Description
The ppt covers the topic like concept of brand equity, brand awareness, brand building, brand extension, brand identity.
BRAND MANAGEMENT
Functions of brand for the customer
Function Customer Benefit
Identification
Practicality Guarantee
To be clearly seen, to make sense of the offer, to quickly identify the sought after products
To allow savings of time and energy through identical repurchasing and loyalty To be sure of finding the same quality, no matter where or when you buy the product or the service To be sure of buying the best product in the category , the best performer for a particular purpose
Optimisation
Characterisation
Continuity
To have conformation of the self-image or the image you present to others
Satisfaction brought about through familiarity and intimacy with the brand that you have been consuming for years
Function
Customer Benefit
Hedonistic
Ethical
Satisfaction linked to the attractiveness of a brand; to its logo; to its communication
Satisfaction linked to the responsible behaviour of the brand it its relationship with society
From Brand assets to Brand Equity
Brand awareness + Image
+ Perceived quality
+Evocations +Familiarity, Liking Brand added value, perceived by consumers - Costs of branding - Cost of invested capital Brand financial value (Brand Equity)
=Brand Assets
Brand Equity
?
Brand Equity is a set of assets (and liabilities) linked to a brand’s name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm and/or a firm’s customers.
?
Brand Equity – Major Asset Categories Brand Name Awareness
? Brand Recognition – familiarity with the brand from past exposure ? Brand Recall – if the brand comes to consumer’s minds when its product class is mentioned
?
Brand Loyalty
? The more loyal customers are to a brand, the more valuable the brand is ? Loyal customers create very predictable sales and profit ? Customer loyalty can be increased by instituting Frequent Buyer Programs and Customer Clubs, or through Database Marketing
? ?
Perceived Quality
? Perceived quality of a brand drives financial performance
Brand Associations
? Brand associations are the mental associations that people have in regards to a brand – product attributes, symbols, product class, etc. ? Brand Identity drives these Brand Associations
Brand Identity
?
Brand Identity is a unique set of brand associations that the brand strategist aspires to create or maintain. These associations represent what the brand stands for and imply a promise to customers from organization members. There are 4 brand identity perspectives: ? Brand as a Product ? Brand as an Organization ? Brand as a Person ? Brand as a Symbol
?
Managing Brand Systems
?
Within the organization, the system of brands must fit together and support each other (at least not contradict and confuse the customer); decisions must be made with other brands in mind. Each Brand will fall into a specific role: ? Driver – Drives the purchase decision ? Endorser – Provides support and credibility to driver brand ? Strategic – Important brand to the future of the company; Represents large future profit or is highly impactful for company initiatives ? Subbrand – Part of a new line within the brand system ? Branded Benefits – Features, components, services ? Silver Bullet – Subbrand or branded benefit that is employed as a vehicle for changing or supporting a parent brand
?
Launching a new brand
?
?
? ? ?
Launching a new brand and launching a new product are not the same Determine which products are more typical of the brand Brand campaign or product campaign Brand language and Territory communication Brand language helps you establish the ideology of the brand and helps in decentralising decisions
Brand identity platform
?
Why must this brand exist?
? What would consumers miss if this brand did not exist
?
?
?
Standpoint
? From where does the Brand speak?
Vision
What is the Brand’s vision of the product category?
? ? ? ?
?
? ?
What are our values Mission Know-how Territory Typical products or actions Style and Language
? What are the brand’s stylish idiosyncrasies?
Reflection
? Whom are we addressing? What image do we want to render of the
Brand Strategies Over Time
?
?
?
The key to a strong Brand over time is consistency with the Brand Identity. You can change the Brand Perception by Evolving the Identity: ? Update the logo, Use new Slogans, Create new Products You may also Augment the Identity: ? Create Sub-brands, Change user imagery, Add emotional benefits, or Create Product Extensions
Choosing a name for a brand
? ? ? ? ?
