product definition and brand models
DESCRIPTION
Product and Brand ManagementTRANSCRIPT
A product is something that is made in a factory;
a brand is something that is bought by a customer
Stephen King
WHAT IS A BRAND ?
A mental expression of an ‘experience’
offered by a product / service
The experience is colored by our environment, values, beliefs and needs
BRAND AWARENESS
Ability to identify a brand under different conditions
Brand Recognition Correctly recognize the brand
Brand Recall Ability to retrieve the brand from memory
when the product category is mentioned/ thought of
THE AWARENESS PYRAMID
Aided & Unaided Recall
Brand Recognition
Unaware of Brand
Topof Mind
EXPERIENCE
EXPECTATIONS
PHYSICAL
SENSORY
RELATIONSHIP
BRAND
EMOTIONAL
BRAND ASSOCIATIONS
Attributes Descriptive features that characterize a
product service What we think the product / service is or has
and what is involved in its purchase and use Product related - performance, service,
product class Non-product related - price, packaging,
user imagery, intangible imagery
BRAND ASSOCIATIONS
Benefits Values attached to product attributes. What we
think the product can do for us Functional Experiential Symbolic
Perceived quality is a combination of the associated attributes and benefits that are salient for the brand
Overall impression of the brand / value judgement based on the cumulative effect of various brand associations in our mind
BRAND MEMORY
Memory and knowledge consist of a set of Nodes - small centers of stored information Links - connections between nodes
A node is activated when encoding external information and storing it or when retrieving information from our long term memory
Other nodes are switched on depending on the content and strength of association
BRAND IMAGE
Image of the provider of the product / service and brand
Functional / Hard attributes like size, technology, process and financial strength
Non-functional / Soft attributes like history, leadership.
Image of the user Psychographic - lifestyle, personality,
traditional, modern, sophisticated Demographic - Age, income, education
BRAND MANAGEMENT
Managing the expectation of experience by :- Building on those experiences which add value- Eliminating those experiences which are negative
Keeping the brand experience relevant to changing consumer lifestyles and expectations, technology and competition.
SUCCESSFUL BRANDS
Transcend physical attributes Take on a distinct character of their
own, both recognizable and reassuring Build relationships with the consumer Capture consumer aspirations and fulfill
expectations which in turn creates a bond
Belong to the consumer
HOFSTEDE MODEL
Symbols
Rituals
Role Models
ValuePractice
BRAND IDENTITY PRISM
Relationship
Physique Personality
Culture
Reflection Self Image
EXTERNALIZATION
INTERNALIZATION
Picture of Recipient
Picture of Sender
PHYSIQUE
Combination of independent characteristics either prominent or dominant
PERSONALITY
Brand Character
CULTURE
System of values, a source of inspiration and brand energy
RELATIONSHIP
A brand is a relationship
REFLECTION
A brand reflects a customer’s image
SELF IMAGE
Target’s own internal mirror
Security, Reassurance
All data processingsystems Confident, square
Big business, Ivy League,East Coast, Wall Street
Those who taketheir business seriously
I am a pro
IBM
Liberation,friendly
Micro computers,All purpose Intelligent, creative, cool
Changing the organization,The Valley culture
Young mindedAutonomous
Self enhancement
APPLE
Lovemarks are a game-breaking
opportunity to reinvent
branding
Lovemarks deliver enduring
connections between a
company, its people, its brands
and its customers
Lovemarks belong to
people who love them
Lovemarks are the ultimate
premium profit generators
A A LovemarkLovemark is a product, is a product,
service or entity service or entity that that inspiresinspires
loyalty beyond loyalty beyond reasonreason
Love is
Unknown
Known for things I care about
Advocated
Known
Known for something
Known for good things
Known for things that are different
BRANDSLow Love
High Respect
LOVEMARKSHigh Love
High Respect
PRODUCTSLow Love
Low Respect
FADSHigh Love
Low Respect
LOVEMARK
MOVING TOWARDS AMULTISENSORY MODEL
SMELL
TOUCH
SIGHTSOUND
TASTE