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  • Roles That Brands Play

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    Mark K. Eapen
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    The document discusses the roles and advantages that brands play for both consumers and firms. For consumers, brands can help reduce risk, search costs, and act as a promise or pact with the producer. For firms, brands allow for legal protection, signal quality to customers, and provide a source of competitive advantage. However, brands also face challenges such as media fragmentation, increased competition, savvy customers, and greater accountability. The document then discusses different types of brands such as manufacturer, private label, and individual brands. It also covers factors to consider when selecting a brand name and evaluates the world's most valuable brands in 2003.

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    The document discusses the roles and advantages that brands play for both consumers and firms. For consumers, brands can help reduce risk, search costs, and act as a promise or pact with the producer. For firms, brands allow for legal protection, signal quality to customers, and provide a source of competitive advantage. However, brands also face challenges such as media fragmentation, increased competition, savvy customers, and greater accountability. The document then discusses different types of brands such as manufacturer, private label, and individual brands. It also covers factors to consider when selecting a brand name and evaluates the world's most valuable brands in 2003.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    10 views18 pages

    Roles That Brands Play

    Uploaded by

    Mark K. Eapen
    The document discusses the roles and advantages that brands play for both consumers and firms. For consumers, brands can help reduce risk, search costs, and act as a promise or pact with the producer. For firms, brands allow for legal protection, signal quality to customers, and provide a source of competitive advantage. However, brands also face challenges such as media fragmentation, increased competition, savvy customers, and greater accountability. The document then discusses different types of brands such as manufacturer, private label, and individual brands. It also covers factors to consider when selecting a brand name and evaluates the world's most valuable brands in 2003.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
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    of 18

    ROLES THAT BRANDS PLAY

    Advantages for Consumers


    • Identification of source
    of product
    • Risk reducer
    • Search cost reducer
    • Promise, bond or pact
    with maker of product
    • Symbolic device
    • Signal of quality (based
    on type of goods)
    ROLES THAT
    BRANDS PLAY

    Advantages for Firms


    • Means of identification
    • Legal protection for the invention
    • Signal of quality level to satisfied customers
    • Means of endowing products with unique
    associations
    • Source of competitive advantage
    • Source of financial returns
    Challenges in
    branding

    • Media fragmentation
    • Increased competition
    – Brand extensions
    – Deregulation
    – Globalisation
    – Low-priced competition
    • Savvy customers
    • Brand proliferation
    • Increased costs
    • Greater accountability
    Types of Brands

    Manufacturer Brand:
    They are created by producers and bear their chosen
    brand name. The responsibility for marketing the
    brand lies with the producer, most manufacturer
    brands are supported by massive advertising budget.
    They also maintain a long distribution network to
    reach the consumers.
    Own label, Private label ,Store Brand

    They are the retailer brand


    Family brand
    Ingredient brand
    Individual brand name
    Brand development process
    Differentiation/positioning

    Brand essence

    Brand elements

    Promotion
    Factors to consider when selecting a brand
    name
    – Legally protectable
    – Avoid negative connotations
    – Short, distinctive, easy to pronounce
    – Suggestive of product benefits
    – Should reflect desired product image

    Brand Characteristics
    Brand conveys ……
    • Attributes
    • Benefits
    • Values
    • Culture
    • Personality
    • User
    If it recognizes all the
    six dimensions then
    the brand is “deep” or
    it is “shallow”
    World’s Most Valuable Brands
    2003 Value Country of
    2003 Rank Brand
    ($billions) Origin
    1 Coca-Cola 70.45 USA
    2 Microsoft 65.17 USA
    3 IBM 51.77 USA
    4 GE 42.34 USA
    5 Intel 31.11 USA
    6 Nokia 29.44 Finland
    7 Disney 28.04 USA
    8 McDonald's 24.7 USA
    9 Marlboro 22.18 USA
    10 Mercedes 21.37 Germand
    Source: Interbrand; based on expected profit stream of products carrying the brand name
    Branding decision or
    strategies
    • Brand or not to brand?
    • Brand sponsor decision
    • Brand name decision
    • Brand strategy decision
    • Brand repositioning decision
    Marketplace value of a brand based on
    reputation and goodwill

    Brand equity
    Customer Based Brand Equity Pyramid

    4. Relationships
    (What about you & me?)
    Resonance

    3.Response
    (What about you?)
    Judgments Feelings

    2. Meaning
    Performance Imagery (What are you?)

    1. Identity
    Salience
    (Who are you?)

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