Building and Managing Brands

Building and Managing Brands

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  Branding Management
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  What is thebrand So what exactly is a brand? FIRST A brand is not a logo. SECOND A BRAND IS A PERSON‟S GUT FEELING ABOUT A PRODUCT, SERVICE, OR ORGANIZATION. It is a PERSON’S gut feeling, because brands are defined by individuals, not companies, markets, or publics. FINALL Y A brand is not a product. IT‟S NOT WHAT YOU SAY IT IS. IT‟S WHAT THEY SAY IT IS.
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  WHY IS BRANDINGSO HOT? People have too many choices and too little time We tend to base our buying choices on trust Most offerings have similar quality and features
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  What is aBrand? On the other hand a name becomes a brand when consumers associate it with a set of tangible and intangible benefits that they obtain from the product or service. Brand is the seller’s promise to deliver the same bundle of benefits/services consistently to buyers. A product is any offering by a company to a market that serves to satisfy customer needs and wants. A product can be an object, service, idea, etc. Brands are not the same as Products. Brand differences are often related to attributes or benefits of product itself. Brand name selecting process may you find trivial but it is not. Some brand names are so good that contribute to the success of product.
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  Brand Elements Brand ElementChoice Criteria Brand names Promise Slogans  Memorable Elements Characters  Meaningful  Likeability Logos Personality  Transferable  Adaptable  Protectable
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  Why do BrandsMatter? Brands have become important drivers of growth for any organization, good or service. B The main reason consumers flock to some brands and ignore others is that behind the brand stands an unspoken promise of value. R A Brand is a promise that the product will perform as per customer’s expectations. A A brand helps make a mark and differentiate a good or service from others in marketplace. A strong brand makes people aware of what the company represents and about the different offerings of the company. N D Brands help customers to connect to the product or service on an emotional level. S
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  Brands for Consumersand Sellers Source of product Lower risk Consumers Less cost of searching for a choice Symbol of Quality Symbolic device The word „Brand‟ signifies different things to consumers and sellers.
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  Brands for Consumersand Sellers Source of product Lower risk Consumers Less cost of searching for a choice Symbol of Quality Symbolic device Consumers can easily make a purchase decision based on brands. Consumers usually find brands which satisfy their need.
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  Brands for Consumersand Sellers Source of product Lower risk Consumers Brands mean lower purchase risk to consumers as they are dealing with a product or organization that they trust. Less cost of searching for a choice Symbol of Quality Symbolic device The word „Brand‟ signifies different things to consumers and sellers.
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  Brands for Consumersand Sellers Source of product Lower risk Consumers Less cost of searching for a choice If the consumers recognize a particular brand and have knowledge about it, they make quick purchase decision and save lot of time. Also, they save search costs for product. Symbol of Quality Symbolic device The word „Brand‟ signifies different things to consumers and sellers.
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  Brands for Consumersand Sellers Source of product Lower risk Consumers Less cost of searching for a choice Symbol of Quality Consumers see ‘brands’ as a symbol of quality and remain committed and loyal to a brand as long as they believe that the brand will continue meeting their expectations and perform in the desired manner consistently. Symbolic device The word „Brand‟ signifies different things to consumers and sellers.
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  Brands for Consumersand Sellers Source of product Lower risk Consumers Less cost of searching for a choice Symbol of Quality Symbolic device Brands play a significant role in signifying certain product features to consumers. The word „Brand‟ signifies different things to consumers and sellers.
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  Brands for Consumersand Sellers Means of Competitive Advantage Seller A brand helps the firms to provide consistently a unique set of characteristics, advantages, and services to the buyers/consumers. Legal protection of products‟ features Satisfied customer Means of Profits The word „Brand‟ signifies different things to consumers and sellers.
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  Brands for Consumersand Sellers Means of Competitive Advantage Seller Legal protection of products‟ features Brands help to protect the unique features/traits of products by legal copyrights. Satisfied customer Means of Profits The word „Brand‟ signifies different things to consumers and sellers.
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  Brands for Consumersand Sellers Means of Competitive Advantage Seller Legal protection of products‟ features Satisfied customer Brand represents values, ideas and even personality and hence leads to an assortment of memories in customers’ mind and hence satisfied customers. Means of Profits The word „Brand‟ signifies different things to consumers and sellers.
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  Brands for Consumersand Sellers Means of Competitive Advantage Seller Legal protection of products‟ features Satisfied customer Means of Profits Brands form the basis of purchase decision among consumers and thus are a means of financial profits. The word „Brand‟ signifies different things to consumers and sellers.
