brand management mmi

7/31/2019 Brand Management MMI

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What is a brand?

A brand is a name, term, sign,

symbol, design or a combinationof the above to identify thegoods or service of a seller and

differentiate it from the rest of thecompetitors


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A brand comprises of Tangible attributes

Intangible attributes


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TangiblesEg.

Product

Packaging

Functional benefits


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IntangiblesEg.

Quality

Emotional benefits

Values

Culture Image


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Copyright 2009Dorling Kindersley(India) Pvt. Ltd.

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branded the destination with abrand name, logo, and the

tagline Gods Own Country


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Brand Identity

It is the marketers promise to

give a set of features, benefitsand services consistently


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Advantages of Branding Easy for sellers to track down problems and process

orders

Provide legal protection of unique product features Gives an opportunity to attract a set of loyal and

profitable customers

Helps to give a product at different segments having

separate bundle of benefits Helps build corporate image

Minimises damage to company if brand fails


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Brand Building

Involves all the activities that are

necessary to nurture a brandinto a healthy cash flow streamafter launch


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What kind of activities?Eg.

Product development

Packaging

Advertising

Promotion Sales and distribution


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What is brand equity? The premium it can command in the

market

Difference between the perceived valueand the intrinsic value


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What happens when brands

have high equity? The company can have more leverage

with the trade

The company can charge a premium ontheir product

The company can have more brand

extensions The company can have some defense

against price competition


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Advantages of Strong Brands Improved

perceptions ofproduct

performance Greater loyalty

Less vulnerability tocompetitive

marketing actions Less vulnerability to

crises

Larger margins

More inelasticconsumer response

Greater tradecooperation

Increased marketingcommunicationseffectiveness

Possible licensingopportunities


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Brand Loyalty PyramidCommitted buyer

Likes the brand. Considersit a friend

Satisfied buyer. Would

incur costs to switch

Satisfied buyer/noreason to change

Switchers/Price

sensitive


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Brand Parity

Consumers buy from a set of

acceptable preferred brands


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Umbrella Branding Products from different categories

under one brand

Dangerous to the brand if the principalbrand fails

Sometimes the company name is

prefixed to the brand. In such cases thecompany name gives it legitimacyandthe product name individualizes it.


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How are brand names

chosen? What does the brand name mean?

What associations / performance /

expectations does it evoke ?

What degree of preference does itcreate?


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A brand name should indicate Product benefits

Product quality

Names easy toremember,recognise,pronounce

Product category

Distinctiveness

Should not indicatepoor meanings inother markets orlanguages


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Brand Strategy

Line extension existing brand extended tonew offerings in the same product category

Brand extension existing brand nameextended to new product categories

Multi brands Different brands in the sameproduct category

New brand


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Brand Repositioning

This may be required after afewyears to face new competition and

changing customer preferences


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Figure 10.3 Brand Resonance Pyramid


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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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Devising a Branding Strategy

Develop new brandelements

Apply existing brandelements

Use a combination ofold and new


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Reasons for Brand Portfolios Increasing shelf presence and retailer

dependence in the store

Attracting consumers seeking variety

Increasing internal competition withinthe firm

Yielding economies of scale inadvertising, sales, merchandising, anddistribution


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Brand Roles in a BrandPortfolio

Flankers

Low-endEntry-level

High-endPrestige

Cash Cows

brand management mmi

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