module 6- branding
Post on 08-Apr-2018
218 Views
Preview:
TRANSCRIPT
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 1/25
MODULE 6
MBA I SEM, ITM-Bangalore
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 2/25
IMPORTANCE
OF BRANDING
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 3/25
AGENDA
Brand- Definition, Scope, Importanceof Branding and Emotional Branding
Brand Personality Brand Equity- Building and Managing
Brand Equity
Branding Strategy- Brand portfolio Customer Equity
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 4/25
BRAND- DEFINITION
AMA defines Brand as name, term, sign, symbolor design or combination of them, intended toidentify and differentiate the goods or services
of one seller to that of another. Branding is about creating differences between
products. For Brand strategies to be successfuland Brand value to be created, consumers must
be convinced about meaningful differences amongbrands.
Marketers can apply branding to physicalproduct, store, services, people etc..
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 5/25
BRANDING, CONTD..
According to Al Ries and Laura Ries, ´Brandingµ
presells the product or service to the user.
Scott Bedbury admitted that ¶consumers don·t truly
believe there·s a huge difference between
products,· which means brands have to establish
¶emotional ties· with their customers.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 6/25
EMOTIONAL BRANDING
It·s a new paradigm for connecting brandswith people.
In this hypercompetitive market, emotionalaspect of products and their distributionsystems will be the key differentiator.
How a brand engages consumers on the level
of the senses and emotions and how a brandcomes to life for people and forges a deeperlasting connection.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 7/25
ACTIVITY TIME
Hitesh switched on _____________ aircon andthe tv which he bought from _____________ retail store, used his DTH ____________ to doso. Soon he started reading his favorite book while
lounging on cushions he bought last week from ____________. He just checked time on his _____________ watch, surfed internetwith______________ , made calls with
________________ and quickly grabbedsomething to eat. He sprinkled ___________salton his grub while sipping ____________ ,took outhis _____________ car and drove to
_________________ for the weekend on abridge constructed with _____________.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 8/25
BRAND PERSONALITY
As per Jennifer L. Aaker (1997) brandpersonality can be defined as ´the set of humancharacteristics associated with a brand.µ
In simpler words, brand personality is about giving asymbolic meaning and ´Lifeµ to the brand as if it
were a person with a distinct personality.
Every brand has a personality. If it doesn·t, it is more
likely to be trodden on by those who have distinct
brand personality in the minds of the customers.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 9/25
BRAND EQUITY
Customer based brand equity emphasizes thatpower of the brand lies in what customers havelearned, thought and felt about the brand over
time. David Aaker distinguished 5 levels of customer
attitude toward the brand-
� Customer will change brands, esp because of
price reasons.� Customer is satisfied and has no reason to
change the brand.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 10/25
BRAND EQUITY, CONTD..
� Customer is satisfied and would incur costs bychanging brand.
� Customer values the brand and sees it asfriend.
� Customer is devoted to the brand.
Another very popular Brand equity Model is
Brand Resonance Pyramid which also showsvarious stages of Brand Development.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 11/25
BRAND RESONANCE PYRAMID
Resonance
J entseelin s
Perfor ance
I a ery
Salience
Relationships
Response
Meaning
Identity
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 12/25
BUILDING BRAND EQUITY
From marketing management perspective,building brand equity is a three step process-1) The initial choices for the brand identities:
logo, symbol, slogans etc. While Choosing these
brand elements, marketers should try to makethem easy, memorable, meaningful, likeable,protectable etc.
2) Marketing activities and supporting MarketingPrograms: Word of mouth, interactions with
company personnel, telephone experiences andpayment interactions, all these touch points buildbrands. Personalization, Integration andInternalization are some of the brand buildingmarketing programs.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 13/25
BRAND BUILDING, CONTD..
3) Other associations indirectly transferred tothe brand.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 14/25
MANAGING BRAND EQUITY
Brand Reinforcement: To reinforce brandequity, marketers should consistently convey themeaning of their brands in terms of their core
benefit and their superiority along with theirunique brand associations.
Brand Revitalization: Brand revitalizationbecomes necessary with changing consumer
tastes and preferences, changing technology andwith changing marketing environment. It alsoconsiders decision regarding repositioning.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 15/25
MANAGING BRAND EQUITY..
Brand Promise: It is the marketer·s vision ofwhat the brand must do for consumers.
Brand Identity: Brand Identity is what we
transmit to the market place- it is what is underour control provided we understand the essenceand expression of our brand.
Brand Image: The image of the brand is what
exists in the minds of consumers. It is the totalof all the information they have received aboutthe brand.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 16/25
BRAND DIMENSIONS
SOURCE DIFFERENCES
PERSONALI Y FUNC IONS
What is it?
What is it for?What does it
do?
How do people
feel about it?
Do they like it?
What does thecompany stand
for?
What are itsaims?
How is itbetter?
How is itdifferent?
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 17/25
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 18/25
BRAND LOYALTY, CONTD..
� Consumers might tell others about the brandwhich will benefit from positive word of mouthpublicity.
�Since it is less expensive to retain existingcustomers than acquiring new ones, marketingcosts are reduced.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 19/25
BRANDING STRATEGY
Brand Extension: It refers to the use ofsuccessful brand name to introduce a newproduct. It can be line extension or category
extension. Branding Decisions: Marketers need to decide
on four general strategies :-a) Individual namesb) Blanket family namesc) Co brandsd) Corporate name combined with individual product
names.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 20/25
BRANDING STRATEGY
Brand Portfolio: It is the set of all the brands aparticular firm offers in a particular category. Inoptimal brand portfolio, each brand maximizes its
equity in combination with all other brands.Specific roles of brands are:
a) Flankers
b) Cash Cows
c) Low-end Entry Leveld) High-end Prestige
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 21/25
MEASURING BRAND EQUITY
Since power of the brand resides inconsumers· minds, marketers canunderstand this through assessing the
actual impact of Brand Knowledge onconsumer responses to different aspects ofmarketing.
Brand Valuation is about total financial valueof the brand. Brand Value can be defines asNet Present value of future brand earnings.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 22/25
CUSTOMER EQUITY
Customer equity can be defined as the sum oflifetime values of all customers.
Rust, Zeithaml, and Lemon distinguish 3 drivers
of Customer equity-Value Equity, Brand Equityand Relationship equity.
The aim of CRM is to produce higher customerequity.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 23/25
No-Brand Brand
A visit to a Muji store in apan is an eye opener.One of the first things you notice is that theclothes are all bland, mostly white or beige and
never bright. Beige works. There is no logo onshirtfronts; in fact, there are no labels at all,even on the inside. Why would you want a label?The furniture, cookware and office equipment
are plain but functional. The designs are simple.They just provide what is needed to deliverfunction. The prices are low not by using cheapmaterials or design, but by cutting frills andusing design with the right objectives.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 24/25
BRAND EXTENSIONS- A GOOD
STRATEGY
Brand extensions are the use of an existing brandname on a new product in a new category to benefitfrom the existing brand name·s awareness andassociations³leverage the investments a companymakes in its existing brand names and hedge againstthe risk of new product failures. The popularity ofthis strategy is due to the belief that it leads tohigher consumer trial than the use of a new brand
name because of the awareness levels and associationequities of the brand name being leveraged. However,not all brand extensions succeed, and there is a riskthat failure will backfire on the image of the parentbrand. Relying on single brand strategy can also
constrain flexibility.
8/6/2019 Module 6- Branding
http://slidepdf.com/reader/full/module-6-branding 25/25
THANK YOU
top related