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  Brand positioning BRAND PROMISE 1)Itis the heart of marketing strategy. 2. It is the act of designing the company‟s offer and image so that it occupies a distinct and value place in the target customer minds. 3.How it is unique and how it is similar to competitive brands, and why consumer buy and use it. Redfern is a special place in Sydney and the world. Building on our foundation as the heart of urban Aboriginal Australia, we are alive with art, music, culture and ideas. BRAND ESSENCE Our brand essence is ―Welcoming Spirit‖ Welcoming Means BRAND VALUES Vibrant Diverse Living culture Forward thinking BRAND PURPOSE To champion Redfern as a landmark destination demonstrating respectful and positive transformation; Unique place to live , work , play and learn Open to all – current and future residents Socially responsible Embracing the future with an understanding of the past Addressing fragmentation
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  The Role ofBrands Identify the maker Simplify product handling Organize accounting Offer legal protection Signify quality Create barriers to entry Serve as a competitive advantage Secure price premium
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  What is aBrand Promise?  A brand promise sets an expectation of an experience.  It answers the question – What‟s in it for the customer?  An effective promise is concise, relevant, sells a benefit (not just a feature), and is backed up by the product / service.  In the best case, your brand IS a promise.  Southwest Airlines  Nordstrom‟s  Disney How Are Brand Promises Delivered?   Advertising ◦ Controlled messaging ◦ Aligned messaging  Horizontally - Across media types  Vertically – Up/Down thru Tier 1, II & III Experiential ◦ Branded Lifestyle / Off-line content and programming ◦ Retailer / On-site transaction-based experience ◦ 1 to 1 issue resolution via Consumer Affairs / Help desk
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  What is BrandManagement? Now, that you have learnt about ‘brands’, let us see what is brand management. Brand management is the process of building, managing and improving a brand. It begins by having a thorough knowledge of the term “brand”. Hence, brand management includes developing a promise, making that promise and maintaining it. It means defining the brand, positioning the brand, and delivering the brand. It is an art of creating and sustaining the brand.
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  What is BrandManagement? The tangibles for product brands include the product itself, its The intangibles are made up of characteristics, features, price, the emotional connections with packaging, etc. the product / service. The tangible and intangible characteristics of brand are managed through Brand management. Whereas, in case of service brands, the customers‟ experience forms the tangibles. Branding is assembling of various marketing mix medium into a whole so as to give the product an identity. Thus, you can see that brand management is all about Branding. It is building a brand name that captures the customer‟s mind.
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  Purpose of BrandManagement The main aim of branding is to differentiate a company’s products and services from its competitors. Branding aims to convey a brand message vividly, create customer loyalty, persuade the buyer for the product, and establish an emotional connectivity with the customers and form customer perceptions about the product. Brand management plays a crucial role to form brands. The brand management strategies also provide good support to the brand so that it can sustain itself in long run. Also, through brand management, brands are managed and brand equity is built over a period of time. It helps in building a corporate image. Thus, only a competent brand management system can create a successful brand.
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  Strategic Brand ManagementProcess The Strategic Brand Management Process consists of the following four steps: Strategic Brand Management Process
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  Step 1: Identifying& Establishing Brand Position Identifying and Establishing Brand Position Customer Based Brand Equity Brand Positioning Positioning Guidelines Building a Strong Brand: Four Steps of Brand Building Identify and Establishing Brand Position
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  Step 1: Identifying& Establishing Brand Position Identifying and Establishing Brand Position Customer Based Brand Equity (Keller) Brand Positioning Building a Strong Brand: Four Steps of Brand Building Positioning Guidelines Identify and Establishing Brand Position
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  Step 1: Identifying& Establishing Brand Position Identifying and Establishing Brand Position Brand Positioning The Brand Positioning is further divided into two parts – • Identify and Establishing Brand Position • Positioning Guidelines Brand Positioning Positioning Guidelines Identify and Establishing Brand Position
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  Brand Positioning -Identify and Establishing Brand Position Identify and Establishing Brand Position: Basic Concepts It is necessary to decide: • Who the target consumer is • Who the main competitors are • How the brand is similar to these competitors • How the brand is different from these competitors Target Market The Target Market can be decided based on two considerations: • Segmentation Bases: a) Behavioral b) Demographic c) Psychographic d) Geographic • Segmentation Criteria: a) Identifiability b) Size c) Accessibility d) Responsiveness
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  Brand Positioning -Positioning Guidelines Positioning Guidelines: The following are some of the positioning guidelines that firms should follow for an effective brand positioning: • • • • Defining and Communicating the Competitive Frame of Reference Choosing Points of Parity and Points of Difference Establishing Points of Parity and Points of Difference Updating Positioning Over Time
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  Step 2: Planning& Implementing Brand Marketing Programs Co-branding Leveraging Secondary Brand Associations to Build Brand Equity Licensing Celebrity Endorsement Planning & Implementing Brand Marketing Programs Choosing Brand Elements to Build Brand Equity Options and Tactics for Brand Elements Designing Marketing Programs to Build Brand Equity Channel Strategy Product Strategy Pricing Strategy Criteria for Choosing Brand Elements
