Strategic brand management chapter 1st introduction

Introduction: Meaning of Brand, Concepts, Evolution of Brands, Functions of Brand to
consumer, Role of Brand-Advantages of Brand, Product Vs Brand. Branding- Meaning, Creation
of Brands through goods, services, people, Organization, Retail stores, places, online,
entertainment, ideas, challenges to Brand builders. Brand Management-Meaning & Definition.
Strategic Brand Management Process-Meaning, Steps in Brand Management Process, Strong
Indian Brands.

1. is a

2. is a ny name, any colour , any design and any logo , that is associated with a product, service or concept that is publicly distinguished from other products, services or concepts, so that it can be easily communicated and usually marketed.

3. Evolution of Brands Brand evolution is the ongoing process of shaping a brand around changing consumer and market behaviors. This process naturally happens little by little, but even the smallest changes can lead to an impact on your audience and sales.

4. A brand is a product, service or concept that is publicly distinguished from other products, services or concepts so that it can be easily communicated and usually marketed. Steve McNamara "A brand is the sum of all feelings, thoughts and recognitions - positive and negative - that people in the target audience have about a company, a product or service."   Colin Bates "A brand is a collection of perceptions in the mind of the consumer ."

5. A brand is an identifying symbol, words or mark that distinguishes a product or company from its competitors . Usually brands are registered (trademarked) with a regulatory authority and so cannot be used freely by other parties. For many products and companies, branding is an essential part of marketing. A brand is a trademark or distinctive name identifying a product or a manufacturer. A brand name can create and stand for loyalty, trust, faith, premium ness

6. A Brand Includes Symbol or Logo : The visual representation of a company or product, such as a logo, symbol, or design element that distinguishes it from others. Company or Product Identity : It represents the identity or image of a company, product, or service in the minds of consumers. Value Proposition : A brand signifies the promise of what consumers can expect from a company's products or services. It encapsulates the unique value, quality, and characteristics that differentiate it from competitors

7. Trust and Reputation : Brands often embody the reputation and trust that consumers have towards a company or its offerings. Positive brand perception can lead to customer loyalty and advocacy. Marketing and Positioning : Brands are strategically managed through marketing efforts to influence how they are perceived by target audiences. This includes advertising, promotions, and communication strategies. Intangible Asset : In a business context, a brand is considered an intangible asset that contributes to the overall value of a company. Strong brands can command higher prices and market share.

8. Brand evolution is the ongoing process of shaping a brand around changing consumer and market behaviors. This process takes time. The evolution of brands is affected by societal changes, economic trends, and technological advancements. There are various reasons for brand evolution namely Market Adaptation Technological Integration Cultural Relevance Globalization Digital Transformation Customer Experience Innovation and Adaptability Evolution of Brands Why Do Customers Care about Company’s Brand Evolution? Reach new customers Distinguish yourself from the competition Stay current and relevant Show customers new products/offers Reflect your company’s values ( FAIRNESS, GROWTH, CREATIVITY, RELIABILITY, and JOY ) Improve your company’s bottom line

9. Functions of Brands to Consumers Identification and Differentiation : Brands help consumers identify and distinguish between products and services. They provide a recognizable symbol or name that helps consumers make quick decisions based on their preferences, experiences, and perceptions. Quality Assurance : Brands often signify a promise of quality and reliability. Consumers may perceive branded products as having higher quality compared to unbranded alternatives. This perception is built over time through positive experiences, marketing efforts, and word-of-mouth recommendations. Risk Reduction : Brands reduce perceived risk for consumers when making purchase decisions. By choosing a familiar brand, consumers feel more confident that the product will meet their expectations and deliver the desired benefits. This is especially true for high-involvement purchases such as electronics or automobiles, where the stakes are higher.

10. Functions of Brands to Consumers Symbolic Meaning and Self-Expression : Brands often carry symbolic meanings that resonate with consumers' self-image, lifestyles, and personal values. Emotional Connection : Strong brands evoke emotions and forge emotional connections with consumers. Whether through compelling storytelling, memorable advertising campaigns, or shared values, Convenience and Consistency : Brands provide a sense of predictability and consistency in product offerings, customer service, and overall brand experience.

