Brand management (2)


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Brand management (2)

  1. 1. Brand.
  2. 2. American Marketing Association • A name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers.
  3. 3. What Is a Brand? • Philip Kotler and Gary Armstrong: • A brand is defined as ‘a name, term, sign symbol or a combination of these, that identifies the maker or seller of the product’
  4. 4. David Ogilvy: • “the intangible sum of a product’s attributes: its name, packaging, and price, its history, its reputation, and the way it’s advertised.”
  5. 5. BRAND • A brand is any label that carries meaning and associations. A great brand does more: It lends coloration and resonance to a product or service.
  6. 6. Brand management • Tangible elements • Intangible elements
  7. 7. Why Brand? • To differentiate itself from its competitors. • Customers often build up a relationship with a brand that they trust and will regularly purchase products from that brand. • To evaluate the identical products differently • To organize inventory and accounting records • Offers the firm legal protection
  8. 8. Possible to brand: • A physical good • A service • A store • A person • A place • An organisation
  9. 9. A brand is a complex symbol. It can convey up to six levels of meaning. • Attributes: The brand and the product for which it is the symbol that have attributes. A brand has to convey its attributes. • Benefits: Customers buy a brand or product for benefits and not for its attributes. A brand has convey meaning in terms of benefits. • Values: The brand also says something about the producer's values. • Culture: The brand may represent a certain culture. • Personality: The brand can also project a certain personality. • User: The brand suggests the kind of consumer who buys or uses the product
  10. 10. Brand management • Brand management is a communication function that includes analysis and planning on how that brand is positioned in the market, which target public the brand is targeted at, and maintaining a desired reputation of the brand.
  11. 11. Brand Equity • Added value endowed on products and services • Does not develop instantaneously
  12. 12. Brand Equity • The value of a brand. • Carefully nurtured and marketed consumers feel real value and trust towards that brand.
  13. 13. Brand elements • Trade mark able devices that identify and differentiate the brand • Provide positive contribution to brand equity
  14. 14. Brand Elements Choice Criteria • Memorable • Meaningful • Likable • Transferable • Adaptable • Protectable
  15. 15. DEVISING A BRANDING STRATEGY • While introducing a new product: Develop new brand elements for the new products Apply some of its existing brand elements Use a combination of new and existing brand elements
  16. 16. • Brand Extension : when a firm uses an established brand to introduce a new product. • MARUTHI SWIFT AUTOMOBILE, ICICI PRUDENTIAL LIFE INSURANCE • Line extension: parent brand covers a new product within a product category it currently serves with new flavors ,colors ,forms etc • LIFEBUOY CARE,LIFEBUOY NATURE ,LIFEBUOY TOTAL • Category extension: the parent brand is used to enter a different product category from the one it currently serves • HONDA AUTOMOBILES ,MOTOR CYCLES,LAWN MOVERS,MARINE ENGINES
  17. 17. BRANDING DECISIONS • Individual names • Blanket family names • Separate family names for all products • Corporate name combined with individual product names.
  18. 18. Individual names • Several individual brands in several product categories EG : PROCTER & GAMBLE
  19. 19. Blanket family names • Companies use blanket family names in diverse product categories. • Lower development costs
  20. 20. Separate family names for all products • Separate family names for various products of the company
  21. 21. Corporate name combined with individual product names. • Combination of corporate name and individual name
  22. 22. Marketing Advantages Of Strong Brands • Improved perception of product performance • Greater loyalty • Less vulnerability to competitive marketing actions • Less vulnerability to marketing crisis • Larger margins • More inelastic consumer responses to price decreases • More inelastic consumer responses to price increases • Greater trade cooperation and support • Possible licensing opportunities • Additional brand extension opportunities • Increased marketing communication effectiveness