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Brand management
1) Brand concepts can provide functional, symbolic, or experiential benefits to consumers. 2) Positioning strategies progress through introduction, elaboration, and fortification stages. 3) Brands establish concepts through functional benefits and then elaborate on symbolic and experiential benefits. 4) Repositioning a brand may involve changing its target audience, developing new uses, or establishing a more compelling brand identity.
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Brand management
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- 2. Brand Benefits • Functional- intrinsic advantage (Head & Shoulders eliminates my dandruff) • Symbolic - extrinsic advantage - (H&S makes me beautiful) Badge brands fulfill needs for self esteem • Experiential - usage imagery (H&S tingles when I lather it onto my scalp)
- 3. Stages of PositioningStrategies • Introductory - helps consumers to understand brand image • Elaboration - help consumers perceive brand’s increasing value • Fortification - links brand image to image of other brand products in different product classes
- 4. Functional Benefit Concepts IntroductionElaboration Fortification Clorox bleach prob/solve soil/stain strategy; remover; cotton to synth new scents Vaseline skin balm prob/solve health/beauty strategy; products; extend usage Intensive care BabyWipes
- 5. Symbolic & Experiential BenefitConcepts Introduction Elaboration Fortification Symbolic Concepts Lenox china controlled mkt. Mix crystal, silver Brooks Bros. suit 26 stores, control shoes, cologne Experiential Concepts Barbie Doll Houses, outfits magazine, games Lego Blocks magnifiers, large do-it-yourself blocks furniture
- 6. Repositioning • Establish morecompelling POD and POP • Change target audience (Frosted Flakes) • Develop a new use (Baking soda)
- 7. Equity Reinforced Marketing actionsmust consistently convey the meaning of the brand to consumers in terms of what products the brand represents, core benefits supplied, needs satisfied and uniqueness. Reinforcing strategy - enhance brand meaning and associations Revitalizing strategy - recapture lost sources by expanding awareness and improving brand associations and image
- 8. Brand Portfolio Adjustments •Migration strategies - acquire new consumers by making brand seem relevant to them personally • “You are who you are become of where you were when” outlook • Tactics - testimonial ads, line extensions, on line offerings, retail stores
- 9. Predictors of Success BrandExtension • Johnnie Walker Scotch upscale men’s apparel • Evian deodorant • Jockey fitted sheets • Volkswagen golf carts • Victoria’s Secret laundry detergent • Swiss Army frozen meals
- 10. Questions • How mightDisney maintain brand equity in the film Bambi over the years? • Which strategy, reinforce or revitalize, is most important for the Bambi brand? • Would symbolic or experiential concepts be more suitable to the Bambi brand?