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Brand Management Lecture7

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Lecture 7 Brand Management

Lecture 7 Brand Management

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Brand Management   Lecture7 Brand Management Lecture7 Presentation Transcript

  • Brand Management Lecture 7 PT MBA – I year- Trimester III
  • Coming up today…
    • Product Life Cycle and Brand Strategy
    • Brand Product Portfolio
    • Managing Brand Extensions
  • PLC and Brands Source:”Managing Brand Equity – Donald Sexton, Columbia University, CEIBS and the arrow group
  • PLC and Brands Source:”Managing Brand Equity – Donald Sexton, Columbia University, CEIBS and the arrow group
  • Brand Product Portfolio
    • The Brand Product Matrix
    • Breadth and Depth of Branding strategy
    • Brand Hierarchy
  • Brand Product Matrix 1 2 3 …..n A B C …. Products Brands Brand Product Relationship (brand line) Product Brand Relationship (product line)
  • Brand Portfolio
    • Brand Line
      • Products within a brand (original +extensions)
      • Brand portfolio is a set of all brand lines targeted at various segments
    • Product line
      • Set of products with similar function
      • Product across brands or brand extensions
    • Branding strategy
      • Number of common and distinct brand elements to be used
      • Breadth ( in terms of brand – product relationship and brand extension strategy)
      • Depth (in terms of product-brand relationship and brand-portfolio)
  • Brand Portfolio Category Factors Threat of new entrants Bargaining power of buyers Bargaining power of sellers Current Category Rivalry Pressures from substitutes Category Capacity Environmental Factors Technological Political Economic Regulatory Social Aggregate Market Factors Market Size Market Growth Stage in PLC Sales cyclicity Seasonality Profits Breadth of a Product Mix
  • Depth of a brand
    • Different brands in the same product class
    • To pursue Multiple Market Segments
    • To increase shelf presence and retailer dependence
    • Variety to customers
    • Internal Competition
    • Economies of scale in advertising, sales, merchandising and distribution
  • Other Special Roles of brand in a portfolio
    • Tap into untapped segment
    • Serve as flanker and protect flagship brand
    • Serve as cashcow and be milked for profits
    • Low end entry level product – customer acquisition
    • High end prestige product
  • Brand Hierarchy
    • Summarizing brand strategy by usage and sharing of brand elements across brands ( MTV, VH1, Nick)
    • Kapferer’s Branding System
      • Product Brand (Ariel, tide and Dash by P and G)
      • Line brand.. Across different products (Chevrolet: GM)
      • Range Brand… (maggi food range)
      • Umbrella brand.. Across products and services (canon, HP)
      • Source brand (Garnier.. With fruit extracts) – direct named
      • Endorsing brand
    • Other Way of classifying
      • Corporate brand (GM)
      • Family Brand (Chevrolet)
      • Individual Brand (optra)
      • Modifier (GLX)
  • Brand Extensions
    • Ansoff’s Growth Share matrix
    Diversification Market Development Product Development Market Penetration New Products Current Products New Markets Current Markets
  • New product branding choices
    • Develop a new brand, individually chosen for the product
    • Apply, in some way, an existing brand
    • Combination of the above
    • Brand Extension ( 2 and 3 above)
      • Line extension (same product category as the parent brand)
      • Category extension (new product category vs. the current parent brand)
  • Types of extensions - Ed Tauber
    • Same product new form
    • Products with same taste, ingredient or component
    • Companion products –(eveready flashlight and cells)
    • Products relevant to the customer franchise of the brand
    • Capitalize on firms expertise – dupont, canon, Honda lawn mowers
    • Brands distinctive benefits
    • Distinct imagery of the brand – Ferrari accessories
  • Advantages of extensions
    • Advantages
      • Facilitate new product acceptance
        • Improve brand image
        • Reduce risk perceived by customers
        • Increase the probability of gaining distribution and trial
        • Reduce costs of introduction and followup marketing
        • Avoid cost of developing a new brand
        • Packaging and labelling efficiency
        • Permit consumer variety seeking
      • Feedback benefits to parent brand and company
        • Clarify brand meaning
        • Enhance the parent brand
        • New customers into the brand franchise
        • Revitalize the brand
  • Disadvantages of Brand Extension
    • Can confuse or frustrate customers
    • Retailer resistance
    • Failure and hurt to parent Brand Image
    • Success and hurt to parent brand image
    • Cannibalization of parent brand
    • Diminish identity with any one category
    • Dilute brand meaning
    • Can cause the company to forego a further chance to develop a new brand