositioning the brand, changing brand elements, or entering new markets
how brands can define a new subcategory
the importance of brands having a " higher purpose"
how to achieve " sweet spot communication"
10.conducting a brand audit
the importance of conducting a brand audit
the purpose of two steps in conducting a brand aduit
brand elements includes: name, logo, symbol, character, spokesperson,slogan,jingle, packaging, signage and URL