2. Brand Impact: Branding impact on buyers –
competitor, Brand loyalty – loyalty programmes
–brand equity – role of brand manager –
Relationship with manufacturing - marketing-
finance - purchase and R & D – brand audit
3. Brand Loyalty
Brand loyalty is the loyalty or faithfulness which a
customer develops for a brand. Brand loyalty is
developed in the mind of a consumer after find the
product or service useful. Brand loyalty is an
important aspect of marketing as it helps companies
build a strong brand and get the customers again.
Brand loyalty is not simply rebuying the products but
creating a positive brand image in the consumer’s
mind, who becomes a positive brand advocate.
4. Importance:
Loyalty reduces marketing costs of the firm. It costs less to
do business with repeat customers than attracting new
ones.
Loyalty provides trade leverage. It easily gains shelf space,
trade cooperation etc., when a brand is with a loyal
customer base.
Loyal customers repose confidence and faith in the brand.
When a brand has loyal followers, it is easy to transform a
prospect into a customer.
Loyal customers do not respond quickly to the product
improvement in competitive offerings; So, the firm gets
sufficient lead time to effectively counter competitive moves.
5. Levels of brand loyalty
Switchers
Habitual buyers
Switching cost loyal
Buyers liking the brand
7. Advantages of Brand Loyalty
1.Brand loyalty gives an edge over competitors by a
higher brand recall.
2.Creates positive brand value and word of mouth
helps in positive marketing.
3.Customers are willing to pay a premium also for their
brand.
4.Saves costs on customer retention and helps get
new customers onboard.
5.More products under the same brand get popular
with loyal customers
8. Disadvantages of Brand Loyalty
Sometimes companies become overconfident and
start developing flaws in products or services,
which impacts them later.
Too much brand loyalty amongst customers makes
them blind towards better products at a cheaper
price which are present in the market.
Companies with strong brand loyalty amongst
customers often escape legal action for scandals.
9. Brand equity
Brand equity is a marketing term that describes a
brand’s value. That value is determined by
consumer perception of and experiences with the
brand.
Definition
The Brand Equity refers to the additional value
that a consumer attaches with the brand that is
unique from all the other brands available in the
market.
10. Components of brand equity
Brand Awareness
Brand Association
Brand Experience
Perceived Quality
Brand Loyalty
Brand Preference
11. How to Build Brand Equity
Awareness
Recognition
Trial
Preference
Loyalty
Why is Brand Equity Important
Increases market share
Price premium
Asset
Extension of product line
12. Positive Brand Equity
Brand equity is the positive effect of the
brand on the difference between the prices
that the consumer accepts to pay when the
brand is known compared to the value of the
benefit received.
13. Negative Brand Equity
The term "negative brand equity" may be
used to describe a product or service where
a brand has a negligible effect on a product
level when compared to a no-name or
private label product.
14. Meaning Of Brand Manager
Brand Manager is to develop a brand strategy for
a company. Brand managers oversee a wide array
of business functions including branding,
communication channels, product development,
online and offline promotions, and market research.
They often conduct market research for a company
15. Role of a brand manager
Protect the brand
Work with several departments within the
company
Coordinate several marketing agencies
Focus on the consumer
Make important business decisions
16. Brand Manager Job Description:
1.Job Summary
2.Job Responsibilities:
Conduct consumer and market research
Identify how our brand is currently positioned in the
market
Design a research-based brand strategy
Develop and execute marketing campaigns aimed at
communicating our brand message
Communicate our brand personality internally and
align company around foundational ideas
Lead marketing team members through campaigns
Measure and report on success of marketing
campaigns
Anticipate consumer trends and keep brand up to
date
17. Brand Manager Best Practices and Strategies
Practices:-
Be adaptive and flexible
Leverage technology
Be a strategic guide and mentor
Align organizational structures
Be proactive
18. Brand Manager Best Practices and
Strategies
Strategies:-
Combine strategy and creativity
Don’t follow the herd
Consider strategy before tactics
Prioritize simplicity
Focus on aesthetics
20. How to prepare yourself for a brand
manager position interview?
1. Experience
2. Education
3. Skills
21. Brand Audit
Brand audit is a process of examining your
position in the market, comparing it to your
competitors, and assessing the effectiveness
of your overall business strategy.
22. Steps to conduct a Brand Audit
Create a brand summary and framework
Determine the survey methods
Competition check
Review sales data
Review web and social analytics
Analyze the results
23. Factors that come under the fulcrum of Brand Audit:
Intrinsic Factors of the Brand:
Values
Objectives
Fundamentals
Tone of voice
Logo and mascot
Creative artworks
Copy
Extrinsic Factors of the Brand:
Marketing and sales collaterals
Customer Relationship Management
Employee welfare and motivation
Sales figures
Marketing plan and budgets
Nature of products and services offered
24. Basic elements of the Brand Audit
Brand Communications
Brand Positioning
Brand Strategy
Customer Analysis
Customer Journey
25. Research & Development
R&D is an important means for achieving
future growth and maintaining a relevant
product in the market
26. Types of Research & Development
Basic Research
Applied Research
Development