Brand name or product name? The danger of descriptive names Taking the copy phenomena into account Taking time into account – Do not have too restrictive names Thinking internationally
Brand awareness
? ?
Top –of-mind – the ultimate goal Un-aided – spontaneous association of the brand to the product category
? Products involving less involvement by the purchaser – unaided awareness rate has more impact on choices
?
Aided
Leveraging the Brand
?
A strong brand can be leveraged to create larger and stronger business entities
?
There are several options to leverage brands: ? Line extensions within the existing product class is the simplest form of leveraging ? Stretching the brand up or down within a specific product class is also common ? Brand Extension, extending the brand into other product classes, is the ultimate way to leverage
Sustaining the brand for a long time
?
Innovations and Renovations
? Coca-cola – variants ? Procter and Gamble, L’Oreal, Gillette invest 3-5% of sales on R&D
? ?
Upgrade it to the current level of expectation Integrate new and emerging needs while holding on to the same positioning Constantly confirm one’s superiority on one particular axis Constantly strengthening the brand’s reputation Perceived difference can only be maintained if the innovations are allocated according to the strength of the brand
? ? ?
Sustaining the brand for a long time
? ? ? ? ?
Invest in communication Remain within the mainstream price Dominate to invest Control the distribution system Create entry barriers
? Cost of production ? Mastering technology and Quality (P&G) ? Domination through image and communication (Coca-cola) ? Range extensions fulfilling all aspects of promising ? Controlling distribution
?
Build Brand Loyalty
Organizing for Brand Building
?
Someone, or a group of individuals, must be in charge of the brand: From creating the Brand Identity, to designing implementation, to making Product Line decisions (Brand Manager, CEO, Brand Champion, Brand Committee, etc.) Companies must coordinate the brand across the organization – different divisions that use the same Brand should all be in alignment
?
?
Coordinating the Brand in the Media is also key, ensuring that regardless of the medium, the message is consistent
Brand Extension
Type of Brand
Value
Interest Knowhow Formula Product (A) (B) (C) (D) (E) Degree of product dissimilarity
Type of brand and ability to extend
BRAND IDENTITY
Brand Identity
Brand identity is the unique set of brand associations that the brand strategist aspires to create or maintain
12 dimensions of Brand Identity
Brand as a product
• • • • • • Product scope Product attributes Quality/ Value Uses Users Country of origin
Brand as a person
• Brand personality • Brand- customer relationships
Brand as Symbol
• Visual imagery/ metaphors • Brand Heritage
Brand as Organization
• Organizational attributes • Local versus global
Brand Identity (Continued)
?
?
?
?
Brand as Product ? What is the product? Why is it better/different than competitors? When do you use it? Is it store-brand or top-shelf? Brand as an Organization ? What does the company stand for? How do they operate business? How does that translate to their products? Brand as a Person ? If this product was a person, who would it be? What type of personality would it have? What type of relationship does the customer have with the brand? Brand as a Symbol ? Are there any logos/symbols that come to mind when thinking about this brand? Can customers easily bring to mind the brand identity when they see its associated symbol?
Brand identity and image
Sender Media Receiver
Brand Identity
Signals transmitted
Brand image
Other sources of inspiration •Mimicry •Opportunism •Idealism
Competition and noise
Brand identity prism
Picture of sender
Internalization
Externalization
Relationship
Culture
Picture of Recipient
Brand Identity Structure
? ?
Core Identity
? Timeless essence of a brand
Extended identity
? Includes elements that provide texture and completeness to the brand
?
Value Proposition
? Functional Benefits ? Emotional Benefits ? Self- expressive Symbolic benefits
?
Credibility
? Support other Brands
Brand Identity Implementation
?
Implementation begins with the creation of a Brand Position based on the Brand Identity Brand Position is the part of the brand identity and value proposition that is to be actively communicated to the target audience and that demonstrates an advantage over competing brands.
?
?
Once you have defined identity and position, you should do an Analysis to define the Brand Strategy in order to ensure the brand concept is solid
doc_767178612.pptx
The ppt covers the topic like concept of brand equity, brand awareness, brand building, brand extension, brand identity.
