BRANDMANAGEMENTUnlocking the Value of your Brand
ARE YOU UNLOCKING THE VALUE OF YOUR BRAND?A strong brand is the most valuableasset of many successful companies.Brands are assets because, whenproperly managed, they provide asecure stream of income for thebusiness.
BRAND MANAGEMENT is the application of marketing techniques to a specific product, product line, or brand it seeks to increase the products perceived value to the customer and thereby increase brand franchise and brand equity.
THE BRAND AS AN IMPLIEDPROMISEA brand becomes an impliedpromise that the level of qualitypeople have come to expect froma brand will continue with presentand future purchases of the sameproduct
QUALITIES OF A GOOD BRAND It must be legally protectable It must be easy to pronounce It must be easy to remember It must be easy to recognize It should attract attention It may suggest product benefits or suggest product usage It may suggest the company or product image It may distinguish the products positioning relative to the competition
CLASSROOM ACTIVITYImagine yourself walking through theaisles of your favorite supermarket.List down the five (5) brands that youremember and relate them to anyone of the characteristics of a goodbrand.
“BRANDED BRANDS”CO-BRANDINGa form of cooperationbetween two or morebrands with significantcustomer recognition, inwhich all theparticipants’ brandnames are retained.
“BRANDED BRANDS”Onboard perks offered by United Airlines include StarbucksCoffee, Mrs. Fields Cookies and even a McDonald’s ‘Friendly Skies Meal’, including the ubiquitous promo-toy.
“BRANDED BRANDS”When you check into your Westin Hotel, expect the beauty products to come from premium brand Aveda. Le Meridien adds to its appeal with luxurious Hermes toiletries.The Radisson Hotels & Resorts offers the most exciting dining experience at their on-site T.G.I. Fridays Restaurants.
BRAND MANAGEMENT Filipino Restaurant Names Ali Baka (Shawarma) Anita Bakery Aristoback (Resto behind Aristocrat) Bali Gulp (Drinking Place beside Valley Golf) Crispy per Minute (Crispy Pata Eatery) Caintacky Fried Chicken (Resto in Cainta) Mercy Buko (Fresh Coconut Roadside Shop) Cooking ng Ina Mo (Carinderia in Boni Avenue) Cooking ng Ina Mo Rin (A competitor)
Do you think these names are funny? Maybe . . . But as a future entrepreneur, do you honestly think you will be able to build an empire of 100 branches of “Cooking ng Ina Mo”?
ASSIGNMENTDefine the following marketing terms related to brand management. (Due next mtg.) 1. Brand Awareness 2. Top-of-Mind Awareness 3. Brand Association / Brand image 4. Brand Preference 5. Brand Loyalty