Brand Management: Product and brand management for MBA

Brand Management
Dr. Gopal Thapa

Brand
 A brand is a name, term, sign, symbol, design or a
combination of them intended to identify the
goods or services of one seller and differentiate
them from those of competitors.
 Philip Kotler
 A brand is a distinguishing name or symbol
intended to identify the goods or services of one
seller and differentiate them from competitors
 David AAker
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Characteristics of a Brand
 Distinctive identity
 Easy to recognize
 Memorable
 Consistent quality
 Legal protection
 Emotional appeal
 Customer trust
 Competitive differentiation
 Long-term value creation
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Components (Elements) of a Brand
 Brand Name
 Logo
 Symbol
 Tagline/Slogan
 Color Scheme
 Typography
 Mascot
 Packaging
 Sound (Audio Branding)
 Website and Digital Identity
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Brand Development
 Brand development refers to the strategic process
of strengthening, expanding, improving, or
repositioning a brand to increase its value,
relevance, competitiveness, and customer loyalty
over time.
 Brand development ensures that brands remain
competitive despite changing consumer
preferences, technological advancements, and
market competition.
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Objectives of Brand Development
 Increase brand awareness
 Improve brand image
 Increase customer loyalty
 Enter new markets
 Launch new products
 Revitalize declining brands
 Increase profitability
 Maintain long-term competitiveness
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Major Brand Development Strategies
 Brand Extension
 Brand Rejuvenation
 Brand Re-launch
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Brand Extension
 Brand extension is the strategy of using an
existing successful brand name to introduce new
products into the same or different product
categories.
 Instead of creating an entirely new brand,
companies capitalize on existing brand equity.
 Brand extension is the use of an established brand
name for launching new products.
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Types of Brand Extension
 Line Extension
 Introducing new products within the same product
category
 E.g.: Cocacola zero, Wai Wai veg noodles
 Category Extension
 Using an existing brand in a completely different
product category
 E.g.: Apple watch, Apple airpods

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Line Extension
 .
 Examples:
 Coca-Cola Zero
 Dove Men+Care
 Sunsilk Black Shine
 Wai Wai Veg Noodles
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Category Extension
 .
 Examples:
 Apple Watch
 Apple AirPods
 Virgin Airlines
 Virgin Mobile
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Advantages of Brand Extension
 Lower promotional cost
 Faster customer acceptance
 Reduced risk
 Better distribution support
 Strong competitive advantage
 Higher sales
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Disadvantages
 Brand dilution
 Consumer confusion
 Failure may damage parent brand
 Cannibalization
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Factors for Successful Brand
Extension
 Parent brand reputation
 Product fit
 Consumer trust
 Quality consistency
 Effective communication
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Why Rejuvenation is Needed
 Declining sales
 Changing consumer preferences
 Technological changes
 Strong competition
 Aging customer base
 Negative brand perception
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Brand Rejuvenation
 Brand rejuvenation refers to revitalizing an
existing brand that has become outdated or has
lost customer interest.
 The objective is to make the brand relevant again
without changing its core identity.
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Methods of Brand Rejuvenation
 Product Improvement
 Packaging Redesign
 New Advertising Campaign