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  Step 2: Planning& Implementing Brand Marketing Programs Co-branding Leveraging Secondary Brand Associations Licensing Celebrity Endorsement Planning & Choosing Brand Elements Implementing Elements are sometimes called „Brand Identities‟. Brand Brand Marketing the trademark devices that help to identify They are Programs and differentiate brands. Choosing Criteria for Brand Nike Logo, Kingfisher, the rings of Audi etc. are brand Choosing Elements to Brand elements. Build Brand Elements Equity Choosing Brand Elements to Build Brand Equity is further Options and divided into two parts: Designing Tactics for Brand Elements Elements Choosing Brand Marketing • Criteria for Programs to • Options and Tactics for Brand Elements Build Brand Equity Channel Strategy Product Strategy Pricing Strategy
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  Choosing Brand Elementsto Build Brand Equity Choosing Brand Elements Criteria for Choosing Brand Elements : The following criteria should be met to choose relevant brand elements such as: • Memorability – Easily Recognized, Easily Recalled • Meaningfulness – Descriptive, Persuasive • Likability – Fun and Interesting, Aesthetically Pleasing • Transferability – Within Cross Product Categories, Across Geographical Boundaries and Cultures • Adaptability – Flexible, Updateable • Protectability – Legally Protected, Competitively Protected Criteria for
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  Choosing Brand Elementsto Build Brand Equity Tactics for Brand Elements Options and Options and Tactics for Brand Elements: The following are few options and tactics for Brand Elements: Brand Names: Descriptive brand names in which the function is described literally in brand name. Suggestive brand names in which the name is suggestive of a benefit provided by the brand to the customer. URLs: • Keep the URLs as simple as possible, • Avoid clichés, • Use a new term for the real word • Use catchy phrases Logos and Symbols: Various kinds that can be used • are: Family Shields • Fonts • Symbols • Abstract – shapes and image
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  Choosing Brand Elementsto Build Brand Equity Tactics for Brand Elements Options and Options and Tactics for Brand Elements: The following are few options and tactics for Brand Elements: Characters: Characters can also be used as brand elements. Slogans: Slogans are short phrases that are descriptive or persuasive in nature and provide more info about the brands. Jingles: These are musical slogans that help in reminding by repetition. Examples: The axe song and O Fortuna, the Old Spice Theme Song. Packaging: Packaging is an important brand element. It helps to identify the brand, convey descriptive and persuasive information through labelling allows protection, transportation, storage and consumption of product .
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  Step 2: Planning& Implementing Brand Marketing Programs Co-branding Planning & Implementing Designing Marketing Programs to Build Brand Equity Brand Leveraging Brand Equity can be built by focussing on designing effective Choosing Marketing Secondary marketing programs keeping the following in consideration: Criteria for Brand Programs Choosing Brand •Product Strategy Associations to •Pricing Strategy Build Brand •Channel Strategy Equity Licensing Celebrity Endorsement Designing Marketing Programs to Build Brand Equity Product Strategy Pricing Strategy Elements to Build Brand Equity Options and Tactics for Brand Elements Channel Strategy Brand Elements
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  Designing Marketing Programsto Build Brand Equity Designing Marketing Programs to Build Brand Equity Planning & Implementing Brand Marketing Programs Product Strategy An efficient product strategy would ensure that the product remains updated with the latest features, technology and enhancements and has something extra to offer to the customers. Pricing Strategy An efficient pricing strategy helps companies to best position themselves within the market. Designing Marketing Programs to Build Brand Equity Channel Strategy Channel Strategy Product Strategy Pricing Strategy It involves developing go-to-market plans, educating channel marketers or middlemen about products or services, and motivating the members of the marketing channel to promote products and services. Hence, marketing and sales alignment is critical to an effective channel strategy.
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  Step 2: Planning& Implementing Brand Marketing Programs Co-branding Leveraging Secondary Brand Associations to Build Brand Equity Licensing Celebrity Endorsement Planning & Implementing Brand Marketing Programs Designing Marketing Programs to Build Brand Equity Product Strategy Pricing Strategy Choosing Brand Elements to Build Brand Equity Options and Tactics for Brand Elements Channel Strategy Criteria for Choosing Brand Elements Leveraging Secondary Brand Associations to Build Brand Equity The Leveraging Secondary Brand Associations to Build Brand Equity is further divided into three parts – • Co-branding • Licensing • Celebrity Endorsement
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  Leveraging Secondary Brand Associationsto Build Brand Equity Planning & Implementing Brand Marketing Programs Co-branding Leveraging Secondary Brand Associations to Build Brand Equity Licensing Celebrity Endorsement Leveraging Secondary Brand Associations to Build Brand Equity Co-branding Co-branding occurs when two or more existing brands are combined into a joint product or are marketed together in some fashion. A few examples are: Sony Ericsson, Tata Fiat, SBI GE Licensing Licensing involves contractual arrangements whereby firms can use the names, logos, characters, and so forth of other brands for some fixed fee. A few examples are: Entertainment (Ra1), Television and cartoon characters (Britannia – Tom and Jerry), Celebrity Endorsement Celebrity endorsement helps to draw attention to the brand and to shape the perceptions of the brand. A celebrity should be greatly popular and have a high level of visibility. He or she should also have a rich set of useful associations, judgments, and feelings associated with him/her by the general public.
