P& BM

Noida Institute of Engineering and Technology, Greater Noida
PRODUCT AND BRAND MANAGEMENT
AMBA MK0312
Ms.Priyanka Malhotra
Asst Prof.
Dept of MBA
5/8/2022
1
Unit: 3
Product and Brand Mgmt
MBA 2nd Year (3RD Sem)
Priyanka Malhotra Unit 3

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Index
Faculty Name : Ms.Priyanka Malhotra
Unit Number-2
S.No Topics
1. Name of Subject with code, Course and Subject Teacher
2.
Brief Introduction of Faculty member with Photograph
3. Evaluation Scheme
4. Syllabus
5. Content
6. Unit Objective(s)
7. Course Outcome(s)
8. CO-PO & PSO Mapping
9. Requisite & Recap

S. No. Topics
10. Objectives of Topic/Session
11. Topic Mapping with course outcomes
12. Lecture
13. Video Links
14. Daily Quiz
15. MCQs
16. Assignment
17. Old Question Papers
18. Summary
19. References
20. Result Analysis (Department Result, Subject Result and Individual Faculty Result)
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Index

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Ms. Priyanka Malhotra
Assistant Professor
Department: Management Studies
Email ID: priyankamalhotra@niet.co.in
Qualification: BBA, MBA, UGC NET, Ph.D (submitted)
Specialisation: HRM & OB
Total Teaching Experience: 14 years
Teaching Area: HR and Marketing

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5

UNIT-I
• Introduction to Product Management 08 Hours
Introduction to Product & Product Related Concepts: Product Management & Scope, Define Product,
Classification of Product, Product Levels, Product Hierarchy.
Product Life Cycle: Product Life Cycle Stages and corresponding Strategies and Product Evaluation.
Product Portfolio: Concept, Factors influencing Product Portfolio, The BCG Growth Matrix, Shell’s
Directional Policy Matrix
UNIT -2
• New Product Strategy 08 Hours
New Products: New Product Categories, Organization for Product Management, prototyping, New
Product Development Process, test marketing.
New product strategy: The need for Product Innovation Strategy, the components of new Product
Strategy Commercialization: Test Marketing, Time to Market, Breaking into the Market, Managing
Growth, Resistance to Change, Leveraging new Product Growth, Sustaining Differentiation
Managing the mature Product: Offensive Strategies, Extending the product life cycle, Customer
Relationship Management.
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Syllabus
Unit Number-2

UNIT-3
• Introduction to Brand Management and Brand Equity 08 Hours
Branding Basics: Brand, branding and significance of branding, Branding challenges and opportunities,
Brand equity concept, Strategic brand management process, Identifying and establishing brand
positioning, Planning and implementing brand marketing programs, Measuring and interpreting brand
performance, growing and sustaining brand equity.
Brand Equity concept and Brand Equity Models: Brand Asset Valuation, Aaker Model, Brand
Resonance.
UNIT-4
• Brand Positioning and Brand Marketing Programs 08 Hours
Brand knowledge, Customer-based Brand equity Sources of brand equity - Brand Awareness, Brand
Image, The Four steps of brand building, Creating customer value Identifying and establishing brand
positioning, Positioning guidelines.
Planning and Implementing Brand Marketing Programs: Choosing brand elements to build brand
equity, Options and tactics for Brand, Integrating marketing communication to build brand equity,
Conceptualizing the leveraging process, Co- branding, Celebrity Endorsement.
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Syllabus

• UNIT-5
Measuring, Growing and Sustaining Brand Equity 08 Hours
The brand value chain, Designing brand tracking studies, Capturing customer mind set
through quantitative research techniques.
Brand architecture, Brand hierarchy, Designing brand strategy, Brand extensions-
advantage and disadvantage- Reinforcing brands, Revitalizing brands, Brand Failures.
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Syllabus

CO1 :Students will develop an understanding of Product and brand management
CO2 :Students will develop an understanding of competition at Product Level and
Brand level
CO3 :Students will acquire the skill to Brand management and Brand equity.
CO4 :To enable learners to understand basics of brand equity, insights into the
conceptual framework for Strategic Brand Management.
CO5 :Understand the various aspects of Product Management and Product Strategy,
strategic significance of Product and Brand Management in business.
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Course Outcome

