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327953194-Strategic-Brand-Management.ppt
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- 3. STRATEGIC BRAND MANAGEMENT 3 What is aBrand? differentiate identify A brand is a product, but one that adds other dimensions that differentiate it in some way from other products designed to satisfy the same need. Brand Elements: Different components of a brand that identify and differentiate it. Branding is all about creating differences.
- 4. STRATEGIC BRAND MANAGEMENT Strategic BrandManagement • Strategic brand management involves the design and implementation of marketing programs and activities to build, measure, and manage brand equity. 4
- 5. STRATEGIC BRAND MANAGEMENT 5 Why do Brandsmatter? Customers Firms Identification of source of product Assignment of responsibility to product maker Risk reducer Search cost reducer Promise, bond, or pact with maker of product Symbolic device Means of identification to simplify handling or tracing Means of legally protecting unique features Signal of quality level to satisfied customers Sources of competitive advantage Source of financial returns
- 6. STRATEGIC BRAND MANAGEMENT 6 Can Anything beBranded? Physical Goods Services Retailer & Distributor Online Product & Services People & Organization Sports, Arts & Entertainment Geographic Locations Ideas & Causes
- 7. STRATEGIC BRAND MANAGEMENT 7 Can everything bebranded? • A brand resides in the minds of consumers. • A brand is a perceptual entity rooted in reality, but in addition, it also reflects the perceptions and idiosyncrasies of consumers. • Consumers perceive differences among brands in a product category. • Even commodities can be branded: – Coffee (Nescafe), rice (India Gate), flour (Ashirwaad), sugar (Mawana, Dhampure), salt (Tata), oatmeal (Kellogg's), pickles (Priya/Tops), and even water (Bisleri)
- 8. STRATEGIC BRAND MANAGEMENT 8 FACTORS DETERMINING ENDURINGBRAND LEADERSHIP IN INDIA Five Factors as the key to enduring Brand Leadership in Indian market Five Factors Customer Focus & Vision Staying Close to the Brand DNA Innovation- Driven Product Revitalization Remaining Relevant to the Changing Consumer Needs Long-Term Financial Commitment Key Success Factor : Evolve over the years, Make a number of changes
- 9. STRATEGIC BRAND MANAGEMENT Branding Challengesand Opportunities? Media Fragmentation Increased Competition 9
- 10. STRATEGIC BRAND MANAGEMENT 10 A set ofbrand assets and liabilities linked to a brand, its name and symbol, that add to or subtract from the value provided by a product or service to a firm and/or to that firm’s customers. David Aaker Brand Equity Concept Brand equity provides a common denominator for interpreting marketing strategies and assessing the value of a brand There are many different ways in which the value of a brand can be manifested or exploited to benefit the firm Differences in outcomes arise from the “added value” endowed to a product as a result of past marketing activity for the brand This value can be created for a brand in many different ways Basic principles of branding and brand equity
- 11. STRATEGIC BRAND MANAGEMENT 11 Strategic Brand ManagementProcess • Mental maps • Competitive frame of reference • Points of parity and points of differences • Core brand values • Brand mantra • Mixing and matching of brand elements • Integrating brand marketing activities • Leverage of secondary associations • Brand value chain • Brand audits • Brand tracking • Brand equity management system • Brand-product matrix • Brand portfolios and hierarchies • Brand expansion strategies • Brand reinforcement and revitalization Identify and Establish Brand Positioning and Values Plan and Implement Brand Marketing Program Measure and Interpret Brand Performance Grow and Sustain Brand Equity Steps Key Concepts
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