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Brand Management

GOPIKA KUMAR

Introduction

What is a Brand?
Evolution The word "brand" is derived from the Old Norse brandr meaning "to burn." It refers to the practice of producers burning their mark (or brand) onto their products.

Brand v/s Product


Product Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or a need.

It includes physical objects, services, events, persons, place, organizations or ideas

What is a Brand
A brand is a "Name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers."[

Why do Brands matter?

Can Everything be Branded?


Physical Goods Services Online Products and Services People and Organisations Sports, Arts and Entertainment Geographic Locations Ideas and Causes

AURA

PHYSICAL OBJECT

Brand Transformation Process

Products

Physical Level

Symbolic Level

Coke

Carbonated Water

American

Nescafe

Coffee

Morning

Marlboro

Cigarette

Fierce Independence Rugged Individuality

Rolex

Watch

VIDEO CLIP 1
WHAT IS BRANDING.FLV

Leading Brands of Today


Apple 2. Google 3. BMW 4. Toyota 5. Amazon 6. Walmart 7. Honda 8. Mecedes 9. Sony 10. Volkswagen
1.

VIDEO CLIP 2
BRANDZ TOP 100 MOST VALUABLE GLOBAL BRANDS 2011.FLV

THE BRAND EQUITY CONCEPT

What is Brand Equity?


Brand equity is a phrase used in the marketing industry to try to describe the value of having a wellknown brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well-known name is better than products with less well known names. Another word for "brand equity" is "brand value".

What is Brand Equity?


Brand equity consists of differential attributes underpinning a brand which gives increased value to the firms balance sheet.(Chernatony and Mc Donald) Brand equity is defined in terms of marketing effects uniquely attributable to the brandsfor example when certain outcomes result from the marketing of a product or service because of its brand name that would not occur if the same product or service did not have the name.(Keller 1993)

Conceptualising Brand Equity Brand Equity Input Output Model Input (Product and Attributes)
Consumers Perception/Image /Knowledge or Perception

Output (Brand Equity)

Benefits of Brand Equity


Customers
Brand allow customers to store

Marketers
The effcetivenss of marketing

great quantities of information about brands without getting confused Enhances customer confidence in the purchase buying a brand Brands transform customer experience in the form of usage satisfaction

programme is increased by brand equity,the expenditure involved is lesser. Firms can have a greater customer loyalty Brand equity allows a firm to charge a premium Great opportunities of growth, brand extensions. Leverage in distribution channels Brand Equity is a provider of competitive advantage,imposes barriers to entry to competition.

Brand Equity: Sources: Customer Based Brand Equity


CBBE The Differential effect that brand knowledge has on consumer response to the marketing of that brand The three ingredients are: 1. Diffeerntial Effect 2. Brand Knowledge 3. Consumer Response to marketing

Making a Strong Brand: Brand Knowledge


Associative Network Memory Model views memory as consisting of a network of nodes and connectors. So Brand Knowledge has two components: Sources of Brand Equity Brand Awareness Brand Image

Making a Strong Brand: Brand Knowledge


Sources of Brand Equity Brand Awareness Brand Awareness consists of brand recognition and brand recall performance Brand Recognition: Consumers ability to confirm proior exposure to the brand Brand Recall: Consumers ability to retrieve the brand from memory when given the product category Advantages of Brand Awareness: Learning Advantages Consideration Advantages Choice Advantages

Making a Strong Brand: Brand Knowledge


Sources of Brand Equity Brand Image Creating a positive brand image takes marketing programs that link strong, favorable and unique associations to the brand in memory: Thus elements of brand image are: Favorability Strength Uniqueness

Strategic brand management process

Identify and Establish Brand Positioning and Values Plan and Implement Brand Marketing Programs Measure and Interpret Brand Performance

Mental Maps Competitive Frame of Reference Core Brand Associations Brand Mantra
Mixing and Matching of Brand Elements Integrating Brand Marketing Activities Leveraging Secondary Association Brand Value Chain Brand audits Brand Tracking Brand Equity Management System Brand Product Matrix Brand Portfolios and Hierarchies Brand Expansion Strategies Brand Reinforcement and Revitalization

Grow and Sustain Brand Equity

Strategic brand management process

Unit-2
BUILDING BRAND EQUITYPLANNING AND IMPLEMENTING BRAND MARKETING PROGRAMS1.CHOOSING BRAND ELEMENTS TO BUILD BRAND EQUITY

Criteria for Choosing Brand Elements


Brand Elements

Criteria for Choosing Brand Elements


Criteria: 1. Memorabiltiy: 2. Meaningfulness 3. Likability 4. Transferability 5. Adaptability 6. Protectabiltiy

Options and Tactics for Brand Elements


Brand Names

Brand Awareness
Brand Associations

2..Designing Marketing Programs to Build Brand Equity

Designing Marketing Programs to Build Brand Equity


Integrating Marketing Programs and Activities: Personalizing Marketing Experiential Marketing One to One Marketing Permission Marketing

Designing Marketing Programs to Build Brand Equity


Integrating Marketing Programs and Activities: Reconciling the New Marketing Approaches Product Strategy: Perceived Quality and Value Relationship Marketing Mass Customisation

Designing Marketing Programs to Build Brand Equity


Integrating Marketing Programs and Activities: Reconciling the New Marketing Approaches Pricing Strategy: Consumer Price Perceptions Setting Prices to Build Brand Equity

Designing Marketing Programs to Build Brand Equity


Integrating Marketing Programs and Activities: Reconciling the New Marketing Approaches Channel Strategy: Channel Design Indirect Channels Direct Channels Web Startegies

3.Integrating Marketing Communications to build brand Equity

Leveraging Secondary Brand Associations to Build Brand Equity


What are Secondary Brand Knowledge Associations? 1. Companies(through branding strategies) 2. Countries(Through identification of product origin) 3. Channels(through channel strategy) 4. Other Brands(through co branding) 5. Characters(through licensing) 6. Spokespersons(through endorsements) 7. Events(through sponsorship) 8. Other third Party sources(through awards or reviews)

4.Developing a Brand Equity Measurement and Management System

Measurement of Brand Equity


A Brand Equity Measurement System A set of research proceduresdesigned to provide marketers with timely, accurate and actionable information on brands so they can make the best possible tactical decisions in the short run and startegic decisions in the long run. The goal is to achieve a full understanding of the sources and outcomes of brand equity and to be able to relate the two as much as possible.

Unit -3
MANAGING BRAND EQUITY-GROWING AND SUSTAINING BRAND EQUITY

Designing and Implementing Branding Strategies


Brand Architecture Branding Startegy or Brand Architecture, for a firm tells marketers which brand names,logos,symbols and so forth to apply to which new and existing products Brand Product Matrix Brand Hierarchy