Managing Brands By Khadija Yassi Shuena Mohamed Pashtana Bayangar Jake Medina Hugo Davis
What is a Brand• “A successful brand is an identifiable product, service, person or place augmented in such a way that the buyer or user perceives relevant, unique added values which match their needs more closely. Furthermore, its success derives from being able to sustain these added values in the face of competition” (de Chernatony and McDonald, 2003)
What is a Brand • A brand is usually just seen as the name, symbol or logo i.e. Brand image. • When creating a brand the task is to make sure the brand is powerful. • The brand should show what the company stands for and should deliver promises to its customer. • Brands must be recognizable and offer something different to their rivals in terms of products, services and value for money.
Brand IdentityLaunched in 1886Originally aimed as a health drink
Constructed Source The Real Thing To refresh the world Physical Facet “To inspire moments of optimism and happiness” “To create value and make a difference” Personality What happens to this brand when it becomes a person? Relationship Culture (values) What do customers get out of Coke Utopian Nationalism Social Interactions Deep Down We are all the same Pop Culture USA Culture Reﬂected Consumer Consumer MentalisationWhat do consumers believe the brand stands for? Refreshing Drink Consistent Product Cool and Relevant Constructed Receiver Winning Culture
No.1 Carbonated Drink ProducerNo.2 Sports Drink ProducerNo.3 Bottled Water ProducerStarted Globalizing in the 1890s, first branching out to Cuba andCanadaOverseas sales = 2/3 of Coca colas revenue, 3/4 of operatingincomeManufacturing & Bottling20 plants overseas manufacture beverages300 bottling subsidiariesSource Coca Cola
Unique Added ValueJones (1986) Added value formed the most important part of a brands deﬁnition. The primary basis for distinguishing a brand from a product."adding things that the customer never thought about". "benchmarking against competitors" "a multidimensional construct which includes functional and emotional beneﬁts...relative to the competition"“A brand can be an intangible asset, used by analysts to rationalize the differencebetween a companys "book value" andmarket value.” ibrand 2011
Maintaining Image ConsistencyA strong identity is not made over nightCoca Cola have maintained their core valuesCoke been around for 100 years and is one ofthe most recognisable brands today.The Logo has stayed the same constantthroughout the years.New coke was introduced in 1985. Till thisvery day that is seen as one of the biggestmarketing failures of all time. Why were thepeople of coke mad?
Brand Equity ConceptBrand equity is the value of the brand in the marketplace.Value can be added through Customer Loyalty and retentionA strong brand equity helps a brand to branch out with sub brands
CompetitionPackaging and Identity is more important than the ingredientinside the can.