Strategic Brand Management

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Lecture: 07

Strategic brand management

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Brand

Category

Branding

Brand Management

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Laws to Success - 1
The fundamental law of Marketing is the Law of

Leadership. The Law of Leadership is the Law of PR. Building buzz makes news. Being first in a new category makes news. Not being better than your competitors. In spite of this law, every company focuses on being better. The key is to create the perception in the mind that being first means being the best.

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Laws to Success - 2
Another Law of Marketing is the Law of the Mind.

First in the market is nothing. First in the mind is everything. Law of Profits. You can sell anything if it's cheap enough. To make money you need a brand. The Law of Line Extension. You can't stand for something if you put your name on everything. Law of Divergence. As time goes on every category will diverge.

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OBJECTIVES OF BUSINESS
1. To

Build equity Or To make profit

Saving s ReInvestment Grow th
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THE ENTIRE MARKETING PROCESS

TARGET MARKET
VALUE INNOVATIO N VALUE PRICING VALUE DELIVERY VALUE PROPOSITI ON

OTHER VARIABLE S

Product, Service, Place, Idea, Entertainment, Human Resources etc

Branding

Through IMC Options

EQUITY MANAGEMENT

TRACKING OF EQUITY

BUILDING BRAND EQUITY

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MARKETING PROCESS CONTROLLABLE & UNCONTROLLABLE VARIABLES :

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Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably. -By Kotler
Marketing is a process of planning and executing the conception, pricing, promotion and Distribution of ideas, goods and services to create exchanges that satisfy individual and organization objectives. American Marketing Association Marketing is creating and retaining consumers by creating value. By Course Instructor.

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Bottom Line of All Marketing Activities

Creating Difference For Value Delightment To Have Competitive Edge Leading To Building Brands Building Brand Equity Creating & Retaining Consumer / Customer
Competitive Edge

Show crazy

Creating Difference

Value Delightment

Creating Consumers
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Retaining Consumers

What is a brand?
The word brand is derived from the Old

Norse word brandr, which means to burn as brand were and still are the means by which owners of livestock mark their animals to identify them. According to the American Marketing Association, a brand is a name, term, sing, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition. Thus, the key to creating a 5/19/12 brand, according to this definition, is to

What is a brand name?

That part of a brand which can be vocalized

the utter able.

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What is a brand mark?

That part of a brand which can be

recognized but is not utter able, such as symbol, design, or distinctive coloring or lettering.

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What is a trade mark?

A brand or part of a brand that is given legal

protection because it is capable of exclusive appropriation. A trademark protects the sellers exclusive rights to use the brand name and/or brand mark.

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What is Brand
A brand is a name, term, sign, symbol, or design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
Name Term Sign Symbol Design Combination of all
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PROMISE

Examples of Brands of computer products

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 BRANDING CONSISTS IN TRANS FORMING THE PRODUCT CATEGORY A BRAND IS A LONG-TERM VISION A BRAND IS A LIVING MEMORY A BRAND IS A GENETIC PROGRAM BRANDS ENDOW PRODUCT WITH MEANING A BRAND IS A CONTRACT A BRAND IS AN UNWRITTEN CONTRACT IF INTRINSIC VALUE A BRAND IS AN EXPECTATION OF PERFORMANCE

WHAT DOES BRANDING REALLY MEAN ?

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A BRAND IS A COVENANT OF GOODNESS WITH ITS USERS.

A BRAND IS A PREDICTABLE

WHAT DOES BRANDING REALLY MEAN ?

A BRAND IS A UNWRITTEN WARRANTEE A BRAND IS A MARK OF INTEGRITY A BRAND IS A PRESENTATION OF CREDENTIALS A BRAND IS A MARK OF TRUST AND REDUCED RISK A BRAND IS A REPUTATION A BRAND IS A COLLECTION OF MEMORIES.

5/19/12 A BRAND CAN BE ----MUST BE---MORE THAN THE SUM OF ALL THESE PARTS.

Roles that Brands play

Consumers
Identification of the

Manufacturers
Means of identification

source of products Assignment of responsibility of product maker Risk reducer Search cost reducer Promise, bond, or pact with maker of product Symbolic device

to simplify handling or tracing Means of legally protecting unique features Signal of quality level to satisfy customers Means of endowing products with unique 5/19/12

The Key to Branding

For branding strategies to be successful, consumers

must be convinced that there are meaningful differences among brands in the product or service category.
Consumer must not think that all brands in the

category are the same.

PERCEPTION = VALUE
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GOAL OF BRANDING
q TO ESTABLISH A POWERFUL, RELEVANT IDENTITY IN

THE MINDS OF CUSTOMERS IN ORDER TO ENCOURAGE THEIR INITIAL PURCHASES AND NURTURE AN ONGOING RELATIONSHIP BETWEEN THE MARKETER AND THE END USER.

CREATING CUSTOMER LOYALTY THROUGH VALUE INNOVATION IS THE ULTIMATE OBJECTIVE AND MEANING OF BRAND.

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What is brand equity?

In a simples term Brand equity is the financial value

of the brand.
While marketers have long viewed Brand as assets,

the real asset is Brand Loyalty. A Brand is not an asset. Brand Loyalty is the asset.
Creating customer loyalty is neither strategy nor

tactic; rather, it is the ultimate objective and meaning of Brand equity.