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Programme Objectives(Pos)
PO1: Knowledge of Management theories and practices
PO2: Analytical & Critical thinking abilities
PO3: Value based leadership
PO4: Understand, analyze and communicate all aspects of business
PO5: Achievement of Organizational goals

Mapping of course Outcomes and program Outcomes
High =3 ,Medium =2 ,Low =1
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CO-PO Mapping
S No CO/PO PO1 PO2 PO3 PO4 PO5 PO6
1 CO1 1 3 3 3
2 CO2 1 3 2 2 3 3
3 CO3 2 2 1 3
4 CO4 1 3 2
5 CO 5 2 2 2

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Program Educational Outcomes
PEO1: Conceptual Knowledge to adapt in rapidly changing environment and learn new skills and
demonstrate application of management principles in professional work setting.
PEO2: Apply appropriate tools for decision making for solving complex managerial problems in
local or global context
PEO3: Exhibit Integrity, social responsibility and teamwork
PEO4: Exhibit ethics, communication skills, leadership qualities and entrepreneurial mindset

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Result Analysis (Department Result, Subject Result and Individual
Faculty Result)

• The objective of this Unit is to help students understand the concept
of Brand, branding and brand equity and the theoretical as well as
practical aspects related to them.
5/8/2022 Priyanka Malhotra Unit 3 14
Objective

A brand is a name, term, design, symbol or any other feature that identifies
one seller's good or service as distinct from those of other sellers. Brands are
used in business, marketing, and advertising for recognition and, importantly,
to create and store value as brand equity for the object identified, to the
benefit of the brand's customers, its owners and shareholders.
It is the personality that identifies a product, service or company (name, term,
sign, symbol, or design, or combination of them) and how it relates to key
constituencies: customers, staff, partners, investors etc.
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Definition of a Brand

A good brand name should have following characteristics:
1. It should be unique / distinctive (for instance- Kodak, Mustang)
2. It should be extendable.
3. It should be easy to pronounce, identified and memorized. (For instance-Tide)
4. It should give an idea about product’s qualities and benefits (For instance- Swift, Quickfix, Lipguard).
5. It should be easily convertible into foreign languages.
6. It should be capable of legal protection and registration.
7. It should suggest product/service category (For instance Newsweek).
8. It should indicate concrete qualities (For instance Firebird).
9. It should not portray bad/wrong meanings in other categories. (For instance NOVA is a poor name for a
car to be sold in Spanish country, because in Spanish it means “doesn’t go”).
Features of a Good Brand Name

Branding is the process of giving a meaning to specific organization,
company, products or services by creating and shaping a brand in
consumers’ minds. It is a strategy designed by organizations to help
people to quickly identify and experience their brand, and give them a
reason to choose their products over the competition’s, by clarifying
what this particular brand is and is not.
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Branding

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1. A brand helps buyers in identifying the product that they like/dislike. A brand helps
customers to identify the product on the shelf and helps in making an informed choice.
2. It identifies the marketer.
3. It helps reduce the time needed for purchase.
4. It helps buyers evaluate quality of products, especially if they are unable to judge a
product’s characteristics. .It is a mental guarantee that the product will deliver the desired
value promise.
5. It helps reduce buyers’ perceived risk of purchase.A brand serves as an assurance to the
customer about product performance.
6. Brands are considered as symbols of status and social significance give psychological
satisfaction to the consumers. (e.g., Rolex watches or Mercedes).
Significance of Branding

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Branding Challenges and Opportunities

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Strategic brand management is the process of building, measuring, and
managing brand equity, brand recognition, and presence to boost revenue and
accomplish long-term business objectives. Strategic Brand Management Process:
Strategic Brand Management

Eg.: Tesla
In the initial years of Tesla, it fails to meet its production target and fails to grab the attention of the
consumers. It was criticized for its electric vehicle. But with the efforts of the founder of Tesla, it
started performing well in the market.
The brand strategy of Tesla heavily relied upon providing the best customer experience. This brand
focuses on its brand reputation, and even its founder was responding to the tweets of the
consumers. This is how it made a good brand reputation and manages the brand strategically.
Strategic Brand Management Process

