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Brand and Branding basics - Introduction to Branding

The document discusses branding fundamentals, emphasizing its role in differentiating products and fostering customer loyalty. It details the importance of brand identity, strategy, and value while highlighting how strong brands, like Coca-Cola and Nike, leverage emotional connections to enhance their market position. Additionally, it covers brand architecture, which organizes and differentiates a company's brands to maximize value.

Education◦
1 Brand and Branding basics
Introduction • Today’s modern concept of branding grew out of the consumer packaged goods 2 industry • The process of branding has come to include much more than just creating a way to identify a product or company. • Brands are a means of differentiating a company’s products and services from those of its competitors. • There is plenty of evidence to prove that customers will pay a substantial price premium for a good brand and remain loyal to that brand. • It is important, therefore, to understand what brands are and why they are important.
CHARACTERISTICS OF A BRAND 3  Brand identity is an effective form of advertising and marketing.  It helps to create an image for the public and potential customers.  Develops over time due to successful products.  Associated with quality products.  It is assumed that branded products have been extensively tried and tested before release.  Brands usually help build up customer loyalty.
4  Associated with innovation.  Brand identity helps customers distinguish between similar products, manufactured by different companies.  Companies try to emulate and even copy branded products.  Brands always have a distinctive logo/symbol.  Brand identity creates and maintains interest in products.
Basics of Brand  Successful branding is about promoting your strengths. following steps require  Particular skills - such as excellence in design  High-quality customer service  Providing the best value for money in your marketplace  Innovation - perhaps in a niche market 5
Defining Your Brand  Defining your brand is like a journey of business self-discovery. It can be 6 difficult, time-consuming.  Benefits and features of products or services  Customers and prospects already think of company  Qualities you want them to associate with company • Defining your brand and developing a brand strategy can be complex
Brand Strategy & Equity  Brand strategy is how, what, where, when and to whom you plan on 7 communicating and delivering on your brand messages  Advertise is a part of your brand strategy  And what you communicate visually and verbally are part of your brand strategy  Consistent, strategic branding leads to a strong brand equity  The most obvious example of this is Coca-Cola has built a powerful brand equity, it can charge more for its product--and customers will pay that higher price.
8  Added value intrinsic to brand equity frequently comes in the form of perceived quality or emotional attachment.  For example, Nike associates its products with star athletes, hoping customers will transfer their emotional attachment from the athlete to the product.
Brand Value 9  "Brand Value" is considered to be the net present value of the estimated future cash flows attributable to the Brand  It is referred to has Brand Equity  Consumer product brands can be measured through customer loyalty, staff retention/recruitment.  It can increase the financial value of a brand to the brand owner, although not the only one.
Brand value 10
Brand value 11  The brand values are what the customers see and feel during their contact with the company  Examples of brand value are :  The NFL: “To be the premier sports and entertainment brand that brings people together, connecting them socially and emotionally like no other.”  Coca-Cola: “To inspire moments of optimism and uplift.”  Virgin: “To be genuine, fun, contemporary, and different in everything we do at a reasonable price.”
Brand Architecture 12  Brand architecture is the structure of brands within an organizational entity  It is the way in which the brands within a company’s portfolio are related to, and differentiated from, one another  Brand Architecture are concerned with how to manage a parent brand, and a family of sub-brands  Managing brand architecture to maximize shareholder value can often include using brand valuation model techniques
Brand Architecture  A brand architecture needs to align to the corporate's overall brand strategy 13
14 Thank You