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  Step 3: Measuring& Interpreting Performance Measuring & Interpreting Brand Performance Qualitative Research Techniques Measuring Sources of Brand Equity Quantitative Research Techniques Brand Value Chain Measuring Outcomes of Brand Equity Developing Brand Equity Measurement & Management Establishing a System Brand Equity Designing Brand Tracking Studies Management System Holistic Methods Comparative Methods
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  Step 3: Measuring& Interpreting Performance Developing a Brand Equity Measurement & Management System Qualitative Research Techniques Measuring & The Developing a Brand Equity Measurement and Management System Interpreting is further divided into three parts – Brand • Brand Value Chain • Performance Tracking Studies Designing Brand Measuring Measuring • Establishing a Brand Equity Management System Comparative Sources of Outcomes of Brand Equity Brand Equity Let us look at each one in detail. Quantitative Research Techniques Brand Value Chain Developing Brand Equity Measurement & Management Establishing a System Brand Equity Designing Brand Tracking Studies Management System Holistic Methods Methods
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  Step 3: Measuring& Interpreting Performance Qualitative Research Techniques Measuring Sources of Brand Equity Measuring Sources of Brand Equity: Capturing Customer Mind-Set There Measuring &are two methods that are used for measuring the sources of brand equity or to Interpreting capture the customer‟s mind-set, which are as Brand follows: Performance Measuring • Qualitative Research Techniques Comparative Outcomes of Methods • Quantitative Research Techniques Brand Equity Let us look at each one in detail. Quantitative Research Techniques Brand Value Chain Developing Brand Equity Measurement & Management Establishing a System Brand Equity Designing Brand Tracking Studies Management System Holistic Methods
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  Measuring Sources ofBrand Equity – Quantitative Research Techniques Awareness Brand awareness is related to the strength of the brand in memory. Brand awareness is reflected by consumers‟ ability to identify various brand elements. The following factors must be taken into consideration while measuring brand awareness: • Recognition: This relates to consumers‟ ability to identify the brand under different circumstances. • Recall: „Unaided recall‟ means the identification with minimal cues. „Aided recall‟ means various cues were used to assist recall. • Corrections for Guessing: The research data collected for measure must consider the issue of consumers „making up‟ responses or „guessing‟. These may affect strategic brand decisions. • Strategic Implications: It is important that researchers understand that recognition and recall is essential in analyzing formation of consideration sets and product decisions made by consumers.
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  Step 3: Measuring& Interpreting Performance Qualitative Research Techniques Measuring Sources of Brand Equity Measuring Outcomes of Brand Equity: Capturing Market Performance There are Measuring & two methods that are used for measuring the outcomes Interpreting of brand equity or to capture the market performance, which are as follows: Brand • Comparative methods Performance Measuring • Holistic methods Comparative Outcomes of Brand Equity Let us look at each one in detail. Quantitative Research Techniques Brand Value Chain Developing Brand Equity Measurement & Management Establishing a System Brand Equity Designing Brand Tracking Studies Management System Holistic Methods Methods
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  Step 4: Growingand Sustaining Brand Equity Brand Architecture Designing and Implementing Branding Strategies Growing and Sustaining Brand Equity Brand Hierarchy New Products and Brand Extensions Managing Brands over Time Introducing & Naming Products and Brand Extensions Advantages of Extensions Revitalising Brands Disadvantage s of Extensions Reinforcing Brands
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  Step 4: Growingand Sustaining Brand Equity Brand Architecture Designing and Implementing Branding Strategies Most brands are part of a wider organization. The Growing and Designing and Implementing Branding Strategies is further Sustaining divided Brand Equity into two parts – Designing and • Brand Architecture Managing Reinforcing Implementing • Brand hierarchy over Brands Branding Strategies Brand Hierarchy New Products and Brand Extensions Brands Time Introducing & Naming Products and Brand Extensions Advantages of Extensions Revitalising Brands Disadvantage s of Extensions
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  Designing and ImplementingBranding Strategies – Brand Architecture Brand Architecture It is the structure and organization of brands. Breadth of a Branding Strategy Breadth of Product Mix: Three factors determine the inherent attractiveness of a product category: 1. Aggregate market factors 2. Category factors 3. Environmental factors Depth of Product Mix: An important rule to remember to decide the depth of the product mix is: “A product line is too short if the manager can increase long-term profits by adding items; the line is too long if the manager can increase profits by dropping items”. Depth of a Branding Strategy: Flankers: Flanker brands are used to create stronger points of parity with competitors‟ brands. Cash Cows: In firms, there are some brands that retain loyal customers and generate healthy profits with virtually no market support. Low-end Entry-level / High-end Prestige Brands: The first category low-end entrylevel are called “traffic builders” and they are able to “trade up” customers to the higher-priced brands.
