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Branding strategy

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  • 1. Branding StrategyStrategy OptionsIndividual Brandsno connectionsBlanket Brandshelp pull new products through channelSeparate Family Brandssimilar manufacturing but not marketingdoes not tie all products together
  • 2. Branding StrategyStrategy Options (cont.)Brand ExtensionBrand X, new and improved, with additives, new package size, newflavor…..Multibrand (proliferation)increase shelf space and market sharecatch brand switchersreach new segments
  • 3. Branding StrategyStrategy Options (cont.)Brand Repositioningmove to a better segmentcompetition increased in current segmentcustomer preference changednew segment opened up
  • 4. Branding StrategyDeveloping a Brand Nameshould suggest product benefit or qualityeasy to spell, remember, pronouncedistinctiveno negative connotationsno legal restrictionscannot be immoral, deceptive, scandalous
  • 5. Steps to building a brand• Creation of strategic brand platform• Program driven approach with committedinvestments• Clear positioning and product quality in allmarkets• Clear roadmap on R&D to improve brandvalue• Global marketing organization• Implement performance measure
  • 6. Major brand buildingcomponentsAdvertising -EventsCustomerReferralsAwardsRecognitionPRInfluencersProduct StrategyUser Forums
  • 7. What defines an effective brand?The “5 Cs” of effective branding:1. clear in its positioning - where we will compete2. compelling to internal and external stakeholders - through itsrelevance (how we will compete)3. credible and is aligned to the brand’s core competencies - ensuresdelivery4. consistent in its execution - delivered through all touch points -physical and non physical5. cohesive - it serves to bond all stakeholders around a shared visionthat is aligned to the company’s mission - it is actively owned
  • 8. Brand-Product Matrix:Relationships Diagramed• Brand line - all products sold under a brand• Brand portfolio -set of all brands and brand linesa company offers in a product category; used tomaximize equity (BR, Gap, ON)• Product line - products similar in price, TA, ordistribution• Product mix - all product lines• Brand mix - all brand lines
  • 9. Breadth of Branding Strategy:Product Mix• Aggregate market factors - size, growth,stage, profits• Category factors - competition, bargainingpower of buyers & suppliers• Environmental factors - technological,economic, political, social
  • 10. Depth of Branding StrategyMultiple brands are used to pursue multiplemarket segmentsSegment Ford brandLuxury (MB, Lexis) Jaguar, LRoverUp-market (BMW,Cad) Volvo, Lincoln,Astin MartinMid-price (HTN, GM, Ford, Mercury,Chrysler) Mazda
  • 11. Depth Tactics• Flankers - to create stronger POP withcompetition so flagship brand keeps desiredposition (Philip Morris’ use of discountBasic to protect Marlboro hi $)• Cash cow - milked till dead (Trac II)• Low end entry or hi end prestige - subbrands used to leverage on basis of price orquality (BMW Z3, 700 series)
  • 12. Brand Hierarchy• Corporate - GM• Family - Buick• Individual - Park Avenue• Modifier (model) - Ultra
  • 13. Branding System• Product brand - individual positioning (P&Gs Ariel,Tide, Dash detergents)• Line brand - cross branding (Renault)• Range brand - one name for a group (Green Giantvegetables)• Umbrella brand - one brand for products in many markets(Canon copiers, cameras, equipment)• Source brand - family with different names (Calvin Klineperfume, clothing lines)• Endorsing brand - diverse products & brands (GeneralMotors cars)
  • 14. EquityCorporate level image determinants1. Common product attributes, benefits(Quality, innovation)2. People and relationships (customerorientation)3. Values and programs (social resp)4. Corporate credibility (expertise, trust,likeability)
  • 15. Designing branding strategyCorporate dominantcorporate brands (Kellogg)house brands (Frosted FlakesMixed brandsduel brands (equal prominence)endorsed brands (Chevy Blazer)Brand dominantmono brand (Absolute)furtive brand (identity secret; Turning Leaf)
  • 16. Corporate/ProductRelationships1. Single entity: Federal Express2. Brand dominance: Marlboro (PM)3. Equal dominance: Nissan Maxima4. Mixed dominance: Bosch/ Blaupunikt5. Corporate dominance: XeroxAcura - from equal (Acura Legend) tocorporate dominance (Acura 3.5RL)
  • 17. Naming choice for new products1. New brand name2. Apply existing brand name (TracIII)3. Combination of new with existing brandname (brand extension)• line extension - new flavor, Absolutecitron• category extension - Swiss Armyluggage
  • 18. Expanding meaning with brandextensionsbrand product extension meaningCrayola crayons paint, clay kid craftSwiss Army knife luggage adventureMont Blanc pens watches luxuryBillabong surfboard snow & all sportsskate boards
  • 19. Master brandsOwning an association in the consumer’s mind: Band-Aid,Alka-Seltzer, Jell-O, Crayola, VaselineDifficult to extend directly to other product categories.Directions for leveraging master brands are:1. Sub-branding to give new element (DuPont Stainmastercarpet)2. Super-branding adds improved element (EverreadyEnergizer batteries)3. Brand bundling fortifies master w/co-branding4. Brand bridging to new category
  • 20. Advantages of Strong Brands• Improved perceptionsof productperformance• Greater loyalty• Less vulnerability tocompetitivemarketing actions• Less vulnerability tocrises• Larger margins• More inelastic consumerresponse• Greater trade cooperation• Increased marketingcommunicationseffectiveness• Possible licensingopportunities
  • 21. A Continuum of BrandFamiliarityBrandNon recognitionBrandinsistenceBrand Brand BrandBrandrecognition acceptance preferenceinsistence
  • 22. Packaging• Includes the activities of designing andproducing the container for a product• Packaging is done at three levels- primary- secondary- shipping
  • 23. Packaging as a marketing tool• Self service• Consumer affluence• Company and brand image• innovation
  • 24. Designing packaging• Packaging concepts• Technical specifications• Engineering tests• Visual tests• Dealer tests• Consumer tests• Packaging innovations• Environmental considerations
  • 25. Labels• Identification• Grade classification• Description of product• Manufacturer identity• Date of mfg., batch no.• Instructions for use• Promotion
  • 26. Labels as a marketing tool• Labels need to change with time orpackaging changes to give it acontemporary and fresh look
  • 27. Packaging and LabelingSecondary PackagePrimaryPackageShippingPackagePackagingAspects
  • 28. Packaging and Labeling• Developing an effective package:– Determine the packaging concept– Determine key package elements– Testing:• Engineering tests• Visual tests• Dealer tests• Consumer tests
  • 29. Packaging and LabelingMay Promote the ProductFunctions of LabelingMay Describe the ProductMay Identify Product GradeIdentifies the Product or Brand