Chap011

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Chap011

  1. 1. 11<br />THE PRODUCT EXPERIENCE: BUILDING THE BRAND<br />Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved<br />McGraw-Hill/Irwin<br />
  2. 2. LEARNING OBJECTIVES<br />Recognize the essential elements in a brand<br />Learn the importance of brand equity in product strategy<br />Explain the role of packaging and labeling as critical brand elements<br />Define the responsibility of warranties and service agreements in building consumer confidence<br />11-2<br />
  3. 3. BRAND: THE FUNDAMENTAL CHARACTER OF A PRODUCT<br />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”. <br />11-3<br />
  4. 4. Brands play many roles<br />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.<br />11-4<br />
  5. 5. Brands play many roles<br />Customer Brand Roles<br />The brand conveys information about the product. <br />Brands educate the customer about the product. <br />Brands help reassure the customer in the purchase decision. <br />11-5<br />
  6. 6. Brands play many roles<br />Company Brand Roles<br />Brands offer legal protection for the product through a trademark. <br />Brands offer an effective and efficient methodology for categorizing products. <br />11-6<br />
  7. 7. Brands play many roles<br />Competitor Brand Roles<br />Market leading brands provide competitors with a benchmark against which to compete. <br />11-7<br />
  8. 8. The Boundaries of Branding<br />A good branding strategy will not overcome a poorly designed product that fails to deliver on the value proposition. <br />Counterfeit products or illegal activities conducted under the name of another company’s brand can do significant damage to the brand. <br />There must be real, identifiable and meaningful differences among products in the market space. <br />11-8<br />
  9. 9. BRAND EQUITY – OWNING A BRAND<br />Defining Brand Equity<br />“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.” <br />11-9<br />
  10. 10. BRAND EQUITY – OWNING A BRAND<br />Defining Brand Equity<br />11-10<br />
  11. 11. The Most Valuable Brands in the World<br />EXHIBIT 11.4<br />Source: Business Week, August 6, 2007, http://bwnt.businessweek.com/interactive_reports/top_brands/<br />11-11<br />
  12. 12. BRANDZ™ Top 10 (value in $million):<br />McGraw Hill/Irwin Copyright © The McGraw Hill Companies, Inc. All rights reserved<br />12<br />
  13. 13. BRAND EQUITY – OWNING A BRAND<br />11-13<br />
  14. 14. BRANDING DECISIONS<br />Stand Alone or Family Branding<br />Stand alone brands separate the company from the brand which insulates the company if there is a problem with the brand.<br />Family branding advantages and disadvantages are just the opposite.<br />11-14<br />
  15. 15. Example of Stand Alone Brand <br />McGraw Hill/Irwin Copyright © The McGraw Hill Companies, Inc. All rights reserved<br />15<br />
  16. 16. Example of Family Branding <br />McGraw Hill/Irwin Copyright © The McGraw Hill Companies, Inc. All rights reserved<br />16<br />
  17. 17. Brand, Line, and Category Extensions<br />11-17<br />
  18. 18. BRANDING DECISIONS<br />National or Store Branding<br />National brands that are sold around the country under the same brand.<br />Store brands are when large retailers create a store brand to market their own products.<br />11-18<br />
  19. 19. National Vs. Store Brand <br />McGraw Hill/Irwin Copyright © The McGraw Hill Companies, Inc. All rights reserved<br />19<br />
  20. 20. BRANDING DECISIONS<br />Licensing<br />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.<br />11-20<br />
  21. 21. BRANDING DECISIONS<br />Co-Branding<br />Co-branding joins two or more well known brands in a common product or takes two brands and markets them in partnership.<br />11-21<br />
  22. 22. Co-Branding <br />McGraw Hill/Irwin Copyright © The McGraw Hill Companies, Inc. All rights reserved<br />22<br />
  23. 23. PACKAGING AND LABELING: ESSENTIAL BRAND ELEMENTS<br />Package Objectives<br />11-23<br />
  24. 24. PACKAGING AND LABELING: ESSENTIAL BRAND ELEMENTS<br />Effective Packaging<br />Aesthetics<br />Harmonizes with All Marketing Mix Elements<br />11-24<br />
  25. 25. PACKAGING AND LABELING: ESSENTIAL BRAND ELEMENTS<br />Labeling<br />11-25<br />
  26. 26. WARRANTIES AND SERVICE AGREEMENTS: BUILDING CUSTOMER CONFIDENCE<br />General warranties make broad promises about product performance and customer satisfaction. <br />Specific warranties, on the other hand, offer explicit product performance promises related to components of the product. <br />11-26<br />
  27. 27. WARRANTIES AND SERVICE AGREEMENTS: BUILDING CUSTOMER CONFIDENCE<br />Warranties help define the brand<br />Cost versus benefit<br />Conveys a message to the customer<br />11-27<br />
  28. 28. Thank You, Please Visit Us At :<br />http://wanbk.page.tl<br />

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