• A _______ is a name, term, design, symbol or any other feature that identifies
one seller's good or service as distinct from those of other sellers.
• _________ is the process of giving a meaning to specific organization, company,
products or services by creating and shaping a brand in consumers’ minds.
• Brands are considered as symbols of ______and social significance give ______
satisfaction to the consumers.
• Give two challenges faced in branding products.
• _________is the process of building, measuring, and managing brand
equity, brand recognition, and presence to boost revenue and accomplish long-
term business objectives.
Daily Quiz

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1.Improvement in customer retention and establishing customer loyalty
2.Better engagement of employees in achieving the company’s objective
3.Employees feel more close to the company
4.Brand perception gets improved, and selling power strengthens up
5.Allows the company to have an impactful marketing communication.
6.A company gets less vulnerable to the drastic changes in the industry market
7.Increase customer responses and trade cooperation
8.It promotes licensing opportunities.
Importance of Strategic Brand Management

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Identifying & establishing Strategic Brand Management
1) Identify the current standing of the brand (if existing product)
2) Identify the direct competition
3) Understand the standing of the competitor brands
4) Identify the uniqueness of the company
5) Develop the unique selling propositions
6) Formulate the messaging statements

Once the positioning strategy is set, the next step involves the brand
manager to actually plan and implement strategies to position the brand
as planned. It further involves three steps –
• Choosing the brand elements brand name, logo, symbols, characters,
packing, and tagline. These are usually the first things customers will come
across before actually trying the product.
• Choosing the marketing activities and supporting marketing
programs and the way the brand is integrated into them
• Leveraging secondary associations like the country of origin, the channel
of distribution, etc. These are usually other entities that have their own
associations. They result in lending their own associations to add to the
planned positioning.
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Planning and implementing brand marketing programs

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The next step involves designing and implementing a brand equity measurement
system which helps the brand managers measure and manage brand profitability. A
brand equity measurement system is a set of research procedure designed to provide
timely, accurate and actionable information about the concerned brand to the brand
managers so they can make best possible tactical and strategical decisions to benefit
the brand in the short as well as the long run.
•Conducting Brand Audits: A brand audit is a comprehensive examination of the
brand’s current position in the market with respect to its competitors. It involves
assessing the strengths and weaknesses of the brands and providing suggestions on
how to strengthen it.
•Designing Brand Tracking: Brand tracking involves the collection of brand-related
information directly from the consumers on a routine basis over time, to measure the
present health of a brand, both in terms of consumers’ usage of it and what they
think about it.
Measuring and interpreting brand performance

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•Establishing A Brand Equity Management System: It is a set of organizational
processes designed to improve how the brand equity concept is understood within
the company. This framework identifies sources and outcomes of brand equity and
permits tactical guidelines as to how to build, measure, and manage brand equity.
Measuring and interpreting brand performance

• Strategic Brand Management helps in _________& __________.
• Highlight the steps in Identifying & establishing Strategic Brand
Management.
• ___________ & ___________ are secondary associations which if
leveraged can help in implementing brand marketing programs.
• A __________is a comprehensive examination of the brand’s current
position in the market with respect to its competitors.
• ____________is a set of organizational processes designed to
improve how the brand equity concept is understood within the
company.
Daily Quiz

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29
Brand equity refers to a value premium that a company generates from a product with a recognizable
name when compared to a generic equivalent. A clear brand identity when reinforced over a period of
time in the customer’s mind to develop a high level of customer franchisee, leads to creation of brand
equity. When a company has positive brand equity, customers willingly pay a high price for its products,
even though they could get the same thing from a competitor for less.
The brand equity can be determined by measuring:
i. The price premium that the brand charges over unbranded products
ii. The additional volume of sales generated by the brand as compared to other brands in the same
category and/or segment.
iii. The share prices that the company commands in the market (particularly if the brand name is the
same as the corporate name, or customers can easily associate the performance of all the individual
brands of the company with the financial performance of the corporate)
iv. Returns to shareholders
v. The image of the brand on various parameters that are deemed important
vi. The future earnings potential of the brand.
vii. Or a combination of the above methods.
Brand equity

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Brand equity
Brand awareness: Awareness essentially means that customers know about the
existence of the brand and can also recall what category the brand is in.
Brand associations: Anything that is connected to the customer’s memory about
the brand is an association like quality perceptions, their interactions with
employees and the organization, advertisements of the brand, price points at
which the brand is sold, product categories that the brand is in, product displays in
retail stores, publicity in various media, offerings of competitors, celebrity
associations etc.
Perceived quality: It is the perception of the customer about the overall quality of
a brand.
Brand loyalty: A customer is brand loyal when he purchases one brand from
among a set of alternatives consistently over a period of time.
Preference – When the consumer has a good experience with the brand, it
becomes the preferred choice.
Experience– Now that they recognize the brand and know what it is or stands for,
they try it.
Other proprietary brand assets: Proprietary assets include patents, trademarks
and channel relationships.