BRAND MANAGEMENT
Functions of brand for the customer
Function Customer Benefit
Identification
Practicality Guarantee
To be clearly seen, to make sense of the offer, to quickly identify the sought after products
To allow savings of time and energy through identical repurchasing and loyalty To be sure of finding the same quality, no matter where or when you buy the product or the service To be sure of buying the best product in the category , the best performer for a particular purpose
Optimisation
Characterisation
Continuity
To have conformation of the self-image or the image you present to others
Satisfaction brought about through familiarity and intimacy with the brand that you have been consuming for years
Function
Customer Benefit
Hedonistic
Ethical
Satisfaction linked to the attractiveness of a brand; to its logo; to its communication
Satisfaction linked to the responsible behaviour of the brand it its relationship with society
From Brand assets to Brand Equity
Brand awareness + Image
+ Perceived quality
+Evocations +Familiarity, Liking Brand added value, perceived by consumers - Costs of branding - Cost of invested capital Brand financial value (Brand Equity)
=Brand Assets
Brand Equity
?
Brand Equity is a set of assets (and liabilities) linked to a brand’s name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm and/or a firm’s customers.
?
Brand Equity – Major Asset Categories Brand Name Awareness
? Brand Recognition – familiarity with the brand from past exposure ? Brand Recall – if the brand comes to consumer’s minds when its product class is mentioned
?
Brand Loyalty
? The more loyal customers are to a brand, the more valuable the brand is ? Loyal customers create very predictable sales and profit ? Customer loyalty can be increased by instituting Frequent Buyer Programs and Customer Clubs, or through Database Marketing
? ?
Perceived Quality
? Perceived quality of a brand drives financial performance
Brand Associations
? Brand associations are the mental associations that people have in regards to a brand – product attributes, symbols, product class, etc. ? Brand Identity drives these Brand Associations
Brand Identity
?
Brand Identity is a unique set of brand associations that the brand strategist aspires to create or maintain. These associations represent what the brand stands for and imply a promise to customers from organization members. There are 4 brand identity perspectives: ? Brand as a Product ? Brand as an Organization ? Brand as a Person ? Brand as a Symbol
?
Managing Brand Systems
?
Within the organization, the system of brands must fit together and support each other (at least not contradict and confuse the customer); decisions must be made with other brands in mind. Each Brand will fall into a specific role: ? Driver – Drives the purchase decision ? Endorser – Provides support and credibility to driver brand ? Strategic – Important brand to the future of the company; Represents large future profit or is highly impactful for company initiatives ? Subbrand – Part of a new line within the brand system ? Branded Benefits – Features, components, services ? Silver Bullet – Subbrand or branded benefit that is employed as a vehicle for changing or supporting a parent brand
?
Launching a new brand
?
?
? ? ?
Launching a new brand and launching a new product are not the same Determine which products are more typical of the brand Brand campaign or product campaign Brand language and Territory communication Brand language helps you establish the ideology of the brand and helps in decentralising decisions
Brand identity platform
?
Why must this brand exist?
? What would consumers miss if this brand did not exist
?
?
?
Standpoint
? From where does the Brand speak?
Vision
What is the Brand’s vision of the product category?
? ? ? ?
?
? ?
What are our values Mission Know-how Territory Typical products or actions Style and Language
? What are the brand’s stylish idiosyncrasies?
Reflection
? Whom are we addressing? What image do we want to render of the
Brand Strategies Over Time
?
?
?
The key to a strong Brand over time is consistency with the Brand Identity. You can change the Brand Perception by Evolving the Identity: ? Update the logo, Use new Slogans, Create new Products You may also Augment the Identity: ? Create Sub-brands, Change user imagery, Add emotional benefits, or Create Product Extensions
Choosing a name for a brand
? ? ? ? ?
