Chap011
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Branding strategy is an integral part of product development. A brand identifies a seller's goods and differentiates them from competitors. Brands play roles for customers by conveying information, educating, and reassuring; for companies by offering legal protection and categorization; and for competitors by providing benchmarks. Strong brands have high brand equity, which adds value for firms and customers. Packaging, labeling, warranties, and service agreements are essential brand elements that build customer confidence in the brand.
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This brand power is not created overnight. There are multiple factors that play pivotal roles to synergize for creation of a powerful brand image.
This is why some brands eventually evolve to be termed as GENERIC BRANDS because they become synonyms to the product/ service they manufacture.
The key point for all such companies is to create the right perception of their brand amongst their target audience. It’s all about settling down in the minds of the people.
The tools and methods applied to satisfy the customers may be many, but the ultimate goal is always constant.
As a result, the brand of the company becomes its most valuable asset.
A generic brand, also known as a genericized trademark or proprietary eponym, is a trademark or brand name that has become the generic name for, or synonymous with, a general class of product or service, against the usual intentions of the brand's owner. Using a genericized trademark to refer to the general form of what that brand represents is a form of metonymy.
A brand is said to become genericized when it began as a distinctive product identifier but has changed in meaning to become generic. A brand typically becomes "genericized" when the products or services with which it is associated have acquired substantial market dominance or mind share such that the primary meaning of the genericized brand becomes the product or service itself rather than an indication of source for the product or service. A trademark thus popularized has its legal protection at risk in some countries such as the United States and United Kingdom, as its intellectual property rights in the trademark may be lost and competitors enabled to use the genericized brand to describe their similar products, unless the owner of an affected brand works sufficiently to correct and prevent such broad use.
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This document discusses branding strategies and brand architecture. It defines different types of brands like corporate brands, family brands, and individual brands. It also defines brand modifiers. The document discusses different brand architecture structures like monolithic, endorsed, and independent brands. It provides examples of each structure and discusses their advantages and disadvantages. The key points are that brand architecture should reflect business strategy, be simple, flexible, consistent with brand values, and designed for customer needs.
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Umbrella branding involves marketing multiple related products under a single brand name to leverage the equity and reputation of the core brand. Amul and Nivea are examples of successful umbrella brands - Amul markets various dairy products under its core brand while Nivea markets cosmetic products across over 150 countries. The benefits of umbrella branding include lower marketing costs, easier launch of new products, and a common brand identity that helps customers recognize related products. However, unique identities of individual products may suffer and the brand faces risks if any single product fails. Customers ultimately care most that products meet their specific needs rather than just sharing a parent brand.
Co-branding
Co-branding involves associating two or more brands together on a single product or service. There are several types of co-branding arrangements, including ingredient co-branding where one brand provides a component to another brand's product, promotional co-branding through endorsements, and value chain co-branding through partnerships along the product development process. Co-branding can benefit both brands by reducing costs, enhancing consumer loyalty, and reaching new audiences, but it also carries the risk of potential issues with one brand negatively impacting the other. Examples of successful co-branding partnerships include Adidas with Polar Electro, Apple with Nike, and MasterCard with Virgin.
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http://www.welingkaronline.org/distance-learning/online-mba.html
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This document discusses branding strategies and brand architecture. It defines different types of brands like corporate brands, family brands, and individual brands. It also defines brand modifiers. The document discusses different brand architecture structures like monolithic, endorsed, and independent brands. It provides examples of each structure and discusses their advantages and disadvantages. The key points are that brand architecture should reflect business strategy, be simple, flexible, consistent with brand values, and designed for customer needs.
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The document discusses criteria for choosing effective brand elements to build brand equity, including memorability, meaningfulness, likability, transferability, adaptability, and protectability. It provides examples of how brand names, logos, slogans, and characters can enhance brand awareness and create unique brand associations for companies like KFC, Apple, and Skype. Guidelines are presented for selecting brand names that are simple, meaningful, and distinctive, as well as procedures for developing, researching, and registering new names to maximize branding objectives.
Kotler14e ippt ch9
The document discusses branding and brand equity. It covers key topics such as:
- The definition of a brand and how brands create value for companies and consumers.
- What brand equity is and how it is built through strong brand knowledge, preferences, and loyalty over time.
- The four main steps in strategic brand management: positioning, marketing, measuring performance, and sustaining value.
- Models for measuring brand equity such as brand value, awareness, and emotional connections to the brand.
- How brands are managed through reinforcement, revitalization, and architecture strategies to maintain and grow their value.
Chap009
This document provides an overview of strategic brand management. It discusses challenges in building strong brands, analyzing brand performance, and strategies for managing products and brands, including leveraging brands. The key aspects of strategic brand management are establishing brand identity, implementing identity, analyzing brand equity, and managing the brand portfolio to create long-term brand value.
Types of brand
This document discusses branding and brand valuation. It defines what brands are, their importance for differentiation and customer loyalty. Strong brands have high brand equity and positive brand image. The document also discusses types of brands like manufacturers' brands and private labels. It notes Coca-Cola as the most valuable brand according to Interbrand's valuation methodology, which discounts projected brand earnings based on risk factors to determine net present brand value.