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Importance of Brand Equity
Increases Market Share: Good brand equity results in loyal customers who prefer
one brand over the other and increases its market share.
Price Premium: Positive brand equity can charge more for its product than the
actual market price.
Asset: Brand equity is an intangible asset of an organization and like any other
asset; this too can be licensed, leased or sold to others.
Extension of Product Line: Positive brand equity makes it easier to introduce
new product lines. For example, Apple started with Mac operating systems and
easily converted its equity with iPhones.
Information processing: It helps customers in interpreting, processing, and
storing information about products and brands. It simplifies this process.
Customer confidence: A brand’s assets enhance customer confidence in the
purchase decision.
Customer satisfaction: The final value to the customer comes in the form of
usage satisfaction.
Marketing programmes: The effectiveness and efficiency of marketing
programmes are increased by brand equity assets.
Customer Loyalty: Brand equity dimensions allow a firm to have greater
customer loyalty. The customers can exhibit preference and commitment to a
brand only.

• _________ refers to a value premium that a company generates from
a product with a recognizable name when compared to a generic
equivalent.
• A clear ________when reinforced over a period of time in the
customer’s mind leads to creation of brand equity.
• Anything that is connected to the customer’s memory about the
brand is an association like quality perceptions is called ___________.
• A customer is ________when he purchases one brand from among a
set of alternatives consistently over a period of time.
Daily Quiz

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Once the brand equity is built, the next step involves maintaining and expanding it to make
sure that the brand continues to grow. This involves –
Defining brand architecture: It includes defining general guidelines about the branding
strategy and answers the what, why, where, who, and how about the brand structure and
brand elements. It is made up of a brand portfolio – listing all the brands a company has to
offer, and a brand hierarchy – listing the number and nature of common and distinctive
brand elements across the company’s products.
Managing brand equity over time: It involves taking marketing decisions with a long-term
perspective of how such decisions will affect brand equity in the long run. It also involves
managing the brand within the context of other brands as well as multiple categories, over
time, and across multiple market segments
Brand reinforcement and revitalisation: It is all about making tactical decisions which make
sure that the customers have the desired knowledge structures so that the brands continue
having its necessary sources of brand equity.
Growing and sustaining brand equity

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Brand sustainability is about perpetuating long-term differentiation and strong brand
recognition. This can be achieved through sustainable competitive advantage, which means
having unique abilities, attributes and company assets that are difficult to be reproduced or
exceeded by another company.
Through building and strengthening your brand and the business, you are protecting and
sustaining your brand equity. This can be done through :
Quality Credibility
Internal Marketing Positioning
Long-term Perspective Well-blended communications
Brand Building Repositioning
Growing and sustaining brand equity

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THE 3 BRAND EQUITY MODELS ARE :
1. AAKER Model
2. Brand Asset Valuation
3. Keller’s Brand Equity or Brand resonance Model
Brand Equity Models

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David Aaker has defined brand equity in his Aaker Model. He defines brand equity as a group of assets and
liabilities that can be directly associated with the brand and that which adds value to the product. For
Aaker, brand management starts with developing a brand identity, which is a unique set of brand associations
representing what the brand stands for and offers to customers an aspiring brand image.
Aaker model consists of 5 components:
Brand Loyalty
This explains the level of loyalty that a customer shows towards a brand
Brand Awareness
This is the extent to which the brand is popular in the market
Perceived Quality
The image of a product and its quality in the eyes of the customers
Brand Associations
The level of recognition that a brand has in its product category
Proprietary Assets
The number of patents, intellectual property rights, trademarks, etc. that a brand owns.
These components of the Aaker model help to influence the customer’s choice. A customer will be willing to
associate with a brand that offers higher quality and satisfaction.
Aaker Model

