Brand Management
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This document outlines the key topics to be covered in an academic lecture on brand and brand management. It includes: 1. Definitions of brand, brand equity, and the importance of brands. 2. The strategic brand management process, which involves identifying brand positioning and values, planning marketing programs, measuring performance, and growing equity. 3. Challenges and opportunities in branding, such as increased competition, savvy customers, and media fragmentation. 4. Distinguishing brands from products and the concept of brand equity as a strategic asset. 5. Models for positioning brands, measuring brand value, and ensuring brand resonance.
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Brand Management
- 1. ACADEMIC LECTURE BRAND & BRAND MANAGEMENT CONTEMPORARY PERSPECTIVE CHAPTER 1 L e c t . N G Ô B Ì N H
- 2. 3 Brand Equity Concept 2 Why do Brands matter? 1 What is brand? Discussion 6 5 SBM Process Branding Challenges Opportunities 4 OU TLIN ES & LEA R N IN G OBJ EC TIV ES Define “brand,” state how brand differs from a product, and explain what brand equity is Summarize the importance of brand today’s brand-focused world Explain how branding applies to virtually everything. Describe the main branding challenges and opportunities. Identify the steps in the strategic brand management process In – class debate Best practice & Application N G O B I N H
- 3. [ BRAND ] No/Pro Logo Concept holistically [4] Image (Consumers’ Perception) Personality (Customer/Firm Perception) [2] [1] Identity (Company’s Desired Perception) N G O B I N H B Perceived Values (functional > emotional associations) [3] [ BRAND ] AMA * Definition (Physical Perspective Concept) BR A N D , WHAT IS A LL A BOU T…?
- 4. Towards Firms/Org Towards Consumer s To be branded WHY D O BR A N D S M ATTER ? Identification of the source of the product Assignment of responsibility to product maker Risk reducer Promise, bond Symbolic device Signal of quality Identification to simplify handling or tracing Unique features protecting legally Signal of quality level Endowing products with unique associations Source of SCA Source of financial returns Physical goods & Services Retailers and distributors People and organizations Sports, arts, & entertainment Geographic locations Ideas and causes N G O B I N H
- 5. WHAT BR A N D IN G M ATTER S N G O B I N H Media fragmentation Brand Proliferation Savvy Customers Greater accountability Increased costs Increased competition Brilliant consumers World-class inspiration Consumers more demanding Customer more sophisticated Others More new brands & products, Degrees of similarity. Many brand battles Traditional media erosion Non-traditional media emergence Other promotion, communication alternatives Globalization Low-priced competitors Brand extensions: Deregulation More complicated competition NPD expenses Current product supporting A new product failure Ambitious profit targets Short-term benefits but long- term costs decisions ROMI /P&L & etc
- 6. BR A N D V S . PR OD U C T N G O B I N H [ 1 ] [ 2 ] [ 3 ] Designing Packaging Services provided Delivery arrangements Basic Offerings Core benefit level Generic benefit level True product Expected product level Augmented product level Potential product level Financing Most value added Brand Equity Customer advice Other things valued by the customers B R A N D P R O D U C T has dimensions that differentiate it in some way Any offerings can be categorized, for use or consumption, [ a ] [ b ] [ c ]
- 7. BE Importance Strategic Brand Concept As Principles BR A N D S EQU ITY C ON C EPT? 1980s world-class Relevant difference Creation Brand assets + Brand Equity = Brand Value Value added to products. Risks reduction. High competitive advantage. Strengthen consumers’ purchasing decisions. Relevance vs. Differentiation Consumers’ response to marketing Brand knowledge building N G O B I N H
- 8. Strong & Beloved BRAND Plan & Implement Brand Marketing Programs [2] [1] Identify & Establish Brand Positioning & Values N G O B I N H SBM Strategic Brand Management Process [ K.L.Keller 1993 ] STR ATEGIC BR A N D M A N GEM EN T PR OC ESS [3] Measure & Interpret Brand Performance Grow & Sustain Brand Equity [4]
- 9. Brand Resonance Model Brand Positioning Model Brand Value Chain ID EN TIFY & ESTA BLISH BRAND POSITIONING & VALUE STP & D in customer mindset Mental map Point of Difference /POD. Frame of Reference / FOR Point of Parity/POP. Four steps of a strong brand building Salience Performance & Imagery Feelings & Judgement Resonance Value creation w. program multipliers Marketing Program Investment Customer minset Market Performance Shareholder value N G O B I N H
- 10. Brand Marketing Activities Brand Elements Secondary Associations PLA N & D ESIGN BRAND MARKETING PROGRAMS Brand components - Brand Identifications System People, places, things, & - abstract images Identify some new perspectives of marketing Enhancing product experience, value pricing, channel options Conducting IMC to build BE Creation of new brand associations COO Effects conduct Co-branding Celebrity Endorsement N G O B I N H
- 11. Brand Audit & Tracking Studies Brand Value Chain BE Measurement System M EA SU R E & IN TER PR ET BRAND PERFORMANCE Creating & Managing BVC Profitably Internal BE System CMI networks & Agency Partners Brand Health Emtrics Brand Tracking Surveys N G O B I N H Brand Perfomance Conducting Survey Customer Insights Customer’s BAR/PAR… Brand Health Checking Brand Vision Scan
- 12. Brand Expansion Strategies Define Brand Architecture Brand Reinforcement & Revitalization PLA N & D ESIGN BRAND MARKETING PROGRAMS Define Brand Portfolios & Hierachies Brand & CAT matrix Confirm Brand Priorities (Core/Extensiion/Stretch) Brand Platform of Prepare- Defense-Attack, etc Managing Brand Equity over Time Managing Brand Equity over Geographic Boundaries, Cultures, and Market Segments N G O B I N H
- 13. [ 3 ] Articles [ 2 ] [ 1 ] In Brief Next steps 6 [ 5 ] …….. [ 4 ] D ISC U SSION Starbucks Case study Individual homework Excersise SBM 1 Pair work Reading & Briefing Articles 1 In Class Debate Best practice Role - play Brand Battle in VN Initial Group Project’s Brainstoming N G O B I N H
- 14. THANK YOU FOR YOUR PARTICIPATION N G O B I N H