To earn that loyalty a Brand must 5/19/12 relationship build

Day before yesterday

A brand was name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them

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Yesterday
A brand was a bundle of benefits delivered by products/services to consumers

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Today
A brand is an experience that real people enjoy (hopefully) everyday And it has a name and a personality which fits with me

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Brand + Nothing = Fiasco Sound + Sight + Smell + Taste + Touch = Brand Sound + Sight + Smell + Taste + Touch + Feeling + Emotions = Brand Brand = Product + Images
Example :

Volvo = Car + Safety Nokia = Mobile set + User friendly

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Where do you all fit in ?

(i)All of you have a name = Mr.. X or Ms.Y (ii) All of you have Distinguishable features like brand mark

(iii) All of you have trade mark ???

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What are the Various Types of brand?

Product:
The most common brand is that associated with a tangible product, such as a car or drink. This can be very specific or may indicate a range of products. In any case, there is always a unifying element that is the 'brand' being referred to in the given case.
Individual product Product brands can be very specific, indicating a single product, such as classic Coca-Cola. It can also include particular physical forms, such as Coca-cola in a traditional bottle or a can.

Product range Product brands can also be associated with a range, such as the Mercedes Sclass cars or all varieties of Colgate toothpaste.

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What are the Various Types of brand?

Person
The person brand is focused on one or a few individuals, where the branding is associated with personality. Individual A pure individual brand is based on one person, such as celebrity actor or singer. The brand can be their natural person or a carefully crafted projection. Politicians work had to project a brand that is attractive to their electorate (and also work hard to keep their skeletons firmly in the cupboard). In a similar way, rock stars who want to appear cool also are playing to a stereotype. Group Not much higher in detail than an individual is the brand of a group. In particular when this is a small group and the individuals are known, the group brand and the individual brand overlap, for example in the way that the brand of a pop group and the brand of its known members are strongly connected. Organizations can also be linked closely with the brand of an individual, for example Virgin is closely linked with Richard Branson.

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Event

Events have brands too, whether they are rock concerts, the Olympics, a space-rocket launch or a town-hall dance. Event brands are strongly connected with the experience of the people attending, for example with musical pleasure or amazement at human feats. Product, service and other brands realize the power of event brands and seek to have their brands associated with the event brands. Thus sponsorship of events is now big business as one brand tries to get leverage from the essence of the event, such as excitement and danger of car racing.
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Geography

Areas of the world also have essential qualities that are seen as characterizations, and hence also have brand. These areas can range from countries to state to cities to streets and buildings. Those who govern or represent these geographies will work hard to develop the brand. Cities, for example, may have de-facto brands of being dangerous or safe, cultural or bland, which will be used by potential tourists in their decisions to visit and by companies in their decisions on where to set up places of employment.
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What is Brand Management?

Brand Management is a total approach to managing brands that is sometimes extended, by those who understand the power of brands, to cover the whole approach to managing the company.
Creating promise Making promise Keeping promise

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Creating the promise

Creating the promise means defining the brand. A good

brand promise is memorable and desirable. It cannot be effective if nobody remembers it, and is no good either if nobody wants it! actions. Volvo offers feelings of safety. Mustang offers feelings of excitement.

A good brand promise evokes feelings, because feelings drive

The promise must be unique and identified with you alone.

Within an industry, promises can be very close, but if you want any hope of success, you must stake out the very specific territory of your promise and know clearly how it is different from the promises of other firms.
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Making the promise

Once you have created the promise, the next (and not so

trivial) step is to somehow inject it into the minds of your customers, your staff and everyone who receives anything from you or has any impact on what you deliver.

This is where marketing people come into their own.

Although it is still not their sole preserve, a large part of marketing, which includes advertising and PR, is about positioning the company and its products in the minds of customers and against your competitors.

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Keeping the promise

Creating and making the right promise is one thing, but then

you have to keep it. If you do not, you brand will still exist, but now the promise will be of slipshod products and inconsistent delivery.

Keeping promises means managing capability. It means

consistent processes that are capable of delivering what is required. It means technology and systems which are reliable and usable. It means motivated people who are willing and able to deliver the goods.

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Strategic Brand Management

Strategic brand management involves the design and implementation of marketing programs and activities to build, measure, and manage brand equity

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Strategic Brand Management

Brand Identity Brand Equity

Identity Implementation Brand Strategy Over Time Strategic Brand Analysis

Managing the Brand Portfolio Leveraging the Brand

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Strategic Brand Management

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Brand Vision Core brand value & Positioning

Brand vision What the brand should stand for in the future. Core brand values set of abstract associations that characterize a brand. A brand mantra is a short 3-5 words expression of the most important aspect of a brand and its core brand values.

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Brand Vision Core brand value & Positioning

Brand Positioning the act of designing the companys offer and image so that it occupies a distinct and values placed in the target consumers mind. The goal is to locate the brand in the minds of consumers. Competitive brand positioning creating brand superiority in the minds of consumers. Brand Positioning a specification of brand core values and brand mantra.

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Strategic Brand Management process

The strategic brand management process is defined as involving four main steps: 1) Identifying and establishing brand positioning and

values 2) Planning and implementing brand marketing programs 3) Measuring and interpreting brand performance 4) Growing and sustaining brand equity

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Strategic Brand Management process

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END OF LECTURE : 07

thank you for your attention

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