Ch9 Creating Brand Equity afcajayon
This chapter discusses brands, brand equity, and managing brand equity. It defines a brand and explains the role of brands for both consumers and firms. Brand equity is defined as the added value provided to products/services based on consumers' thoughts, feelings, and actions towards the brand. Models for measuring brand equity are presented. Building brand equity involves choosing brand elements, integrated marketing activities, leveraging secondary associations, and internal branding. Brand equity is measured both directly through consumer responses and indirectly through brand knowledge. Managing brand equity requires reinforcement as well as revitalization strategies to keep the brand moving forward.
INTRODUCTING AND NAMING NEW PRODUCTS AND BRAND EXTENSIONS
Concept of Brand, Brand Evolution, Brand Hierarchy, Brand
Image, Brand Identity – Perspectives, Levels & Prism.
Brand Personality, Brand Positioning, Brand Repositioning,
Brand Equity, Types of Branding – Product, Line, Range,
Umbrella & Endorsement Branding.
Brand Creation, Brand Product Relationship, Brand
Portfolio, Brand Elimination, Brand Revitalization
Managing Brands, Brand Extensions, Financial Aspects of
Brands
Branding in different sectors – Retailers, Industrial, Services,
& high-tech products.
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Chap011
- 1. 11 THE PRODUCT EXPERIENCE: BUILDING THE BRAND Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved McGraw-Hill/Irwin
- 2. LEARNING OBJECTIVES Recognize the essential elements in a brand Learn the importance of brand equity in product strategy Explain the role of packaging and labeling as critical brand elements Define the responsibility of warranties and service agreements in building consumer confidence 11-2
- 3. BRAND: THE FUNDAMENTAL CHARACTER OF A PRODUCT A brand is “a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or groups of sellers and to differentiate them from those of competitors”. 11-3
- 4. Brands play many roles Branding strategy is an integral part of the product development process because companies know that successful new products result from a well conceived branding strategy. 11-4
- 5. Brands play many roles Customer Brand Roles The brand conveys information about the product. Brands educate the customer about the product. Brands help reassure the customer in the purchase decision. 11-5
- 6. Brands play many roles Company Brand Roles Brands offer legal protection for the product through a trademark. Brands offer an effective and efficient methodology for categorizing products. 11-6
- 7. Brands play many roles Competitor Brand Roles Market leading brands provide competitors with a benchmark against which to compete. 11-7
- 8. The Boundaries of Branding A good branding strategy will not overcome a poorly designed product that fails to deliver on the value proposition. Counterfeit products or illegal activities conducted under the name of another company’s brand can do significant damage to the brand. There must be real, identifiable and meaningful differences among products in the market space. 11-8
- 9. BRAND EQUITY – OWNING A BRAND Defining Brand Equity “a set of assets (and liabilities) linked to a brand’s name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm or that firm’s customers.” 11-9
- 10. BRAND EQUITY – OWNING A BRAND Defining Brand Equity 11-10
- 11. The Most Valuable Brands in the World EXHIBIT 11.4 Source: Business Week, August 6, 2007, http://bwnt.businessweek.com/interactive_reports/top_brands/ 11-11
- 12. BRANDZ™ Top 10 (value in $million): McGraw Hill/Irwin Copyright © The McGraw Hill Companies, Inc. All rights reserved 12
- 13. BRAND EQUITY – OWNING A BRAND 11-13
- 14. BRANDING DECISIONS Stand Alone or Family Branding Stand alone brands separate the company from the brand which insulates the company if there is a problem with the brand. Family branding advantages and disadvantages are just the opposite. 11-14
- 15. Example of Stand Alone Brand McGraw Hill/Irwin Copyright © The McGraw Hill Companies, Inc. All rights reserved 15
- 16. Example of Family Branding McGraw Hill/Irwin Copyright © The McGraw Hill Companies, Inc. All rights reserved 16
- 17. Brand, Line, and Category Extensions 11-17
- 18. BRANDING DECISIONS National or Store Branding National brands that are sold around the country under the same brand. Store brands are when large retailers create a store brand to market their own products. 11-18
- 19. National Vs. Store Brand McGraw Hill/Irwin Copyright © The McGraw Hill Companies, Inc. All rights reserved 19
- 20. BRANDING DECISIONS Licensing Companies can also choose to extend their brand by licensing – offering other manufacturers the right to use the brand in exchange for a set fee or percentage of sales. 11-20
- 21. BRANDING DECISIONS Co-Branding Co-branding joins two or more well known brands in a common product or takes two brands and markets them in partnership. 11-21
- 22. Co-Branding McGraw Hill/Irwin Copyright © The McGraw Hill Companies, Inc. All rights reserved 22
- 23. PACKAGING AND LABELING: ESSENTIAL BRAND ELEMENTS Package Objectives 11-23
- 24. PACKAGING AND LABELING: ESSENTIAL BRAND ELEMENTS Effective Packaging Aesthetics Harmonizes with All Marketing Mix Elements 11-24
- 25. PACKAGING AND LABELING: ESSENTIAL BRAND ELEMENTS Labeling 11-25
- 26. WARRANTIES AND SERVICE AGREEMENTS: BUILDING CUSTOMER CONFIDENCE General warranties make broad promises about product performance and customer satisfaction. Specific warranties, on the other hand, offer explicit product performance promises related to components of the product. 11-26
- 27. WARRANTIES AND SERVICE AGREEMENTS: BUILDING CUSTOMER CONFIDENCE Warranties help define the brand Cost versus benefit Conveys a message to the customer 11-27
- 28. Thank You, Please Visit Us At : http://wanbk.page.tl