11. Role of Brand

12. Role of Brand Identification and Differentiation Quality Assurance/symbol of quality Risk Reduction Tool for comparison Saves customers time Saves marketer efforts Improves customer loyalty Positive word of mouth marketing  enhance Higher advertising effectiveness on customers  Elevated Perceived Value

13. Advantages of Brand Distinguish from the competitors Easy identification Create unique position in the market Price discrimination Makes the job of seller easy Saves customer time To create loyal customers Attract customers To create brand identity To get sold easily in the market . To reduce search cost and search time for consumers

14. Brand vs. Product Product: A product refers to a tangible item or intangible service that a company offers to meet a particular consumer demand or need. It can be something you can touch, like a smartphone or a car, or something intangible, like software or a consultancy service. Products are typically described by their features, specifications, functionalities, and benefits. They serve specific purposes and are designed to solve particular problems or fulfill specific desires of consumers.

15. Brand: A brand encompasses the entire experience that customers have with a company, its products, and its services. It goes beyond the physical attributes of a product and includes emotional and psychological associations that customers make with the company. A brand is the perception of the company in the minds of consumers. It represents the company's values, reputation, customer service, and overall identity. Strong brands are built through consistent messaging, positive customer experiences, effective marketing, and delivering on promises made to customers.

16. Key Differences Focus: Products focus on the specific features and functionalities offered to solve a problem or meet a need. Brands focus on the overall perception, reputation, and emotional connection that consumers have with the company. Scope: Products are individual items or services offered by a company. Brands encompass the entire company and all the products and services it offers. Customer Perspective: Customers choose products based on their specific needs and preferences. They choose brands based on their overall perception of the company and what it stands for.

17. Parameters Brand Product Definition A unique name, design, symbol, term, or feature that distinguishes one company’s goods or services from those of others in the marketplace A physical or tangible item that is manufactured, produced, or created to meet a specific need or want Focus Identity and perception of the company in the marketplace Physical characteristics and attributes of the item Examples Apple, Nike, Coca-Cola iPhone, Air Max shoes, Coca-Cola Classic Key components Brand name, logo, tagline, brand identity, brand positioning Design, features, benefits, quality, packaging Marketing Branding, advertising, public relations, social media, events, sponsorships Product development, pricing, promotion, distribution Importance Determines customer loyalty, trust, and reputation Influences purchase decisions, differentiation from competitors Duration Long-term, evolves over time Short-term, specific lifespan Scope Can encompass multiple products or services Refers to a single item or line of related items Value Intangible, subjective, and emotional Tangible, objective, and functional

18. Branding - Meaning The process involved in creating a unique name and image for a product in the consumers' mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers Branding is an ongoing process of supporting and cultivating a brand's distinct identity in consumers' minds. It covers multiple activities to increase brand value, reinforce brand recall, and market business through digital and traditional marketing.

19. Creation of Brands through goods, services, people, Organization, Retail stores, places, online, entertainment, ideas. When it comes to product brands, this includes the product itself, packaging, pricing, availability, etc. With service brands, tangibles include customers‘ experience. The intangibles include emotional connections and expectations with products and services. Branding also involves assembling a blend of the right marketing campaigns to create and reinforce your identity. If done right, firm can even create a brand that is able to break through the noise and create brand loyalty.

20. Goods and Services : Product Identity : Define firms product stands for, its unique features, and benefits. Packaging : Design packaging that reflects brand’s values and appeals to firm target market. Quality Assurance : Ensure consistent quality to build trust and reliability. People : Brand Ambassadors : Select individuals who embody firm brand’s values and can effectively promote it. Internal Branding : Ensure employees understand and embody the brand in their interactions

21. Organization : Mission and Values : Clearly define your company’s mission and values, aligning them with your brand identity. Corporate Culture : Foster a culture that reflects your brand’s personality and values Retail Stores : Store Design : Create a physical environment that reinforces your brand identity. Customer Experience : Ensure that customer interactions in-store align with your brand promise.

22. Places : Location Branding : Position frim physical locations as extensions of brand identity. Community Engagement : Engage with local communities in ways that reflect firm brand values. Online : Website : Design a website that reflects frim brand identity and provides a seamless user experience. Social Media : Maintain a consistent brand voice and visual identity across all social media platforms.

23. Entertainment : Branded Content : Create content that aligns with firm brand values and engages your audience. Partnerships : Collaborate with entertainment entities that share firm brand’s ethos.

24. Branding is the process of creating a distinct identity for a business in the mind of your target audience and consumers.  Brand management is nothing but an art of creating and sustaining the brand.

25. Brand Management Meaning: Brand management is responsible for the overall management of a brand. This includes everything from product development and marketing to advertising and public relations. All of these aspects work together to create a particular image or reputation for a brand. Brand management is nothing but an art of creating and sustaining the brand. The aim is to maintain, improve and bring awareness to the wider value and reputation of a brand and its products over time. Definition: Mitchell Grant defines, Brand management as a function of marketing that uses techniques to increase the perceived value of a   product line   or brand over time. Effective brand management enables the price of products to go up and builds loyal customers through positive brand associations and images or a strong awareness of the brand.

