Brand management and its categories to enhance

Marketing

1. Brand Equity Session 20

2. What is Brand 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 group of sellers and to differentiate them from those of competitors. A brand is thus a product or service whose dimensions differentiate it in some way from other products or services designed to satisfy the same need. Functional, rational, or tangible—related to product performance of the brand. Symbolic, emotional, or intangible—related to what the brand represents or means in a more abstract sense

3. Brand is a Promise

4. Advantages of Strong Brands Improved perceptions of product performance Greater loyalty Less vulnerability to competitive marketing actions Less vulnerability to crises Larger margins More inelastic consumer response Greater trade cooperation Increased marketing communications effectiveness Possible licensing opportunities

5. Key Ingredients of Customer-Based Brand Equity Brand equity arises from difference in consumer response. Differences in response are a result of consumer’s brand knowledge. Brand knowledge consists of all thoughts, feelings, images, experiences, beliefs, and so on that become associated with the brand. Brand equity is reflected in perceptions, preferences, and behavior related to all aspects of the marketing of a brand.

6. Brand Asset Valuator Model

7. Brand Dynamic Parameter

8. Brand Resonance Pyramid

9. Brand Element Logo Brand names Slogans Characters Symbols URL Memorable Likeable Meaningful

10. Strategic Brand Management Identifying and establishing brand positioning Planning and implementing brand marketing Measuring interpreting brand performance Growing sustained brand value

11. Brand Personality Sincerity Down-to-earth, Honest, Wholesome, and Cheerful Excitement Daring, Spirited, Imaginative, and Up-to-date Competence Reliable, Intelligent, and Successful Sophistication Upper-Class and Charming Ruggedness Outdoorsy and Tough

12. Brand communities A brand community is a specialized community of consumers and employees whose identification and activities focus around the brand. A “consciousness of kind” or sense of felt connection to the brand, company, product, or other community members; Shared rituals, stories, and traditions that help to convey the meaning of the community; and A shared moral responsibility or duty to both the community as a whole and individual community members.

13. Brand Extension Brand extensions fall into two general categories: Line extension: The parent brand covers a new product within a product category it currently serves. Category extension: Marketers use the parent brand to enter a different product category.

14. House of Brand Vs A Branded House

15. Brand Portfolios To increase shelf presence To attract consumers seeking variety who may otherwise have switched to another brand To increase internal competition within the firm To yield economies of scale in advertising, sales, merchandising, and physical distribution

16. Creating Brand Portfolio No potential customers are being ignored. Minimize brand overlap Each brand should be clearly differentiated and appealing to a sizable enough marketing segment to justify its marketing and production costs. Marketers carefully monitor brand portfolios over time to identify weak brands and kill unprofitable ones. Brand lines with poorly differentiated brands are likely to be characterized by much cannibalization and require pruning.

17. Some Essentials Flankers Cash Cows  Low-End Entry-Level  High-End Prestige