brand decisions
TRANSCRIPT
Brand Decisions
A brand for a company is like a reputation for
a person. You earn reputation by trying to
do hard things well.
What is Brand? A name term, sign, symbol or design or a
combination of them, intended to identify the
good or services of one seller or group of
sellers and to differentiate them from those of
the competitors.
Brand identifies seller.
Meanings
Attributes
Benefits
Values
Culture
Personality
User
“What distinguishes a brand from its unbranded
commodity counterparts is the consumers’
perceptions and feelings about the product’s
attributes & how they perform. Ultimately brand
resides in the minds of consumers”
Kevin Keller
• Sar Uthake Jiyo
• 2 minutes
• The complete man
Brand Identity
Brand’s name, logo, colors, tagline & symbol
Brand is “a marketer’s promise to deliver a
specific set of features, benefits & services”
Brands are not built by advertising but by the
brand experience.
Brand Equity
Aaker – “it is related to the degree of brand
name recognition, perceived brand quality,
strong mental & emotional associations and
other assets such as patents, trademarks &
channel relationship.”
Brand Equity is the positive differential effect
that knowing the brand name has on customer
response to the product or service.
Advantages of high brand equity
Trade leverage in bargaining with distributors
& retailers
Higher price
Easily launch brand extensions
Defense against price competition
Branding Decisions
Branding Decisions
•Brand
•No Brand
•Manufacture
•Distributor
•Licensed
•Individual
•Blanket Family
•Separate Family
•Company - individual
•Line extension
•Brand extension
•Multi brands
•New
•Co-brands
•Re- positioning
•No repositioning
Sponsor decision
Brand Name decision
Brand Strategy
Brand Repositioning
TO BRAND OR NOT TO BRAND
Advantages of Branding
Easier to process orders & track down
problems
Legal protection
Brand loyalty
Segmentation
Build corporate image
Easy acceptance of new brands
Brand Sponsor Decision
Manufacture brand Kelloggs, Colgate
Distributor brand Pantaloon’s – John Miller, Bare
Licensed brand Gitanjali group – Nina Ricci, Miss Sixty, Roberto Cavalli
Egana – Espirit, Peirre Cardin
Brand Name Decision
Individual names
Blanket family name
Separate family names for all products
Corporate name combined with individual
product names
Desirable qualities for a brand name
Suggest about the product’s benefits
Suggest the product category
Suggest concrete, high imagery qualities
Easy to spell, pronounce, recognize & remember
Distinctive
Should not carry poor meanings in other countries
& languages
Brand building tools Advertising PR & Press Releases Sponsorships Clubs & consumer communities Factory visits Trade shows Event marketing Public facilities Social cause marketing High value for money Founder’s or a celebrity personality\mobile phone marketing Social networking sites
Brand Strategy decisions
Functional brand
Image brand
Experiential brand
Line Extensions
Brand Extensions
Multi brands, new brands
Co brands
Brand Auditing & Repositioning
Packaging
“As all the activities of designing and
producing the container for a product”
The container is the Package Primary
Secondary
shipping
Importance of Packaging
Self service
Consumer affluence
Company and brand image
Innovation opportunity
Labeling
Identifies the brand
Grade the brand
Describe the brand
Promote the brand
New Product Development
Categories of new products By Booz, Allen, Hamilton
New to the World
New product lines
Additions to the existing product lines
Improvements & revision of the existing
products
Repositioning
Cost reductions
Factors hindering NPD Shortage of important ideas
Fragmented markets
Social & governmental constraints
Cost of development
Capital shortage
Faster required development time
Shorter PLC
New Product Development process
Idea Generation Interacting with others
Sales representatives Intermediaries Employees Management
Using creativity techniques Attribute testing Forced relationship Morphological analysis Reverse assumption Mind mapping
Idea Screening Drop error Go error
Concept Development
Product idea Product concept Category concept
Concept testing Communicability & believability Need level Gap level Perceived value Purchase intention User target
Marketing Strategy
Target market’s size, structure &
behaviour
Product positioning
Sales, profit & market share
Business Analysis
Estimating total sales
Estimating costs & profits
Break-even analysis
Risk analysis
Product Development
Quality Function deployment
Customer attributes
Engineering attributes
Customer & functional tests
Market Testing
Company seeks to estimate Trial
First Repeat
Adoption
Purchase Frequency
Commercialization Cost considerationManufacturing cost
Plant size
Marketing cost
When Where To whom (target market prospects) How
Consumer adoption process
Awareness
Interest
Evaluation
Trial
Adoption
Factors influencing the adoption process
Readiness to try new products & personal
influence
Characteristics of the innovation
Organizations’ readiness to adopt innovation