brand management
BRAND MANAGEMENT WEEK 1 What is a brand? “A brand is a name, term, sign, symbol or design which is intended to identify the goods/services of one seller or group of sellers and to differentiate them from those competitors.” (American Marketing Association) • • • • • •
A means of IDENTIFICATION Brands differentiate from one another SHORTHAND DEVICE Highlight meaning to consumer Recognition of particular brand Easier purchase decision RISK REDUCER Positive perception Confidence in purchase IMAGE Based on one’s view to form an opinion VALUE SYSTEM/PERSONALITY Purchases that reflect a particular image of consumers Symbolic meaning ADDED-VALUE Additional elements that a brand offers to consumers
Brand elements • • •
Name Logo Symbols
• • •
• •
Characters Spokespeople Slogan
Jingle Packages
Brand vs. product A product is anything we can offer to a market for attention, acquisition, use or consumption that might satisfy a need or want A brand is more than a product as it can have dimensions that differentiate it in some way from other products designed to satisfy the same consumer need For example: Mount franklin vs. evian water Each brand focus on more on non-related aspects The goal to try to create appealing images surrounding the products Consumers don’t buy products, they buy images associated with products Brand is something that resides in the mind of a consumer Brand have differentiating features that distinguish them from competitors and add value for consumers Brand can have dimensions that differentiate it in some way from other products designed to satisfy the same need What can be branded? ANYTHING!! • Commodities • Physical goods • Retailers and distributors • Online products and services • People and organization
• • •
Sports, art and entertainment Geographical locations Ideas and causes
4 stages in strategic brand management process 1. 2. 3. 4.
Identify and establish brand positioning and values Plan and implement brand marketing programs Measure and interpret brand performance Grow and sustain brand equity
What are the strongest brands? And why? For example: Apple, Google, Microsoft, IBM…and so on These brands are STRONG because they build something called BRAND EQUITY Brand equity • Branding is about endowing products and services with the power of brand equity o Marketing effects uniquely attributed to a brand • Branding is about creating differences Customer-based brand equity occurs when the consumer has high level of awareness and familiarity with the brand and holds some strong, favourable, and unique brand associations in memory.
A means of IDENTIFICATION Brands differentiate from one another SHORTHAND DEVICE Highlight meaning to consumer Recognition of particular brand Easier purchase decision RISK REDUCER Positive perception Confidence in purchase IMAGE Based on one’s view to form an opinion VALUE SYSTEM/PERSONALITY Purchases that reflect a particular image of consumers Symbolic meaning ADDED-VALUE Additional elements that a brand offers to consumers
Brand elements • • •
Name Logo Symbols
• • •
• •
Characters Spokespeople Slogan
Jingle Packages
Brand vs. product A product is anything we can offer to a market for attention, acquisition, use or consumption that might satisfy a need or want A brand is more than a product as it can have dimensions that differentiate it in some way from other products designed to satisfy the same consumer need For example: Mount franklin vs. evian water Each brand focus on more on non-related aspects The goal to try to create appealing images surrounding the products Consumers don’t buy products, they buy images associated with products Brand is something that resides in the mind of a consumer Brand have differentiating features that distinguish them from competitors and add value for consumers Brand can have dimensions that differentiate it in some way from other products designed to satisfy the same need What can be branded? ANYTHING!! • Commodities • Physical goods • Retailers and distributors • Online products and services • People and organization
• • •
Sports, art and entertainment Geographical locations Ideas and causes
4 stages in strategic brand management process 1. 2. 3. 4.
Identify and establish brand positioning and values Plan and implement brand marketing programs Measure and interpret brand performance Grow and sustain brand equity
What are the strongest brands? And why? For example: Apple, Google, Microsoft, IBM…and so on These brands are STRONG because they build something called BRAND EQUITY Brand equity • Branding is about endowing products and services with the power of brand equity o Marketing effects uniquely attributed to a brand • Branding is about creating differences Customer-based brand equity occurs when the consumer has high level of awareness and familiarity with the brand and holds some strong, favourable, and unique brand associations in memory.
