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1.  Brand
 A name, term, sign, symbol, or design, or a combination of
them, to identify goods and services a seller or group and
to differentiate them from competition.
 Brand elements
 Name, Term, Sign, Symbol, Design, or Combination!
 Product
 Anything we can offer to a market for attention,
acquisition, use, or consumption that might satisfy a need
or want.
 Examples of products
 Physical good, a service, a retail outlet, a person, an
organization, a place, or even an idea.
 Five Levels of Product Meaning
 Core Benefit, Generic Product, Expected Product,
Augmented Product, and Potential Product
 Core Benefit Level
 Level 1. The fundamental need or want that consumers
satisfy by consuming the product or service.
 Generic Product Level
 Level 2 . Basic version of the product containing only
those attributes or characteristics absolutely necessary
for its functioning but with no distinguishing features.
This is basically a stripped-down, no-frills version of the
product that adequately performs the product function.
 Expected Product Level
 Level 3. A set of attributes or characteristics that buyers
normally expect and agree to when they purchase a
product.
 Augmented Product Level
 Level 4. Includes additional product attributes, benefits,
or related services that distinguish the product from
competitors.
 Potential Product Level

2.  Level 5. Includes all the augmentations and
transformations that a product might ultimately undergo
in the future.
 Why is a brand more than a product
 It can have dimensions that differentiate it in some way
from other products designed to satisfy the same need
 Why brand?
 Harder to break through the clutter, Increased
competition, Capacity exceeds demand, Parity in
product/service offerings, Rapid imitation of
differentiating advantages, More sophisticated customers,
Financial performance does not guarantee long-term
success!
 Importance of Brands to Consumers
 Identification of the source of the product, Assignment of
responsibility to product maker, Risk reducer, Search cost
reducer, Promise, bond, or pact with product maker,
Symbolic device, Signal of quality!
 Product Consumer Risks
 Functional, Physical, Financial, Social, Psychological,
Time!
 Importance of Brands to Firms
 Identification to simplify handling or tracing, Legally
protecting unique features, Signal of quality level,
Endowing products with unique associations, Source of
competitive advantage, Source of financial returns!
 Can everything be branded?
 YES! Even commodities.
 What is branded?
 Physical goods, Services, Retailers and distributors,
Online products and services, People and organizations,
Sports, arts, and entertainment, Geographic locations,
Ideas and causes!
 Sources of Brand Strength

3.  Vision & Will. Any brand—no matter how strong at one
point in time—is vulnerable, and susceptible to poor
brand management.
 Branding Challenges/Opportunities
 Savvy customers, Brand proliferation, Media
fragmentation, Increased competition, Increased costs,
Greater accountability!
 The Brand Equity Concept
 No common viewpoint on how it should be conceptualized
and measured, it is defined in terms of the marketing
effects that are uniquely attributable to the brand.
 Brand Equity
 Because of brands, a product or service could have
different outcomes in the marketplace than if it did not
have a brand
 Strategic Brand Management
 Involves the design and implementation of marketing
programs and activities to build, measure, and manage
brand equity.
 Strategic Brand Management Process
 ID'ing/establishing positioning/ values
2. Planning/implementing marketing programs
3. Measuring/ interpreting performance
4. Growing/sustaining brand equity
 Brand Equity Measurement System
 A set of research procedures designed to provide timely,
accurate, and actionable information for marketers sothat
they can make the best tactical decisions in the short run
and the best strategic decisions in the long run.
 Brand Audit
 A comprehensive examination of a brand to assess its
health, uncover sources of equity, and find ways to
improve and leverage the equity.