26. Brand Management Process Strategic brand management involves the deliberate planning and execution of activities to build, maintain, and enhance a brand's equit y.

27. 1. Identifying and Developing Brand Plans The strategic brand management process begins with clearly understanding what the brand showcases and how it should be positioned with its competitors. This is achieved through brand planning, which involves using three interlocking models Brand Positioning Model It guides how to market the brand effectively to maximize its competitive advantages. This involves identifying the brand's unique features, benefits, target audience, and needs and preferences. Brand Resonance Model This involves creating a sense of loyalty and emotional connection between the customer and the brand. It promotes repeat purchases and positive word-of-mouth recommendations. It describes creating intense, active customer loyalty relationships. Brand Value Chain It is used to track the brand's value creation process. This allows companies to understand better the financial impact of their brand marketing expenditures and investments and identify areas for potential improvement.

28. 2.Measuring and Interpreting Brand Performance An effective brand equity measurement system is essential for managers to manage their brands profitably. Implementing such a system involves three key steps: conducting brand audits, designing brand tracking studies, and establishing a brand equity management system. Determining or evaluating a brand’s positioning often benefits from a brand audit. Once marketers have determined the brand positioning strategy, they can implement marketing programs to create, strengthen, or maintain brand associations. Brand tracking studies collect information from consumers on a routine basis. Experts do it through quantitative brand performance measures on several key dimensions, which marketers can identify in the brand audit or other means.

29. 3. Designing and Implementing Brand Marketing Programs It is essential to establish a strong brand position in customers’ minds. It is essential to develop brand equity and foster deep customer loyalty. This process involves three critical factors: Brand Element The initial choices of the brand’s visual, verbal, and sensory elements, including the brand name, logo, slogan, packaging, and overall design, should be combined to reinforce the brand’s unique identity and value proposition. Marketing Activities The marketing mix and supporting programs that promote the brand and create a distinctive brand image. The brand should be integrated into marketing campaigns. Moreover, communications create a consistent message reinforcing the brand’s values and benefits. Other Associations Other indirect associations, such as the company, country of origin, distribution channel, or other brands, may be linked to the brand. These associations can be leveraged to enhance the brand’s reputation, value, and customer appeal.

30. 4. Growing and Sustaining Brand Equity Maintaining and expanding brand equity can be quite challenging. Brand equity management activities take a broader and more diverse perspective of the brand’s equity understanding. For instance- how branding strategies should reflect corporate concerns and adjust them. Also, if at all, over time, geographical boundaries, multiple market segments, etc. Defining Brand Architecture Brand architecture refers to a company’s overall strategy and guidelines for managing its various brands. It involves deciding which brand elements should be used consistently across all products sold by the company. Two key components of the brand architecture are brand portfolios and brand hierarchies. Managing Brand Equity over Time Managing brand equity involves taking a long-term approach to marketing decisions. This means recognizing that changes to a brand’s marketing program can impact consumer knowledge and future marketing efforts. It also involves proactive strategies to maintain and improve customer-based brand equity over time and reactive strategies to address any difficulties or pro blems.

31.  Identifying and developing brand plans

32. Creation of Brands through Goods: 2. Be Consistent 1. Define your Business, Define your Brand 3. Differentiate the Product 4. Be Creative 5. Make an Emotional Connection 6. Monitor Your Brand 7. Review your Materials 8. Review Company Culture The Review Process 1. Test out new ways to market and brand your product or service 2. Review what went right and what can be improved 3. Enhance the image you already have 4. Repeat the first three steps until it works

33. Creation of Brands through Goods: 2. Be Consistent 3. Differentiate the Product 4. Be Creative 5. Make an Emotional Connection 6. Monitor Your Brand 7. Review your Materials 8. Review Company Culture The Review Process 1. Test out new ways to market and brand your product or service 2. Review what went right and what can be improved 3. Enhance the image you already have 4. Repeat the first three steps until it works 1. Define your Business, Define your Brand

34. Creation of Brands through Goods: 1. Define your Business, Define your Brand 3. Differentiate the Product 4. Be Creative 5. Make an Emotional Connection 6. Monitor Your Brand 7. Review your Materials 8. Review Company Culture The Review Process 1. Test out new ways to market and brand your product or service 2. Review what went right and what can be improved 3. Enhance the image you already have 4. Repeat the first three steps until it works 2. Be Consistent

