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Branding

Branding

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  • 1. Branding
  • 2. What is Brand Equity?
    • “ Brand equity is a set of assets (and liabilities) linked to a brand’s name that adds to (or subtracts from ) the value provided by a product or service to a firm and/or that firms customers.”
      • Aaker, Building Strong Brands
  • 3. Asset Categories for Brand Equity
    • Brand name awareness
    • Brand loyalty
    • Perceived quality
    • Brand associations
      • strong, favorable, unique
  • 4. Brand Name Awareness
    • Familiarity leads to liking
      • Colas, peanut butter
    • Dominant presence  “everybody is buying so must be good”
      • Nutrasweet, Intel
    • Recall at time of purchase
      • Kleenex, Clorox, Band-Aid, Crayola
    • Durable
      • Datsun
  • 5. Brand Loyalty
    • Results in Lower Marketing Cost
      • Lexus  does not expend so much bc of loyalty
    • Entry Barrier
      • Dell, Intel, Tide
    • Trade Leverage
      • Cheerios, Kraft Cheese
  • 6. Perceived Quality
    • Higher quality leads to Higher price, higher ROI
    • Signal quality
      • Tomato Juice – thickness
      • Lemon scent – strong cleaner
      • Fit and finish – inference of quality on unobserved attributes  Lexus, tolerances are good, so overall quality should be good
  • 7. Brand Associations
      • Attribute associations
        • Crest, Volvo =safety , BMW =performance ,
      • Emotional Benefit
        • Hallmark =Warmth; Nike = Energetic; Evian= Healthy
      • Self Expressive
        • Gap=Hip; Mercedes= Successful; WalMart =Unpretentious, but smart
      • NesCafe problem: positive blind taste, but no sales, perception of bad taste  personality research: assoc. w/ lazy buyers
  • 8. Brand Associations (Continued)
      • Easy Recall and Key Association
        • Logos/Symbols
          • Distinct writing - Coke, Dunhill, Kit-Kat
          • Abstract Logos - Nike’s Swoosh, Mercedes Star
        • Characters
          • Joe Isuzu, Energizer Bunny, Marlboro Cowboy, Maytag Repairman
        • Slogans
          • My Doctor Said Mylanta
          • Nothing Runs Like A Deere
          • A Diamond is Forever
        • Jingles
          • Be All That You Can Be
          • Intel Inside
  • 9. Brand Essence or Mantra
    • Heart and Soul of the Brand
    • Internal Branding
      • Nike: “Authentic Athletic Performance”
      • Disney: “Fun Family Entertainment”
    •  two to three words
  • 10. Branding Issues Legal (Keller, 2002)
    • Trademark:
      • Generics and no longer valid
        • Vaseline, Cellophane, Escalator, Thermos, Aspirin
      • Struggling to retain trademark
        • Band Aids, Kleenex, Scotch Tape, Q-Tips, Xerox
  • 11. Trademark Hierarchy (Keller, 2002)
    • Fanciful (Kodak, Yahoo!, Lycos)
    • Arbitrary (Camel)
    • Suggestive (Eveready)
    • Descriptive (Ivory)
    • Generic (Aspirin)
      • 5 is more difficult to protect
      • Trademark – Adjective not a noun, verb or plural
  • 12. Rebranding
    • Acura – Legend, Vigor, Integra bc were not viewed as premium, acura got lost
    • Sub-brands were less ‘luxurious’
    • Switch to TL, RL, NSX, but less protective
    • Drive Acura not a Legend
    • Consistent with Category Leaders: Mercedes “5-series”=umbrella brand, BMW
  • 13. Tylenol Response Exterior factors can damage your brand
  • 14. Brand Extensions - Advantages
    • Facilitate new product acceptance
      • reduce perceived risk by customer
      • increase chances of gaining distribution
      • lower marketing cost
    • Enhance parent brand
      • improve / revitalize image
      • new customers, increased coverage
  • 15. Successful Brand Extensions
    • Vaseline Intensive Care lotion
    • Jello Pudding Pops
    • Bic lighters
    • Aunt Jemima syrup
    • Colgate toothbrush
  • 16. Unsuccessful Brand Extensions
    • Country time Apple Cider
    • Kleenex diapers
    • Clorox detergent
    • Bic Perfume
  • 17. Brand Valuation: Interbarand 2001
    • #1. Coke: $68.9 bn
    • #2. Microsoft: $65.1bn
    • #3. IBM: $52.7bn
    • #4. GE: $42.4bn
    • #5. Nokia: $40.2bn
    • #6. Intel: $34.7bn