Branding power
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The power which brands have in the market and also influence the people to actually consume that product!
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Branding power
- 1. . BR A N D I N G By Njabulo Magubane (201223861) Email: njabulomagubane1@gmail.com Institution: University of Johannesburg
- 3. BRAND –WHAT IS IT? “ A name, term, sign, symbol ,or design or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.”
- 5. BRANDING BRANDING is a strategy used by marketers. Pickton and Broderick (2001) describe branding as Strategy to differentiate products and companies, and to build economic value for both the consumer and the brand owner.
- 8. From Products to Brands Understanding Branding Prod ucts to bran ds Brand Building
- 9. Attributes
- 10. Possibly even a third or a fourth brand..
- 11. Architecture Understanding Branding Brand Building Arc hite ctur e House of Brands Endorsed Brand Sub Brand Branded House Endorsed Brand • Endorsement is used as a device to transfer brand assets from one brand(corporate) to another • Titan from TATA, transferring trust • i-pod, mac from apple
- 12. Architecture Understanding Branding Brand Building Arc hite ctur e House of Brands Endorsed Brand Sub Brand Branded House Sub Brand • Inside out branding. Company pushes core brand in different directions • Sub-branding can destroy what branding builds • Donna Karan menswear, DKNY, DKNY menswear, DKNY kids
- 13. Architecture Immutable Law of Company Brands are brands, companies are companies. There is a difference.
- 14. Architecture Understanding Branding Brand Building Arc hite ctur e Branded house • Consumers buy brands, not companies House of Brands Endorsed Brand Sub Brand Branded House
- 15. Brand Management Guidelines 8 Affix Products & 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. 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. 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. Maximize the Strategic Advantage of the Brand It is important that organizations focus on maximizing the leverage of the brand. 3 2 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. 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. 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
- 16. Objectives In this module, you will learn to: Explain what is a Brand Explain the importance of Brands Describe the attributes of a strong brand Explain what is Brand Management Describe the Purpose of Brand Management Explain the Brand Equity Concept Describe the Strategic Brand Management Process List the Strategic Brand Management Guidelines
- 18. Advertising does a lot to help build brands Every ad contributes to make the brand what it is in the minds of the consumer – David Ogilvy
- 19. > Rs. 2,500.00
- 20. Brand Positioning Positioning a Battle for the Mind Al Ries & Jack Trout Identification, development and communication of a differentiated advantage which makes the product or service to be perceived as superior and distinctive in the prospect’s mind
- 21. Some Positioning Methods By benefit By price v/s quality By use By product user By product class Using culture By competition
- 22. • Brand equity is the added value endowed to products and services
- 24. BRAND is not what it looks like BRAND is how it WORKS.
- 25. Reference List • Ojha, P.K. (2013) Branding. MBA university of Allahabad website: http://www.slideshare.net/PranavKumarOjha/branding -19158339 • Avinash Avi (2013) Branding. Wiseassist. Website: http://www.slideshare.net/AvinashAvi3/branding18187350 • Shiva chinegi (2013) Brand Management Website: http://www.slideshare.net/shivachegini/brandmanagement-28411585
Editor's Notes
- Brand occupies space in the perception of the consumer, and is what results from the totality of what the consumer takes into consideration before making a purchase decision (Pickton and Broderick 2001).So branding is a strategy, and brand is what has meaning to the consumer.
- Brand Equity is the addition of the brand's attributes including reputation, symbols, associations and names. Then the financial expression of the elements of brand equity is called Brand Value.