Brand Management Lecture 1
- Reading 5 篇！
- Textbook, online version
Requirement:
- 3000 words, briefing in week 3
- Build a brand structure
Definition of a Brand
- A brand is a name, term, sign, symbol or design or a combination of these intended to identify the goods or services of one seller or group of sellers, and to differentiate them from those of competitors
A Branded Word
Cashless society
C2C, Airbnb
Online store move to off-line, e.g amazon shop
Celebrity
British Loyal Family
Country, e.g. Trump would like to make America Great again
Football team, e.g. Manchester United
Health international community, e.g Unicef, International Women's Day
Strategic Impact of Brand Building
Increase corporate profit margins& advantage, reduce price differentials
Facilitate portfolio, international and category expansion
Provide leverage in distribution channels
在分銷渠道中發揮槓桿作用
Source of sustained loyal customer base
Act as barrier to competion
Provide resilience to endure crisis
Consumer Perspective
Brands facilitate recognition and identification to reduce time, cost and effort in decision making
Hallmarks of quality & reliability
質量和可靠性的標誌
Supports consumer self-image and identity
Risk reducer
Engagement enhances experience of acquisition of goods.
Though often viewed as increasing the efficiency of different channels, in reality, it is about maximizing the different channels to achieve scalability
Accepted Dimensions of Construct
A brand has added value dimensions that differentiate it in some way from offerings designed to meet the same need
Ultimately a brand is something that resides in the minds of consumers
Some brands create competitive advantages with tangible attributes; other brands create competitive advantages through intangible means
Theory & Practice Converge 匯合
Cultural Meaning of Brands
Emerging Importance of Brand Relationships
Brands, at their best, are among other things, bundles of meanings, some of them robust, some of them delicate, all of them poised to speak to one or more segments and to deliver an understanding of not just what the product does but what it means-its culural meaning
( Grant McCracken, 2010)
The Brand Evolution Process
→ Product brand: Products with no added value
connected to the generic element
→ Concept brand: Brand driven by emotional values
rather than product characteristics
→ Corporate concept brand: Brand that merge with the
company and present themselves in a sustained way
→ Brand culture brand: strong that in the eyes of the consumer they have become equated with the function they represent
→ Brand religion brand: the brand has become a ‘must’ profess. The ultimate brand position
Self-Concept and Brands
Self-Concept is viewed as the sum of an individual's thoughts&feelings about herself or himself with respect to others [ Onkvisit & Shaw, 1987]
Actual Self: Based on the individuals realistic perception of himself/ herself
Ideal Self: How individuals would like to see themselves or be [Malar et al, 2011]
Positional Brands