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Session 14: Introduction to Branding - Coggle Diagram
Session 14: Introduction to Branding
Reading 22 Notes
"Introduction to Branding"
Defining a Brand
Concept has evolved over time, from a basic device for distinguishing one offering from another to a sophisticated concept formulated to compete in an online connected marketplace.
Latest definition
"a brand is a shared desirable and exclusive idea embodied in products, services, places and/or experiences" (Kapferer, 2012, p. 10).
"everything can be a brand"
(Kapferer, 2012, p. 10)
People (celebrities) making themselves into brands.
Places being promoted as brands.
Key Concepts
Brand Indentity
Definition
- formulation of a brand in terms of what it stands for from the perspective of the organisation that created it.
Brand Image
- is the perception of a brand from outside the organisation that created it.
Organisations cannot always control external factors that distort their brand identity.
6 facets...
(Kapferer, 2012, p. 158-162)
Physique
- physical qualities.
Personality
- character traits.
Helps to define the organisations view of the brand.
Culture
- ideology.
Relationship
- how the brand presents itself, exchanges, advertising and the way it relates to customers.
Bridges gap between sender and recipient.
Reflection
- types of users.
Self-image
- how consumers picture themselves.
Helps to define the recipient.
Strong brand identity should...
(Kapferer, 2012, p. 156)
Have few words per facet.
Different words for each facet
Have strong words rather than lukewarm words.
Brand Reputation
"a collective representation of a brand's past actions and results that describe the brand's ability to deliver valued outcomes to multiple stakeholders". (Harris, 2002)
Own views are derived from...
Own perceptions.
Who you have seen consume the brand.
Marketing of the brand
Media articles.
Brand Equity
"the monetary value of the psychological goodwill which the brand has created over time" (Kapferer, 1997, p. 24)
Indicators include...
Recognition
Spontaneous recall of the brand.
Being part of a buyer's consideration set.
Brand Content
"Brand content engages consumers to relate to the brand, because it does not talk about its products, but about a domain of mutual interest between the brand and the public." (Kapferer, 2012, p. 142)
About making a meaningful connection with customers.
Need to provide content that will engage, help, inform or entertain people and that they will want to share.
Not limited to online medium: there is a range of channels.
Role of Brand for Orgs
Guarantee future income (Doyle, 1989) through brand equity
Enable premium pricing to be charged (Kapferer, 2012)
Deter market entry from potential competitors (Kapferer, 2012)
Facilitate their own entry into new markets (Kapferer, 1997)
Increase bargaining power with distributors (Aaker, 1991)
Command royalties through licensing (Kapferer, 2012)
Act as a communication device to consumers (Goodyear, 1996) through a
brand’s identity (the formulation of its essence by the organisation)
Benefit sales through identification and familiarity among consumers
(Berthon et al., 1999), because familiar brands tend to be preferred
(Aaker, 1991)
Encourage consumer loyalty (Kapferer, 2012).
Role of Brand for Consumers
Facilitate identification and the cost to consumers of searching among
offerings (Kapferer, 1997)
Act as cues to information about products (Aaker, 1991)
Facilitate consumers’ decision-making (Kapferer, 1997)
Inspire trust and increase consumers’ confidence in their purchase
selection (Aaker, 1991)
Reduce perceived risk of a purchase (Berthon et al., 1999) (such as
financial, performance and social risks)
Communicate brand associations or activate brand inferences that
contribute to consumer satisfaction (Aaker, 1991)
Stimulate emotional rewards such as nostalgia, a sense of identity and
fulfilment of personal values (Goodyear, 1996; Kapferer, 1997;
Lury, 1998)
Brand Architecture and Naming
Consumers make inferences based on brand names (Peterson and Ross, 1972)
Encapsulates everything associated with a brand.
4 Categories of Brand Names
Company as
brand name
Strong company endorsement
Weak company endorsement
Individual
brand name
5 Types of Brand Name Trademarks
Coined –
a name that uses a made-up word (for example, the insurancebrand AXA)
Arbitrary –
a name that uses an existing word that has no prior meaning associated with the company or product which it names (for example,.
the online retailer Amazon)
Suggestive
– a name that infers the nature or benefits of the product or company (for example, the bread brand Sunblest)
Descriptive –
a name that describes the characteristics of a product or company so that what it offers can be understood without prior knowledge (for example, the London-based gutter cleaning company ‘Gutter Cleaning London’)
Generic
– a name that is synonymous with the product category (for example, cellophane was deemed to be the generic name for ‘a sheet of
transparent regenerated celluloid’ and could not be trademarked as a brand)
Brand-Naming Approach
1. Specifying the objectives of branding:
Set out clear objectives for the naming process.
This can be drawn from the marketing strategy,
especially the positioning statement for the product
2. Creation of candidate brand name:
Create a reasonably long list of candidate brand
names. This will ensure a good pool of alternatives.
3. Evaluation of candidate brand names
:
Conduct a thorough evaluation of candidate names.
4. Choice of a brand name
:
Systematically apply the objectives and criteria specified in the earlier steps in choosing the final brand name.
5. Trademark registration:
Choose four to five names for submission to the Patent and Trademark Office for registration.
Logos
Use logo and particular colours to augment the distinctiveness of the brand and help to make them readily recognisable.
Can be used to encapsulate qualities or the heritage of a brand.
Packaging and Labelling
Contribute to communication and perceptions of brands.
Imagery and information on packaging and label can feed into consumers purchase decision-making about whether the product appears appealing and is likely to meet their needs.
Can reassure customers that the contents are safe.