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Product Improvement
 Improving quality, features, or performance.
 Example:
 Samsung introducing AI-enabled smartphones.
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Packaging Redesign
 Modernizing package appearance.
 Example:
 Many beverage companies redesign bottles and
labels.
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Repositioning
 Changing the brand's image.
 Example:
 Old Spice repositioned from an older generation's
brand to a youthful, humorous men's grooming
brand.
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New Advertising Campaign
 Creating fresh communication.
 Example:
 Pepsi's celebrity endorsements.
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Benefits of Brand Rejuvenation
 Increased sales
 Improved customer loyalty
 Stronger market position
 Attracting younger customers
 Enhanced profitability
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Risks
 Alienating loyal customers
 High investment costs
 Failure to change consumer perception
 Competitive imitation
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Examples
 Goldstar
 Modern designs
 Sports sponsorship
 Digital marketing
 Youth-focused campaigns
 Wai Wai
 New flavors
 Attractive packaging
 Celebrity endorsements
 Social media campaigns
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Brand Re-launch
 Brand re-launch is the process of introducing an
existing brand back into the market with
significant changes to restore its competitiveness
and market acceptance.
 A re-launch usually involves major modifications
rather than minor improvements.
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Reasons for Brand Re-launch
 Declining sales
 Negative brand image
 Product failure
 Market changes
 New competitors
 Corporate restructuring
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Elements of Brand Re-launch
 New Logo
 New Packaging
 Product Improvement
 New Positioning
 New Pricing
 New Promotion Campaign
 New Distribution Strategy
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Advantages
 Restores customer interest
 Improves brand image
 Increases sales
 Attracts new customers
 Enhances competitiveness
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Challenges
 High promotional costs
 Consumer skepticism
 Risk of failure
 Need for consistent execution
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Difference Between Brand
Extension, Rejuvenation and Re-
launch
Basis Brand Extension
Brand
Rejuvenation
Brand Re-launch
Objective
Expand product
offerings
Revitalize an
existing brand
Reintroduce a brand
with major changes
Product
New product under
existing brand
Existing
product
Existing product with
significant changes
Risk Moderate Moderate High
Investment Medium Medium High
Brand Identity Maintained Refreshed
May change
significantly
Example Apple AirPods
Goldstar
modernization
A major relaunch of a
beverage brand with a
new formula,
packaging, and
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Brand Equity
 Brand equity refers to the additional value that a
product or service gains because of its brand
name.
 It reflects consumers' perceptions, experiences,
trust, and emotional attachment toward a brand.
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Brand Equity
 Brand Equity = The extra value customers
associate with a branded product compared to an
identical unbranded product.
 For example, many consumers willingly pay more
for an Apple iPhone than for a smartphone with
similar technical specifications because of Apple's
strong brand equity.
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Definition
 Brand equity is a set of brand assets and liabilities
linked to a brand's name and symbol that add to or
subtract from the value provided by a product or
service.
 David Aaker
 Brand equity is the differential effect that brand
knowledge has on consumer response to the
marketing of a brand.
 Kotler & Keller
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Dimensions (Components) of
Brand Equity
 Brand Awareness
 Brand Associations
 Perceived Quality
 Brand Loyalty
 Proprietary Brand Assets
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Brand Awareness
 Brand awareness refers to the extent to which
consumers recognize and recall a brand.
 Levels of Brand Awareness
 Brand Recognition
 Brand Recall
 Top-of-Mind Awareness
 Brand Dominance
 Example: When consumers think of soft drinks,
many immediately recall Coca-Cola or Pepsi.
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Brand Associations
 Brand associations are the ideas, feelings,
experiences, symbols, and perceptions linked with
a brand in consumers' minds.
 Examples
 Apple = Innovation
 Nike = Performance
 Mercedes-Benz = Luxury
 Goldstar = Durable Nepalese footwear
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Perceived Quality
 Perceived quality is the customer's judgment
regarding a product's overall excellence compared
with competing alternatives.
 Perceived quality may differ from actual product
quality because it is based on customer perception.
 Example
 Toyota is widely perceived as producing reliable
automobiles.
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Brand Loyalty
 Brand loyalty represents customers' commitment
to repeatedly purchase the same brand despite
competitors' marketing efforts.
 Benefits
 Repeat purchases
 Reduced marketing costs
 Positive word-of-mouth
 Stable revenue
 Resistance to competitors
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Proprietary Brand Assets
 These include intellectual property rights such as:
 Trademarks
 Patents
 Copyrights
 Distribution agreements
 Exclusive licenses
 These assets protect the brand from imitation and
strengthen competitive advantage.
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Kevin Keller's Customer-Based
Brand Equity (CBBE) Model
 Stage 1: Brand Identity (Who are you?)
 Develop strong brand awareness.
 Objective
 Ensure customers recognize and remember the
brand.
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CBBE Model
 Stage 2: Brand Meaning (What are you?)
 Develop positive brand associations.
 Two important dimensions:
 Performance
 Functional characteristics, Quality, Reliability ,
durability, Service
 Imagery
 Psychological characteristics, Lifestyle,
Personality , Social image
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CBBE Model
 Stage 3: Brand Responses (What about you?)
 Customers evaluate the brand.
 Responses include:
 Quality judgment
 Credibility
 Satisfaction
 Emotional reactions
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CBBE Model
 Stage 4: Brand Resonance (Relationship)
 The highest level of brand equity.
 Characteristics include:
 Strong loyalty
 Emotional attachment
 Active engagement
 Brand advocacy
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Benefits of Strong Brand Equity
 Benefits for Customers
 Benefits for Companies
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Benefits for Customers
 Reduces purchase risk
 Increases confidence
 Saves decision-making time
 Provides emotional satisfaction
 Creates social prestige
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Benefits for Companies
 Premium pricing
 Greater profitability
 Higher customer loyalty
 Easier product extensions
 Lower promotional costs
 Better negotiation with distributors
 Increased market share
 Sustainable competitive advantage
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Measuring Brand Equity
 Organizations use several methods to evaluate
brand equity.
 Financial Measures
 Consumer-Based Measures
 Market-Based Measures
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Financial Measures
 Brand value
 Revenue contribution
 Profitability
 Return on brand investment
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Consumer-Based Measures
 Brand awareness surveys
 Customer satisfaction
 Brand preference
 Brand loyalty
 Net Promoter Score (NPS)
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Market-Based Measures
 Market share
 Price premium
 Distribution strength
 Customer retention
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Challenges in Building Brand
Equity
 Intense competition
 Rapid technological changes
 Counterfeit products
 Negative publicity
 Social media crises
 Changing consumer preferences
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Examples of Strong Brand Equity
Brand Source of Brand Equity
Goldstar Durability, affordability, national pride
Wai Wai
Taste, convenience, widespread
availability
CG Trust, diversification, innovation
Ncell Network quality, service innovation
Himalayan Bank Reliability, customer trust
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Any Queries?
Thank You
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Brand Management: Product and brand management for MBA

Brand Management: Product and brand management for MBA

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