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Managing Brands for Competitive Advantage

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Page 1: Brand and Brand Name

Managing Brands for Competitive Advantage

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Brand

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Is a word, mark, symbol or a combination of them

used to identify the marketer’s product or

service.

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Brand Name

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Is something which can be vocalized or

spoken.

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Brand Equity

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Brand Equity - Goodwill

• The intangible value of a company beyond the value of its physical assets.

• Elements to brand equity:– Trust and Satisfaction– Measures:

• Brand awareness, levels perceived brand quality, percentage of purchases and repeat purchases.

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Strategies for Brand Equity

• Broadening Distribution– Not only available in their store but other retailer

stores.• Brand Extensions

– The application of an established brand name to new product offerings.

• Ex. Food supplement (Glutathione)

• Co-Branding– Like a multi-tier branding.

• Brand Licensing– Company owning the brand

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Brand Equity

•Added value that a certain brand name gives to a product in the marketplace.

•Gives high profits and stock returns.

•Also named: GLOBAL BRANDS

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Coca – Cola is the most valuable and most recognize brand in the world.

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McDonalds created “GLOBALIZATION.” Through their global brand, service, and company strategy.

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What makes a Global Brand POWERFUL?

• Measures brand equity in dollar values.

• One that sells at least 20 percent outside its home country.

• Four dimensions:– Differentiations– Relevance– Esteem– Knowledge

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Differentiation• Brands ability to stand apart from

competitors.

Stand out in consumers’ minds as symbols of unique product characteristics

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Relevance• The real and perceived appropriateness of

the brand to a big consumer segment.

Large number of consumers must feel a need for the benefits offered by the brand

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Esteem• Combination of perceived quality and

consumer perceptions about the growing or declining popularity of a brand.

A rise in perceived quality or in public opinion about a brand enhances a brand’s esteem.

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Knowledge• Extent of customers’ awareness of the

brand and understanding of what a good or service stands for.

Knowledge implies that customers feel an intimate relationship with a brand.

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Product Identification

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Trademark

• A brand for which the owner claims exclusive legal protection.

• Should not be confused with a trade name.

Ex.Coca-Cola Company =

tradenameCoke = trademark

• Trademark protection offers an exclusive legal right to use its brand name, mark, slogan, and others.

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Trade Dress

• Visual cues used in branding create an overall look.

• Related to color selections, sizes, package and label shapes, and similar factors.

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Trade Name• Includes individual name and surnames, firm

name, device or words used by a manufacturer and others to identify their business.

Ex.

Nestle Philippines, Inc.

Coca-cola Bottlers Phils. Inc.

Magnolia Phils. Inc.

Jose Maria College of Davao

Smart Communications Inc.

Globe Telecom, Inc.

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Trade Character• Is a brand mark that is personified.

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Service Mark• A mark is used in the sale or advertising of

services to identify the services of one person and distinguishes them from the marks, names, symbols titles, designation, slogans, character name and distinctive features of advertising.

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Choosing a Brand Name

• 5 Potential sources to choose brand names:– Under brand extension, an existing

name is used with a new product.• Sports Illustrated for Kids/ Smart Gold

– For private brand, the reseller specifies the name.• Parisian shoes – a shoe brand of SM

Shoemart

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– If a new name is sought, these alternatives are available.

• Initials = KFC

• Invented Name = Kleenex

• Numbers = 20th Century Fox

• Mythological = Samsonite Luggage

Character

• Personal Name = Nenita Meatshop

• Geographical = Philippine Airlines

• Dictionary Word = Silver Swan Soy Sauce

• Foreign word = Nestlé

• Combination = Head & Shoulder Shampoo

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– With a licensing agreement to cover them from imitations, piracy, and copyright.

– In co-branding, two or more brand names are used with the same product to gain from the brand images of each.

Ex.

SM-BDO Credit Card

Ice Age 3 Happy Meal @ McDonalds

Colgate-Palmolive Products

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Creating a Brand Image

• Brand Image

– Is an impression created by brand messages and experiences and assimilated into a perception or impression of the brand.

• Image

– Makes a statement about a brand’s personality.

– Adds value to a brand because the image can communicate something about the buyer to other people.

• Ex. Harley-Davidsons (image of an outlaw) motorbike ni Rudy Duterte

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Look at how the names of these Universities are presented. How well do you think the “look” of each college logo matches up with the image

you have of each school?

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Brand Characteristics

• Tangible– Design– Performance– Ingredients/

components– Size/ Shape– Price– Marketing

Communication

• Intangible– Value– Brand image– Image of stores where

sold– Perceptions of users

of brand

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Brand Transform Products

• How powerful is branding?– A brand and what it represents can affect

what people are willing to pay for a product.• Ex. Panasonic against Sony

• Store Brand– Is a brand used exclusively by one chain of

stores for a line of products made to the chains specifications.

• Ex. Gmall vs. JS Ilustre

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Brands Make Promises

• Brand is a promise– This promise sets expectations for what a

person considers likely to occur when using a product.

– It’s a contract between customer and brand

• When a promise is strong and the product delivers, the promise becomes a platform for helping build a long-term relationship with satisfied customers.

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Desired Brand Position• Brand Position

• The standing of a brand in comparison with its competitors in the minds of customers, prospects, and other stakeholders.

• Ex. When people think of cars, they think of Volvo as the safest, Corvette as the sportiest, and Ford as the most practical.

• Challenge is to select a position that can be realistically supported by the product, the company, and the marketing that can be appreciated by customers.

• Ex. “Assured Consistent Quality Education” JMC

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Managing a System of Brand

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• As companies expand more of their product, they extend their brands.

• Multi-tier branding– The use of two or more brands (all owned with

the same company) in the identification of a product.

– Corporate brand name is the umbrella brand• Example PepsiCo. (Mountain Dew, 7UP, Mirinda,

Pepsi, Diet Pepsi, Lay’s, Doritos, Ruffles, Cheetos

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Multi-tier Branding Reasons to use:

1. Take advantage of the value of the corporate name.

2. Strengthen the corporate brand by connecting it with a successful product line.

3. A product brand helps differentiate the offering from other products sold by the company, as well as from competing products.

4. Combines two or more sets of brand perceptions with the idea that two or more brands are stronger and more attractive than a single brand.

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Managing a System of Brand

• The use of corporate brand is intended to communicate trust and quality.

• To communicate benefits as performance, reliability, and image.

• How much emphasis to give each brand.

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How Brand Relationship created and Maintained

• Regis Mckenna “A successful brand is nothing more than a special relationship.”

• Brand success:– Retaining customers– Good customer relationships lead to retention

» Builds long term effort to develop trust.

• Customer bill of rights– Customer-centric philosophy that drives

retention strategy.

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Undesired Outcomes

• Customers who were given over promised will ultimately be less satisfied than those who haven't been.

• Disappointed customers become negatives spokespersons for the grand

• Disappointed customers are less likely to buy again; sale is one time transaction.

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Benefits of Brand Relationships

• Impact on Cost– Selling to current customers costs less than

attracting new customers– Relationships spread the cost of acquisition– Loyal customers are brand advocates– Satisfied customers require less hand-

holding.

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Benefits of Brand Relationships

• Impact on Sales/Profits– Loyal customers buy more– Loyalty increases long-term customer value– Fewer defections increase sales

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Benefits of Brand Relationships

• Benefits to the customer– Less risk– Fewer decisions– Fewer Switching costs– Greater buying efficiency– Increased association, self-identification