Notes Secondary Brand Association about.pptx

Secondary brand association

1. Ch4. Secondary Brand Associations

2. 2 Strategic Brand Management Process – where are we? Mental maps Competitive frame of reference Points-of-parity and points-of-difference Core brand values Brand mantra Mixing and matching of brand elements Integrating brand marketing activities Leveraging of secondary associations Brand Value Chain Brand audits Brand tracking Brand equity management system Brand-product matrix Brand portfolios and hierarchies Brand expansion strategies Brand reinforcement and revitalization KEY CONCEPTS STEPS Grow and Sustain Brand Equity Identify and Establish Brand Positioning and Values Plan and Implement Brand Marketing Programs Measure and Interpret Brand Performance Leveraging of secondary associations

3. Preview Brand Other Brands Place Other Things People Country of Origin Place Company Co-Branding Characters Endorsers Third Party Reviews Events Awards

4. Conceptualizing the Process BRAND OTHER ENTITY Association Association Association Association Mental Association How much do people know about the entity? Is the knowledge MEANINGFUL to the brand? Is the knowledge transferable? Creation of New Brand Association + Effects on Existing Brand Knowledge

5. Company It’s all in the name

6. Three main branding options: Create a new brand Adopt or modify an existing brand Combine an existing and new brand Company

7. A consumer from anywhere in the world may choose to wear Italian Suits, exercise in American athletic shoes, listening to a Japanese compact players, drive a German car or drink English beer Levi’s jeans – USA Channel perfumes – France BMW – Germany Gucci’s shoes and purses – Italy Amul – The taste of India Country of Origin & Other Geographic Areas

8. Country of Origin & Other Geographic Areas

9. Associating the brand to a strong and/or innovative channel of distribution online stores, retail chains Channels of Distribution

10. Two brands – One product Co-Branding Twenty examples of co-branding http://images.businessweek.com/ss/09/07/0710_cobranded/6.htm

11. Advantages: Borrow needed expertise LE you don’t have Reduce cost of product introduction Expand brand meanings into related categories Broaden meaning Increase access points Source of additional revenue Disadvantages: Loss of control Risk of BE dilution Negative feedback effects Lack of brand focus and clarity Organizational distraction Co - Branding

12. Decision factors include: What capabilities do you not have? What resource constraints are you faced with? What growth goals or revenue needs do you have? Assessment of joint branding opportunities: Is it a profitable business venture? How does it help to maintain or strengthen BE? Is there any possible risk of dilution of BE? Does it offer any extrinsic advantages? Ingredient Branding Co – branding Guidelines

13. It involves contractual agreement for a fixed fee for names, logos etc Entertainment licensing includes characters from TV programs or movies Licensing can be quite lucrative for licensor Corporate trade mark licensing Licensing McDonald’s and Spiderman TOI and Hum Tum

14. Selection of celebrities is critical Potential problems Overuse of celebrities There must be reasonable match between celebrity and product Celebrity endorser can get into trouble or lose popularity People believe that celebrities are endorsing for money only Celebrities may distract attention from brand itself Celebrity Endorsement

15. Means of reinforcing consumer perceptions Sponsored events can contribute to BE High reach – through crowd attending the event, also through telecast of the event Sporting, Cultural or Other Events

16. Third Party Sources Enhances the credibility of the Brand in the customers mind. Self sponsored ads considered as bragging, so a third person perspective becomes necessary.

17. Amidst the thousands of options available, remember to align your brand’s association to what the customer values. Hold a clear place in the minds of the customer, don’t bombard her with multidirectional messages. Closing lines – Stay Connected