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Lecture 2    Brand  Management
 

Lecture 2 Brand Management

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    Lecture 2    Brand  Management Lecture 2 Brand Management Presentation Transcript

    • Brand Management PT MBA – Trimester III – Year 1 Lecture 2
    • Coming up…
      • Little more about “Brands”
      • Brand v/s Products
      • Need/ role of Brands
      • Strategic Brand Management – an Introduction
      • Customer-based Brand Equity
      Ref: Strategic Brand Mgmt. – Kevin Kelly
    • Brands
      • Brandr – “to burn”
      • AMA definition – Name, term, sign, symbol, design or a combination of them….identify…. Differentiate from competition
      Pears soap was the first registered brand as per Unilever JWT first introduced trademark advertising in 1900 through a house advert Awareness, Reputation, Prominence in market Careful selection of brand elements
    • Brand v/s products
      • Kotler’s definition
      • Core Benefit
      • Generic Product
      • Expected Product
      • Augmented Product
      • Potential Product
      • Brand:
      • Product
      • +or- perceived
      • differentiator
          • Rational & Tangible
          • Performance based
          • Symbolic, emotional
      Brand = Product + customer perception +performance + brand name + company Ref: Strategic Brand Mgmt. – Kevin Kelly
    • Role of brands – for Customers
      • Identification of source of product
      • Assignment of responsibility to the product maker
      • Risk reducer
      • Search cost reduces
      • Promise, bond, with maker of product (KF airlines)
      • Symbolic device
      • Signal of quality (arrow shirts)
      Ref: Strategic Brand Mgmt. – Kevin Kelly
    • Role for Manufacturer
      • Identification for handling
      • Patenting – Legal IPR protection etc
      • Signal of quality level – price ranges
      • Endowing products with unique associations
      • Competitive edge
      • Financial returns
      Ref: Strategic Brand Mgmt. – Kevin Kelly
    • 3 important questions How can Brand Equity be created? Ref: Strategic Brand Mgmt. – Kevin Kelly How can Brand Equity be measured? How can Brand Equity be used to expand Business opportunities?
    • Strategic Brand Management
      • Design and implementation of Mktg. programs to build, measure and manage brand equity
      Identify and Establish Brand Positioning and Values Plan and implement Brand Marketing Programs Measure and Interpret Brand Performance Grow and sustain Brand Equity
      • Mental Maps
      • Competitive frame of reference
      • Points of parity and Points of difference
      • Core brand Values
      • Brand Mantra
      • Mixing and matching of brand elements
      • Integrated brand marketing activities
      • Leverage of secondary association
      Ref: Strategic Brand Mgmt. – Kevin Kelly
    • Strategic Brand Management
      • Brand-product mix
      • Brand Portfolios and hierarchies
      • Brand expansion Strategies
      • Brand reinforcement and revitalization
      Identify and Establish Brand Positioning and Values Plan and implement Brand Marketing Programs Measure and Interpret Brand Performance Grow and sustain Brand Equity
      • Brand Value chain
      • Brand audits
      • Brand Tracking
      • Brand Equity Management System
      Ref: Strategic Brand Mgmt. – Kevin Kelly
    • Building Customer-Based Brand Equity 1. Brand building tools and objectives 2. Consumer knowledge effects 3. Branding Benefits Ref: Strategic Brand Mgmt. – Kevin Kelly
    • 1. Brand building tools and objectives
      • Choose Brand Elements
      • Brand name
      • Logo
      • Symbol
      • Character
      • Packaging
      • Slogan
        • Memorability
        • Meaningfulness
        • Likability
        • Transferability
        • Adaptability
        • Protectability
      Ref: Strategic Brand Mgmt. – Kevin Kelly
    • 1. Brand building tools and objectives
      • Developing Marketing Programs
      Product Price Distribution Channels Communications
        • Tangible and intangible
        • benefits
        • Value Perceptions
        • Integrate “Push” & “ Pull”
        • Mix and match options
      Ref: Strategic Brand Mgmt. – Kevin Kelly
    • 1. Brand building tools and objectives
      • Leverage on secondary associations
      Company Country of origin Channels of Dist. Other Brands Endorsor Event
        • Awareness
        • Meaningfulness
        • Transferability
      Ref: Strategic Brand Mgmt. – Kevin Kelly
    • Consumer Knowledge Effects
      • Brand Awareness
        • Depth
          • Recall
          • Recognition
        • Breadth
          • Purchase
          • Consumption
      • Brand Associations
        • Strong
          • Relevance
          • Consistence
        • Favourable
          • Desirable
          • Deliverable
        • Unique
          • Points of parity
          • Points of difference
    • 3. Possible outcomes
      • Greater Loyalty
      • Less vulnerability to competitive marketing actions and crises
      • Larger Margins
      • More elastic response to price decreases
      • More inelastic response to price increases
      • Greater trade cooperation and support
      • Increased marketing communication efficiency and effectiveness
      • Possible Licensing opportunities
      • More favourable brand extension evaluations
    • Measuring Customer-based Brand Equity
      • Brand Audit
        • Brand Inventory
        • Brand Exploratory
      • Brand Value Chain
        • Brand equity sources
        • Brand equity outcomes
      • Brand equity management system
        • Brand Equity Charter
        • Brand Equity Report
        • Brand Equity Responsibilities
    • Managing Customer Brand Equity
      • Define Brand hierarchy
        • Principle of Simplicity
        • Principle of relevance
        • Principle of differentiation
        • Principle of prominence
        • Principle of commonality
      • 2. Define Brand- Product mix
        • Brand extensions
        • Brand Portfolio
      • 3. Enhance Brand Equity over time
        • Brand Reinforcements
        • Brand revitalization
      • 4. Establish B.E. over
      • market segments
        • Identify differences in consumer behavior
        • Adjust Branding program