Please enable JavaScript.
Coggle requires JavaScript to display documents.
CH04: Strategic Brand Management: Building, Measuring, and Managing Brand…
CH04: Strategic Brand Management: Building, Measuring, and Managing Brand Equity
-
Options and Tactics for Brand Names
What would be an ideal brand element be like?
:check: Easily remembered
:check: Highly suggestive of product class and benefits
:check: Inherently fun or interesting
:check: Rich with creative potential
:check: Transferable to wide variety of product and geographic settings
:check: Enduring in meaning and relevant over time
:check: Strongly protectable both legally and competitively
Brand Names are:
:pen: Important because it captures central theme or key associations of a product in compact and economical fashion
:pen: The most difficult element for marketers to change as they are closely tied to product in minds of consumers.
:pencil2: Selecting brand name for a new product is an art and science.
:pencil2: Must be chosen with 6 criteria in mind:
1) Memorability
2) Meaningfulness
3) Likability
4) Transferability
5) Adaptability
6) Protectability
Brand names contributes to::check: Brand awareness:
- Especially those that are simple and easy to pronounce/spell
- Familiarize consumers with the brand itself
- Brand names adds meaning to the respective brand
- Distinguish a brand from another; for those that have similar product/s. E.g, Darlie and Colgate
:check: Brand associations; through explicit and implicit meanings of the brand name.:check: Product positioning:
- Brand name reinforce important attribute or benefit associated with the brand
:pen: Descriptive brand name should make it easier to link reinforced attribute or benefit
Naming procedure:
1) Define objectives
2) Generate names
3) Screen initial candidates
4) Study candidate names
5) Research final candidates
6) Select final name
URL
:star: Specify locations of pages on web, also referred to as; domain names.
:pen: URL/domain names must be registered and paid for by owner.
- This protects the brand from unauthorized use in other domain names or also known by the term, cybersquatting which is the practice of registering, trafficking in or using a stolen domain name to profit from them.
Company needs to protect their brands from unauthorized use in other domain names. Some of the actions they can make are:
:check: Sue current owner of URL for copyright infringement
:check: Buy the name from current owner
:check: Register all conceivable variations of its brand as domain names ahead of time
Logos and Symbols
:pen: Logos:
- Visual elements are important in building brand equity and awareness;
:check: They indicate origin, ownership or association
:check: Range from corporate names or trademarks written in distinctive form to abstract designs that may be completely unrelated to corporate name or activites
:pen: Symbols
:pen: Abstract logos can be distinctive and recognizable:
:red_cross: Abstract logos may lack inherent meaning present with a more concrete logo
:!: Consumers may not understand what the logo is intended to represent
:pen: Characters
- Is a special type of brand symbol, but one that takes on human or real-life characteristics (more physical and present in the real world)
- It's introduced through advertising and it can play a central role in ad campaigns and package designs
:pen: Slogans
:check: Designing slogans:
- Slogans are designed so they contribute to brand equity in multiple ways
- It can contain product-related messages and other meanings
:check: Updating slogans:
- It's contribution to brand equity is recognized through enhanced awareness or image
:check: This decide how much of the equity enhancement is still needed
:check: Updating slogans also retain needed or desired equities still residing in the slogan whilst also providing whatever new twists of meaning are necessary to contribute to equity in other ways.
:pen: Jingles
- Musical messages written around brand
- Catchy hooks and choruses; which became permanently registered in minds of listeners. Hence, enhancing brand awareness by repeating brand name in clever and amusing ways.
:pen: Packaging
:check: Right packaging can create strong appeal:
- On store behalf
- Help products stand out from clutter
- Provide atleast temporary edge on competition
:check: Packaging inovators:
- Can lower costs
- Improve demand for product
:check: Package design:
- Become more sophisticated process; whereby specialised package designers bring artistic techniques and scientific skills
:star: Refer to "shelf impact" of a package
:check: Packaging changes can be expensive but can also be cost-effective compared with other marketing communication costs:
- Packaging changes signal higher price, or move to effectively sell products through new or shifting distribution channels
- Also benefits a significant product line expansion from a common look
- As well as to accompany new product innovation to signal change to customers
- Finally, to update a look of an old packaging
:star: Putting it All Together
- Each brand element play different roles in building brand equity; marketers "mix and match" said elements to maximise brand equity
- Brand identity is the entire set of brand elements; the contribution of all brand elements to awareness and image