Introduction to Brand Management. Session 1.

Brand Management.
Difference from Product Management.
Brand Equity.

1. Session 1 FARHAN SHEIKH BRAND MANAGEMENT GBBM 555

2. Who are you? - Name, its meaning, why is this your name? - Semester, CGPA, Major, Why? - Source of household income? - Passionate about? - What do you expect from this course? - Which celebrity do you like best? Why? Write this all on a piece of paper and submit

3. What is “Brand” ? Why do brands exist? How are they made? Are you loyal to any brand? Brands and Products? Brand Managers or Product Managers? What are SDGs? Why are they important?

4. Brand “ 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. The Role of Brands Identify source/maker Simplifies Decision Making Reduces hassle of seeking Granted things associated with the brand Reduced risk / more trust Value for money Self satisfaction, self esteem and sense of belonging Consumer Benefits Marketer Benefits

6. The Role of Brands Consumer Benefits Marketer Benefits Simplifies product and competitive advantage communication Legal protection / patents / trade marks etc Establish barriers to entry Market Share Customer loyalty Domestic and / or Global Recognition Ease of product handling

7. Brand vs Product A product is something that is made in a factory; A brand is something that is bought by a customer. A product can be copied by a competitor; A brand is unique. A product can be quickly outdated; A successful brand is timeless. – Stephen King (WPP Group, London)

8. Brand Equity The added value endowed on products and services because of the brand. - R eflected in how consumers think, and act with respect to the brand, as well as the prices, market share, and profitability that the brand commands.

9. Class Assignment 1 Look up about Brand Values (they are not monetary value), bring a document in class for discussion with at least 3 examples of brands and their brand values. Look around you, your room, your home and think which is the best brand that you consume: Write the brand’s name Write at least 3 reasons why you consume it List the 17 SDGs and explain which SDG(s) is important in your opinion.