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  Designing and ImplementingBranding Strategies – Brand Hierarchy Brand Hierarchy It is a means of summarizing the branding strategy by displaying the number and nature of common and distinctive brand elements across the firm‟s products. It helps to reveal the explicit ordering of brand elements. Potential Levels of Brand Hierarchy: A simple representation of possible brand elements and thus, potential levels of a brand hierarchy might be as follows: 1. Corporate brand e.g. Chrysler-Daimler 2. Family brand e.g. Mercedes-Benz 3. Individual Brand e.g. 1000 SEL 4. Modifier (designating item or model) LX / VX Brand Hierarchy Built within a Firm: Brand hierarchy is a means of summarizing the branding strategy by displaying the number and nature of common and distinctive brand elements across the firm‟s products. It helps to reveal the explicit ordering of brand elements. Let us now look at how brand hierarchy can be built within a firm. This can be done in two ways: By Building Equity at Different Hierarchy Levels By Creating Corporate Image Dimensions
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  Step 4: Growingand Sustaining Brand Equity Brand Architecture Introducing and Naming New Products and Brand Extensions The Introducing and Naming New Products and Brand Extensions is Growing and further divided into three parts – Sustaining • New Products and Brand Extensions Brand Equity • Advantages of Extensions Designing and Managing Reinforcing Implementing • Disadvantages of Brand Extensions Brands over Time Branding Strategies Brand Hierarchy New Products and Brand Extensions Introducing & Naming Products and Brand Extensions Advantages of Extensions Revitalising Brands Disadvantage s of Extensions Brands
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  Step 4: Growingand Sustaining Brand Equity Managing Brands over Time Brand Architecture Designing and Implementing Branding Strategies Growing is very important to understand the long term effects of It and Sustaining marketing activities on the brand equity. Firms should Brand Equity consider the consumer response to past carefully Brand Hierarchy New Products and Brand Extensions Managing marketing activities, the brand awareness and image, as Reinforcing Brands over well as the customer response to current marketing Brands activities and toTime the response to future activities. predict Analyzing this information will help firms to manage the brands over a long period of time. There are various Revitalising Introducing strategies that are used to manage the brands over a long Brands & Naming of time which are as follows: period Products Reinforcing Brands • and Brand • Re-vitalising Brands Extensions Advantages of Extensions Disadvantage s of Extensions
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  Brand Management Guidelines 8 AffixProducts & Services An effective strategy of brand management is to ensure that the brand is associated to the most popular products and services offered by the licensee’s products and services. 7 6 Decide about License Agreements: The decision of whether the license agreement should be exclusive or non–exclusive will have important implications for all of the business. Establish and Maintain the Brand It is necessary that for establishing and maintaining a brand, a holistic approach, or an “overall brand strategy” is used. Enforce Key Provisions through License agreements Enforcing various important concerns such as quality control standards and reporting standards can be done through a properly charted out license agreements. 5 4 Select Proper License Partners The profile of the ideal license partner should be developed and the focus should be to ensure long-term relationships with the licensors and licensees. Actively Integrate the Brand Management Strategy into Product Development and Launch Activities It is important that the Companies actively integrate the brand strategy into product development and launch activities by using a clear and proactive strategy. Maximize the Strategic Advantage of the Brand It is important that organizations focus on maximizing the leverage of the brand. 3 2 1 Maintain Consistency between the Brand Strategy and Overall Business Goals The brand strategy should be in line with the overall business goals of the organization. The following key points provide some strategic brand management guidelines that should be
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  Brand Strategy Defined The brand strategy should influence the total operation of a business to ensure consistent brand behavior in the marketplace and consistent brand experiences for the customer. Trends Motivations/”Sweet spots” The purpose of a brand Decision-making process/criteria strategy is to provide a plan Higher level benefits for the systematic Image/Identity gaps development of a strong New Segments coherent brand in order to Unmet needs enhance revenue and profits. The strategy should be driven Where to Find Insights by the principles of differentiation and sustained The purpose of a target insight is to consumer appeal. describe how a meaningful connection can be established between what the brand offers and the target‟s explicit or implicit needs in order to help identify a relevant brand promise.
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  Branding Core Brand Internal Living the brand Operations Whoare you Core values, core purpose, core attributes and business model Positioning Definition of your customers, competitors, differentiation and brand touch points Product/service design, Systems and procedures and brand culture maintenance Identity Your brand name, Brand design standards, and key touch point concepts Communication External Marketing plan Marketing Core Brand Website, Collateral, Packaging, PR, Advertising, Environments, Interactive, Media, etc.
