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BRAND MANAGEMENT

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BRAND

Name, sign, symbol, intended to identify goods

& services of one seller from another

Branding is decommodification of product

Brand name

A rose by any other name would not smell as sweet

Brand name provides an identity which differentiates

Key marketing concept of positioning, imagery are

centered around brand name

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Brand is an accumulation of emotional and

functional associations.

Brand is a promise that the product will

perform as percustomers expectations.

Branding is the process that allows anindividual or a group of individuals the ability

to provide a brand image & lettering to an idea.

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Benefits of brands

Famous and Good Brands easily attractattention of consumers.

It is an important aspect of marketing so much,

so that brand management is nothing less than a

CEOs responsibility in any company.

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Product logic(marketing mix) to brand logic

(meaning and value)

Brand

Symbol =

Brand

character+

Brand Logo

Brand Looks =

Brand Symbol

+ Brand Name

Brand

Association =

Link up in

memory with

brands

attributes,

benefits andlooks

Brand Image =Brand

Associations +

Brand

Personality

Brand

Relationship =

Brand Image +Brand Attitude

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Brand value

Brand culture (accepted truth about product) can

greatly enhance brand value

Difference between what a consumer will pay for

branded product and a physically identical product

without brand Reputational value -- perceived product quality

Relationship value -- trusted as a long term partner

Experiential value -- Shape experience of product

Symbolic value -- which expresses values &

identities

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Brand Equity

Brand equity refers to the effects of marketing on consumers'

knowledge about a brand Brand equity is one of the factors whichcan increase the financial value of a brand to the brand owner,

although not the only one.

Measuring Brand Equity

Firm Level: Can be measured through market value minus thefinancial assets of a firm.

Product Level: Comparison of price of a no-name or private

label product to an "equivalent" branded product. The

difference in price, assuming all things equal, is due to the

brand.

Consumer Level: Measuring the awareness (recall and

recognition) and brand image (the overall associations that the

brand has).

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Organization of Brands

Brand architecture the structure and

organization of brands

Brand hierarchy the different organizational

levels within a brand system

Sub-brand an identified division (other ofproducts) within a brand

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Brand Hierarchy

Branded Feature

Sub-brand

Product Line

Range

Corporate Brand HP

Imaging

Laserjet

Laserjet IV

Laserjet IV

RE

Inkjet

Systems

PCs

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Product Range Strategy

Allows multiple market entry and flexibility

Consumer-oriented branding not corporate

branding

Encourages innovation and risk taking (failurewill reflect less on corporate brand)

Possible to control greater shelf space with

strong brands

BUT expensive and requires sophisticated

organization

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Household Range of Products

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Umbrella Brand Strategy

Builds brand equity at the corporate level

Corporate brand strength is critical

Reduces marketing investment in new

categories

Allows fast-follower strategies in innovative

companies

Easier for horizontal rather than vertical

extension

Risk of over-stretching

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Endorser Brand Strategy

Allows dual brand equity to develop

Quality seal of approval

Cheaper method of building brand equity in

company name

Use product brands to express different aspects of

personality

Requires comprehensive understanding of brand

values

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Corvette Z06

Corvette Conv

Corvette Coupe

10 Yukon Denali

10 Yukon XL Denali

10 Yukon Denali HB

09 H3

09 H2 SUT

09 H2 SUV

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Brand Extension

Pros

Facilitate new product acceptance

Increase profits

Avoid cost of developing a new brand Appeal to new consumers

Revitalize the brand

Prevent marketing myopia

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CONS

Hurt parent brand image

Dilute brand image (diluted investment)

Confuse consumers

Alienate existing consumers

Retailer resistance

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Brand Alliance

Co-operative marketing of brands/ products that

have the same utility or target segment

Event relatedDLF-IPL

Operations relatedStar Alliance (airline industry)

Collective brand assetsMcDonalds and Coke

Complementary productsIntel