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Brand Equity Models

• ____________ includes defining general guidelines about the branding
strategy and answers the what, why, where, who, and how about the brand
structure and brand elements.
• Brand reinforcement and revitalisation help in _________ the brand equity.
• ___________ is about perpetuating long-term differentiation and strong
brand recognition.
• _________defines brand equity as a group of assets and liabilities that can
be directly associated with the brand and that which adds value to the
product.
• The level of recognition that a brand has in its product category is called
________.
Daily Quiz

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2. KELLER'S BRAND EQUITY MODEL OR BRAND RESONANCE
Brand Equity Models

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Keller’s Brand equity model is also known as the CBBE model which stands for Customer based brand equity. The CBBE
model or the Brand equity pyramid is actually a pyramid which tells us how to build brand equity by understanding your
customers and implementing strategies accordingly. If there is a connection between the brand and the consumer, it
results in positive brand equity & has a better chance of acquiring and sustaining customers, thereby giving a huge
advantage to the companies and products which are considered as “brands”.
By using the Brand equity pyramid or the CBBE model, brands know which strategies to implement and how to give the
right experiences to their audience so that they create the WOW factor.
THE KELLER MODEL HAS 4 LEVELS :
1. SALIENCE
This level of the pyramid deals with establishing the identity of the brand. Keller suggests a single building block for this
phase and terms it brand salience.
To attain this level Keller suggests brand awareness , knowing the customers-their needs , wants, segmentation , USP of
the brand.
2. PERFORMANCE AND IMAGERY
The second layer of the pyramid deals with giving meaning to the brand and here Keller presents two building
blocks: brand performance and brand imagery.
Brand performance is the way the product or service attempts to meet the consumer’s functional needs. Brand
performance also has a major influence on how consumers experience a brand as well as what the brand owner and
others say about the brand.
Keller’s Brand Equity Models

3. JUDGEMENT AND FEELING
Judgments about a brand emerge from a consumer pulling together different performance and imagery associations. These judgments
combine into a consumer’s opinion of a brand and whilst there are multiple judgments that an individual can make.
Judgments can be made about :
1.Quality : Actual and perceived ,
2.Creditability : The extent to which the brand is perceived as having expertise, being trustworthy and likable .
3.Consideration :Brand must be unique, relevant to the consumer so that they are likely to purchase or use it.
4.Superiority : Specialisation in brand.
Brand must have positive feelings : Warmth , Excitement , Security , Social approval and self respect.
4. RESONANCE
•Resonance is characterized by the intensity of the psychological bond that customers have with the brand and their level of engagement with
the brand.
•The challenge for the brand manager and strategist is to develop the bond and increase the number of interactions (repeat purchases of a
product or service) through the development of marketing programmes that fully satisfy all the customers’ needs, provides them with a sense
of community built around the brand and even empowers them to act as brand champions.
•To attain this final level a brand needs :behavioural loyalty, attitudinal attachment , sense of community, active engagement.
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Keller’s Brand Equity Models

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3. BRAND ASSET VALUATOR EQUITY MODEL OR BAV MODEL
DIFFERENTIATION ESTEEM
+ +
RELEVANCE KNOWLEDGE
= =
BRAND STRENGTH ------------ BRAND STATURE
BRAND ASSET VALUATOR EQUITY MODEL OR BAV MODEL

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Brand Asset Valuator has 4 pillars
1. Differentiation
BAV’s Differentiation Pillar examines a brand’s unique meaning, dynamism and energy—what it is
that enables it to stand out and capture the attention of consumers. This pillar most relates to brand
pricing power, loyalty and cultural currency.
2. Relevance
BAV’s Relevance Pillar measures the connection brands have to people - how meaningful and
relevant they are in the lives of consumers. It is cost-of-entry to brand consideration and market
penetration.
3. Esteem
BAV’s Esteem Pillar captures how a brand lives up to its promise—how highly consumers respect
and regard it. Brands held in high esteem are more likely to see repeat usage from consumers.
4. Knowledge
BAV’s Knowledge Pillar measures the depth of understanding consumers have for a brand and is the
culmination of the brand-building process