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  53 Brand Strategy andMarketing Strategy Brand Strategy is an integral part of the overall strategic marketing process. It helps to bridge the gap between business strategy and marketing strategy.  Brand Strategy is separate from the 4P‟s. It guides and inform decisions about every aspect of the marketing mix. Strategic Marketing Process I. Corporate Objectives & Brand Portfolio II. Marketing Objectives III. Brand Strategy Communications Strategy Product and Pricing Strategy Channel and Distribution Strategy IV. Marketing Execution & Monitoring
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  Brand Strategy Process Theprocess of creating a brand strategy begins with a brand audit and ends with a plan for executing the brand across all touch points. It can be generally thought of as having three stages.. Brand Audit Competitive Brand Assessment Inventory Points of Parity and Difference Target & Insight Brand Strategy Equity Pyramid Positioning Personality Objectives & Metrics Brand Execution Brand Elements Communications Strategy Brand Experience Map CRM & Community Building
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  Insights Examples  Mastercard“Priceless” campaign  “What we found was that people buy things because of how those things make them feel… So the idea is that the item allows you to get to some other place in your life that makes you feel good.”  National Youth Anti-Drug Program “Above the Influence” campaign  “We wanted to elevate the conversation to make it more „pro-me‟ than anti-drug. We know teens are very sensitive to influences, positive and negative, from peers and the media. That‟s why we positioned it so teens would see influence as the enemy and marijuana as one of the influences that gets in their way. It‟s a way of empowering them so they can stand on their own at a key moment of choice – seeing that they could be above the influence.”
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  Points of Parityand Difference Potential Brand Differences Wants and Needs Consumers Our Brand PODs Competitive Brand Differences POPs • Points of Parity (Category Benefits) Their PODs Competition The purpose of a POD‟s analysis is to identify what ideas from our brand and competitive brands are most meaningful and potentially differentiating. The purpose of a POP‟s analysis is to identify which category benefits are critical for
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  Brand Pyramid The purposeof the brand equity pyramid is to outline the basic building blocks of a what the brand should stand for in order to guide the process of building brand equity. It is the basis for determining key elements of the brand strategy – brand vision, brand positioning, and brand personality and brand measurement. Brand Equity Pyramid Relationship Resonance Response Consumer Judgments Consumer Feelings The model was developed by Kevin Keller, professor of brand strategy at Dartmouth, based on his „Customer Based Brand Equity Model‟ (CBBE). Keller is the author of two definitive texts on brand building. The pyramid is just one of 4-5 leading representations of the components of brand equity. Other models include Y&R‟s Brand Asset Valuator, Millward Brown‟s BrandDynamics model, etc. While each model has its adherents, upon closer scrutiny, they are all very similar in their content and purpose. Whichever is selected, what is important is that it provide a shared basis for understanding what is meant by „brand equity‟ and how this construct applies to your brand. Meaning Brand Imagery Brand Performance Identity Salience
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  Brand Positioning The purposeof brand positioning is to explain how the brand will create a sustainable competitive advantage in the minds of prospects & customers in order to win loyal customers and ensure revenue and profits. For (Target), (Brand/Company) is the only/best (consumer frame of reference) that (statement of key benefit or guiding value), because/by (reason to believe, key credibility point). Evaluation Criteria: Brand Fit, Customer Relevance, Uniqueness, Sustainability, Credibilit
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  Positioning Building Blocks  Homeowners/Businessowners  Adults 35+; HHI $50,000+  Experiencing ----- BENEFIT SUPPORT  Product quality or value  Most Reputable Company  Service or delivery difference Category definition  Aware of ------   Need state or problem
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  Branding stage Brand Strateg y Vision Design Conception Launch Production
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  Branding and StageGate Process 3. Analyze competition and environment to identify branding opportunity 1. Identify goals that branding can address Ideation Gate 1 5. Preliminary evaluation of brand Detailed Preliminary Gate Gate Development Gate investigation 3 investigation 2 4 Testing and validation 6. Full evaluation of brand Gate 5 Full product and market launch PIR Postimplementation review Initial screen Second screen 2. Map existing brand culture Decision on business case Postdevelopment review 4. Design brand strategy Precommunication business analysis Advertising public relations corporate communications pricing promotions personal selling channels/ retail Your
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  Branding and StageGate Process 3. Analyze competition and environment to identify branding opportunity 1. Identify goals that branding can address Ideation Gate 1 5. Preliminary evaluation of brand Detailed Preliminary Gate Gate Development Gate investigation 3 investigation 2 4 Testing and validation 6. Full evaluation of brand Gate 5 Full product and market launch PIR Postimplementation review Initial screen Second screen 2. Map existing brand culture Decision on business case Postdevelopment review 4. Design brand strategy Precommunication business analysis Advertising public relations corporate communications pricing promotions personal selling channels/ retail Your
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   An “InsideOut” Look At Brand  Opportunities and Vulnerabilities Strategic Brand Assessment
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  Most marketers havea good “Outside In” perspective on their brands. Awareness Trial Penetration Consumer Attitudes Brand Ratings Preference Scores All important measures of marketing effectiveness. An “Inside Out” Perspective The Strategic Brand Assessment delivers an “Inside Out” perspective by providing insights and perceptions From three critical audiences: Executives, Employees, Channel Partners Increasingly, the success of a brand is not just the result of well crafted marketing But… programs. Strong brands are those that have achieved alignment of values with both internal and external audiences. Think: Starbucks, Southwest Airlines, Google, Nordtrom’s. A strong brand is the result of effective marketing plus: Corporate vision. Culture and Structure. Internal Communications. Management. Customer Services…
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  BRAND EQUITY A brandis a name or symbol used to identity the source of the product. The brand can add significant value when it is well recognized and has positive associations in the mind of the consumer. This concept is known as brand equity. PERSPECTIVES OF BRAND EQUITY  Financial  Brand extension  Consumer based Brand is an intangible asset that produces added benefits for the business. This is the domain of strategic brand management : how to create value with brand management. • Loyalty (price premium, satisfaction). • • NEED FOR BRAND EQUITY Values of brand equity ? Value to the customer ? Value to the firm ? Perceived quality (popularity). Association (brand personality, organizational association). • Awareness (brand awareness). • Market behavior (market share).
