Brand management
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A brand is more than just a product - it is defined by the customer's experience and promises a bundle of attributes that provide satisfaction. A successful brand is unique, timeless, and differentiated from competitors. The purpose of branding is to establish a distinct identity for products and legally protect unique features to gain customers who associate the brand with high and consistent quality. Brand management involves developing promises to customers through tangible product features and intangible brand image, position and experience to build a reliable corporate image.
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Educaterer India is an unique combination of passion driven into a hobby which makes an awesome profession. We carve the lives of enthusiastic candidates to a perfect professional who can impress upon the mindsets of the industry, while following the established traditions, can dare to set new standards to follow. We don't want you to be the part of the crowd, rather we like to make you the reason of the crowd.
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Educaterer India is an unique combination of passion driven into a hobby which makes an awesome profession. We carve the lives of enthusiastic candidates to a perfect professional who can impress upon the mindsets of the industry, while following the established traditions, can dare to set new standards to follow. We don't want you to be the part of the crowd, rather we like to make you the reason of the crowd.
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It explains that brand management involves creating a consistent brand message and positioning the brand to occupy a distinctive place in the target customer's mind. Developing the right brand identity is important to differentiate the brand and create strong brand associations. Positioning the brand properly ensures it has a unique value proposition for customers.
Brand management
The document discusses brands and brand management. It begins by explaining what brands are, noting that brands represent a seller's promise to consistently deliver benefits to buyers and are defined by the associations consumers have with a product or service. It then discusses why brands are important, saying they help differentiate products, appeal to customers emotionally, and are symbols people use to express themselves. The document goes on to explain how brands are viewed differently by consumers and sellers, with consumers seeing them as a source of information, quality signal, and lower risk, while sellers see brands as a competitive advantage and source of profits. It aims to teach about key aspects of brands and brand management.
Brand management
The document discusses brands and brand management. It begins by explaining what brands are, noting that brands represent a seller's promise to consistently deliver benefits to buyers and are what consumers buy rather than just products. Brands are important because they help differentiate products, allow for quick purchasing decisions, represent quality, and can be emotionally connecting for customers. The document then covers brand management, explaining its purpose is to build and maintain strong brand image and equity. It also introduces the concepts of brand equity and strategic brand management process.
Brand management unit 1
This document discusses key concepts in brand management including:
- The meaning of brands, branding, and brand management and their importance to consumers and firms.
- The difference between products and brands and how brands add value.
- The strategic brand management process and customer-based brand equity (CBBE) model.
- Sources of brand equity like brand awareness, loyalty, perceived quality, and associations.
- The importance and basis of brand positioning in differentiating a brand and creating demand.
Brand Management
The document discusses key concepts related to branding, including:
1. Branding goes beyond the tangible product to include emotional and symbolic associations that differentiate a brand.
2. A strong brand creates expectations and promises a unique customer experience.
3. Developing a brand involves defining its identity, positioning, and values and sustaining these over time through branding strategies.
4. Brands have both tangible attributes but also intangible qualities related to customer perceptions and feelings about the brand.
What Is Branding?
This question has always intrigued me and have decided to use a few famous quotes to get the point across..
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Brand management
- 2. Basic of branding overview A product is something made in the factory; a brand is something the customer buys. A product can be copied or imitated by a competitor; a brand is unique. A product can be outdated; a successful brand is timeless.” – Stephen King (WPP Group, London)
- 3. What is brand ? “A name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers. The legal term for brand is trademark. A brand may identify one item, a family of items, or all items of that seller. If used for the firm as a whole, the preferred term is trade name.” - American Marketing Association
- 4. Continue…………… “A type of product manufactured by a particular company under a particular name.”- Oxford English dictionary “A name, term, sign, symbol, design, or a combination of these used to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.”– A product-oriented definition
- 5. Continue…………… “The promise of the bundles of attributes that someone buys and provide satisfaction . . .” – A consumer-oriented definition The fundamental purpose of branding is differentiation. A brand is a means of differentiating the seller’s product from other competing products.
- 6. characteristics of brand Tangible characteristics: Price, physical product, packaging, etc. Intangible characteristics: Customer’s experience with the brand, brand position, and brand image
- 7. Objective of a brand To establish an identity for the product or a group of products. To protect the product or service legally for its unique features. To acquire place for the product in consumers’ minds for high and consistent quality. To persuade the consumer to buy the product by promising to serve their needs in a unique way. To create and send the message of strong reliable business among consumers.
- 8. What is Brand management? An art creating a brand and maintaining it. Developing a promise to the customer, product and service. To manage tangible and intangible characteristic of brand. Builds and maintains the corporate image of a business
- 9. Brand Essence It is a single most compelling thing about a brand that differentiates it from the competing brands. The brand essence serves as a metric to evaluate the seller's marketing strategies. The most important brand essences arise from consumers' needs. Brand essence can be described in just a few words.
- 10. Con………. There are seven contributing elements of brand essence: Authenticity: If the brand makes a promise and fails to keep, then it is rejected. The consumers expect the sellers to be genuine and truthful. Consistency: The essence of a brand is lost if it is not consistent in providing what it promised to the consumer. Also, a brand should use its logo consistently over time. Durability: The brand essence remains same over time. Even if packaging and logos change, the essence does not change.
- 11. cont.……… Experience: It is the consumers experience with the brand. Uniqueness: It is how different a brand is from its competitors. Relevance: It is the relevance of a brand to the consumer. Single mindedness: It is sticking to only one thing about the brand which keeps the brand focused.
- 12. Elements of a Brand There are eight essential elements of a brand as given below:
- 13. Cont………
- 14. Cont….
- 17. Cont…..
- 18. Cont….