Brand name or product name? The danger of descriptive names Taking the copy phenomena into account Taking time into account – Do not have too restrictive names Thinking internationally
Brand awareness
? ?
Top –of-mind – the ultimate goal Un-aided – spontaneous association of the brand to the product category
? Products involving less involvement by the purchaser – unaided awareness rate has more impact on choices
?
Aided
Leveraging the Brand
?
A strong brand can be leveraged to create larger and stronger business entities
?
There are several options to leverage brands: ? Line extensions within the existing product class is the simplest form of leveraging ? Stretching the brand up or down within a specific product class is also common ? Brand Extension, extending the brand into other product classes, is the ultimate way to leverage
Sustaining the brand for a long time
?
Innovations and Renovations
? Coca-cola – variants ? Procter and Gamble, L’Oreal, Gillette invest 3-5% of sales on R&D
? ?
Upgrade it to the current level of expectation Integrate new and emerging needs while holding on to the same positioning Constantly confirm one’s superiority on one particular axis Constantly strengthening the brand’s reputation Perceived difference can only be maintained if the innovations are allocated according to the strength of the brand
? ? ?
Sustaining the brand for a long time
? ? ? ? ?
Invest in communication Remain within the mainstream price Dominate to invest Control the distribution system Create entry barriers
? Cost of production ? Mastering technology and Quality (P&G) ? Domination through image and communication (Coca-cola) ? Range extensions fulfilling all aspects of promising ? Controlling distribution
?
Build Brand Loyalty
Organizing for Brand Building
?
Someone, or a group of individuals, must be in charge of the brand: From creating the Brand Identity, to designing implementation, to making Product Line decisions (Brand Manager, CEO, Brand Champion, Brand Committee, etc.) Companies must coordinate the brand across the organization – different divisions that use the same Brand should all be in alignment
?
?
Coordinating the Brand in the Media is also key, ensuring that regardless of the medium, the message is consistent
Brand Extension
Type of Brand
Value
Interest Knowhow Formula Product (A) (B) (C) (D) (E) Degree of product dissimilarity
Type of brand and ability to extend
BRAND IDENTITY
Brand Identity
Brand identity is the unique set of brand associations that the brand strategist aspires to create or maintain
12 dimensions of Brand Identity
Brand as a product
• • • • • • Product scope Product attributes Quality/ Value Uses Users Country of origin
Brand as a person
• Brand personality • Brand- customer relationships
Brand as Symbol
• Visual imagery/ metaphors • Brand Heritage
Brand as Organization
• Organizational attributes • Local versus global
Brand Identity (Continued)
?
?
?
?
Brand as Product ? What is the product? Why is it better/different than competitors? When do you use it? Is it store-brand or top-shelf? Brand as an Organization ? What does the company stand for? How do they operate business? How does that translate to their products? Brand as a Person ? If this product was a person, who would it be? What type of personality would it have? What type of relationship does the customer have with the brand? Brand as a Symbol ? Are there any logos/symbols that come to mind when thinking about this brand? Can customers easily bring to mind the brand identity when they see its associated symbol?
Brand identity and image
Sender Media Receiver
Brand Identity
Signals transmitted
Brand image
Other sources of inspiration •Mimicry •Opportunism •Idealism
Competition and noise
Brand identity prism
Picture of sender
Internalization
Externalization
Relationship
Culture
Picture of Recipient
Brand Identity Structure
? ?
Core Identity
? Timeless essence of a brand
Extended identity
? Includes elements that provide texture and completeness to the brand
?
Value Proposition
? Functional Benefits ? Emotional Benefits ? Self- expressive Symbolic benefits
?
Credibility
? Support other Brands
Brand Identity Implementation
?
Implementation begins with the creation of a Brand Position based on the Brand Identity Brand Position is the part of the brand identity and value proposition that is to be actively communicated to the target audience and that demonstrates an advantage over competing brands.
?
?
Once you have defined identity and position, you should do an Analysis to define the Brand Strategy in order to ensure the brand concept is solid
doc_767178612.pptx