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  Brand equity is aset of brand assets and liabilities linked to a brand Earning wealth and recognized through the power of brand name or symbol. NEED FOR BRAND EQUITY A brand is a name or Values of brand equity ? symbol used to identity the source of the Value to the customer ? product. The brand can add significant value  when it is well recognized Value to the firm ? and has positive associations in the mind  of the consumer. This concept is known as  brand equity. PERSPECTIVES OF BRAND EQUITY Financial Brand extension Consumer based
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  Elements of BrandEquity: Brand Strategy Brand Loyalty Brand Awareness Developing Brand Vision Perceived Quality Establishing Brand Position Brand Associations Fulfilling Brand Contract Measuring Brand Loyalty Communicating Brand Position • Purchase Behavior Patterns • Switching Cost Analysis • Satisfaction Measurement Strategic Value of Brand Loyalty • • • Reduce marketing cost Trade (channel distribution) leverage Attracting new customers
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  ASPECTS OF BRANDEQUITY Brand Brand awareness Brand association Brand loyalty Brand position Brand proposition Brand equity MEASURING BRAND EQUITY
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  What are therespective brand images? Healthy, rejuvenating “miracle elixir”, for people on the go, status symbol (you want to be seen with Vitamin Water) What perceptions does the brand seek to establish? What does the brand stand for? (brand essence) • • Health, vitality, enhanced water, enhanced lifestyle, trendy “Not your ordinary bottled water” “Hydration for every occasion” – tagline There is a new kid on the block – a delicious, nutritious, flavoured water – one for every “need”
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  Brand Equity Concept BrandEquity is the value, both tangible and intangible, that a brand adds to a product/service; the added value a brand name identity brings to a product or service beyond the functional benefits provided. Brand Equity Customerbased The customer – based brand equity focuses exclusively on the relationship customers have with the brand The concept of brand equity is measured in two terms: Market based The market – based brand equity aims at producing measures in dollars, euros or yen.
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  Brand Equity Concept Youcan see that when a commodity becomes a brand, it is said to have equity. Brand equity is the premium a brand can command in the market or the difference between the perceived value and the intrinsic value. Brand equity can be thought of as the "added value" endowed to a product in the thoughts, words, and actions of consumers. There are many different ways that this added value can be created for a brand. Therefore, it is important that Brand Equity should be nourished and replenished.
• 72.
  Brand Equity Concept Companiesmust take care of its brands so that the brand equity is not diluted or dissipated. A few examples of products with excellent brand equity include Google, Nike and Starbucks. Let us now look at the process of building brands.
• 73.
  Measuring Brand Equity Stepsin Calculating Brand Equity Brand Audits Brand Tracking Brand Valuation
• 74.
  WHAT IS BRANDEQUITY Awareness Loyalty Preference Availability Familiarity Image and personality Associations
• 75.
  Building a StrongBrand a great product
• 76.
  Building a StrongBrand a great product brand image
• 77.
  Building a StrongBrand a great product brand image customer experience
• 78.
  Building a StrongBrand GREAT PRODUCT a great product BRAND IMAGE CUSTOMER EXPERIENCE brand image customer experience
• 79.
  Building a StrongBrand GREAT PRODUCTS BRAND IMAGE CUSTOMER EXPERIENCE CUSTOMER-CENTRIC MARKET STUDY
• 80.
  Building a StrongBrand GREAT PRODUCTS BRAND IMAGE CUSTOMER EXPERIENCE CUSTOMER-CENTRIC MARKET STUDY MARKETING SUPPORT AND PEOPLE DEVELOPMENT
• 81.
  High Brand Equity GREAT PRODUCTS BRAND IMAGE #1 CUSTOMER EXPERIENCE CUSTOMER-CENTRICMARKET STUDY MARKETING SUPPORT AND PEOPLE DEVELOPMENT
• 82.
