branding strategy
TRANSCRIPT
Branding StrategiesUnit 1 part 3
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Good branding helps the patient recall the hospital name faster and helps the target customers to get hooked to the brand, whereby improving the brand value"
- Dr Vivek Desai, MD, HOSMAC India Pvt Ltd, Mumbai.
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Branding is all about taking care of people's emotions and each employee is a brand ambassador of the hospital- Dr Nagendra Swamy, Group Director, Medical Services, Manipal Hospitals
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Wockhardt Hospitals Group
Tagline: Differs for all speciality hospitals. The Mulund Cancer Centre- Add years to life & life to years.Colour: Red - the colour of life.
Logo: Two red wings, flying in an upward direction, continuous growth. Brand Mantra: To provide the best in advanced super-speciality in healthcare Unique features: The Family Virtual Visit option, a pioneer in this case, for the relatives of the patients. In an emergency, when relatives cannot be entertained in the hospital all the time, this set-up helps to latest photographs and reports through e-mail to the relatives.
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Hospitals using branding in USA
• Mayo Clinic – Minneapolis, MN
• M.D. Anderson – Houston, TX
• Baptist Health Care – NW Florida
• Children’s Medical Center – Dallas, TX
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Mayo clinic
• emotional bond between Mayo and patients
• •A team oriented, collaborative approach to patient care through their Mayo
• Clinic Model of Care.
• Salary compensation of all staff
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Marketing
A Brand Team, Legal and the Mayo Board of Governors actively manages the Brand and protects it from internal and external violations
• All employees and associates are taught to live the Brand with every
• customer and colleague interaction
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Steps in Strategic Brand Management
• Identifying and establishing brand positioning
• Planning and implementing brand marketing
• Measuring and interpreting brand performance
• Growing and sustaining brand value
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What is a Brand?
A brand is a name, term, sign, symbol or design, or a combination of them,
intended to identify the goods or services of one seller or group of
sellers and to differentiate them from those of competitors.
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The Role of Brands
Identify the makerIdentify the maker
Simplify product handlingSimplify product handling
Organize accountingOrganize accounting
Offer legal protectionOffer legal protection
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The Role of Brands
Signify qualitySignify quality
Create barriers to entryCreate barriers to entry
Serve as a competitive advantage
Serve as a competitive advantage
Secure price premiumSecure price premium
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What is Branding?
Branding is endowing products and services with the
power of the brand.
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What is Brand Equity?
Brand equity is the added value endowed on products and services, which may be reflected in the way
consumers, think, feel, and act with respect to the brand.
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Brand Knowledge
Knowledge
Thoughts
Experiences
BeliefsImages
Feelings
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Advantages of Strong Brands
• Improved perceptions of product performance
• Greater loyalty• Less vulnerability
to competitive marketing actions
• Less vulnerability to crises
• Larger margins• More inelastic
consumer response• Greater trade
cooperation• Increased marketing
communications effectiveness
• Possible licensing opportunities
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What is a Brand Promise?
A brand promise is the marketer’s vision of what the brand must be and
do for consumers.
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Brand Equity Models
• Brand Asset Valuator
• Aaker Model
• BRANDZ
• Brand Resonance
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BAV Key Components
Differentiation
Energy
Relevance
Esteem
Knowledge
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Figure 10.3 Brand Dynamics Pyramid
Presence
Relevance
Performance
Advantage
Bonding
Strong Relationship
Weak Relationship
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Aaker Model
Brand Identity
Extended Identity
ElementsBrand Essence
Core Identity
Elements
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Figure 10.3 Brand Resonance Pyramid
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Drivers of Brand Equity
Brand Elements
Marketing Activities
Meaning Transference
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Brand Elements
ElementsSlogans
Brand
names URLs
Logos
SymbolsCharacters
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Internal Branding
• Choose the right moment
• Link internal and external marketing
• Bring the brand alive for employees
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Figure 10.4 Secondary Sources of Brand Knowledge
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Measuring Brand Equity
Brand AuditsBrand Audits
Brand TrackingBrand Tracking
Brand ValuationBrand Valuation
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Managing Brand Equity
Brand ReinforcementBrand Reinforcement
Brand RevitalizationBrand Revitalization
Brand CrisesBrand Crises
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Interbrand’s Steps in Calculating Brand Equity
• Market segmentation
• Financial analysis
• Role of branding
• Brand strength
• Brand value calculation
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Devising a Branding Strategy
Develop new brand elements
Develop new brand elements
Apply existing brand elements
Apply existing brand elements
Use a combination of old and new
Use a combination of old and new
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Branding Terms
• Brand line• Brand mix• Brand extension• Sub-brand• Parent brand• Family brand
• Line extension• Category extension• Branded variants• Licensed product• Brand dilution• Brand portfolio
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Brand Naming
Individual namesIndividual names
Blanket family namesBlanket family names
Separate family namesSeparate family names
Corporate name-individual name combo
Corporate name-individual name combo
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Reasons for Brand Portfolios
• Increasing shelf presence and retailer dependence in the store
• Attracting consumers seeking variety
• Increasing internal competition within the firm
• Yielding economies of scale in advertising, sales, merchandising, and distribution
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Brand Roles in a Brand Portfolio
Flankers
Low-end
Entry-level
High-end
Prestige
Cash Cows
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Marketing Debate
Are brand extensions good or bad?
Take a position:1. Brand extensions can endanger brands.
or
2. Brand extensions are an important brand-growth strategy.
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Marketing Discussion
How can you relate the different modelsbrand equity presented in this chapter? How are they similar? Different? Can you reconstruct a brand-equity Model that incorporates the best of each?