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THE POWER GRID : BAV MODEL

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New Brand
The Brand Vitality and Brand Stature are both low. The new product or service may already be distinctive, but not yet known to
consumers. Marketing is required to get the brand in the minds of consumers and to convince them to give the new product a
try.
Development Brand
The Brand Vitality is high and the Brand Stature is low. The brand is distinctive enough with regard to competitors, but more
awareness needs to be generated. This is done through promotional activities and information transfer.
Brand Asset Valuator and Brand Leadership
The Brand Vitality and Brand Stature are both high, which means the highest goal has been achieved. One can speak of a top
brand that is popular among consumers and has significant sales. It is wise for companies to do all they can to maintain this
status. A name change isn’t a good idea here, and neither is a rigorous change of the product or service. After all, the customer
relies on the brand.
Brand Loss
The Brand Vitality and Brand Stature are both low. This may be due to various factors. Changes in the environment, new
developments and trends, and scandals and negative publicity; they can all bring a brand to the edge of the abyss. Competitors
have taken over the market and the organisation will have difficulty returning to their previous position.
Brand Asset Valuator and Loyalty
Using the Brand Asset Valuator (BAV), one can give an indication of a brand’s market position. Organisations can create their
brand policy by analysing the environment and implementing an appropriate strategy. For example, the brand name can further
be expanded upon by means of a marketing campaign, improving the market position even further.

• Keller’s Brand equity model is also known as the ____________.
• The Keller model has 4 components namely ________, ________,
________ and _________.
• _________________ is characterized by the intensity of the
psychological bond that customers have with the brand and their
level of engagement with the brand.
• Brands held in high _______ are more likely to see repeat usage from
consumers.
Daily Quiz

https://youtu.be/Wwu3Qvs31vk
https://youtu.be/sO4te2QNsHY
https://youtu.be/1fYGuAKGIy8
https://youtu.be/cIaI9yMrHKA
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Faculty Video Links, You tube & NPTEL Video Links and Online Courses Details

This case is about the branding strategy that global toy manufacturing company LEGO Group adopted to restore its brand image
and expand its outreach among consumers across the world. As a distinct player, LEGO followed a brand strategy which was
disruptive, innovative, market-changing, and category-killing. Started with the vision of ‘Inventing the future of play,’ LEGO
catered to the growing demands of its consumers through timely product expansion and diversification. However, it failed
to address its core customers and neglected its core business in the wake of a mindless brand expansion strategy that
resulted in losses to the company and deterioration in its brand reputation for some time. To revive the company and
rejuvenate its brand, LEGO appointed Jorgen Vig Knudstorp as its CEO. Knudstorp undertook a rebranding plan that focused
on “establishing operational and financial control as well as stability.” The rebranding strategy enabled LEGO to reach the
milestone of mainstreaming sustainability with its core business that focused on its core product, the LEGO bricks. Going
forward, LEGO faced the challenge of protecting its original brand and creating toys that lived up to the expectation of the
rapidly growing digital world.
1. Study and analyze how LEGO became a powerful brand.
2. Understand the challenges faced by LEGO going forward and explore the ways in which it can overcome the challenges
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Assignment

http://www.aktuonline.com/mba.html
• https://www.pooripadhai.com/previous-year-question-paper/universities/aktu/mba/
• http://www.aktuonline.com/papers/mba-1-sem-marketing-management-1-kmb-106-2018-19.html
• http://www.aktuonline.com/papers/mba-1-sem-marketing-management-rmb-106-2018-19.html
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University paper Links

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Expected questions for University Exams
1. Define a brand.
2. Discuss the characteristics of a good brand.
3. Give the meaning of branding.
4. Differentiate between brand and branding.
5. Discuss the various challenges and opportunities in branding.
6. Explain the strategic brand management process.
7. Discuss the concept of brand equity and highlight its importance.
8. Discuss Aaker’s Model of brand equity.
9. Explain the Brand Asset Valuator Model of brand equity.
10. Discuss Keller’s Brand Equity Model.

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References
Kotler , P. , Marketing Management, Prentice Hall , 2003( 11th edn )
Michael Baker, Susan Hart Product Strategy and Management,, Pearson Education, Second Edition.
Kevin Lane Keller, M.G. Rameswaram and Isaac Jacob, Strategic Brand Management, Pearson
Education, Third Edition.
Donald R. Lehmann and Russell S. Winer, Product Management, TMH, Fourth Edition
Paul Trott, Innovation Management and New Product Development,Pearson, Fourth Edition
Brand Management, , H. V. Verma, 2004, New Delhi: Excel Books

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