brand managemet
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Brand Management
Manoj Patel Assist. Professor
Jhunjhunwala Business School, Faizabad
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What is a brand?
A brand is a name, term, sign, symbol, design or a combination of the above to identify the goods or service of a seller and differentiate it
from the rest of the competitors
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When you cannot do this
The product is a commodity
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A brand comprises of
Tangible attributes
Intangible attributes
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Tangibles
E.g..
Product
Packaging
Labeling
Attributes
Functional benefits
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Intangibles
Eg.
Quality
Emotional benefits
Values
Culture
Image
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Brand Identity
It is the marketer’s promise to give a set of features, benefits and
services consistently
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Brand Building
Involves all the activities that are necessary to nurture a brand
into a healthy cash flow stream after launch
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What kind of activities?
Eg.
Product development
Packaging
Advertising
Promotion
Sales and distribution
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Brand Equity
When a commodity becomes a brand, it is said to have equity
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What is brand equity?
The premium it can command in the market
Difference between the perceived value and the intrinsic value
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What happens when equity
increases?
Commodity Brand Power Brands
Presence
+
Personality
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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 on their product
The company can have more brand extensions
The company can have some defense against price competition
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Brand Loyalty Pyramid
Committed buyer
Likes the brand. Considers
it a friend Satisfied buyer. Would
incur costs to switch
Satisfied buyer/no
reason to change
Switchers/Price
sensitive
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How does one build brands?
Distinguishing it from others – value proposition
Brand promise must match brand delivery
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The value proposition
Broad positioning
Specific positioning
Value positioning
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Creating the brand
Choosing a brand name
Develop rich associations and promises
Managing customer brand contact to meet and exceed expectations
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Considerations in choosing a
brand name
What does the brand name mean?
What associations / performance / expectations does it evoke ?
What degree of preference does it create?
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A brand name should indicate
Product benefits
Product quality
Names easy to remember, recognise, pronounce
Product category
Distinctiveness
Should not indicate poor meanings in other markets or languages
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Brand Associations
‘owned word’
Slogans
Colours
Symbols and logos
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Brand Status
Step up
advertising
FAMILIARITY
E
S
T
E
E M
New Product
Or Product
should be phased out
Cash Cow.Need to
Sustain brand
building activities
Troubled brand
Product upgradation
required
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Brand ambassadors
Giving a face and personality to the brand that is expected to be rubbed off from the brand ambassador
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Brand Vitality
Differentiation in consumer’s need
Differentiation relevant to consumer’s need
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Brand Pitfalls
Brand experience must match brand image
Calls for managing every brand contact