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Week 1: Brands & Brands Management (Can anything be branded? (Brand a…
Week 1:
Brands & Brands Management
Definition of Brand
Name, term, sign, symbol, or any other feature which is intended to identify the goods/ services
Cust experience --> images and ideas
Human Evolution
Status and physical attractiveness enable greater access to resources
Signal
--> best brand, most successful, can afford this brand then feel gd
Modern world, status and attractiveness provides:
Emotional payoff (feel gd) and social currency
Financial rewards
Pdt
Pdt Levels
Core benefit
Generic pdt
Expected pdt
Augmented pdt
Potential pdt
Brand vs Pdt
Pdt vs Non-pdt related competitive adv
Self-concept and Brand Attachment
Reflects bond that connects a consumer w a specific brand that involves feelings towards the brand
Affection, passion, connection
Why do brands matter?
Consumers
Firms
Can anything be branded?
Brand a B2B pdt
Brand a tech co.
Services
Brand a person and Org
Branding challenges
Brand Equity
Strategic Brand Management Process
Identifying and Developing Brand Plans
Designing and Implementing
Brand Marketing Programs
Choosing brand elements
Integrating the brand into marketing activities and the supporting marketing program
Leveraging secondary associations
Measuring and Interpreting
Brand Performance
Brand audits
Brand tracking studies
Brand equity management system
Growing and Sustaining
Brand Equity
Brand architecture
Managing brand equity over time
managing brand equity over geographies, culture and segments