35. Creation of Brands through Goods: 2. Be Consistent 1. Define your Business, Define your Brand 4. Be Creative 5. Make an Emotional Connection 6. Monitor Your Brand 7. Review your Materials 8. Review Company Culture The Review Process 1. Test out new ways to market and brand your product or service 2. Review what went right and what can be improved 3. Enhance the image you already have 4. Repeat the first three steps until it works 3. Differentiate the Product

36. Creation of Brands through Goods: 2. Be Consistent 1. Define your Business, Define your Brand 3. Differentiate the Product 5. Make an Emotional Connection 6. Monitor Your Brand 7. Review your Materials 8. Review Company Culture The Review Process 1. Test out new ways to market and brand your product or service 2. Review what went right and what can be improved 3. Enhance the image you already have 4. Repeat the first three steps until it works 4. Be Creative

37. Creation of Brands through Goods: 2. Be Consistent 1. Define your Business, Define your Brand 3. Differentiate the Product 4. Be Creative 6. Monitor Your Brand 7. Review your Materials 8. Review Company Culture The Review Process 1. Test out new ways to market and brand your product or service 2. Review what went right and what can be improved 3. Enhance the image you already have 4. Repeat the first three steps until it works 5. Make an Emotional Connection

38. Creation of Brands through Goods: 2. Be Consistent 1. Define your Business, Define your Brand 3. Differentiate the Product 4. Be Creative 5. Make an Emotional Connection 7. Review your Materials 8. Review Company Culture The Review Process 1. Test out new ways to market and brand your product or service 2. Review what went right and what can be improved 3. Enhance the image you already have 4. Repeat the first three steps until it works 6. Monitor Your Brand

39. Creation of Brands through Goods: 2. Be Consistent 1. Define your Business, Define your Brand 3. Differentiate the Product 4. Be Creative 5. Make an Emotional Connection 6. Monitor Your Brand 8. Review Company Culture The Review Process 1. Test out new ways to market and brand your product or service 2. Review what went right and what can be improved 3. Enhance the image you already have 4. Repeat the first three steps until it works 7. Review your Materials

40. Creation of Brands through Goods: 2. Be Consistent 1. Define your Business, Define your Brand 3. Differentiate the Product 4. Be Creative 5. Make an Emotional Connection 6. Monitor Your Brand 7. Review your Materials 8. Review Company Culture The Review Process 1. Test out new ways to market and brand your product or service 2. Review what went right and what can be improved 3. Enhance the image you already have 4. Repeat the first three steps until it works

41. Creation of Brands through Goods: 2. Be Consistent 1. Define your Business, Define your Brand 3. Differentiate the Product 4. Be Creative 5. Make an Emotional Connection 6. Monitor Your Brand 7. Review your Materials 8. Review Company Culture The Review Process Test out new ways to market and brand your product or service 2. Review what went right and what can be improved 3. Enhance the image you already have 4. Repeat the first three steps until it works

42. Creation of Brands through Services: 1. Use story to clarify your message 2. Be proactive 3. Be responsive 4. Anticipate needs 5. Delight your customers 6. Show some enthusiasm 7. Use a CRM Creation of Brands through Organization: Identifying your audience. Research your competitors. Define your brand's purpose and position. Develop a personality and brand voice. Create your brand story. Pick a brand name. Write a slogan. Design your brand look and logo.

43. Creation of Brands through Organization: Identifying your audience. Research your competitors. Define your brand's purpose and position. Develop a personality and brand voice. Create your brand story. Pick a brand name. Write a slogan. Design your brand look and logo. 1. Signage  2. Logo   3. Colour  4. Music   5. Lighting   6. Product packaging and display   7. R etail Staff  

44. Creation of Brands through Retail Stores: 1. Signage  2. Logo   3. Colour  4. Music   5. Lighting   6. Product packaging and display   7. R etail Staff  

45. Creation of Brands through Places:

46. Creation of Brands through Places:

47. Creation of Brands through Places:

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49. Creation of Brands through Online:

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55. Creation of Brands through Entertainment:

56. Creation of Brands through Ideas:

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58. Creation of Brands through Ideas:

59. Creation of Brands through Ideas:

60. Creation of Brands through Ideas:

61. Creation of Brands through Ideas:

62. Challenges to Brand builders Fragmentation of Markets and Media: The audience's attention is fragmented across multiple channels and outlets. People watch television with one eye while they are reading a news story on their tablet computers; they browse the Web at work with the radio playing in the background; and they hop between different social media apps on their smartphones.

63. Strong Indian Brands