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Brands & Branding Management Presentation & Discussion
Brands & Branding Management Presentation & Discussion
Brands & Branding Management Presentation & Discussion
Distinctive
Easy to remember
Easy to pronounce
Relevant to the offering Positive about the offering
associated with an offering. Used as a differentiating criteria between offerings. The genesis/basis of brand management is consumer perceptions the need to satisfy consumers perceived differences between offerings.
it is a name, term, symbol, feature or any combination of these. It is used/employed to identify the distinctiveness (special) of an offering (i.e., product, service, brand) from those of competitors. The legal term for brand is Trademark.
1. Coca-Cola 2. Microsoft 3. IBM 4. GE 5. Intel 6. Nokia 7. Disney 8. McDonalds 9. Marlboro 10. Mercedes
USA USA USA USA USA Finland USA USA USA Germany
Source: Business Week Special Report, August 4th, 2003
product relationships provide the basis for certain cultural roles/transformation. Brands can command higher financial value than the net book value of tangible products.
The purchase of Kraft by Philip Morris The Split-up of Saachi & Saachi Advertising Agency between the original owners (Saachi brothers) and shareholders & senior managers
Brands
Because product differences are generally non-
existent, brands have been successful in creating a seeming tangible image of the product. Products are made in the factory Brands are what consumers buy
The two statements are linked by the concept of added value Brands help to create an image and establish a positioning for the firm/offering Hence, brand management and positioning are intertwined.
Brands
Firms (e.g., retailers) can introduce their
own brands to further enhance their positioning/competitive advantage. Retailers own brands, store brands or private label brands:
Sears Kenmore electricals, Craftman tools, DieHard batteries M&S St. Michaels ASDA (now Wallmart) George
Brands
Brands extend beyond offerings into (a) people, (b) organizations,
Brands
Virtually anything can be and has been
Vision of the mass market Managerial persistence Financial commitment Relentless innovation Asset leverage
The underlying issue about the above is the concept of added value
finished offering can command a higher price than the cost of its component parts or the raw material used in producing it in other words...
The finished offering is more valuable to the
consumer than the pile of raw material from which it was made.
An offering will be
reliable, The offering is the best, An offering is good value for money.
the offering/firm in the market place) of the firm and the offering, Believes about the firms authority and its reputation in the market
This may be based on market share, history, consistency in marketing, experts (or family and friends) recommendation.
through the application of marketing strategies and tactics including the marketing mix 4 Ps/7 Ps:
Product/service/packaging, Promotion/marketing communications, Distribution logistics, Pricing Service quality and delivery Physical evidence of the premises/store/shop, People who actually interact/deliver the service STP marketing
the offering where none may exist functionally. They are the means by which offerings are positioned in the market place. Brand values create a total image and personality for the brand/offering. To the consumer the brand provides a guarantee of quality, value for money, the best choice.
Brand Equity
fundamentally, branding is about endowing products
and services with the power of brand equity.. (Keller, 2002, pp.42). Brand equity refers to brand/added value that has been associated with the offering over time. Brand equity = the value of the brand.
Several ways in which the value of a brand can be
manifested or exploited to benefit the firm: (a) greater profits, (b) market share, lower production costs (d) clear and long-lasting position in the market place.
marketing programs The capitalization on a well thought-out positioning Strong brand leadership position in the market place
marketing programs and activities to build, measure, and manage brand equity.
determined, the actual marketing program to create, strengthen, or maintain brand associations can be put into place (Keller, 2002, pp.45).
the brand vis a vis competitors, Assess perceptions of the target audience and Assess the firms own capabilities via marketing audit.
The goal is to place the brand image in the mind of the customer so as to maximize the firms benefits.
boundaries, cultures, and market segments. Changing PESTLE of the market place. Stochastic consumer perceptions
separate brand identities for different productsthe imagery varies from one brand to another:
Sprite and Mr. Pibb under Coca-Cola Lux and Dove from Unilever Toyota and Lexus from Toyota Honda and Acura from Honda.
refers to the strategy in which the brand and corporate name are the same
IBM & Nike = USA RBS & Virgin = UK Sony & Mitsubishi = Japan
Question?
What do the following mean?
Added value Brand value Brand equity Brand mantra Brand personality Product brand Corporate brand Positioning.
Corporate branding
The issue of company branding
reputation appear to project their core mission and identity in a more systematic and consistent fashion than those with lower reputation rankings. High reputation companies try to impart more information about their offerings, their operations, identity and history.
corporate image/reputation started from a customer market perspective. Further appreciation of the environment gave the impetus to the development of brand marketing. To this end, there are two perspectives to academic thinking about corporate branding: (a) marketing perspective and (b) multidisciplinary perspective.
Corporate branding
Multidisciplinary Perspective Organization focus. Corporate image
Corporate personality
Corporate associations Corporate branding
Importance of marketing communications in the branding process (corporate and offerings) is supported both conceptually and empirically. Communications revolve around (a) management, (b) marketing and (c) organizational and (d) brand stakeholder audiences.
Brand stakeholders that have an economic interest include Employees Shareholders Suppliers Partners (other owners of the business). Brands have an economic impact (affects) on: Customers Opinion formers (politicians) Regulators and Legislators.
Based on Bickerton D. (2000), Corporate reputation versus corporate branding: the realist debate, Corporate Communications: An International Journal, Vol.5, No.1, pp.42-48.
Questions?