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  1. 1. What’s in a name? Branding and other aspects of the Marketing Communication/Promo plan Chat
  2. 2. What’s in a name? <ul><li>Setting the product and branding strategy </li></ul><ul><ul><li>A product is anything that can be offered to a market to satisfy a want or need. Product that are marketed include: physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. </li></ul></ul>
  3. 3. What’s in a name? <ul><li>What does your name mean? </li></ul><ul><li>Does it fit you? </li></ul><ul><li>How did you choose your child’s name? Your pet’s name? Maybe you named your car? </li></ul><ul><li>Does the name fit the child or pet? Your car? </li></ul><ul><li>Why? </li></ul>
  4. 4. Setting the product and branding strategy <ul><ul><li>Product Mix </li></ul></ul><ul><ul><ul><li>Product levels </li></ul></ul></ul><ul><ul><ul><ul><li>Customer Value Hierarchy </li></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Core Benefit </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Basic Product </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Expected Product </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Augmented Product </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Potential product </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><li>Product Hierarchy </li></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Need family </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Product family </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Product class </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Product line </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Product type </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Item </li></ul></ul></ul></ul></ul>
  5. 5. Setting the product and branding strategy <ul><li>Product classifications </li></ul><ul><ul><li>Durability and tangibility </li></ul></ul><ul><ul><li>Consumer-goods classification </li></ul></ul><ul><ul><li>Industrial-goods classification </li></ul></ul><ul><ul><li>Product mix </li></ul></ul><ul><ul><ul><li>Assortment of all products and items that a particular seller offers for sale, ie., Kodak </li></ul></ul></ul>
  6. 6. Setting the product and branding strategy <ul><li>Brand decisions </li></ul><ul><ul><li>What is a brand </li></ul></ul><ul><ul><ul><li>The AMA defines a brand as a name, term, sign, symbol, or design, combination of them, intended to identify the goods or services of one seller or group of sellers to differentiate them from those of competitiors. </li></ul></ul></ul>
  7. 7. Setting the product and branding strategy <ul><li>A brand is a complex symbol that can convey up to six levels of meaning. </li></ul><ul><ul><li>Attributes </li></ul></ul><ul><ul><li>Benefits </li></ul></ul><ul><ul><li>Values </li></ul></ul><ul><ul><li>Culture </li></ul></ul><ul><ul><li>Personality </li></ul></ul><ul><ul><li>User </li></ul></ul>
  8. 8. Setting the product and branding strategy <ul><li>Building Brand Identy </li></ul><ul><ul><li>Name, logo, colors, tagline, symbol </li></ul></ul><ul><ul><li>What is brand bonding? </li></ul></ul><ul><ul><li>How do you build brands in the new economy? </li></ul></ul>
  9. 9. Setting the product and branding strategy <ul><li>Brand equity </li></ul><ul><ul><li>The positive differential effect that knowing the brand name has on customer response to the product or service. </li></ul></ul><ul><ul><li>Brand valuation is about estimating the total financial value of the brand. </li></ul></ul>
  10. 10. Setting the product and branding strategy <ul><li>Choosing a name </li></ul><ul><ul><li>Individual names, ie General Mills </li></ul></ul><ul><ul><li>Blanket family names, ie Heinz </li></ul></ul><ul><ul><li>Separate family names for all products, ie Sears </li></ul></ul><ul><ul><li>Corporate name combined with individual product names, ie Kellogg’s Rice Krispies, etc. </li></ul></ul>
  11. 11. Setting the product and branding strategy <ul><li>Brand-building tools </li></ul><ul><ul><li>PR and press releases </li></ul></ul><ul><ul><li>Clubs and consumer communities </li></ul></ul><ul><ul><li>Factory visits </li></ul></ul><ul><ul><li>Trade shows </li></ul></ul><ul><ul><li>Event marketing </li></ul></ul><ul><ul><li>Public facilities </li></ul></ul><ul><ul><li>Social cause marketing </li></ul></ul><ul><ul><li>High value for the money </li></ul></ul><ul><ul><li>Mobile phone marketing…m-commerce </li></ul></ul>
  12. 12. Setting the product and branding strategy <ul><li>Brand strategy decisions </li></ul><ul><ul><li>Image brands—difficult to differentiate such as Mont Blanc pens…creating a distinctive design </li></ul></ul><ul><ul><li>Experiential brands—going beyond product, ie, Starbucks—people and place… </li></ul></ul><ul><ul><ul><li>Other strategies </li></ul></ul></ul><ul><ul><ul><ul><li>Line extensions, brand extensions, multibrands, new brands and co-branding </li></ul></ul></ul></ul>
  13. 13. Setting the product and branding strategy <ul><li>Brand asset management </li></ul><ul><ul><li>Public perceptions </li></ul></ul><ul><li>Brand auditing and repositioning </li></ul><ul><ul><li>Examples? </li></ul></ul><ul><ul><li>K-Mart </li></ul></ul><ul><ul><li>Schwinn </li></ul></ul>
  14. 14. Setting the product and branding strategy <ul><li>Packaging and labeling </li></ul><ul><ul><li>Well-designed packaging create convenience and can act as a promotional tool </li></ul></ul><ul><li>Labeling </li></ul><ul><ul><li>Identifies product/brand, ie Sunkist </li></ul></ul><ul><ul><li>Promotes brand </li></ul></ul>
  15. 15. Next Assignment <ul><li>Task 1 Task Type: Discussion Board Deliverable Length:  750-1000 words Points Possible: 75 Description: You're ready to take a big step in the marketing process for GGI Housewares branding. You know that branding is a strategy that needs to be determined early on and every marketing decision made should reflect and support the branding strategy. You like to do as much research as possible before meetings with senior management. Using the Library, unit resources, and the Internet, choose one brand that has strong market recognition to research. </li></ul><ul><li>Discuss this brand and the challenges of building brand recognition with senior management via posting to the Discussion Board. </li></ul><ul><li>In your post, explain the benefits and challenges of building leveraging brands in that segment (this is the specific industry segment related to your chosen brand name). </li></ul><ul><li>Now, turn your attention to GGI. Explain how branding strategies could be used in GGI's marketing project. </li></ul><ul><li>Post your comments to at least two other postings. Each comment must be at least 100 words in length. Use the 2X2 matrix to comment (i.e., two things you liked about the posting, and two things the student could have included to improve the posting including errors or excluding erroneous information).In your own words, please post a response to the Discussion </li></ul>
  16. 16. Grading Guidelines <ul><li>Have I: </li></ul><ul><li>Discussed and analyzed the value of branding and explained benefits and challenges. </li></ul><ul><li>Suggested a GGI branding strategy that is consistent with whatever target audience you are claiming GGI should go after. </li></ul><ul><li>Recommended an image for GGI to pursue and explain how branding can help accomplish this. </li></ul>