Brand building
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Brand building

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Brand building Brand building Presentation Transcript

  • Brand Building
  • What is Brand building? Involves all the activities that are necessary to nurture a brand into a healthy cash flow stream for the company after launch
  • Advertising does a lot to help build brands
    • Every ad contributes to make the brand what it is in the minds of the consumer – David Ogilvy
    • A company’s brand is the primary source of its competitive advantage and is a very valuable strategic asset – David Aaker
  • Brand Equity
    • When a commodity becomes a brand, it is said to have ‘equity’. It starts with a name and can go up or down depending on the marketing activity that is done by the marketer. A name becomes a brand when consumers associate it with a set of tangible and intangible benefits that they obtain from the product or service.
  • How to measure equity?
    • The premium a brand can command in the market
    • The difference between the intrinsic and perceived value of the product
  • Building Brand Equity
    • Distinguish product from others in the market – Value proposition
    • Align what it says about the brand in advertising with what it actually delivers – Creating the brand
  • Power Brands
    • Generates enormous profits
    • Expands future strategic opportunities
  • What do power brands have that others don’t?
    • A distinctive product
    • Delivering brand promise
    • Personality and presence
  • Personality
    • Emotional bond with the customer
    • Generates relationships measurably stronger than ordinary brands
  • Presence
    • Seem to be present everywhere, enforcing distinctiveness
    • National/international scale
    • Successful brand extensions
    • Multiple concept and channels
  • Brand managers of market-savvy companies need
    • Superior insight into customer needs
    • Ability to devise product/services that powerfully meet those needs
    • Agility to redefine its offering as those needs change
    • Creativity to produce exciting and compelling advertising
  • Tangibles of brand equity
    • Shape
    • Colour
    • Size
    • Models
    • Price
    • Features
    • Benefits
    • Grades
  • Intangibles of brand equity
    • Company name
    • Brand name
    • Slogan and its underlying associations
    • Perceived quality
    • Brand awareness
    • Customer base
    • Trademarks and patents
    • Channel relationships
    • Customer loyalty
    • Customer confidence
    • Competitive advantage
  • Value Proposition
    • Broad positioning
    • Specific positioning
    • Value positioning
  • Creating the brand
    • Choosing brand name
    • Developing rich associations and promises
    • Manage customer brand contacts to meet and exceed customer expectations
  • Porter’s strategic choices
    • Product differentiator
    • Low cost leader
    • ‘ Nicher’
  • Positioning guards
    • Should not be overpositioned
    • Should not be underpositioned
    • Should not be ambiguous
    • Should not promise irrelevant benefits
    • Promise should be credible
  • Choosing a brand name
    • What does it mean?
    • What performance/ expectations/ associations does it evoke?
    • What degree of preference does it create?
  • Brand names should denote
    • Product benefits
    • Product quality
    • Be easy to pronounce/remember/recognise
    • Be distinctive
    • Not have poor meanings in other countries or languages
  • Brand Associations
    • ‘ owned’ word
    • Slogans
    • Colours
    • Symbols and logos
  • Brand Ambassadors
    • These are used to create the Brand personality, just like a human being. Therefore in some way the values and personality of the ambassador rubs off into the brand. Therfore the brand and choice of the ambassador must fit.
  • Brand Status Esteem Familiarity Troubled brand. Product upgradation required Product should be phased out Cash cow. Need to sustain brand building activities Step up advertising
  • Brand Vitality
    • Differentiation in consumer’s mind
    • Differentiation relevant to consumer’s need
  • Brand Pitfalls
    • Brand experience must match brand image
    • Calls for managing every brand contact