  BRAND BUILDING PRINCIPALS HighLoyalty 2. Brandz 1. Brand Asset Valuator  Differentiation  Energy  Relevance  Esteem  Knowledge Bonding Advantage Performance Relative Presence Low Loyalty
• 83.
  Building brand equity Adv Personnel selling Brand awareness Sales prom Brand Image Event Experience Marketing communication programs Brandequity Brand responses PR Brand relationships Direct Marketing Word of mouse
• 84.
  Measuring Brand Equity
• 85.
  Measuring Brand Equity Strength Differentiation TheBrand's unique points of difference relates to premium margins Strength Relevance How appropriate the brand to you relates to market penetration Esteem Knowledge How well regarded the brand is relates to its delivery on promise A deep understanding of the brand relates to overall customer experience
• 86.
  What makes aBrand Strong? It is important that in order to make a strong impact, a brand should be strong. There are a few characteristics that make a „strong‟ brand, which are as follows: A strong brand is a major driver of shareholder value. A strong brand is like an asset. It can be used as collateral for financial loans , buying and selling as an asset. A strong brand has strong attributes, values and personality that the consumers associate with the brand. A strong brand is a means of attaining higher customer loyalty. A strong brand always delivers the benefits that customers truly desire. A strong brand makes use of and coordinates full range of marketing activities to build equity. A strong brand has the right blend of product quality, design, features, costs and prices. A strong brand is properly positioned and occupies a particular niche in consumers' minds. A strong brand compels consumers to willingly pay a substantial and consistent premium price for the brand versus a competing product and service.
• 87.
  Gillette as aStrong Brand Gillette is one of the strongest brands in the market of men‟s personal care products. It has tied the actual quality of its products to various intangible factors such as: User Imagery The type of person who uses Gillette, the type of situations in which the brand is used, the type of personality Gillette portrays etc. Technology Its razor blades are as technologically advanced as possible through continuously spending millions of dollars in R&D. Sub-branding It has developed several sub brands such as Trac II, Altra, Sensor, Mach3 to remain on top of its competitors. Enhancements It makes constant improvements with modifiers like Altra Plus, Sensor Excel.
• 88.
  Insight about branding
• 89.
  Disney Wal – Mart Fedex McDonalds Apple Google Toyota FamilyFun Entertainment Low Prices and Good Values Guaranteed Overnight Delivery Food and Fun Innovation Simplicity Reliability
• 90.
  Some Metrics toMeasure Return on Brand Investment: • • Brand name knowledge, awareness, recognition, recall: measures strength of the brand as reflected by customer's ability to identify the brand under varying conditions Contract fulfillment: measures the degree to which your brand is upholding its Brand Contract Some Metrics to Measure Return on Brand Investment: Acquired customers: counts customers claiming they have come to your company based on the strength of the brand • Customer loyalty: measures the degree to which customers continue to purchase your brand and how long that loyalty has lasted • Financial value: reports the financial value of your brand in the marketplace • Price premium: finds the percentage of price premium your brand is able to command over private-label brands, as well as key competitor brands
• 97.
  Definition  The MarketingCommunications Mix  The specific mix of advertising, personal selling, sales promotion, and public relations a company uses to pursue its advertising and marketing objectives. Introduction to Marketing Communications (Marcom) Integrated Marketing Communication (IMC) Programs Business-to-Consumer (B2C) Business-to-Business (B2B) Integrated Marcom B2C&B
• 98.
  Table 1.1 The Toolsof Marketing Communications 1. Media Advertising • TV • Radio • Magazines • Newspapers 2. Direct Response and Interactive Advertising • Direct mail • Telephone solicitation • Online advertising 3. Place Advertising • Billboards and bulletins • Posters • Transit ads • Cinema ads 4. Store Signage and Point-ofPurchase Advertising • External store signs • In-store shelf signs • Shopping cart ads • In-store radio and TV 5. Trade- and Consumer-Oriented Promotions • Trade deals and buying allowances • Display and advertising allowances • Trade shows • Cooperative advertising • Samples • Coupons • Premiums • Refunds/rebates • Contests/sweepstakes • Promotional games • Bonus packs • Price-off deals 6. Event Marketing and Sponsorships • Sponsorship of sporting events • Sponsorship of arts, fairs, and festivals • Sponsorship of causes 7. Marketing-Oriented Public Relations and Publicity 8. Personal Selling
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  Marketing Communications Mix Word-ofMouth Advertising Directand Interactive Marketing Events and Experiences Public Relations and Publicity Sales Promotion Sales Force
• 100.
  Integrated Marketing Communications Clarity Consistency MaximumImpact Advertising Direct Response Integrated Marketing Communications Sales Force Events and Experiences A planning process designed to assure that all brand contacts received by a customer or prospect for a product, service or organization are relevant to that person and consistent over time.